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Pieterse, Cornelius Louwrens. "A public sector integrated financial governance framework /." Link to the online version, 2006. http://hdl.handle.net/10019.1/1223.
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Yagan, Danny. "Essays in Public, Labor, and Financial Economics." Thesis, Harvard University, 2012. http://dissertations.umi.com/gsas.harvard:10278.
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This dissertation comprises three chapters. The first chapter investigates the real effects of dividend taxation. "C"-corporations and "S"-corporations operate at the same scale and in the same narrow industries across the United States but only C-corps are subject to dividend taxation. Using hundreds of thousands of corporate tax returns and S-corps as a counterfactual, I show that (1) the 2003 dividend tax cut increased total C-corp payouts (dividends plus buybacks) by 45%, implying an elasticity with respect to one minus the tax rate of 1.4; (2) the payout response did not diminish after the 2004 reelection of President Bush and subsequent tax cut extension, undermining intertemporal tax arbitrage as a candidate explanation; and (3) the tax cut caused little or no increase in C-corp gross investment, net investment, total employee compensation, or number of employees. Unlike previous papers, these results reject both the "old" and "new" views of dividend taxation and instead point to some combination of the new view along with agency, tunneling, wealth reallocation, and tax avoidance effects. The second chapter uses the 1996 UC affirmative action ban to study whether and how nondiscrimination laws constrain decisions made behind closed doors. Seventeen years of law school applications reveal (1) pre-ban admissions offices used race, a novel conclusion from purely cross-sectional data; (2) the ban reduced observed black admissions advantages by two-thirds, implying under weak assumptions that the ban substantially reduced the use of race; (3) observed post-ban black advantages were nevertheless large; and (4) post-ban admissions offices used race in at least the first several years after the ban. These facts suggest that nondiscrimination laws can meaningfully constrain private selection decisions but that enforcement frictions may permit modest continued use of race. This paper's methods can improve civil rights litigation. The third chapter investigates why net flows into equity mutual funds are strongly procyclical. Investors' stated beliefs indicate they are trying to time short-run peaks and troughs, but I show they chase returns even with assets that are illiquid over a five-year or longer horizon. The time series of inflows suggests that individuals raise their expectations of the annualized long-run equity return by 10%, 6%, 5%, and 4% of the first-through-fourth annual S&P lags. Such beliefs imply frequent and dramatic revisions of the expected long-run equity return, including an 8-percentage-point reduction from 1999 to 2003.Economics
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Pieterse, C. L. "A public sector integrated financial governance framework." Thesis, Stellenbosch : University of Stellenbosch, 2006. http://hdl.handle.net/10019.1/1223.
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Thesis (PhD (School of Public Management and Planning
))—University of Stellenbosch,
2006.Using an investigative approach the study starts by outlining the governance quandary that exists within the public sector, with observations made over the past decade by scholars and active role players in the governance arena both in the private sector and in the public sector. It continues to show a growing need for good governance in the public sector, especially in the developing economies of emerging democracies. It uses South Africa as an example in this regard, although the discussion can just as well be applied to other countries finding themselves in a similar situation. It places the governance debate in perspective and provides the background for the development of the Public Sector Integrated Financial Governance Framework (IFGF). A brief look is taken at the reasons for the growing focus on governance in general, governance in the private and public sector, the need for governance, the basic dynamics of governance, stakeholder relationships, the regulatory framework and the role of the judiciary. It then places this understanding of governance – from a financial perspective – within the South African context. Using the South African context the study discusses the need for an IFGF, the basic requirements for such an IFGF and then as a response proceeds to discuss the role of values and principles, functional application areas and governance-related activities in an IFGF. It develops a financial governance universe, which provides an overview of the various subsections within these aspects. From this basis the study proceeds to develop the IFGF by identifying specific principles and values applicable to South Africa, followed by a description of functional application areas consisting of leadership, management and control practices required as a minimum to ensure healthy public sector financial governance. It continues to develop governance-related activities based on existing frameworks recognised by public sector agencies globally and in some instance, designed for the private sector. The study proceeds to develop these areas to enable employees in the public sector to discharge their duties in a manner that can form the cornerstone in governance excellence. Having used a deductive approach during the first few chapters to develop the IFGF, the study then proceed using an inductive process to construct the conditions and the related activities required by the IFGF. It develops detailed information on specific activities that must be in place for the IFGF to be functional. These activities provide the “how” and are grouped together based on a recognised framework. Governance effectiveness depends on a situation where all areas are considered. Lastly the study focuses on the conclusions regarding the IFGF outcomes and therefore discusses the implementation of the IFGF and the impact on the accounting system, measuring governance and keeping the IFGF updated with developments internally and externally. The study shows the growing importance for developing countries and emerging economies to demonstrate healthy governance processes and practices. However, no consensus yet exists on the approach or methodology, particularly with regard to building national ownership of and political commitment to governance (Landell-Mills, 2003:369). Fortunately similar initiatives have been forthcoming from a number of countries and, although they are each focussed differently, they provide a base for developing a public sector IFGF for South Africa in particular, but can also be used as a guideline for other emerging democracies. Developing the governance universe facilitates the process of keeping track of a multitude of possibilities that are relevant in day-to-day management. The study determined the applicable criteria that an IFGF must satisfy to attract attention when funding is required from the donor community and to provide assurance to stakeholders with limited skills and knowledge that objectives are achieved effectively and efficiently in an ethical environment. The benefit of this framework is that it has passed the first scrutiny in South Africa namely that of the Provincial Treasury of the Provincial Government Western Cape (PGWC) public sector audit committees in the public sector (PGWC) and is currently being subjected to a four-year implementation process, starting with an awareness phase in all Departments of the PGWC. During this process the senior management of all the departments are being exposed to the principles contained in the IFGF and their practical observations and suggestions will be applied towards formulating an updated version of the Governance Framework of PGWC (Draft version 2.20e). This is significant, because it represents a healthy interaction between academic research and practical application, a process that is more often than not balanced, but appears to be in favour of either the one or the other.
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Newberry, Susan Margaret. "New Zealand's Public Sector Financial Management System: Financial Resource Erosion in Government Departments." Thesis, University of Canterbury. Accountancy, Finance and Information Systems, 2002. http://hdl.handle.net/10092/862.
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New Zealand's public sector reforms have been hailed as a model of theoretical consistency and coherence. The associated financial management reforms, known internationally as new public financial management (NPFM), were world-leading although they are no longer unique. The underlying nature and intent of public sector reforms have been the subject of considerable debate internationally. Early public sector reforms openly sought privatisation, often on ideological grounds. However, in the face of gathering public opposition, public discussion of privatisation softened. NPM and NPFM have been promoted instead mainly on more pragmatic grounds such as improving public sector performance. In New Zealand, the Public Finance Act 1989 is the key legislation underpinning the financial management reforms. The Act delegates regulatory powers to the Treasury and, over time, a considerable body of secondary regulation, including accounting rules, has been developed. However, this secondary regulation, and its contribution to the success or otherwise of the public sector reforms, has not been examined in detail to date. In 1999, New Zealand s Controller and Auditor-General suggested that the financial management system erodes government departments resources and that somehow this resource erosion escapes parliamentary scrutiny. The Treasury, on the other hand, defended the foundations of the financial management system as solid, arguing that retention of the existing framework would allow further and faster progress towards improved performance and value-for-money than would be achieved by a new set of reforms. This debate prompts questions whether and, if so, how and why a financial management system, ostensibly implemented to improve the performance and accountability of the public sector, could be linked to such effects, and whether parliamentary scrutiny is indeed avoided. This thesis examines the secondary regulation and explains the development of the financial management system with the intention of answering those questions. The analysis undertaken in this thesis suggests that New Zealand's public sector financial management system fabricates the conditions under which privatisation initiatives might be accepted for pragmatic reasons. The erosion of departments financial resources is an essential mechanism in that fabrication process. As this system has developed, the time available for parliamentary scrutiny has reduced and the Controller and Auditor-General s controller function has been eroded, while the control and discretion exercised within the Treasury has increased. Arguably, these developments have helped to conceal the system s privatising intent. The thesis identifies features of the financial management system used to rationalise the financial resource-eroding processes. It also notes that if New Zealand's financial management system is no longer unique, then other NPFM systems may contain a similar combination of features.
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Mbesi, Mwiga Wiljonsi. "Public financial watchdogs, new public management and value for money in Tanzania." Doctoral thesis, [s.n.], 2015. http://hdl.handle.net/10284/5080.
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Tese apresentada à Universidade Fernando Pessoa como parte dos requisitos para obtenção do grau de Doutor em Ciências Sociais, especialidade em Serviço SocialApesar da visibilidade crescente da Nova Administração Pública (NAP) e das agências reguladoras, permanecem por responder algumas interrogações cruciais sobre como respeitar os padrões adequados de ―Value for Money‖ (VFM) na utilização de recursos públicos. Esta tese pretende explorar o impacto das agências reguladoras na problemática da ―accountability‖ e da gestão de recursos públicos através de uma análise critica das instituições de auditoria na prossecução de VFM de acordo com a teoria da NAP. A tese envereda, ainda, por uma análise crítica da posição dos cidadãos no contexto da atividade desempenhada pelas agências reguladoras. O contexto tanzaniano foi abordado através de uma estratégia de investigação qualitativa, comênfase nas entrevistas, questionários e análise documental, com o propósito de testar a validade das perguntas de partida. Os resultados revelaram que a Tanzânia adotou o modelo de NPA e criou, nessa conformidade, várias agências reguladoras. Todavia, tratou-se da adoção parcial do modelo de NAP. Apesar das reformas empreendidas, tem-se notado o crescimento de fraude, de irregularidades várias, de corrupção e uma utilização ineficiente de recursos públicos. Constatou-se que a adoção da NAP e a criação de agências reguladoras não contribuíram para o aumento do poder das entidades de supervisão financeira do setor público nem para o aumento dos padrões de ―accountability‖. Um fator com peso que diminui o alcance de VFM é o elevado nível de dependência política das entidades responsáveis pela provisão de serviços públicos. Os resultados revelaram ainda que as entidades de supervisão financeira do setor público têm muita utilidade para assegurar VFM na utilização de recursos públicos. No entanto, as instituições de auditoria tanzanianas confrontam-se com vários desafios que dificultam a execução cabal dos seus deveres profissionais. Estas entidades encontram-se divididas entre acautelar interesses políticos e interesses dos cidadãos. Por exemplo, os dirigentes das instituições de supervisão financeira na Tanzânia são nomeados pelo governo e dele dependem em larga medida,o que coloca em risco a sua independência política. O modelo das agências reguladoras tanzanianas inclui consultores financeiros com ligações ao governo e não verdadeiras instituições de supervisão financeira do setor público. Apesar do Controllerand Auditor Generaldispor de um mandato constitucional para auditar o setor público, não dispõe de poderes de verificação das suas recomendações. A tese considera, por conseguinte, que as entidades de supervisão financeira do setor público tanzaniano têm poderes limitados. Não obstante a Constituição exigir que o governo seja ―accountable‖ junto dos cidadãos e que haja abertura à intervenção dos cidadãos na gestão dos assuntos públicos, o modelo das agências reguladoras da Tanzânia, assim como o seu enquadramento legal e o sistema de ―accountability‖, ignoram a intervenção dos cidadãos.
