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To become financially self-sustainable, Microfinance Institutions (MFIs) trigger a schism in their management modes, thereby promoting efficiency and competitiveness. The increase of competition in...

Depuis quelques annees, la viabilite financiere des autorites locales est consideree comme un concept d’une importance cruciale pour garantir le maintien des services publics pour les generations futures. Meme si de nombreux pays europeens ont mis en œuvre des programmes visant a ameliorer leur viabilite financiere, les autorites locales se caracterisent par des traditions administratives variables et obtiennent des resultats variables egalement a la suite reformes entreprises. En adoptant une approche comparative, la presente etude identifie les facteurs institutionnels, macro-economiques et microeconomiques susceptibles d’influencer la viabilite financiere des autorites locales en Angleterre et en Espagne afin de determiner et d’expliquer les points communs et les differences entre les facteurs de motivation et les facteurs de risque concernant la viabilite financiere dans la prestation de services publics par les autorites locales.Remarques a l’intention des praticiensLe present article s’appuie sur trois grandes theories (theorie de l’agence, theorie neo-institutionnelle et theorie des parties prenantes) liees aux facteurs institutionnels, macro-economiques et microeconomiques determinant la viabilite financiere et vise a identifier ces facteurs en comparant differents contextes (contextes anglais et espagnol). Cette identification des facteurs qui influencent la viabilite financiere des municipalites pourrait permettre de mieux comprendre ce que les decideurs politiques auraient pu faire pour prevenir la crise, ce qu’ils devraient faire pour eviter des echecs similaires a l’avenir et comment la prestation de services publics a long terme peut etre assuree.

International organizations such as OECD, WBG, IMF, UN and EU, as well as research studies, have highlighted the increasing contribution being made by microcredit finance institutions (MFIs) to financial inclusion, sustainable economic development and the fight against poverty However, access to MFI credit is still far from the desired level for small and micro-enterprises, especially in developing countries The countries of Latin America and the Caribbean, where approximately half of the small formal companies do not have access to credit, have the world's highest financial gap ratio compared to potential demand (87%) In this context, effective instruments are needed to assess default risk, through credit ratings Based on the Basel III regulations, an empirical study was conducted of two microcredit portfolios corresponding to two MFIs in two Latin American countries (Bolivia and Colombia) during the period 2012–2015, to identify the explanatory variables of the probability of default on loans granted by MFIs, using a logistic regression model and a neural network The results obtained show that the main variables in this respect are the amount of the loan, the number of payments in arrears, the guarantees provided, the assessment of the credit analyst, male gender of the borrower and the level and trend of the general stock exchange index The conclusions presented advance previous research findings and may be useful for MFI managers, regulatory institutions, financial analysts, scholars, policy-makers and applicants for microcredits to undertake a business project, especially in times of emerging crisis, such as that caused by the Covid-19 pandemic © 2021 John Wiley & Sons, Ltd

Throughout Europe, one of the main problems facing policymakers is that of falling rural populations. In many cases, this is aggravated by high levels of local government borrowing. Although researchers have sought to determine the causes of this debt, much remains to be known about the factors influencing the default risk of small- and medium-sized towns, information that would help them formulate policies to combat the loss of population. The aim of our study is to identify factors relevant to this default risk. We analyzed demographic, socioeconomic, and financial factors in a sample of 6456 Spanish local governments by their population size. Our findings show that financial policies applied to reduce this risk should vary according to the population size, as certain factors exert a specific influence on smaller municipalities. Nevertheless, socioeconomic and financial variables have more impact on default risk than demographic factors. Our findings are novel and useful for all concerned in combating the depopulation of rural areas in Europe, owing to the relevance of conclusions for the design of public policies based on the sustainability of public services in small municipalities. Points for practitioners The measurement of the default risk in local governments reveals very relevant information for the design of public policies against depopulation. Socioeconomic and financial variables have more impact on default risk than demographic factors. The evolution of the measurement of default risk reveals that policies against depopulation must be defined based on the size of the municipalities. The influencing factors on the default risk are interesting to decide if finance government investments through loans that allow the repopulation of small municipalities.

International organisations assert that political corruption is a major global problem. However, it is still unclear how to combat corruption. Previous research has studied corruption in central or local governments, rarely in regional ones. In this paper, we aim to identify factors influencing political corruption in regional governments. Using panel data, we analyse the statistical association between 29 economic, financial, political and socioeconomic variables and the corruption perceived by citizens, from January 2006 to September 2019. The results reveal that perceived political corruption is affected by government spending and ideological distance, among other factors. We propose several measures to reduce political corruption. Points for practitioners The study has found that political corruption needs to be combatted through different measures for each administrative level. Our results support the idea that the following variables influence the perceived level of corruption within the regional governments: the volume of government borrowing, the ideological distance between the voter and the government, the percentage electoral participation and the volume of dependent and immigrant population of the region. Likewise, we also confirm that regional governments with higher values on the Quality of Government Index are perceived as less corrupt.

