Demokratie, Autokratie und die regulative Gestaltung der Außenwirtschaftsbeziehungen in Entwicklungsländern

This paper investigates into the political determinants of trade policy regulation in developing countries. When choosing between the trade policy instruments tariffs and quota governments consider the effects of these policies on their political support from interest groups and voters. It is argued that quantitative restrictions become increasingly less attractive as a country democratizes. Instead, motives of revenue generation gain importance. Therefore, the likelihood of democratic governments choosing quota is smaller than for their autocratic counterparts. Empirical tests based on a sample of 75 developing countries for the years 1979–1998 support the hypothesis.     

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     

A spatial analysis of candidate competition in dual member districts: The 1989 Chilean senatorial elections

This study uses empirical spatial theory to evaluate candidate and voter behavior in senate elections contested during the 1989 Chilean general election. The study evaluates whether senatorial candidates competing in dual member districts under Chilean d'Hondt locate near the periphery or interior of the electoral space. Spatial analyses demonstrate the Chilean senatorial electoral system is characterized by centrifugal forces. In particular, candidates of the right locate on the periphery of the space and face few incentives to pursue moderate electoral strategies. The study also characterizes bases of party and candidate support and the underlying dimensions of political competition. Spatial analysis reveals both change and continuity in the pre- and post-authoritarian electoral universes.     

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.     

Directional and proximity models of voter choice in recent US presidential elections

This note evaluates relative ability of the proximity and recently proposed directional variants of the spatial model of voter choice to account for candidate evaluations in US presidential elections contested between 1980 and 1992. I do this by estimating a statistical model that represents voter preference for a candidate as a weighted average of proximity and directional components. The analysis corroborates previous studies supporting the directional model, but illustrate that these results are sensitive to statistical specification. Alternative methodological specifications favor a mixed directional-proximity model and the traditional distance representation.