Despite the increased visibility of the adoption of New Public Management (NPM) and agencification, the key questions regarding the achievement of Value for Money (VFM) in the utilization of public resources remain unanswered. This dissertation intended to produce evidence on the impact of agencification on accountability and management of public resources. It critically analyzes the usefulness of Supreme Audit Institutions (SAIs) in assuring VFM in the utilization of public resources according to the NPM doctrine. It also provides a critical analysis of the position of the public in the agencification framework. Qualitative research strategy was used to analyze the Tanzanian framework, and in particular in-depth interviews, questionnaires, and documentary analysis, to confirm the initial research assumptions. Findings revealed that Tanzania has embraced NPM and agencification. However, the country has partially implemented the NPM doctrine. Despite the reforms, fraud, irregularities, corruption, and inefficient use of resources are growing. NPM and agencification have not largely improved public watchdogs‘ power in addressing accountability issues. One major factor that hinders the achievement of VFM is that the service delivery machinery has been highly politicized and becomes part of the political system. Findings reveal that public financial watchdogs are exceptionally useful in assuring VFM in the utilization of public resources. However, Tanzania‘s SAI is facing a number of challenges that resulted in the unsuccessful execution of professional duties. Watchdog institutions are facing the risk of balancing political interests and the interests of the public. For instance, the heads of Tanzania‘s public financial watchdog institutions are appointed and largely obey to the government and not to the public. This puts in jeopardy their expected independence status. Thus, Tanzania‘s agencification and accountability framework comprises ―government financial consultants‖ and not ―public financial watchdog institutions‖. Although the Controller and Auditor General (CAG) is constitutionally mandated to audit the public sector, it is not mandated to follow-up and to enforce audit recommendations. This dissertation considers Tanzania‘s public watchdog institutions as toothless public financial watchdog institutions. Regardless that the Constitution requires the government to be accountable to the people and to be open to the people‘s participation in public affairs, Tanzania‘s agencification, legal and accountability frameworks ignore the involvement of the public.
Malgré l'augmentation de la visibilité de l'adoption de la Nouvelle Gestion Publique (NGP) et des agences de régulations, les questions clés concernant le respect des standards de « Value for Money » (VFM) dans l'utilisation des ressources publiques restent sans réponse. L‘objectif de cette thèse est d‘analyser l'impact des agences de régulation sur la problématique de l‘«accountability» et de la gestion des ressources publiques à travers une analyse critique de l'utilité des Institutions de Surveillance pour assurer une VFM dans l'utilisation des ressources publiques en suivant la doctrine de la NGP. La thèse présente aussi une analyse critique de la position du public face aux activités effectuées par les agences de régulation. La recherche qualitative a été utilisée comme stratégie pour analyser le contexte de la Tanzanie, et en particulier les interviews approfondies, les questionnaires et l'analyse documentaire, pour confirmer les hypothèses initiales de recherche. Les résultats ont révélé que la Tanzanie a adopté la NGP et l‘agencement. Cependant, il ne s‘agit que d‘une mise en oeuvre partielle du modèle de NGP. Malgré les réformes, la fraude, les irrégularités, la corruption, et l'utilisation inefficace des ressources augmentent de plus en plus. L‘adoption de la NGP et la création des agences de régulation n‘ont pas amélioré le pouvoir des institutions publiques de surveillance ni traité les problématiques liées à l‘«accountability». Un facteur important qui entrave la réalisation de NGP est le fait que le mécanisme de prestation de services a été très politisé et devient partie intégrante du système politique. Les résultats révèlent que des garde-fous dans la gestion des finances publiques sont particulièrement utiles pour assurer une NGP dans l'utilisation des ressources publiques. Cependant, les institutions tanzaniennes de surveillance sont confrontées à des défis qui ont abouti à une exécution sans succès de ses devoirs professionnels. Elles sont partagées entre les intérêts politiques et les intérêts publics. A titre d‘exemple, en Tanzanie, les chefs des institutions financières publiques de surveillance n‘obéissent pas aux intérêts publics mais plutôt au gouvernement qui les nomme. Ceci met en péril leur statut d'indépendance présumée. Ainsi, le modèle tanzanien des agences de régulations et de «accountability» inclut les «consultants financiers du gouvernement» mais pas les «institutions de contrôle des finances publiques ». Bien que la Constitution donne mandat à la «Cours des Comptes» pour auditer le secteur public, cette dernière ne dispose pas de pouvoir pour suivre et appliquer les recommandations des audits. Cette thèse considère les institutions publiques de vigilance de la Tanzanie disposent des pouvoirs assez limités. En dépit du fait que la Constitution oblige le gouvernement à rendre compte à la population et lui ouvrir une participation à la gestion des affaires publiques, le cadre juridique des agences de régulation et de l‘«accountability» en Tanzanie ignore complétement la participation des citoyens.
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Prüssing, Tim. "Public - Private partnership financing in South Africa." Master's thesis, University of Cape Town, 2015. http://hdl.handle.net/11427/15713.
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This study argues that the financing options available to PPPs in the South African financial market are limited and only few traditional financing solutions, such as commercial bank debt, are available to project developers. While traditional financing solutions may provide an attractive and easy to obtain financing solution, they are not necessarily optimal, cheap or able to provide the best value for money (National Audit Office, 2001). This suggests that the South African financial market, which is so critical to the success of PPP projects, may in fact be hindering the development and efficiency of the market. The main research questions addressed in this study are: * what is a PPP and what does its typical structure look like; * what is the state of the South African PPP market including framework and number of projects procured; * what financing options and models are available to PPPs worldwide; and * what financing solutions have been employed on South African projects? In answering these questions, we particularly focus on the financing options available to PPPs. As part of this overview we discuss private sector and public sector solutions. Private sector solutions discussed include equity, debt and mezzanine finance. We give particularly focus to debt financing which tends to make up the majority of financing in a typical PPP. Public sector solutions include government contributions, guarantees as well as hybrid structures.
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Singla, Akheil. "Financial Crises & Financial Derivatives: Government Use of Interest Rate Swaps From 2003 - 2012." The Ohio State University, 2015. http://rave.ohiolink.edu/etdc/view?acc_num=osu1437058804.
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Risman, Sveta, and not supplied. "Measuring the Impact of Financial Deregulation." RMIT University. Economics, Finance and Marketing, 2006. http://adt.lib.rmit.edu.au/adt/public/adt-VIT20080206.100855.
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Extensive deregulation of the Australian financial system officially began in the early 1980s. Since 1979 there have been three inquiries into the Australian financial system. The Campbell, Martin and Wallis Inquiries all supported the notion of deregulation of the Australian financial system. Many of their recommendations focused on allowing the market to determine market outcomes without jeopardising stability. Reform to the system was expected to provide a number of benefits, including increased competition and efficiency. Due to the limited quantity of quality data, research in this area has been limited. This thesis attempts to address issues that have not been adequately dealt with in the current literature by creating a database of financial bank data and using that data to analyse the effects that deregulation has had on the banking industry with respect to competition, efficiency and overall industry profitability.
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Sarr, Babacar. "Assessing public sector performance in developing countries : four essays on public financial management and public service delivery." Thesis, Clermont-Ferrand 1, 2015. http://www.theses.fr/2015CLF10465/document.
