Political decision-making means a country's political parties, leaders or leadership compare and select implementing principles and approaches and means to achieve the target in political practical activities for the purpose, principles and direction of activities. The process of political decision-making is a dynamic political process that is related to the formation and implementation of major and general decisions of the national, political and social interest groups. This process is to integrate major and general decisions regarding national and social interests. The subjects are state organs, political parties and individual decision makers or decision-making participants, and the finally formed decision is backed by the country's coercive power with mandatory features. Meanwhile, political decision-making is influenced by system pressure. In the decision-making process, there will be a certain degree of bias between the final decision and the targeted decision.
This thesis provides a comprehensive analysis of depositor market discipline across Australian authorized deposit-taking institutions (stock-owned commercial banks, credit unions, and mutual building societies) by investigating both monitoring and influence dimensions of market discipline. It explores whether depositors monitor their institution's risk taking, whether these institutions respond to depositor monitoring, and if this monitoring and influence differs between banks and mutuals. It also extends the literature by using Australia's October 2008 deposit and wholesale funding guarantee to examine the interaction between deposit insurance and market discipline. The sample consists of 56 banks (23 Australian-incorporated banks and 33 foreign bank branches), 94 credit unions, and 9 mutual building societies from March 2002 to September 2010. Both the panel fixed effect estimation and system generalized method of moments are applied to test the related hypotheses. The findings are that depositor market discipline is at work through both monitoring and influence aspects in Australia. Specifically, depositors monitor institutional risk taking by reducing the deposit volumes and by requiring higher interest rates as risk increases. Institutions respond to this slowed deposit growth and higher deposit costs with reduced risk taking. Furthermore, depositor market discipline differs between banks and mutuals. While mutuals tend to attract less monitoring than banks, they are more responsive to it. Finally, the guarantee weakened monitoring by mutual depositors and by two of three bank depositor groups. The guarantee reduced market influence on banks, but not on the mutuals. The thesis contributes to the academic literature in several ways. It uses a rigorous definition of market discipline, examining both its monitoring and influence aspects. It also extends the market discipline literature by including financial mutuals, whereas the current literature tends to focus on commercial banks. Moreover, this study complements the literature by using the unique characteristics of Australia's deposit and wholesale funding guarantee to revisit the interaction between deposit insurance and market discipline. Regarding methodology, this work improves on prior studies by adopting two approaches, namely, institution risk response and means reversion of institutions' deposit interest rates based on a system generalized method of moments procedure. Finally, the novel data used in this research incorporate a higher data frequency and greater cross-sectional consistency than in prior research. The results have a number of important implications for depositors, managers, regulators, and policy makers. Depositors' ability to induce these institutions to reduce their risk taking highlights the depositors' role in disciplining financial firms. Managers should note that their risk taking is being monitored by depositors, so high levels of risk may be punished by reduced availability of deposit funds or an increased cost in deposits. Given that both bank and mutual depositors monitor the risk taking of their institutions, regulators and policy makers should encourage even more disclosure of information that facilitates depositor monitoring. Evidence of market influence implies that regulators can rely on market discipline to complement controls on risk taking. For policy makers, sound regulation must be in place to limit the moral hazard associated with an explicit deposit insurance scheme and therefore to reduce any adverse effect on market discipline.
As it is the second-largest freshwater lake downstream of the Three Gorges Dam and an important international wetland for migratory birds, there have been concerns about the ecological water health of Dongting Lake for a long time. In the present study, we studied the evolutionary characteristics of water quality in Dongting Lake in three recent years. Moreover, the evolution rules and dominant groups of the phytoplankton community were explored, and the major influencing factors of phytoplankton and their distribution were assessed based on the field survey and detection data from 2017 to 2019. The results indicated that the water quality of Dongting Lake improved in recent years. The concentration of dissolved oxygen (DO) increased by 6.91%, whereas the concentrations of the five-day biochemical oxygen demand (BOD5), chemical oxygen demand (CODCr), ammonia nitrogen (NH4+–N), total phosphorus (TP), and total nitrogen (TN) decreased by 17.5%, 13.0%, 33.8%, 7.6%, and 13.3%, respectively. The mean phytoplankton density reached 4.15 × 105 cells·L−1 in September 2017, whereas it was only 1.62 × 105 cells·L−1 in December 2018. There were 15 dominant species belonging to Cyanobacteria, Chlorophyta, Bacillariophyta, Cryptophyta, and Miozoa. Moreover, Fragilaria radians (Kützing) D.M.Williams & Round and Aulacoseiragranulata (Ehrenberg) Simonsen were the dominant populations in all seasons. The Pearson and linear regression analysis also indicated that the composition and distribution of phytoplankton in Dongting Lake were mainly affected by electrical conductivity (Cond), BOD5, potassium permanganate (CODMn), and CODCr, especially in Eastern Dongting Lake. Of course, NH4+–N, TN, and TP were also the main factors affecting the density and species of the phytoplankton community, especially in Western Dongting Lake. Finally, we suggested that local government could take "The relationship between Yangtze River and Dongting Lake", "The relationship between the seven fed rivers and Dongting Lake", and "The relationship ...
AbstractManagement and organization scholarships have paid increasing attention to corporate social responsibility (CSR). Less is known about the historical processes leading to the institutionalization of CSR reporting. We bridge the gap by coding and analyzing a digital archive of multinational enterprises' historical websites between 1997 and 2009. Combining in‐depth case studies of detailed environmental disclosure histories of three companies with quantitative summaries of 263 such companies, we find that these companies learned to define the CSR term and adjust their disclosing behaviors gradually, from ad hoc mentioning of idiosyncratic themes to disclosing proliferating themes, often in the dedicated separate website section. Accompanying this change was the growth of global initiatives such as Global Compact and Global Reporting Initiatives and their disclosure guidelines. These findings not only illuminate a historical perspective but also epitomize the dialectical relationship between business and institutional pressures.
