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Studies have shown that political variables can influence the volume of government debt and have recommended investigating the joint effects of diverse factors on the risk of local government default. Considering the relation between economic management and political constraints, this paper examines the joint influence of political and systemic factors on the risk of loan default by Spanish local governments. To do so, we analyze 148 city councils for the period 2006-2011, using a logit model with panel data and an artificial neural network. The empirical results indicate that the financial risk of local governments is affected both by political factors specific to each case and, simultaneously, by systemic variables for the country. Specifically, political variables such as the mayor not having economics-related university studies, the under-representation of female councilors in the municipal corporation, municipal government by a party with a progressive ideology, and ideological alignment between the municipal and the regional government are all associated with greater financial risk. Moreover, rising national unemployment, an increased sovereign risk premium, the impact of the electoral cycle, and that of declining economic growth are all factors that may increase the risk of default. The findings presented are of great potential interest for governments, managers, national and international fiscal authorities, financial regulators, and citizens at large, because an understanding of the significance of these variables can help authorities make appropriate decisions to prevent and/or overcome problems related to municipal insolvency. [ABSTRACT FROM AUTHOR]

In the current crisis, citizens are demanding greater public sector transparency and accountability. In this paper, we advance the understanding of sustainability practices in public administration. We propose to compare the dissemination of sustainability of various regional governments, analyzing the websites of these regional governments through a content analysis, using for this purpose a list of items obtained from the Global Reporting Initiative (GRI) guidelines. Our results show that Spanish regional governments, spread two-thirds of the information in the GRI guidelines, being the social information which presents a higher level of response and corresponding general aspects which has a lower level of dissemination. In addition, those regional governments with greater environmental commitment are those who publish more information about sustainability. From our conclusions, we emphasize that the poor financial situation of the Spanish regional governments does not seem to promote them to disseminate information about sustainability. [ABSTRACT FROM AUTHOR]

Academic researchers and international organisations have highlighted the need for a more extensive analysis of public finance in small and medium-sized local governments, in view of the high levels of borrowing observed, often aggravated by rural depopulation. The purpose of this paper is to identify financial risks by population size of local governments, to design sustainability policies for public services in small and medium municipalities. We consider the situation of 6456 Spanish municipalities during the period 2009–2018 and find that certain demographic and socioeconomic factors influence the probability of loan default, in municipalities of all sizes. In smaller ones, the variables with most impact in this respect are socioeconomic, while among the demographic variables, female immigration and generational turnover are the most significant. In larger municipalities, the influence is more balanced between demographic and socioeconomic variables. Our results concludes that policies to reduce unemployment and the rate of generational turnover, as means of enhancing the financial viability of public services, should differ between small and large municipalities, especially as concerns employment promotion in the construction sector for persons aged 25–44 years. These employment promotion policies should pay special attention to female immigration, which is a risk factor for municipal default. • Policies that mitigate the default risk in local governments depend on population size. • We findings reveal valuable new information for the design of policies aimed to combat depopulation. • Socioeconomic variables have a greater influence on the default risk in municipalities with less than 5,000 inhabitants. • In the municipalities with a population of 20,000 to 50,000 inhabitants, the most influential variables are demographic. [ABSTRACT FROM AUTHOR]

This paper examines the sustainability transparency of governments, i.e., the disclosure of information on the sustainability of their actions. To do so, we identify contributory factors to the online disclosure of environmental, social, economic and general information by local governments in Nordic countries. Linear regression analysis was used to identify factors influencing the online dissemination of government information on sustainability; a factor analysis, as a precursor to linear regression, led us to reduce 14 explanatory variables to four factors: financial risk, demography, professional qualifications and local government resources. The results obtained show that local financial priorities have a greater impact on the sustainability-related content of governmental websites than does concern for the needs of the population. Furthermore, an organization's disclosure of its financial risks, together with greater awareness of stakeholders' demands, could promote transparency in the field of environmental, social and economic sustainability, while local demographic characteristics could foster the publication of information on environmental sustainability. [ABSTRACT FROM AUTHOR]

Governmental financial transparency is an essential element in the implementation of policies to overcome the present crisis of public finances. The international financial reporting standards aim to improve governmental transparency and accountability through the use of new accounting models. Based on an international empirical study involving the Supreme Audit Institutions of 29 countries, this paper examines the political decisions associated with the introduction of the fair value accounting (FVA) to improve governmental financial transparency. Our findings show that the application of FVA would require action in three areas of government public policy: regulatory reform, skills training for public-sector staff and internationalisation. [ABSTRACT FROM AUTHOR]

Public agencies should inform about their behavior in the space of the social responsibility not only to legitimate their existence but also to inform their stakeholders how they are responding to their demands. Web sites are a communication medium appropriate and accessible in this globalized and computerized world. In this context, the object of this investigation is to analyze the information related with the social responsibility that European town councils provide in their web pages, particularly of the main Nordic countries town councils. In addition, it will be analyzed if we can observe some similar guidelines of behavior applying the analysis cluster. The obtained results will allow to know the treatment that these countries give to the information related to socially responsible behavior and what are the main variables they are more responsive to. [ABSTRACT FROM AUTHOR]