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Le secteur public joue un rôle important dans la société. Dans la plupart des pays en développement, les dépenses publiques constituent une partie importante du PIB et les entités du secteur public sont les principaux pourvoyeurs d’emploi et les principaux acteurs du marché des capitaux. Le secteur public détermine, généralement par le biais d'un processus politique, ses objectifs économiques et sociaux ainsi que les différents types d'intervention à mettre en place pour les atteindre. Comment le secteur public atteint ses objectifs constitue une question cruciale étant donné que sa taille et son importance économique en font un moteur principal de la croissance et du bien-être social. Ses performances sont jugées à travers la qualité et la nature de sa gestion des finances publiques, les infrastructures qu'il finance ainsi que la qualité de sa régulation des activités économiques. La manière dont les activités du secteur public délivrent les résultats attendus est ainsi une variable clé du développement; pourtant les études empiriques pour comprendre ce qui fonctionne dans le secteur public et pourquoi restent remarquablement limitées. Deux principales raisons expliquent cette situation: les performances dans ce secteur sont difficiles à analyser car les outputs des divers services qu’il fournit sont difficiles à mesurer et même à définir, et le manque de données quantitatives et qualitatives rend difficile une analyse économétrique rigoureuse.Dès lors, l’objectif de cette thèse est de documenter cette littérature et de proposer différentes méthodes empiriques pour évaluer les performances du secteur public dans les pays en développement. Notre analyse est organisée comme suit: la Première Partie - Chapitres 1 et 2 - présente deux essais sur l’évaluation des performances du secteur public “en amont” tandis que la Seconde Partie - Chapitres 3 et 4 - présente deux essais sur l’évaluation des performances du secteur public “en aval” Le Chapitre 1 fait usage de la technique de Blinder-Oaxaca pour examiner comment la qualité des institutions budgétaires affecte les performances budgétaires – déficit budgétaire et dette publique - en Afrique sub-Saharienne. Dans le Chapitre 2, nous utilisons une approche par le Synthetic Control pour étudier l'impact des Offices de Recettes sur la mobilisation des ressources publiques dans une vingtaine de pays en développement. Le Chapitre 3 présente un Benchmarking systématique des performances infrastructurelles de l'Afrique dans les secteurs de l'électricité, de l'eau et de l’assainissement, des technologies de l'information et de la communication, et des transports. Enfin nous évaluons, dans le Chapitre 4, les effets de la mise en place d'une Autorité Indépendante de Régulation sur les performances du secteur de l'électricité dans les pays en développementThe public sector plays a major role in society. In most developing countries, public expenditure represents a significant part of gross domestic product (GDP) and public sector entities are substantial employers and major capital market participants. The public sector determines, usually through a political process, the outcomes it wants to achieve and the different types of intervention. How the public sector achieves results matters as its size and economic significance make it a major contributor to growth and social welfare. Its achievements emerge in the quality and nature of its financial management, the infrastructure it finances and the quality of its social and economic regulation. How well those public sector activities deliver their expected outcomes is a key development variable; yet explicit evidence base for understanding what works and why in the public sector remains strikingly limited compared with other policy areas. There are two main reasons for this situation: the performance in these areas is difficult to analyze because the outputs of many such services are hard to measure or even to define, and the lack of quantitative and qualitative longitudinal data precludes rigorous econometric analysis.Therefore the objective of this thesis is to document this literature and to propose different ways of measuring public sector performance in developing countries. The dissertation is divided into two Parts: the first Part – Chapters 1 and 2 – presents two essays on “upstream” public sector performance while the second Part – Chapters 3 and 4 – presents two essays on “downstream” public sector performance. The Chapter 1 makes use of the Blinder-Oaxaca Decomposition to examine how the quality of budget institutions affects fiscal performance – Primary Balance and Public Debt – in sub-Saharan Africa. In Chapter 2 we use a Synthetic Control Approach to investigate the impact of Semi-Autonomous Revenue Authorities (SARAs) on revenue mobilization in twenty developing countries. The chapter 3 provides a first systematic Benchmarking of Africa’s infrastructure performance on four major sectors: electricity, water and sanitation, information and communication technologies, and transportation. Finally we evaluate the effects of the establishment of an Independent Regulatory Authority (IRA) on electricity sector performance in developing countries in Chapter 4
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Nimmanphatcharin, Nut-tapon, and nut_tapon@hotmail com. "Strategic management practices by selected Thai banks and financial organisations (database)." Swinburne University of Technology, 2002. http://adt.lib.swin.edu.au./public/adt-VSWT20050802.150105.
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In recent year, there has been virtually no research into the strategic management practices of the Thai financial services sector. The aims of this research is to explore the strategic management practices of the Thai financial services sector (both banking companies and non-banking companies), and also seeks to identify whether there are differences in the strategic management practices on the basis of size, business type, and ownership respectively. The findings from this research will provide a benchmark against which further research into strategic management in Thailand can be undertaken. The Thai economic crisis (approximately 1997 to 1999) has impacted very strongly on the Thai financial services sector, as evidenced by the reduction in the number of companies and the dramatic increase in non-performing loans. It is against this background, that this research investigates the strategic management practices (including the general environments, the immediate environments, the internal environments, the corporate strategies, and the planning and planning system) of the Thai financial services companies to gain an understanding of their strategic management practices (year 2000) and the changes to their strategic management practices. This research also examined the impact of both internal environmental factors and external environmental factors on the strategic management practices of the Thai financial services companies. The process for this research was based on a through literature review, an analysis of the industry, the development of a conceptual framework (building on prion research overseas), and the development of a survey approach based on personal interviews with carefully selected respondents. This research has selected all the companies in the Thai financial services sector (13 domestic banks, 5 major government banks, 33 foreign bank�s branches, 33 finance and securities companies, and 10 credit foncier companies) who survived the economic crisis in Thailand. In total of the 99 approached to participate companies, 71 (72%) Thai financial services companies participated in the survey, consisting of 26 finance and securities companies, 18 foreign bank�s branches, 13 domestic banks, 9 credit foncier companies, and 5 major government banks. In respect to the data analysis, both qualitative and quantitative methods were utilised in this study, using both univariate and multivariate techniques. Of the 71 companies who participated in this research, 80% (N=57) had a formalised strategic planning (FSP) system, which presented 94% of large companies, 100% of medium sized companies, which was 97% of banking companies and 63% of non-banking companies. Whereas, 72% of the small companies has no formalised strategic planning (NFSP) system which was 100% of credit foncier companies and 15% of finance and securities companies. This research also shows that only 6% of foreign majority ownership companies and 32% of Thai majority ownership companies in the Thai financial services sector did not have FSP system. Of the NFSP companies, 50% would implement a FSP system over the next five years. These findings show that the Thai financial services companies have adopted a fairly traditional approach to strategic management and rely heavily on formalised strategic planning system. For these reasons, the major focus of the analysis of this research is on the FSP companies. Of the FSP companies, define their strategic management as the process of sharing the organisational structure, the company�s resources, the company�s culture and managerial style, the company�s long-term goals, the company�s mission statement, the company�s strategies, the company�s planning, and the external environmental factors to build a market position strong enough and an organisational capable enough to achieve successful performance despite unforeseeable events, potent competition, and internal problems. This research shows that there are significant differences in the organisational structure, process, and system either for size, business type, and ownership aspects. Overall, the large companies that comprised most of the domestic banking companies with Thai majority ownership and the foreign bank�s branches believe they were more likely to be strategically managed through their structures, processes and systems than the other groups of FSP companies. The findings in this thesis shows that these banking companies identified a much clearer managing of planning and planning system which including corporate plans, second level long-term plans, planning�s objectives, planning�s roles, planning�s processes, planning�s coordination issues, planning�s structures than the other group of FSP companies. In contrast, of the NFSP companies, the strategic issues and strategies emerged from the vision of the CEO, whereas did not appear to have roles, objectives, etc. for their strategic issues identification and strategy development process, anywhere as clearly as the FSP companies identified for their planning. The evidence from this research shows that the FSP companies were more likely to consider they were strategically managed than the NFSP companies. This research has identified a schematic representation of the strategic management practices of the companies with a FSP system and a NFSP system. The results of this research enables a better understanding of the strategic management practices of the Thai financial services sector. Also, prospective researchers can use data and the conceptual model generated from this research to further develop the theories of strategic management and to explore whether meaningful differences occur between strategic management practices of other Thai industries and the Thai financial services sector. This research as the first significant study of strategic management practices for the Thai financial services sector, provides an important benchmark for future research e.g. strategic management practices of the Thai financial services companies in the next five years, how the Thai financial services companies seek to recover from the major economic crisis etc. Both further research and replication of this research would enhance a meaningful understanding of strategic management practices.
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Govindjee, Heetal. "The performance of initial public offerings on the JSE." Master's thesis, University of Cape Town, 2012. http://hdl.handle.net/11427/12071.
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Includes abstract.Includes bibliographical references.
This study examined the performance 60 initial public offerings listing on the JSE main board between 1 January 2000 and 31 December 2011. Significant underpricing of 10.1% and 8.5% was found to exist on the first day and during first week subsequent to the IPO. Underperformance of 14.17% was found using abnormal returns and 12.91% underperformance was found when holding period returns were calculated one year after the IPO.
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De, Luca Adriana. "An economic and financial analysis of Public Private Partnerships." Thesis, National Library of Canada = Bibliothèque nationale du Canada, 2000. http://www.collectionscanada.ca/obj/s4/f2/dsk1/tape3/PQDD_0008/MQ53146.pdf.
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Low, Gareth, and Fredrik Karlsson. "The Financial Effects of Going Public on Football Clubs." Thesis, Internationella Handelshögskolan, Högskolan i Jönköping, IHH, Economics, Finance and Statistics, 2015. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-27357.
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In this thesis we analyze the financial performance of Football clubs following an initial public offering (IPO). We conduct several analyses using time series stock data with a focus on finding evidence of long-run underperformance and IPO over/underpricing. To this end, we estimate cumulative abnormal returns (CAR) and Jensen’s Alpha. We also analyze coefficients such as beta to describe the volatility and the link football clubs’ stocks have to the general market. We look at historical events that may have affected the movement of stock prices and confirm this by benchmarking an index (STOXX index) compiled of a number of European football teams. Our results show that football clubs do in fact follow the clear pattern of other entities and sectors and previous research with regard to underperformance in the long run. We find that football clubs’ stocks are less volatile than the general market and have a low beta. With regards to over/underpricing, we only obtain data for a few football clubs. We find small signs of underpricing but are not able to confirm that this is statistical significant due to the size of our sample.
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Aina, Adebunmi Yetunde. "Financial management decision-making processes in public primary schools." Diss., University of Pretoria, 2017. http://hdl.handle.net/2263/65455.
Full textAbstract:
The South African Schools Act 84 of 1996 prescribes how schools should manage their finances and involve their stakeholders in financial management decision-making. The relevant literature reveals that principals in many schools situated in township and rural areas play a dominant role in the financial management of their schools which is contrary to the prescriptions of the South African Schools Act. This study aimed to identify financial management decision-making processes utilized in fee-paying public primary schools, the factors that influence financial management decision-making and the role and influence of individual stakeholders in financial management decision-making. The study followed a qualitative research approach with a multiple case study research design. Five fee-paying public primary schools were purposively selected. Participants included governing body chairpersons, principals and financial managers of the schools. Data was collected by means of semi-structured interviews and document analysis. The findings from the data suggest that financial management decision-making processes utilized in fee-paying public primary schools are: needs analysis, budget drafting and procurement processes. The study also reveals that members of school governing bodies (SGB) in fee-paying schools situated in affluence areas are educated professionals who, as required by the South African School Act, exert a strong influence in financial management decision-making in schools.Dissertation (MEd)--University of Pretoria, 2017.
