IPO effects: corporate restructuring when a firm goes public

The public affairs of a firm issuing an initial public offering (IPO) are a critical part of the corporate restructuring efforts which firms face during the process of going public. In this paper, Bowman and Singh's (1993) definition is used to illustrate how issuing an IPO is a significant form of corporate restructuring. Public affairs are critical during both the pre‐IPO phase and during the period leading up to the IPO, as the firm must negotiate a heavily institutionalised process to successfully complete the issue. Here, the six‐year life of ‘Deja News’ is used as a way to illustrate and explain the public affairs during the process of preparing for and issuing an IPO. Copyright © 2004 Henry Stewart Publications     

China's consumer revolution: The 1990s and beyond

Since 1980 China's economic revolution has enabled more households to allocate labor to market‐related activities to earn more income. In 1992 an even greater surge in market economy growth took place when urban households began abandoning state‐related occupations and took their chances in the marketplace. The increase in consumer spending that followed reflects a new pattern of household spending for the first time in China since 1949: the share of spending for food relative to spending for other categories of goods and services is fast declining. This new trend, already strongly evident among high income‐earning households, is rapidly being replicated by other households as their incomes rise. During the 1990s new consumer patterns have emerged in the cities of the coastal provinces that strongly indicate that a consumer revolution is under way. This revolution has revived traditional gift‐giving between the Chinese people, thus facilitating the strengthening of their social, economic, and political ties and encouraging people to emphasize social and political stability.     

Multiparty electoral competition in the Netherlands and Germany: A model based on multinomial probit

A typical assumption of electoral models of party competition is that parties adopt policy positions so as to maximize expected vote share. Here we use Euro-barometer survey data and European elite-study data from 1979 for the Netherlands and Germany to construct a stochastic model of voter response, based on multinomial probit estimation. For each of these countries, we estimate a pure spatial electoral voting model and a joint spatial model. The latter model also includes individual voter and demographic characteristics. The pure spatial models for the two countries quite accurately described the electoral response as a stochastic function of party positions. We use these models to perform a thought experiment so as to estimate the expected vote maximizing party positions. We go on to propose a model of internal party decision-making based both on pre-election electoral estimation and post-election coalition bargaining. This model suggests why the various parties in the period in question did not adopt vote maximizing positions. We argue that maximizing expected vote will not, in general, be a rational party strategy in multiparty political systems which are based on proportional representation.     

Advancing Human Rights Policy: Does Grassroots Mobilization and Community Dispute Resolution Matter? Insights from Chiapas,Mexico

This research examines the impact of grassroots organizing at the community level in Chiapas, Mexico, to address problems associated with human rights advocacy and implementation. Traditionally, the nation‐state has had the primary responsibility to address issues pertaining to human rights violations and the enforcement of international human rights principles and treaties. Local political struggles and acts of resistance by disenfranchised groups in Mexico offer insight to understand the impact of indigenous and other social movements in furthering human rights. Indigenous populations in the state of Chiapas use local community dispute resolution to contest the inadequacy of the state in responding to the problems that give rise to poverty, lack of human dignity, educational access, racial and ethnic discrimination, lack of political participation in government and the right to equality in economic, social, and political sectors. Drawing from research based on participant observations in Chiapas, Mexico, there is some evidence to suggest that since the 1994 EZLN (Zapatista National Liberation Army) uprising several micro‐level political and social movements have contested the power of the state through symbolic and pragmatic organizing efforts. These groups include, but are not limited to, nongovernmental organizations (NGOs), women's groups, and indigenous groups. After the Zapatista uprising, these groups were instrumental in making claims against the state through numerous activities: protests to end the war, the development of NGOs to observe human rights violations, civilian‐based Zapatista support groups (base de apoyo), peace camps, and open dialogue with the EZLN. I argue that collective mobilization in local communities serves both symbolic and pragmatic efforts in helping disenfranchised groups empower themselves to address economic, social, and political inequality. Local‐level activism has fueled a sense of self‐empowerment to change state institutional responses and to involve sectors of civil society domestically and internationally to initiate a proper resolution of issues that are fundamentally related to human rights.