Budgetary restrictions resulting from the present international economic crisis have tightened the need to improve efficiency in defense spending, leading to the armed forces having to undertake their duties with fewer resources. Previous reports on the subject have looked into the determining factors and effects of military spending but very few studies have analyzed the determinants for the modernization of the methodology for assessing efficiency. Thus, using a multiple regression statistical model, we have analyzed the appraisal systems in place in 28 countries to identify factors that influence the development of economic assessment of military expenditure. Our findings have revealed three factors that may favor the improvement of appraisal systems with regard to military expenditure: the quality of governance, size of the armed forces, and unemployment levels. [ABSTRACT FROM AUTHOR]

International organisations such as the EU, the OECD and the WBG have recommended that governments provide information to citizens about the sustainability of their public policies. Furthermore, previous studies have concluded that while stakeholders are demanding greater transparency from public entities about the sustainability of their actions, little research has been conducted into governmental information disclosure concerning sustainability. Accordingly, the aim of the present paper is to contribute to our understanding of sustainability practices and information transparency in this respect in governmental institutions, and thus enable improvements to be made in this field. In the view that e-government, based on information and communication technologies, is a key element in good governance aimed at achieving sustainable development, we identify factors that may promote the disclosure of information on the sustainability of public entities, by analysing the information content of regional governments' websites and its relationship with certain variables. Our main findings are that socio-economic factors such as education, population density and access to internet, and e-government factors such as the provision of public information online, the percentage of procedures completed after online start, the level of online services provided and broadband availability, are all relevant to the disclosure of sustainability information by regional governments. [ABSTRACT FROM AUTHOR]

This paper considers the extent to which the Governor's profile might influence the financial sustainability of the State government, via an empirical study of 50 US States during the period 2006-2013. The results obtained show that financial sustainability may be prejudiced when the State government experienced financial unsustainability during the previous year, and when it is led by a Governor who is a Democrat, Black, and/or long serving. A favorable influence on financial sustainability is produced when the Governor is female, serving in his/her home State, has children and has a college education. These findings highlight factors that should be considered with respect to promoting financial sustainability via public policies, providing valuable information to facilitate supervision by the State Legislature (General Assembly) and Supreme Audit Institutions. Moreover, these findings enable opposition parties and other stakeholders as citizens to evaluate the financial viability of electoral promises. [ABSTRACT FROM AUTHOR]

Abstract: This paper analyses the practices of disclosure of sustainability information by European local governments, with specific reference to the websites of major European cities, classed as Anglo-Saxon (English-speaking) or Nordic, according to the prevailing administrative culture. The empirical results obtained show that the local governments analysed are using their websites to disclose information regarding sustainability policies, a trend that is more pronounced in the Anglo-Saxon countries than in the Nordic ones. Our conclusions show that the respective traditions of these countries may influence their development of practices of transparency and accountability with respect to sustainability. We have identified some steps to improve the transparency about sustainability in local governments, and have designed a model sustainability report, identified the types of stakeholders and studied their information needs. [Copyright &y& Elsevier]

Analysis of the relations between family events and the demand for housing has, to date, received very little attention from researchers, although there can be no doubt that housing preferences vary with changing personal circumstances. The spectacular growth in the number of single-parent households throughout Europe highlights the timeliness and interest in studying the specific housing demands of this type of family. The aim of the present study is to contribute to empirical knowledge of the housing needs arising from a change in family circumstances to one of single parenthood. Therefore, we carried out a survey of 209 single-parent households in Spain, producing interesting findings on the housing demand by such families and on the factors determining this demand. [ABSTRACT FROM AUTHOR]

Although life cycle costing (LCC) is internationally considered the best instrument for evaluating investments in military equipment, its practical application remains insufficiently studied. This paper presents an international panorama of systems used for evaluating military investments, identifying the procedures and instruments most commonly employed, and identifying their strengths and weaknesses. The LCC methodology is then systematically applied, revealing opportunities for improvements. The research methodology is based on a questionnaire sent to 64 countries, inquiring into their standard practice regarding decision taking, cost estimation, risk management and performance indicators. The results obtained show that the main limitations facing these countries in employing LCC methodology concern weaknesses in their organizational structures and in their technical regulations, with particular respect to cost breakdown structures. Also significant are the scant number of cost estimation models available, the absence of up-to-date, reliable databases and the limited use made of appropriate techniques for risk and uncertainty estimation. [ABSTRACT FROM PUBLISHER]

Abstract: Research has shown that defence spending has repercussions on government policies and economic growth. At an international scale these implications, together with current financial difficulties affecting governments, justify the timeliness and interest of studying defence policies from the standpoint of efficiency. Many authors and international bodies such as NATO consider Life Cycle Costing (LCC) the best model for improving the efficiency of military investments. This paper examines the political repercussions in different countries of introducing the LCC model. The research methodology is based on a questionnaire that was replied to by the defence departments of 28 countries, classified as developing or developed. [Copyright &y& Elsevier]

One of the most significant changes affecting family structures in Europe over the last few decades is the remarkable increase in the number of lone-parent families as a result of the dissolution of relationships. Housing is one of the primary needs that arises. Attitudes for coping with the situation are varied and are determined by a number of factors-legal/legislative framework, finances and employment, psycho-social factors-which all affect men and women differently in terms of housing. The main goal of this research is to address, from the gender perspective, the constraints, needs and preferences expressed by men and women who become lone parents as a result of separation. The paper has adopted a qualitative method based on discussion groups, including a sample of divorced or separated men and women living as lone parents in Southern Europe. [ABSTRACT FROM AUTHOR]