Education Management and Policy Studies
MEd
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Aziz, Asmah Abdul. "Financial reporting by Scottish local authorities." Thesis, University of Aberdeen, 2000. http://digitool.abdn.ac.uk/R?func=search-advanced-go&find_code1=WSN&request1=AAIU603192.
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This research examines financial reporting by Scottish local authorities. Two particular aspects have been examined, namely audit lags and audit incidents. 65 local authorities were examined for the period 1989/90 until 1995/96. This period is classified as the pre-reorganisation period. Then the research continued by analysing audit lags and audit incidents for the 32 new postreorganisation local authorities for 1996/97 and 1997/98. The researcher used Luder's (1992) contingency model of public sector accounting innovations as a framework to analyse the stimuli for financial reporting changes in the Scottish local authorities. The effect of audit qualifications appears not to be a strong stimulus for the local authorities to improve financial reporting. The discussion on audit lags was divided into pre-reorganisation and postreorganisation periods. In addition, the ten local authorities in the Grampian and Tayside regional areas were studied for an additional 14 years. The results indicated that there was a persistent pattern among the local authorities in Scotland. The good performers were always good and the poor performers were always poor. Authorities like Angus DC managed to get an audit lag of around 4 months, while some local authorities took more than two years. Thus it is not impossible to get the accounts certified within four months. Audit incidents were classified into two categories, that is Audit Qualifications (AQ) and Comments Short of Audit Qualification (CSAQ). The performance among authorities varies tremendously. While some regional councils obtained very few audit incidents, some have many. Likewise some district councils have many and some have none. Islands appear to have more audit incidents. As proven by some authorities, getting a clean report is not impossible. Therefore it is important for local authorities to emphasise improving the audit lags and improving the quality of the accounts to obtain a clean report every year. Lengthy audit lag reflects inefficiency in management. This not only suggests weak internal control but also indicates that financial reporting is considered as a low priority task. Numerous audit incidents seem to signal that local authorities have not complied with all the rules and regulations. Repeated audit incidents imply that they were not serious in rectifying the situation. Reorganisation appears to disturb the ranking of the councils resulting in much longer audit lags in the last year of the abolished councils and the first two years after reorganisation. Thus, reorganisation contributes to longer audit lags and leads to numerous audit incidents, especially for 'limitation in audit scope'. Undoubtedly, Scottish local authorities should improve their financial reporting and their accountability to the public.
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Muller, Michael. "Underpricing on initial public offerings: further evidence from the JSE." Master's thesis, University of Cape Town, 2011. http://hdl.handle.net/11427/11056.
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This paper provides evidence of the existence of IPO underpricing on the JSE between 2000 and 2008. Average underpricing over the period was found to be 17.1 percent (median: 9.4 percent). In line with the general global decline in first day returns following the end of the internet bubble period, average underpricing on the JSE has decreased relative to previous studies.
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Addo, Baidoo Samuel Edwin. "Regulatory Effects on Traditional Financial Systems Versus Blockchain and Emerging Financial Systems." ScholarWorks, 2019. https://scholarworks.waldenu.edu/dissertations/7109.
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The expansion of the Internet led to disruptive business and consumer processes, as existing regulations do not cover the scope and scale of emerging financial technologies. Using organization economic theory as the foundation, the purpose of this correlational study was to examine and compare the financial regulatory impact on traditional and emerging financial systems across a variety of factors including organizational type, predicted users, operational concerns, reasons for cost increases, and changes in business practices as a result of the regulatory environment. Data were collected through a survey of 227 adult Americans who engage in the financial sector and are familiar with the US regulatory environment. Data were analyzed using descriptive statistics, cross tabulations, and statistical significance was tested using Lambda and Kendall's Tau c. The key finding of this study is that the effects of regulations are different for the traditional and emerging financial systems, showing the need to develop and implement policies that are context specific to the emerging financial systems. The recommendations from the study include suggestions to regulatory agencies to regulate and support emerging financial systems in line with new technology that envisions efficiency and economic fairness. The positive social change implications for this study include the development of a strategy that can ensure economic stability, reduce irregularities, and strengthen investments with a view of protecting the financial system from breakdown.
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Cam, Marie-Anne, and marie cam@rmit edu au. "The Impact of Terrorist Attacks on Financial Markets." RMIT University. Economics, Finance & Marketing, 2008. http://adt.lib.rmit.edu.au/adt/public/adt-VIT20080731.102528.
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This thesis investigates the impact of terrorist attacks on equity financial markets. It employs traditional event study approaches to identify and measure stock market reactions to terrorist attacks in New York on September 11, 2001, and subsequent terrorist attacks in Madrid, London and Bali. Three studies are presented. The first study investigates the impact of September 11 on the tenant firms within the World Trade Centre. The second study investigates industry effects following the Madrid and London bombings. The third study undertakes a sensitivity analysis to different event study techniques over the various terrorist attacks. The results from the three studies suggest that equity markets can remain efficient in the wake of terrorist events. Terrorist events can trigger large abnormal movement in both equity prices and volume traded. These price and volume effects are influenced by industry effects. Terrorism has a differential impact on stock markets and industry portfolios within stock markets. The detailed analysis presented in this thesis can be used to exploit that industry effect and can be employed to guide diversification strategies that could minimize terrorist risk through industry diversification. The thesis has also evaluated alternative event study methods and produced a critical analysis of event study methodology. It shows clearly that methodological choices can and do significantly influence results. The thesis contributes to eliminating some uncertainty about the markets response to terrorist events, and identifies opportunities for reducing terrorist risk in stock markets.
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Kelly, Sonja E. "Why financial inclusion policy and regulation?" Thesis, American University, 2016. http://pqdtopen.proquest.com/#viewpdf?dispub=10103328.
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This dissertation examines the reasons why low- and middle-income countries adopt financial inclusion policy and regulation. It does so starting with a quantitative model and ending with a comparative case study of the India and Mexico contexts. The quantitative model finds evidence that financial inclusion policy and regulation follows a state’s capacity and a state’s engagement with international organizations and peer states. The case of Mexico complicates these findings, challenging the causal direction of engagement with international organizations—Mexico uses international organizations both to emphasize the importance of financial inclusion policy and regulation within the country and to champion its position in the international community. The outlier case of India shows the prioritization of social inclusion at its extreme, displaying the role a social inclusion framework played even decades ago in creating a more inclusive banking sector. The dissertation concludes by articulating a road map for future scholarship, building on practitioner and international organization enthusiasm for the topic.
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Porter, Nancy M. "Testing a model of financial well-being." Diss., Virginia Tech, 1990. http://hdl.handle.net/10919/39899.
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This study was designed to empirically test a conceptual model and measurement of financial well-being as a function of (a) personal characteristics; (b) objective attributes, quantitative indicators of the financial domain and financial management behaviors of respondents; (c) perceived attributes, subjectively assessed life conditions and perceptions of financial situation; and (d) evaluations of financial situation using various reference points as standards of comparison. Two sub-problems were investigated in the study: (a) Which group of attributes, personal characteristics, objective attributes, perceived attributes, or evaluated attributes, significantly explains variance in perceived financial well-being?; and (b) Which individual attributes significantly explain variance in perceived financial well-being?
A mail survey was conducted from October of 1989 through January of 1990 with a randomly selected sample of Virginia citizens (N = 1,500). After an initial mailing and two follow-up mailings, 529 questionnaires were returned of the 1,450 that were received by respondents, providing a 36.5% total return rate (529/1,450). Twenty-three questionnaires were blank or unusable, yielding a useable return rate of 34.9% (506/1,450). Demographic characteristics of the sample were similar to those of the population of Virginia citizens.
Financial well-being, as measured by an adaptation of Cantril's (1965) 11-point self-anchoring striving scale, was the dependent variable. All of the independent variables regressed on the dependent variable produced an R 2 of .71, which was statistically significant (p < .01). Removing each group of attributes individually from the regression equation resulted in a significant (p < .01) decrease in the resulting adjusted R2s as computed by F ratios. All attribute groups were determined to be essential to the measurement of financial wellbeing.
Individual variables with a significant t ratio (p < .05) were the Perceived Attribute Index, Index of Well-Being, and full-time employment status. The results of the study supported the conceptual model. Results clearly verified the measurement of financial well-being as a function of personal characteristics, objective attributes, perceived attributes, and evaluated attributes.Ph. D.
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Reck, Jacqueline L. "The usefulness of financial & nonfinancial performance accountability information in resource allocation decisions /." free to MU campus, to others for purchase, 1996. http://wwwlib.umi.com/cr/mo/fullcit?p9737879.
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Kremers, Jeroen Joseph Marie. "On the determination and macroeconomic consequences of public financial policy." Thesis, University of Oxford, 1986. http://ora.ox.ac.uk/objects/uuid:a8c0cb20-b178-4e80-9a46-fcb1079a4a9f.
Full textAbstract:
This study develops a theoretical framework for the analysis of regular patterns in public financial behaviour, and applies that framework in an empirical assessment of budgetary policies in the United States and in the Netherlands. Its purpose and scope are threefold. First, it sheds theoretical light on economic considerations guiding public financial behaviour in a dynamic model of optimal taxation. The resulting idea, that it may be sensible to smooth taxation over time,is subsequently extended to a more general model of the public finances, which involves spending, taxation, debt and money creation in an effort to control the government budget. Second, using modern econometric methods the practical relevance of this model is illustrated with estimations for the United States and the Netherlands. Third, the model is sufficiently flexible to allow for a number of more institutional insights. In this respect the emphasis is placed on the Dutch economy and public finances. The thesis thus engages economic theory, econometric technique and institutional and macroeconomic background in a combined effort to understand and evaluate regular patterns in public financial behaviour. Its findings have implications for each of these three areas of economic interest.
