General-Purpose Local Government Defaults: Type, Trend, and Impact

Yang, Lang; Abbas, Yulianti

doi:10.2139/ssrn.3472118

Cited by 3 publications

(3 citation statements)

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“…Second, while broader economic and demographic factors matter for financial capacity, leadership and management are essential for sustaining an organization's financial resources. Lack of financial management capacity is a key contributing factor to fiscal failure (Howell‐Moroney and Hall 2011; Rubin 1982; Yang and Abbas 2020). Third, financial data are regularly subject to policy consideration and public scrutiny through the release of annual budgets and financial reports.…”

Section: Methodsmentioning

confidence: 99%

Is There a Glass Cliff in Local Government Management? Examining the Hiring and Departure of Women

Yang

Connolly

2022

Public Administration Review

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Women are underrepresented in public sector leadership positions, including municipal management. We examine one explanation that may contribute to gender inequity in the profession-a "glass cliff " phenomenon whereby councils are more likely to hire women as managers during difficult times, increasing the likelihood for women to fail in the position. Using original observational data on municipal managers in Florida, we test whether municipalities are more likely to hire women during times of fiscal stress and whether women are more likely than men to leave the position if municipal finances do not improve. Our results show that increasing budget deficits are associated with municipalities hiring women as managers. Post-appointment, a lack of improvement in the deficit condition is associated with a higher probability of women, but not men, leaving the position. A glass cliff in municipal management could be one factor that hinders women from advancing within the field. Evidence for Practice• Municipalities are more likely to hire women as managers when faced with increasing budget deficits.• When deficit conditions fail to improve post-appointment, women have a higher probability than men of leaving the position. • The glass cliff may be one barrier to women's advancement in the field of municipal management, as a woman who faces a glass cliff may find it more difficult to reach top leadership positions again due to harm to her professional reputation. • Objective evaluation metrics that benchmark the assessment of managers to the organizational condition and trends at the time of hire may be useful for scholars and practitioners alike in mitigating gender biases in municipal personnel decisions. W omen are underrepresented in leadership positions across the public sector (Alkadry, Bishu, and Bruns Ali 2019; Bowling and Beehr 2006; DeHart-Davis et al. 2020; Riccucci 2009), despite a clear and growing recognition that a gender-balanced public sector better represents and serves constituents (DeHart-Davis et al. 2020). Women possess unique skills and perspectives conducive to innovation (Antil, Letourneau, and Cameron 2014), and can have better performance outcomes (Herring 2009). Increasing women's representation in top positions in public sector organizations improves perceived legitimacy and policy implementation (Meier and Nicholson-Crotty 2006; Wilkins and Keiser 2006). Gender balance in organizations may also lower instances of sexual harassment and increase job satisfaction (Antil, Letourneau, and Cameron 2014).

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Section: Methodsmentioning

confidence: 99%

Is There a Glass Cliff in Local Government Management? Examining the Hiring and Departure of Women

Yang

Connolly

2022

Public Administration Review

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“…The main responsibility of municipal governments is to strengthen local democracy [10] Communities make democratic decisions about the future course of their destiny and the services to be supplied through the menses of local governments. How well they can represent and authenticate their constituents in public choices is the issue that matters.…”

Section: The Trend Of Decentralization Participation and Local Govern...mentioning

confidence: 99%

The Practice of Decentralisation in Terms of Community Participation in Decision-Making

Chanie,

Parappagoudar

2024

Proceedings of the 4th International Conference on Social Science, Humanity and Public Health, ICoSHIP 2023, 18-19 November 202

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Participatory decision-making is the urge for decentralization. Nevertheless, in Ethiopia, decisions are not made based on shared understanding and marginalized voices are increasing. We used a mixed method, and the data was analysed through convergent parallel design. Grounded on theoretical lenses of democratic decentralization and democratic decision-making approaches, our findings fail to support the decentralization of community participation in decision-making at the grassroots level due to the absence of legally entrenched and visible participatory structures as well as the low performance of local administrators in mobilizing the community in the revenue-generating and budgeting process. All of these made the community lack interest in decentralization and less likely to participate in the process. Hence, at the local government level, the practice of decentralization is more promising than apprehending inclusive participation.

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“…Guzman and Moldogaziev (2012) find housing and development bonds to have higher and utility and environmental facility bonds to have lower TIC. Overall, defaults in the municipal market remain rare (Yang & Abbas, 2020).…”

Section: Municipal Bond Sectormentioning

confidence: 99%

Municipal bond sectoral risk and information intermediation in uncertain times: Evidence from the Covid‐19 pandemic

Yang

Winecoff

2022

Public Budgeting & Finance

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The municipal bond market is not homogeneous but consists of varying credits supporting different governmental activities. In this paper we discuss how sectors form and how they are differentially subject to market risks, using the Covid-19 pandemic as a case study. The pandemic has disrupted all financial markets, particularly some municipal bond sectors supported by nongeneral obligation credits, such as health care, arts, and transportation. By comparing the sectors that face a greater increase in risk with others, we empirically examine the market uncertainty hypothesis that intermediation provides stronger certification value when sectoral risk increases. We find an increased use of insurance among high-risk-elevation bonds. Bond insurance, nevertheless, is not associated with larger reductions in offering yields in the high-risk-elevation sectors on average, but only for issuers consistently insuring all issuances. The yield difference between unrated and rated bonds expands more in the high-risk-elevation sectors; for an average unrated bond in such sectors, receiving any investmentgrade rating is associated with yield reductions.

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General-Purpose Local Government Defaults: Type, Trend, and Impact

Cited by 3 publications

References 0 publications

Is There a Glass Cliff in Local Government Management? Examining the Hiring and Departure of Women

Is There a Glass Cliff in Local Government Management? Examining the Hiring and Departure of Women

The Practice of Decentralisation in Terms of Community Participation in Decision-Making

Municipal bond sectoral risk and information intermediation in uncertain times: Evidence from the Covid‐19 pandemic

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