Public sector efficiency: leveling the playing field between OECD countries

Author(s):

Manthos Delis

Topic:
Finance
Industry:
Public Policy

It has long been recognised that the efficient function of the public sector is a prerequisite for a country's competent economic performance.

This paper aims to identify a robust methodology for the measurement of the relative public sector efficiency (government efficiency) of 19 OECD countries over the period 1980-2000.

Updated: 27/12/2014
Comments: 8
Views: 6,682

The Case for Multitasking

With increasing demands on our attention, many of us attempt to multi-task to save time, but is multitasking conducive to a higher quality of work? The following report, based on research by Professor Vangelis Souitaris, explains that there is a difference in performance between those who multi-task and those who do not.

Why is this? Also outlined are some of the benefits and limitations of being able to multi task and suggestions for companies looking to improve output.

Updated: 09/02/2017
Comments: 5
Views: 14,920

Monetary policy, asset prices and actuarial practice

Author(s):

Philip Booth


The operation of monetary policy may have an impact on securities markets and asset values. This is of relevance to many in the actuarial industry, particularly to actuaries who work in non-bank financial institutions such as pension funds and insurance companies.

This review paper presents mainstream theories of monetary policy and draws out the implications that are regarded as most important for actuaries and actuarial research.

Updated: 14/01/2013
Comments:
Views: 5,348

Seasonal patterns in household giving in the UK

Ideally, charities require a regular income throughout the year to enable them to plan ahead. Data from the national Expenditure and Food Survey however reveals that levels of giving fluctuate throughout the year. The research also highlights the differing patterns of giving for different types of households.

Updated: 06/02/2013
Comments:
Views: 6,210

What does equity sector orderflow tell us about the economy?

Investors rebalance their portfolios as their views about expected returns and risk change.

In this study empirical measures of portfolio rebalancing were used to back out investors' views, specifically their views about the state of the economy.

Contrary to many theories of price formation, did trading activity therefore contain information that that is not entirely revealed by resulting relative price changes?

Updated: 28/12/2014
Comments: 37
Views: 6,924

Governance, Ownership Structure and Performance of IPO Firms

Recent trends in corporate governance research show an increased concern with the relationships between stock ownership and corporate performance, but what is the impact of different types of Private Equity Investors? Does the institutional environment have an effect?

A research team including Professor Igor Filatotchev, Professor of Corporate Governance and Strategy, have investigated this further.

Updated: 23/12/2014
Comments: 10
Views: 8,296

The chicken or the egg? A note on the dynamic interrelation between government bond spreads and credit default swaps

Author(s):

Manthos Delis

 et al.
Topic:
Finance
Industry:
Banking

The recent financial turmoil has taken a heavy toll on the global economy and had a devastating effect on public finances. Following the crisis, a number of Southern European countries have found themselves with a problematic public sector.
A team including Dr Manthos Delis, Senior Lecturer in Banking, used data from a number of these countries, including Greece, Italy, Portugal and Spain to provide the first empirical assessment of the dynamic interrelation between government bond spreads and their associated credit default swaps.

Updated: 06/02/2013
Comments:
Views: 5,661

Unlocking the Catch-22 of institutional change

Traditionally partnerships are based on ambiguous and negotiated relationships amongst professional peers, who are the firm's owners as well as its core producers. But in recent years there has been a growing acceptance amongst partners in large international law firms that they require more explicit forms of performance measurement and management and more hierarchical structures of governance in order to maximise Profits per Partner - the professional partnership is becoming a bit more corporate.

It was this change which prompted researchers from the Centre of Professional Service Firms to study the rise of the management professional and their role in the professionalisation of management in large international law firms.

Updated: 06/02/2013
Comments:
Views: 5,650

Bad incentives or weak controls?

Author(s):

Gilad Livne

Industry:
Banking

The recent loss of £1.5 billion at UBS as a result of allegedly unauthorised trading raises the question as to the possible causes of this failure. Is this attributable to wrong pay incentives, failure of supervision and internal control, or is it a result of corporate culture?

Dr Gilad Livne, Senior Lecturer in Accounting and Finance, explains further based on his latest research.

Updated: 10/02/2017
Comments:
Views: 13,310