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Jordaan, Johan. "Public financial performance management in South Africa : a conceptual approach." Thesis, University of Pretoria, 2013. http://hdl.handle.net/2263/24808.
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The South African Government’s service delivery initiatives do not guarantee quality of life for all citizens of South Africa. An active challenge faced by researchers and practitioners, who do not have adequate solutions available, is based on the fact that government departments are not able to say what they have achieved; only what they have done. The aim of this study was to develop a conceptual approach or framework for public financial performance management, which will pave the way for operational and line managers in public financial management towards world-class performance with specific reference to effectiveness and service delivery outcomes. The contextualisation of public administration highlights the scientific foundations of public administration and the continuous development of administrative theories and growing administrative thought within the discipline of Public Administration. The development of public administration proves to be dynamic with the emphasis on future trends and emerging concepts of public management and good governance and the need for more efficient and effective service delivery. The state's role has changed from hands-on management and direct delivery of goods and services to the facilitation of an enabling environment, which provides a framework for private sector participation. Successful development programmes hinge on the effective economic policies, good governance and financial performance management of the facilitator. Due to the fragmentation of policy responsibility in society, the traditional mechanisms of governmental control are no longer workable, or even appropriate. Control is giving way to interaction and involvement with critical implications for the operational manager’s ability to manage, but still to be accountable. The future role of government will be based on governance and stewardship, which can create an enabling environment for all its citizens to enjoy a good life. Derived from an analysis of the public administration environment, the magnitude of the challenges and the tasks facing African countries, African governments and other stakeholders, especially the international community, must establish capacity to deal with a dynamic and changing environment. A systematic and holistic approach will be needed for the implementation of policy in order to become more effective and responsive to the needs of society. The role of governance as the ideal platform allows for an interactive relationship between the public financial management system and the budget process to be facilitated by various role players in different relationships. Interaction is based on the concept of getting the basics right and is also aligned with the public financial management system as a series of realistic platforms to accommodate the multiple role players. The result is a financial system that provides the opportunity for financial performance management and effective and optimal budget outcomes. A high-performing public-sector organisation is results-driven with a sound public financial management system, which allows the government to make the best use of all available resources. This type of organisation will meet the quest to efficiently and effectively utilise public resources to meet the needs of the community in an equitable manner. Public financial performance management must be viewed as the next logical evolution of the field of public management. Public financial performance management must be viewed as an essential component of successful management. This is cultural, operational and human resource management change. The transition will require recognition that rationality is the underlying force of performance management. The development of public financial performance management capacity is a means and not an end in itself; it is an integral part of the overall development agenda. Consequently, a capacity development strategy must be based on a broader vision of improved financial performance management and increasing organisational effectiveness leading to good governance. While country ownership is critical, the capacity development efforts have to be tailored to match the existing human resources, institutions, legal system, as well as the administrative and political culture. The drive for capacity development should transcend the mode by which it is to be delivered.Thesis (PhD)--University of Pretoria, 2013.
School of Public Management and Administration (SPMA)
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Ševčíková, Kateřina. "Public Private Partnership." Master's thesis, Vysoká škola ekonomická v Praze, 2009. http://www.nusl.cz/ntk/nusl-76594.
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Main subject of my diploma thesis is an actual situation in application of Public Private Partnership in both the Czech Republic and Europe. Firstly, the main characteristics and a general process of creating PPP project are described. Risk management, one of the most important aspects of PPP is a subject for the second chapter. Furthermore, I analyse the approaches to the application of PPP from the view of the crucial European institutions such as European Commission and European Investment Bank, especially I am concerned about their reactions to the Global financial crises. My thesis includes the analyses of the PPP markets in both Great Britain and France. Lastly, the situation of PPP market in the Czech Republic is examined, and a business case about just emerging local PPP project is included.
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Alhama, Frédéric. "L'intérêt financier dans l'action des personnes publiques." Thesis, Paris 1, 2016. http://www.theses.fr/2016PA01D049.
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L’élément financier est un élément fondamental de l’action publique. En effet, pour pouvoir assurer leurs missions de service public, les personnes publiques ont besoin de ressources monétaires suffisantes. Cette idée est aujourd’hui indiscutée. Pourtant, on observe qu’il subsiste un réel malaise sur le point de savoir s’il est souhaitable que lesdites personnes puissent agir en vue de satisfaire leurs propres intérêts financiers. Cet embarras tient pour beaucoup au fait que les malentendus qui ont longtemps obscurci l’analyse des rapports qu’entretiennent entre eux l’intérêt financier des personnes publiques et l’intérêt général n’ont pas tous été parfaitement dissipés. La clarification de ces rapports fait apparaître que l’intérêt financier des personnes publiques, quoique n’étant jamais un intérêt privé, ne doit pouvoir être traité comme un intérêt général dans les diverses hypothèses concrètes où l’administration entend le satisfaire qu’à la condition qu’il n’en résulte pas d’inconvénients excessifs pour les autres composantes de l’intérêt général, voire pour des intérêts purement privés jugés dignes de protection. L’intérêt financier doit donc être concilié à divers autres intérêts, publics et privés. Cette conciliation ne s’opère pas identiquement selon que l’administration prend en charge une activité dans un but financier ou qu’elle tient seulement compte de la dimension financière d’une activité dont le but n’est pas financierThe financial element is a fundamental component of public policy. Indeed, in order to ensure their public tasks, public entities need sufficient monetary resources. This idea is now undisputed. Yet we observe that there remains a real unease about whether it is desirable that these entities can act to satisfy their own financial interests. This embarrassment is largely due to the fact that the misunderstandings that have long obscured the analysis of the relationships that these financial interest of public persons and the general interest have not all been completely dispelled. The clarification of these reports shows that the financial interest of public figures, although still standing still a general interest in principle, should be treated as such in the various concrete cases in which the administration intends to satisfy it only provided it does not result in unnecessary inconvenience for the other components of the public interest or for purely private interests worthy of protection. The financial interest must be reconciled with various other interests, public and private. This reconciliation does not operate identically as the administration supports an activity in a financial goal or that it takes into account only the financial dimension of an activity whose purpose is not financial
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Wan, Yue. "The Global Financial Crisis: Impacts on SMEs and Government Responses." Thèse, Université d'Ottawa / University of Ottawa, 2011. http://hdl.handle.net/10393/20078.
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This research examines the recent global financial crisis’ (GFC) impact on small- and medium-sized enterprises (SMEs) and analyses governments’ responses. According to most literature, SMEs already faced obstacles prior to the GFC, such as paying high taxes, overcoming low profitability, being affected by rising business costs, finding qualified labour, dealing with increasing competition, etc. The GFC has had serious repercussions for SMEs with respect to financing, markets, and liquidity. In order to explore in depth the governments’ responses, qualitative methods are employed to test the following three research questions: 1) To what extent did governments aim to assist SMEs to survive the GFC? What types of programs have been implemented to address new and existing obstacles? 2) Did governments apply appropriate strategic initiatives to realize their goals? If the initiatives could not achieve the governments’ original goals, what obstacles did they address? 3) Did governments tend to help SMEs more after the GFC? Did governments give up on disadvantaged firms or did they try to help them survive the crisis? Analysis revealed that, as a result of the GFC, governments developed programs aimed at new obstacles and at some of the existing ones. The aims did not differ materially for developed and less-developed economies. Financing and taxation programs tended to be designed to achieve their goals directly, where other programs tended to achieve them in a more indirect manner. Overall, government initiatives covered most of the serious obstacles faced by SMEs and government assistance programs aimed at SMEs tended to have been augmented in light of the GFC.
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Rangongo, Paul. "Role players' understanding of public school principals' legal responsibilities regarding financial management in Limpopo." Thesis, University of Pretoria, 2016. http://hdl.handle.net/2263/60974.
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Financial management is a very complex issue; at the dawn of democracy the full responsibility for the financial management in public schools was given to school governing bodies. The governing body usually asks the school principal to act as finance manager who executes the financial responsibilities on a daily basis. This puts the principal in a precarious position. The research investigates the role players' understanding of the public school principals' legal responsibilities regarding financial management in Limpopo province. It looks at how the school principals, finance officers and the departmental officials perceive the public school principals' understanding, interpretation and application pertaining to his or her legal responsibilities. It further looks at the knowledge of legislation, reporting of financial expenditure at school level, reporting of financial irregularity cases found in schools, as well as the legal responsibility of financial accountability.
A predominantly qualitative research approach with nominal application of the quantitative approach, an interpretive paradigm and multiple case studies allowed the researcher to gain an in-depth understanding of how various role players view or perceive the public school principals' legal responsibilities regarding financial management. I interviewed six principals, six finance officers and six departmental officials about their understanding of the public school principals' legal responsibilities regarding financial management in Limpopo Province. A total of 53 principals, 22 finance officers and four departmental officials successfully completed a questionnaire about their understanding, perceptions and experiences of the public school principals' stipulated legal responsibilities regarding financial management. All these people were involved in the day-to-day management and administration of funds in public schools. Documents such as finance policies, finance files, minute books, school budgets and audited financial statements were analysed to build a clear picture of the state of financial management in the selected public schools.
Findings from this study are that there are vast differences in how various role players understand and interpret the public school principals' legal responsibilities regarding financial management in Limpopo. The rationale for having the legislation is to make things uniform and give guidelines. There is a lack of implementation of legal responsibilities by principals who sometimes experience fear of intimidation and victimisation and threat from teacher unions defending their members, SGB and the community. There is lack of knowledge of legislation and sheer ignorance of the law. There are misconceptions that principals in South Africa are accounting officers for everything happening in their respective schools. I found misconceptions of the principals' responsibilities of reporting the financial expenditure and financial mismanagement cases which are not reported, but resolved in schools. There is a culture of non-accountability, non-adherence to prescripts as a result of limited knowledge of legislation, expertise and experience of the principal in financial management.
