The Experts below are selected from a list of 228 Experts worldwide ranked by ideXlab platform
Yong Chen - One of the best experts on this subject based on the ideXlab platform.
-
What Affects Government Credit Information Systems Diffusion: An Empirical Investigation of Shanghai
2010 International Conference on Internet Technology and Applications, 2010Co-Authors: Hongbo Li, Yong ChenAbstract:This paper examines what affects Government Credit information systems diffusion. Based on Technology-Organization-Environment framework, Technology Acceptance Model, Innovations Diffusion Theory, and Institutional Theory, we propose a model of affecting Government Credit information systems diffusion under China E-Government circumstance. Data collected from a survey in Shanghai are analyzed with SEM and PLS to estimate the model. The implications of this study are discussed.
Hongbo Li - One of the best experts on this subject based on the ideXlab platform.
-
PACIS - Modeling Government Credit Information Systems Diffusion in China: A System Dynamics Approach
2010Co-Authors: Hongbo Li, Stella Wen TianAbstract:This paper examines the usage and diffusion of Government Credit Information Systems (GCIS) in district-level Governments in shanghai. The diffusion of GCIS was studied from a process-oriented perspective. A System Dynamics (SD) model is developed to simulate the relationships of technological, organizational and environmental, and institutional factors on GCIS diffusion under different management policies. A holistic view on the feedback loops, the consequently nonlinear behavior pattern of GCIS usage, and its diffusion in Shanghai Government agencies is examined. Our research model and results suggest that workload faced by GCIS users and the tolerable maximum workload have a high impact on GCIS usage, task volume brought by GCIS, work pressure and the perception of technological factors. Different combination of work intensity and the tolerable maximum work intensity significantly influence the system usage. The contribution of our study lies in revealing that the diffusion of GCIS requires a systematic consideration of the business development plan, the GCIS user's workload and the organization's business environment. Flexible managerial incentive strategy will enhance user's work efficiency, thus lead to effective diffusion of GCIS in organizations. The theoretical and practical implications of this study are discussed.
-
What Affects Government Credit Information Systems Diffusion: An Empirical Investigation of Shanghai
2010 International Conference on Internet Technology and Applications, 2010Co-Authors: Hongbo Li, Yong ChenAbstract:This paper examines what affects Government Credit information systems diffusion. Based on Technology-Organization-Environment framework, Technology Acceptance Model, Innovations Diffusion Theory, and Institutional Theory, we propose a model of affecting Government Credit information systems diffusion under China E-Government circumstance. Data collected from a survey in Shanghai are analyzed with SEM and PLS to estimate the model. The implications of this study are discussed.
Craig L Johnson - One of the best experts on this subject based on the ideXlab platform.
-
Government wide financial statements and Credit risk
Public Budgeting & Finance, 2012Co-Authors: Craig L Johnson, Sharon N Kioko, Bartley W HildrethAbstract:Now that state Governments issue comprehensive annual financial reports in accordance with Statement No. 34 of the Governmental Accounting Standards Board, it is possible to generate a consistent and comprehensive set of Government-wide financial information. We use the information to develop financial ratios to benchmark Government financial performance from information beyond the traditional general fund, and test the hypothesis that such information is incorporated into the assessment of Credit risk. We provide an empirical analysis of the incorporation of Government-wide financial information into state Government Credit ratings, which provides a positive empirical test of the theory of certification and demonstrates how information from the Government-wide financial statements is infused into financial markets.