The study has unearthed a number of challenges that are serious concerns for the role players such as the principals, finance officers and the departmental officials regarding financial management. These include issues such as limited understanding, interpretation and application of the law, inadequate knowledge of legislation and financial skills, ignorance of policy and legislation, lack of transparency and openness when dealing with public finances, signing of blank cheques, intimidation, threats and victimisation from victims, teacher unions' interference in the appointment of principals, a lack of proper monitoring and control of expenditure at school level by the principal as well as by departmental officials from circuit level up to provincial level characterise school financial management. Much work remains to be done to close the gaps identified and to make financial management in South African public schools even better.
The findings of the study have led to recommendations to assist public school principals, finance officers, school governing body members and departmental officials to understand the legal responsibilities of the principal in this regard better. The recommendations include models for the understanding principals' legal responsibilities in financial management, internal financial control and monitoring in public schools by holding principals accountable for the use of every cent in the schools. Other recommendations include intensive training and capacitating, compliance with legislation and the centralisation of auditing of public school financial books.Thesis (PhD)--University of Pretoria, 2016.
Education Management and Policy Studies
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James-Yates, Sylvia May. "Detection of misrepresentations in graphics in the public domain." Thesis, University of Bristol, 1998. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.264063.
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Papanicolas, Irene. "The new NHS : financial incentives for quality?" Thesis, London School of Economics and Political Science (University of London), 2011. http://etheses.lse.ac.uk/144/.
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In April 2002, five years after the Blair government’s proposals to create a ‘New NHS [National Health Service]’, the government outlined the key priorities that would mark the NHS reform. The main reforms involved patient choice supported by a system of ‘Payment by Results’ (PbR) under which hospitals would be funded on the activity they undertook. PbR is a case based payment system, a type of system increasingly being adopted as the main form of provider payment across industrialised countries. The literature on this type of payment system and experiences from other countries identifies many di!erent behavioural incentives that can have both positive and negative impacts on quality of care. This thesis investigates the quality implications observed so far in England, for seven conditions which represent a spectrum of important clinical areas that are admitted through both emergency and elective admissions. In order to identify changes in quality, this thesis first considers how to construct an appropriate measure of quality. The first part of the thesis utilizes two di!erent methodological techniques used for quality measurement; a latent variable approach and a technique put forward by McClellan and Staiger (1999) using Vector Autoregressions. The results from these techniques indicate that quality measurement approaches di!er markedly with regards to how much measurement and systematic error they are able to filter out of raw outcome data. Finally, the new indicators created by these techniques are used to evaluate the quality impact the introduction of PbR as the main form of hospital payment has had in England. The analysis indicates that since the policy’s implementation, there have been di!erential quality e!ects on the di!erent conditions. However, for the most part this indicates an improvement in mortality outcomes, and a reduction in the variation of outcomes across hospitals. As found, the interpretation of readmissions has to be approached with caution as more severe patients being kept alive through quality improving measures on mortality create more mixed signals for the readmission indicators. In two conditions we find changes in activity that are indicative of e"ciency gains, in the form of better coding and adoption of new technology, both as a result of differences in reimbursement categories.
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Hamilton, S. Keith. "A financial decision support system for U.S. Navy public works departments." Thesis, Monterey, California. Naval Postgraduate School, 1989. http://hdl.handle.net/10945/27055.
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Goddard, Andrew Richard. "Financial and organisational control in the public sector : a paradigmatic exploration." Thesis, University of Southampton, 1997. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.241941.
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Oppenheim, Thomas Kurt. "A public sector financial dream--New York's Battery Park City development." Thesis, Massachusetts Institute of Technology, 1990. http://hdl.handle.net/1721.1/69528.
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Lee, Priscilla P. (Priscilla Pui Si) 1978. "Comparison of public and private water utility financial and management strategies." Thesis, Massachusetts Institute of Technology, 2001. http://hdl.handle.net/1721.1/17513.
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Thesis (M.Eng.)--Massachusetts Institute of Technology, Dept. of Civil and Environmental Engineering, 2001."June 2001."
Includes bibliographical references (leaves 62-64).
Recently, there has been a growing trend towards public-private partnerships and privatization in the water supply industry. However, the benefits of public-private partnerships and privatization are not clear. In order to better understand the consequences of the shift towards the private sector, one must recognize the different approaches used by each sector. This study compares the financial and management strategies of the public and private water utilities. The various strategies are presented through six case studies of public and private water utilities in the United States. Each study focuses on the capital investment program, financing sources, and management practices of each utility. A financial analysis of each utility is performed to support the case study. Eight financial ratios are used to evaluate the utilities' financial leverage, efficiency and liquidity. Finally, some general conclusions about the different approaches used by each sector are discussed.
by Priscilla P. Lee.
M.Eng.
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Elekwachi, Philip Nwaogazie. "Perceptions of Financial Bribery and Kickbacks on Nigerian Healthcare Public Policy." ScholarWorks, 2019. https://scholarworks.waldenu.edu/dissertations/6324.
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Financial bribery and kickbacks are characteristics of corruption that are considered a serious threat to healthcare development in Nigeria. The influence of corruption leads to financial waste and negative health consequences for citizens. High demand for quality healthcare and other socioeconomic development infrastructures in the rural areas of the state provide opportunities for misappropriation of allocated healthcare development funds. Using Kingdon's multiple streams theory as the foundation, the purpose of this case study of a single city in Nigeria was to understand how state and city legislators and health administrators perceive the influence of corruption on senior healthcare development, its service delivery, and the lives of residents. Data were collected through interviews with 15 individuals representing older adult participants, state and city legislators, and healthcare administrators and publicly available government data. Following a root cause analysis framework, these data were inductively coded and subject to a thematic analysis procedure. Identified key themes from the study findings were (a) healthcare services, (b) poor infrastructure, (c) poverty, (d) healthcare cost, (e) government and corruption, (f) unpaid wages, (g) health centers, and (h) public and private hospitals. The positive social change implications stemming from this study include recommendations to National Health Insurance Scheme to formulate policies that may improve quality healthcare service and delivery, improve communication between local government and residents, and reduce the high out-of-pocket cost of healthcare. These recommendations may enhance healthcare provider insight on equal healthcare access to seniors and the entire rural community.
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Theletsane, Kula Ishmael. "The legislative oversight bodies in ensuring public financial accountability and responsibility." Thesis, University of Pretoria, 2014. http://hdl.handle.net/2263/40269.
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Although endowed with rich oversight bodies, policies and Acts, the state of financial
management in South African government departments is illustrated in a number of
clean qualified audits. The media and the Auditor-General’s report are continuously
reporting on arbitrary financial practices, corruption, fruitless expenditure, tender
rigging and inability to spend allocated funds to mention a few of the problems
government experiences in its financial management. Financial management in the public service, if not addressed holistically, may hamper, rather than assist,
government departments with the speedy delivery of services.
The research study questioned the extent to which the legislative oversight bodies
successfully ensure public financial accountability and responsibility. The objective of
this study was not to evaluate the performance of institutions or any public financial
management offices, but rather to assess the capacity of the public financial
management systems themselves to support sound fiscal policy and financial
management.
The Constitution requires members of the Cabinet to provide Parliament with full and
regular reports concerning matters under their control. The Constitution further requires
the legislature to provide for effective mechanisms of oversight and to ensure that
executive organs of state in government are accountable to the legislatures. There are
instances where parliamentary committees’ reports and recommendations were
ignored by government departments. Such actions can be a threat to democracy and
good governance. Therefore Parliament and the legislature have a critical role to play
in overseeing effective performance by all organs of state. Results of the study indicated that the turnover rate of members of parliamentary
committees such as Standing Committee on Public Accounts remains a challenge and
this impact the effectiveness of these committees. The results also revealed that it is a
challenge to retain the directors-general in most government department. High turnover
rate of directors general is a challenge as directors-general are accounting officers of
Government departments. High turnover rate of directors-general could bring a
perception that there is a lack of accountability and could be seen as threat to the
democracy.Thesis (PhD)--University of Pretoria, 2014.
gm2014
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Oluwadare, Emmanuel Omolaja. "Influence of culture and accounting infrastructure on Nigeria public financial accountability." Thesis, Leeds Beckett University, 2015. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.666334.
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Leonard, Larry Eugene Hickrod G. Alan. "An index of financial difficulty for Illinois public schools and its relationship to selected demographic and financial variables." Normal, Ill. Illinois State University, 1985. http://wwwlib.umi.com/cr/ilstu/fullcit?p8514777.
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Thesis (Ed. D.)--Illinois State University, 1985.Title from title page screen, viewed June 8, 2005. Dissertation Committee: G. Alan Hickrod (chair), Mary Ann Lynn, Ramesh B. Chaudhari, David Franklin, Fred Bradshaw. Includes bibliographical references (leaves 114-117) and abstract. Also available in print.
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Marashdeh, Hazem Ali. "Financial integration of the MENA emerging stock markets." Access electronically, 2006. http://www.library.uow.edu.au/adt-NWU/public/adt-NWU20061025.155946/index.html.
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Thesis (Ph.D.)--University of Wollongong, 2006.Typescript. "Middle East and North Africa (MENA) region, namely, Egypt, Turkey, Jordan and Morocco." -- Abstract. Includes bibliographical references: leaf 247-261.
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Paudel, Ramesh Chandra. "Financial liberalisation in Sri Lanka an econometric analysis /." Access electronically, 2007. http://www.library.uow.edu.au/adt-NWU/public/adt-NWU20080124.115257/index.html.
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Rehman, Shafiq ur. "The effect of the recent financial crisis on the financial and investment policies of UK private and public firms." Thesis, University of Liverpool, 2012. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.570631.
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Abstract The recent financial crisis, sparked as a result of the subprime market in the United States, is regarded by many researchers as the most severe financial crisis to happen since the Great Depression. This crisis has raised the important issue of the spill-over effect of the financial crisis into other sectors of the economy. However, evidence of the effect on firms' behaviour with respect to their financing and investment decisions is limited, and the existing research has mainly concentrated on the publicly listed firms in the US. It is also evident from the findings of existing published studies that the majority of studies do not reach a unanimous conclusion (Alien and Carletti 2008; Bakke 2009; Duchin, Ozbas and Sensoy 2010; Leary 2009; Lemmon and Roberts 2010; Lin and Paravisini 2010 a). Further, the focus of the majority of the existing studies is very narrow with respect to the components of capital structure. As a result, it is not clear from the existing literature which component of the capital structure is more sensitive to credit supply contractions than any other. Moreover, accounting regulations, financial reporting requirements and institutional features are different between the US and the UK, which high!(gl1Js the need for more research in this area. In addition, no systematic investigation into the financing and investment decisions of private firms during the crisis has ever taken place in the UK. The main purpose of this study is, therefore, to investigate the financial and investment decisions of both private and public listed finns during the time of the recent financial crisis in the UK. More specifically, this study investigates whether shocks to the supply of credit affect firms' leverage and determines which components of capital structure are affected by credit supply contractions. Further, the study investigates how firms manage their finances during a crisis period. In other words, how firms minimize the effect of credit contractions by resorting to alternative sources of finance such as internal funds, net debt issues, net trade credits and net equity issues. The study also examines whether firms manage their dividend payouts to maintain their financial slack. Finally, the study investigates the effect of the credit crisis on firms' performance and investment decisions. To investigate these issues, the study adopts a comprehensive strategy which consists of three elements, namely, identification of exogenous credit crisis, the use of film fixed effects model and the use of firm level control variables. Data for the analysis are extracted from the FAME and the Datastream databases for the period 2004-2009. A total of 4973 private firms are extracted from the FAME database and 2039 public firms are extracted from the Datastream database. The fixed effects analyses highlight that the financial crisis has adversely affected the total debt ratios of both types of firms. This effect is most significant on the short-term financing channel (such as short-term debt and trade credit) in the sample of private firms; while it is the trade credit channel that is negatively affected by the credit crisis in the sample of public firms. The effect on long-term and short-term debt is statistically insignificant in the sample of public firms. There are also differences in the way both types of firm responded to the credit crisis. Private firms, for example, issued more equity and held cash in response to the credit shortage. These firms do not move to net debt issues and net trade credits; nor do they adjust their dividend payout policies during the crisis period. The results further reveal that public firms use more internal funding and repurchase equity in response to the credit drought. These firms also reduced dividend payout to preserve their financial slack. In addition, public firms do not change to net debt issues and net trade credits in response to the credit supply shocks. Moreover, the results reveal that the performance and investment of both types of firm are adversely affected by the credit crisis. This highlights that the inability to obtain external credit and the relative lack of substitution towards alternative sources of finance have negatively affected the performance and investment of both types of firm. Further, in the private firms' sample, the increase in cash holdings and decline in investment suggest that funds raised through the equity issue may have been used to fmance the cash holdings of these firms. In the public firms' sample, decrease in cash reserve, dividend payout and investment in tangible assets suggests that internal funds may have been used to fmance the equity repurchases. Overall, the results suggest that financial and investment policies of private and public firms are sensitive to the credit supply shocks. 11
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Marques, Marisa de Moura. "Application of economic-financial ratios in the organization of the financial planning within a public enterprise: the EPTS case." Universidade de Taubaté, 2004. http://www.bdtd.unitau.br/tedesimplificado/tde_busca/arquivo.php?codArquivo=45.
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The necessity of seeking for the balance of public accounts has fostered administrative, social welfare and tributary reorganization, aiming at improving efficiency in public administration. In order to achieve an efficient administrative pattern, it is necessary to follow and measure costs thus generating information which subsidizes the reliable planning of a budget, in both direct and indirect public administration and also in organizations which have government participation in the control of shares, i.e., State owned enterprises. The Service, Technology and Research Company EPTS of the Universidade de Taubaté, a state owned enterprise based on the legislation of private enterprises, and with a revenue receipt resulting mainly from services performed to the
Universidade de Taubaté (UNITAU), municipal autarchy, needs to meet efficiency and efficacy expectations in order to justify its foundation. Every year the budget of EPTS
increases due to the rise in products requested by UNITAU, such as new researches and investments, resulting from new and diversified academic courses and also by the maintenance of the whole organizational structure. This work aims at analyzing and demonstrating the need for elaborating and implementing a Financial Planning System in the EPTS, similar to those used within private enterprises. The model proposed has as its basis the use of economic-financial indexes, which will allow the company to define future activities and provide administrators with all essential information they need in order to make financially effective decisions.A necessidade de buscar o equilíbrio das contas públicas provocou reformas administrativas, previdenciárias e tributárias, com a intenção de aumentar a eficiência na gestão pública. Para se obter um modelo de gestão eficiente, é necessário acompanhar e mensurar os custos de forma a possibilitar informações que subsidiem o planejamento seguro de um orçamento, seja na administração pública direta, seja na indireta e entidades parestatais, no caso, empresas públicas. A Empresa de Pesquisa, Tecnologia e Serviços da Universidade de Taubaté, empresa pública de direito privado conforme legislação pertinente, e com receita advinda em sua maioria de produtos gerenciados para a Universidade de Taubaté, autarquia municipal, necessita atender às expectativas de eficiência e eficácia para justificar a sua criação. A cada ano, o orçamento da Empresa de Pesquisa, Tecnologia e Serviços da Universidade de Taubaté (EPTS) é incrementado pelo aumento de produtos requisitados pela Universidade de Taubaté (UNITAU), por novas pesquisas, novos investimentos, decorrentes de novos e diversificados espaços acadêmicos, e pela manutenção de toda a estrutura organizacional. Este trabalho objetiva analisar e demonstrar a necessidade de elaboração e implantação, na EPTS, de um sistema de Planejamento Financeiro similar aos utilizados em empresas privadas. O modelo sugerido tem como base a utilização de índices econômico-financeiros que permitirão à empresa definir as atividades futuras e fornecer aos gestores as informações imprescindíveis para tomada de decisões eficientes financeiramente.
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Maier, William E. "A descriptive study of demographic financial factors and the perceived financial life satisfaction of retired Oregon public school administrators." PDXScholar, 1985. https://pdxscholar.library.pdx.edu/open_access_etds/783.
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The main purpose of this study was to develop a demographic/financial profile of retired Oregon public school administrators and to determine the relationship between these profile factors and the degree to which financial needs are met, the level of perceived financial satisfaction, and the level of perceived life satisfaction. Another purpose was to define those financial issues which impact the retired administrator and would be helpful in developing guidelines useful for pre-retirement planning and education. The subjects selected for the study were the 295 retired Oregon public school administrators known to the Confederation of Oregon School Administrators who had retired prior to September 1984. Thirty-two questions were asked in an attempt to gather data regarding three major areas: biographical information, financial information, and perceptions of financial/life satisfaction. A total of 198 or 67% of the retired administrators surveyed returned a completed survey instrument. Based upon the results, a demographic/financial profile evolved for the sample population. Moreover, a significant relationship was found to exist between sex, health rating, the ability to keep pace with inflation and the degree to which financial needs are met. Sex, health rating, the level of pre-retirement income, the ability to keep pace with inflation and the point at which retirement planning began were found to relate significantly with the perception of financial satisfaction. A significant relationship was also found to exist between health rating, the level of pre-retirement income, the ability to keep pace with inflation and the perception of life satisfaction. The degree to which financial needs are met related significantly with the perception of financial satisfaction and perception of life satisfaction. Finally, a significant relationship was also found to exist between the perception of financial satisfaction and the perception of life satisfaction.
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Asci, Ceylan Cemre. "Do Public-to-Private Leveraged Buyouts Result in Improved Operating Performance? Evidence from the United Kingdom." Master's thesis, Faculty of Commerce, 2019. http://hdl.handle.net/11427/31560.
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This study investigates the changes in the operating performance of public-to-private leveraged buyouts (LBOs) backed by one or more private equity firms. For this purpose, this dissertation focuses on a sample of 65 completed public-to-private LBOs in the United Kingdom, which were finalised between 2003 and 2015, and exited by 2018. Specifically, the changes in operating performance in terms of EBITDA/sales, EBIT/sales and EBITDA/total assets, as measured directly and relative to the industry median, before the LBO and at exit by the equity provider, is analysed. A regression methodology from the literature is used to determine the impact of various transaction and company-specific attributes on operating performance changes, based on the shareholder-related agency costs and free cash flow/benefits of debt theories. Surprisingly, the overall picture indicates a negative operating performance change of going-private LBOs in the post-buyout period. The main factors explaining the changes in operating performance seem to be changes in leverage. On the other hand, the hypotheses relating to improved management incentives and improved shareholder monitoring are not supported by the results, as these factors seem to have little to no effect on the operating performance changes related to the public-to-private LBOs in the sample.
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Neill, Jon Patraic. "Credit Default Swaps Regulation and the Use of Collateralized Mortgage Obligations in U.S. Financial Institutions." ScholarWorks, 2011. https://scholarworks.waldenu.edu/dissertations/1135.
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The fast and easy global movement of capital throughout the financial system, from lenders to borrowers and through intermediaries and financial market participants, has been recognized as a source of instability associated with illiquidity and financial crises. The purpose of this research was to better understand how regulation either enables or constrains capital movement. The theoretical framework comprised 2 contrasting public policymaking models, Arrow's rational-comprehensive model and Kingdon's garbage can model, which were used to derive opposing hypotheses. The research question addressed the nature of the relationship between Credit Default Swaps (CDSs) regulations and the flow of capital into Collateralized Mortgage Obligations (CMOs) when lenders share their borrower-related loan risks through intermediaries with other market participants. This quantitative study was a quasiexperimental time series design incorporating an autoregressive integrated moving average (ARIMA) model using secondary data published by the U.S. government. The 2 independent variables were regulatory periods involving 2 CDSs regulations and the dependent variable was capital in the U.S. financial system that is deployed to CMOs. The Commodity Futures Modernization Act of 2000's ARIMA model (1,2,1) was significant at p < .05 and was negatively correlated to the Emergency Economic Stabilization Act of 2008's ARIMA model (1,1,0), r = -.91, n = 18, p < .001. These results suggest that regulations cannot be relaxed and then reinstated with predictable results. The potential for positive social change is from stable financial institutions that mutually benefit depositors and borrowers.