-
state Government Credit quality down but not out
Public Administration Review, 1999Co-Authors: Craig L JohnsonAbstract:Municipal (state and local) Governments issue debt to finance capital projects and meet their cash flow needs. Most state Governments issue large amounts of long-term debt on a regular basis. The state Government share of outstanding municipal debt grew significantly from 1961 to 1992, from 26 percent to 38 percent (U.S. Department of Commerce, 1975-1996), with the rate of growth accelerating in the 1980's (Regens and Lauth, 1992). Accordingly, state Government debt is taking up an increasingly larger share of municipal financial resources and will continue to do so in the future. Yet, the ability of state Governments to repay their debt may have been adversely affected by the fiscal stress they underwent in the 1980's and early 1990's (Poterba, 1994; Gold, 1995). Since the state Government sector surplus peaked at historical highs in the mid-1980's, the fiscal position of the states has deteriorated to the point where in 1992 the state sector suffered its largest deficit in U.S. history (Fleenor, 1995). Inevitably, such fiscal problems adversely affect the ability of state Governments to finance their citizens' capital needs at lowest cost. In this article state Government Credit ratings are used to analyze aggregate state Government Credit quality from 1970 to 1995. Our analysis focuses on changes in the overall Credit quality of state Governments, and changes in the comparative Credit ratings of Moody's Investors Service and Standard and Poor's. This article adds to the public administration and financial certification literatures by providing a new means of understanding and analyzing the aggregate structure of state Government Credit quality over time. In addition, it appears that the only prior time series study of state Government Credit quality in the academic literature was published in 1978 and examined the period 1950-1972 (Osteryoung and Blevins). The study used Moody's ratings, but did not compare Credit quality judgements across rating agencies. The other state Government Credit quality study in the literature measures the impact of ratings on yields at a single point in time (Liu and Thakor, 1984). An analysis of Credit rating changes over time provides a useful framework for analyzing the relationship between Government financial management decisions and the actions of rating agencies. Specifically, a finding of deteriorating Credit quality over time would suggest that public officials have been ineffective at managing the factors--economic, financial, debt, and administrative--that Credit rating agencies consider important. Such a finding would demand a major reassessment of state Government financial management. On the other hand, an improving Credit condition would imply just the opposite, that state Government officials have been increasingly successful at managing their fiscal affairs. This article also adds to the financial certification literature by examining dual certification on a market structure basis by comparing Moody's and Standard and Poor's Credit ratings for the same issuer over time. Prior certification studies (Hsueh and Kidwell, 1988; Thompson and Vaz, 1990) have analyzed dual certification for individual debt issuers at one point in time by estimating the value of a second rating on the cost of a new bond issue. Historically, state Governments obtained a single Credit rating from Moody's or Standard and Poor's when bringing a new bond issue to market. Now, state Governments routinely purchase two ratings from Moody's and Standard and Poor's. This study addresses the question of whether more than one rating on a state Government bond issue is necessary. Also, virtually all of the Credit certification literature looks at local Governments and corporations. This article extends the literature by analyzing state Governments exclusively. Our analysis shows that the distribution of state Credit ratings have changed markedly since 1970. In the aggregate, state Governments in the United Stares are less Creditworthy (rated lower) in 1995 than they were in 1970. …
Hao Zhou - One of the best experts on this subject based on the ideXlab platform.
-
the great wall of debt real estate political risk and chinese local Government Credit spreads
2016Co-Authors: Hao ZhouAbstract:Chengtou bonds -- urban construction and investment bonds, backed mostly by land sales, are the major source of financing for Chinese local Governments. We find that one standard deviation increase in local real estate GDP -- as the main growth engine countrywide -- corresponds to about 8.6% decrease in Chengtou bond excess yields. Political risk, a novel measure based on the anti-corruption campaign in China, has a significant negative effect on Chengtou bond prices. However, conditional on high corruption level, real estate GDP actually elevates Chengtou bond yields; only low corruption provinces enjoy low financing costs with high real estate GDP.
-
the great wall of debt real estate corruption and chinese local Government Credit spreads
2016Co-Authors: Hao ZhouAbstract:Chengtou bonds -- urban construction and investment bonds, issued by local Government financing vehicles (LGFV) and backed mostly by land sales, are the major source of debt financing for Chinese local Governments. We identify large heterogeneity in Chengtou bond yields, despite their implicit guarantee from the central Government. We find that in China real estate is the most prominent determinant of the cross section of local Government Credit spreads, with one standard deviation increase in local real estate GDP corresponding to about 10% decrease in Chengtou bond yield spread. Political risk, a novel measure based on the recent anti-corruption campaign in China, also has a significant negative effect on Chengtou bond prices. The effect of corruption works mainly through the real estate channel -- more corruption depresses the real estate value, which in turn elevates Chengtou bond yields.
Bina Agarwal - One of the best experts on this subject based on the ideXlab platform.
-
gender and land rights revisited exploring new prospects via the state family and market
Journal of Agrarian Change, 2003Co-Authors: Bina AgarwalAbstract:The question of women’s land rights has a relatively young history in India. This paper briefly traces that history before examining why gendering the land question remains critical, and what the new possibilities are for enhancing women’s land access. Potentially, women can obtain land through the State, the family and the market. The paper explores the prospects and constraints linked to each, arguing that access through the family and the market deserve particular attention, since most arable land in India is privatized. On market access, the paper makes several departures from existing discussions by focusing on the advantages, especially for poor women, of working in groups to lease in or purchase land; using Government Credit for land rather than merely for micro-enterprises; and collectively managing purchased or leased in land, the collectivity being constituted with other women, rather than with family members. Such group functioning is shown to have several advantages over individual or family-based farming. This approach could also help revive land reform, community cooperation and joint farming in a radically new form, one centred on poor women.