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de, Souza Motta Celina Maria. "Constitutional change in Brazil : political and financial decentralisation, 1981-1991." Thesis, London School of Economics and Political Science (University of London), 1995. http://etheses.lse.ac.uk/2839/.
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The aim of the present study is to investigate how and why a country facing issues that needed to be tackled nationwide chose to decentralise political power and financial resources when it moved from military rule to redemocratisation. Furthermore, the study examines whether the decision to decentralise taken in Brazil in the period 1981-1991 has changed the allocation of public expenditure at sub-national level, especially to education. By analysing the decision to decentralise and its results at the sub-national level, the study embodies both an upstream and a downstream approach. The upstream approach encompasses the topics related to decentralisation in the Brazilian Constituent National Assembly that sat from 1987 to 1988. Research sources are based on the archives of the Constituent National Assembly and on interviews with key political leaders in Congress and practitioners. The decision to decentralise is analysed in three dimensions: the relationship between political parties and the State; intra- and inter-party competition; and regional cleavages. The downstream approach comprises three case studies: the state of Bahia, its capital, Salvador, and its most industrialised municipality, Camacari. The political analysis is based on (a) interviews with politicians in executive and in legislative positions, and officials and (b) newspaper material as a complementary source. The financial performance is based on the analysis of expenditure extracted from balance sheets. This study fills four gaps in political-science and public-administration works on contemporary Brazil First, it deepens the understanding of how and why Brazil became such a decentralised nation. Second, it links the analysis of political and financial resources. Third, it highlights differences between levels of government in their experiences with decentralisation. Fourth, it investigates the impact of decentralisation on political arrangements and on education expenditure. The results suggest that in Brazil there was a lack of social consensus on what was to be achieved by decentralisation. They suggest that decentralisation fosters democracy but its impacts on policy results have so far been limited. The evidence further implies that decentralisation and democratisation bring about a fragmentation of power without necessarily disintegrating previous political coalitions or changing the way public resources are spent. These findings indicate that various political and economic factors influence the outcomes of decentralisation, thus exposing the limits of decentralisation on policy results.
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Roffia, Barbara. "The sustainability of government financial policies in overlapping-generations models." Thesis, University of Warwick, 1996. http://wrap.warwick.ac.uk/2828/.
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The objective of this thesis is to examine the implications of different government financial policies on the real sector of the economy. For this purpose we develop two overlapping-generations models. The first one allows us to evaluate the performance of the economy when debt is managed with different types of financial assets. A general result of the analysis is shown to be that an increase in the burden of debt leads to crowding out of the capital stock. A criterion for deriving endogenously the maximum sustainable level of debt within the model is also identified. The model turns out to be useful to provide an explanation of the poverty trap which is a very common phenomenon in some developing countries. The second model is developed to discuss the effects on the real economic variables of two different government deficit financing policies. The framework is an overlapping-generations monetary economy with population growth. Firstly, we analyse the effects of public deficit financing policy by injection of money into the economy at an exogenous constant rate and we emphasise the Mundell-Tobin (or non-superneutrality of money). Secondly, we extend the previous financing policy to include an endogenised money growth rate and we succeed in providing a powerful framework to explain the conditions under which dynamics of hyperinflation may arise. The novelty and importance of the findings are highlighted throughout the thesis.
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Brown, Rebecca. "The ethics of using financial incentives to encourage healthy behaviour." Thesis, Queen Mary, University of London, 2013. http://qmro.qmul.ac.uk/xmlui/handle/123456789/8395.
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Efforts to encourage healthy behaviour often fail to bring about sustained changes in people’s lifestyles. New approaches to tackling chronic disease include the use of financial incentives: rewards paid to individuals conditional upon their achieving some pre-specified target, such as losing weight or quitting smoking. Incentives may provide an extra motivation to adopt healthy lifestyles, and structure behaviour change efforts in ways more conducive to success. Health incentives have, however, provoked controversy, attracting accusations of ‘bribing people to be healthy,’ ‘rewarding bad behaviour,’ and ‘wasting taxpayers’ money.’ It remains unclear how viable health incentives could be as a tool for health promotion; but, even if effective, their contentious nature may still give reason for hesitancy. Here, I explore whether such ethical concerns present us with convincing reasons not to use health incentives. I begin by looking at the nature of the criticisms of incentives in the media, and grouping these arguments into more general themes for discussion. I then proceed to consider each of these in turn, beginning first with debates about the requirements for the state to act efficiently without overstepping its legitimate sphere of influence. I then move on to concerns relating to the potential for incentives to undermine liberty and autonomy. Next, I discuss whether health incentives are unjust insofar as they are undeserved, and how this relates to agent freedom and responsibility for adopting healthy lifestyles. Finally, I consider the worry that using money as a healthcare intervention could corrupt certain values that we care about. In concluding, I seek to give an overall idea as to the ethical permissibility of health incentives, and identify some key features that are likely to render incentives more or less acceptable as a means of improving health.
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Soyeju, Olufemi Olugbemiga. "Public assets financing in Nigeria : the imperatives for legal reforms to unlock domestic financial resources and foreign capital for infrastructure development." Thesis, University of Pretoria, 2012. http://hdl.handle.net/2263/24525.
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Infrastructure is one of the main parameters of economic growth and a country‘s competitiveness depends on the provision and maintenance of efficient and productive infrastructure assets. However, Nigeria, like most countries in Sub-Saharan Africa has the lowest quantity and poorest quality of stocks of infrastructure assets in the world and this phenomenally poor infrastructure has remained an impediment to development in the country. Decades of sub-optimal investment, poor maintenance culture and the fact that the required infrastructure investments could not be accommodated within the available fiscal space as a result of budgetary constraints have all contributed to the Nigeria‘s infrastructure deficit. The immediate outcome of this however is that the available infrastructure assets across the Nigerian landscape are in decrepit state and absurdly inadequate. Besides, the present demand for basic infrastructure services has grown astronomically out-stripping the supply capacity of the existing ones. Closing the infrastructure financing gap will however require increased investment by private investors through creative financing in an enabling legal and financial environment. Outside the budgetary constraints, the absence of efficient maintenance and management of infrastructure assets and quality service delivery by the public sector are some of the reasons why procurement of public infrastructure stocks by government through the traditional approach is no longer plausible and hence, the general appeal of the public-private partnership framework. However, despite all the potentials, the public private partnership technique in Nigeria has not made an appreciable impact in closing the infrastructure gaps due to lack of access to long-term financing. It is against this back-drop that this study has sought to investigate how reforms of the legal and financial infrastructure could widen access to financing through innovative financial resource mobilization in scaling-up infrastructure development and service delivery to the teeming Nigeria population. Therefore, the central thesis of this study is that the inadequacy of appropriate laws and inefficient financial system are partly responsible for the huge financing gaps in the Nigeria‘s infrastructure market and with the legal and financial reforms, an enabling legal and financial environment that would open up space for resource mobilization through innovative financing techniques and sources will be created thereby widening access to long-term financing and increasing the appetite for private investment in the nation‘s public infrastructure assets and services. So, the overarching objective of this thesis is to explore how legal and financial system reforms can facilitate the development of financial models and instruments that can help mobilize financial resources to fund infrastructure and bridge the huge infrastructure financing gaps in Nigeria in a sustainable fashion. Given the infrastructure poverty that constrains economic growth and development in Nigeria, the outcomes of this proposed study would help inform the need for the legal and financial system reforms to unlock resources in addressing the problems of financing gaps in infrastructure projects development in Nigeria. Besides, such outcomes based on the Nigerian experience in infrastructure financing and development may be turned into valuable knowledge for policy –making and further research in Nigeria. CopyrightThesis (LLD)--University of Pretoria, 2012.
Centre for Human Rights
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Kim, Saerim. "THREE ESSAYS ON FINANCIAL COLLABORATION IN THE GOVERNMENT AND NONPROFIT SECTORS." UKnowledge, 2018. https://uknowledge.uky.edu/msppa_etds/25.
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The primary objective of this dissertation is to study the management of public and nonprofit resources and financial risk. Governments will be able to use its findings to continue to provide public services in collaboration with other sectors, including the nonprofit sector. Nonprofit financial self-sufficiency and sub-award grant mechanisms between the government and nonprofit sectors are two primary areas to be examined. This dissertation consists of three essays. The first investigates how the diversification of nonprofit revenue portfolios influences extreme revenue risks; the results show that the chance of extreme revenue loss increases when revenue sources are highly correlated to each other. The second essay examines the impact of strenuous state fiscal conditions on nonprofit organizations based in different U.S. states in order to report on generalizable empirical research on sub-award grant mechanisms, state and local government grants awarded to nonprofit organizations. The third essay explores the nonprofit sector’s response to economic shocks, and whether specific state characteristics intensified or mitigated the impact of the economic crisis. The findings from this dissertation can help nonprofit-sector scholars and practitioners understand different perspectives of market risk, revenue risk and portfolio development, and financial stability related to government grants.
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Parker, Shahkira. "Financial Management and Budget Reform implementation and constraints in the public sector since 1994: The Case of the health sector." Thesis, University of the Western Cape, 2007. http://etd.uwc.ac.za/index.php?module=etd&action=viewtitle&id=gen8Srv25Nme4_1814_1255004975.
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This research report examines the factors associated with facilitating and constraining the implimentation of financial management and budget reforms in the public sector using the Health Sector (National and Provincial Departments of Health) as a case study. The main findings of this report are that there are factors that are both facilitating and constraining the implementation of financial management and budget reform in South Africa. The primary constraining factor in this regard is that there is limited capacity in the country with regard to financial management.