Since the outbreak of the international economic crisis in 2008, governments’ fiscal policies have been strongly influenced by high levels of public debt and default. Studies of the causes of debt problems for large local governments have emphasised the interest and timeliness of identifying factors that may influence the probability of municipal default, and have concluded that fiscal policies should be defined according to population size. The present empirical study was conducted on a sample of 1476 local governments, with data for the period 2009–2014, to determine the influence of financial, socioeconomic and population factors on default risk in small, medium-sized and large municipalities. The results obtained show that the factors that influence the risk of default vary according to the size of the municipality, although some are common to all or most cases, such as real estate taxes, vehicle taxes, financial autonomy and per capita income. The main elements found to vary according to municipal size are overall immigration, female immigration, female unemployment and proximity to the next elections. Our findings show that the financial risk of local governments is affected not only by population size but also by financial and socioeconomic variables. These results can help policymakers to design fiscal policies appropriate for the size of each municipality, thus contributing to avoiding bankruptcy, cuts in public spending and tax increases. Our study findings may be of interest to politicians, managers, fiscal authorities, central governments, supervisory bodies, financial institutions, banks, voters, taxpayers and users of public services.

The aim of this paper is to examine the influence of the right to information laws on sustainability transparency in European local governments. This goal is novel, in that previous studies have examined the effects of various factors on the dissemination of government information (demographic, socioeconomic, political and financial) but not the contribution of legal factors to online transparency on environmental, social and economic sustainability. Our research question is this: Do information laws contribute to transparency on sustainability? Using the Global Reporting Initiative guidelines and a statistical regression analysis, we studied the websites of 106 local governments in ten European countries. The results obtained show that when transparency laws clearly stipulate the rules applicable and the procedures established for appeals, exceptions, refusals and requests, this can favour transparency on environmental, social and economic sustainability. Our findings advance understanding of this field and reinforce the basis for legal reforms to enhance sustainability transparency.

This paper identifies some of the important factors that influence the financial sustainability of regional governments. Data from all of Spain’s regional governments show that unemployment, immigr...

In recent years, the financial sustainability of local authorities has been recognised as a concept of crucial importance in ensuring that public services may continue to be delivered to future generations. Although many European countries have implemented programmes to enhance their financial sustainability, local authorities are characterised by differing administrative traditions and achieve diverse outcomes in response to the reforms made. Taking a comparative approach, the present study identifies institutional, macroeconomic and microeconomic factors that might influence local authorities’ financial sustainability in England and Spain in order to determine and explain similarities and differences in the drivers and risk factors for financial sustainability in local authorities’ provision of public services. Points for practitioners This article is based on three major theories (agency theory, neo-institutional theory and stakeholder theory) related to the institutional, macroeconomic and microeconomic factors determining financial sustainability and aims to identify these factors comparing different contexts (English and Spanish contexts). This identification of factors that influence municipal financial sustainability could clarify what policymakers might have done to prevent the crisis, what they should do to prevent similar failures in the future and how the long-term provision of public services may be ensured.

In recent years, research findings and pronouncements by international organisations have recognised the usefulness and timeliness of advancing public policies to promote sustainable building. However, in many parts of the world, governmental measures have limited their scope mainly to energy efficiency in housing use. In the same vein, some experiences in different countries have revealed the need to study further governmental or stimulation drivers that can boost sustainability in building, renovation, and dwellings. This paper aims to contribute to the design of public policies that promote sustainable building. Our paper seeks to identify specific drivers that can help governments boost sustainability in building, renovation, and dwellings through a multi-stakeholder survey. Our findings show the specific drivers to be of three types: fiscal, financial, and government interventions. It is the respondents’ opinion that public policies can help promote sustainable housing. Financial drivers are the most highly rated, followed by fiscal drivers and then government interventions., ERDF project with reference B1-SEJ-217- UGR18, Department of Economic Transformation, Industry, Knowledge and Universities (Regional Government of Andalusia), Technologies for Circular Economy of the University of Granada - Research group TEP-968

Although transparency on the sustainability of public services is an issue of urgent interest to both governments and academics, previous research in this area has mainly focused on developed European countries, and has paid insufficient attention to areas that are still developing, such as many Latin American countries. The aim of this study is to identify factors that promote transparency on sustainability by local governments in Latin America, in the view that greater transparency will help them meet the goals of the 2030 Agenda for Sustainable Development. Therefore, using content analysis and following the GRI guidelines, we analyze the economic, social and environmental information published on the websites of 200 large local governments in 18 Latin American countries. In addition, using linear regression and calculating the corresponding Spearman coefficients, we analyze the influence of idiosyncratic and systemic variables on the volume of information disclosed. Our findings show that certain factors—population size, education level, unemployment, the quality of legislation and political corruption—affect transparency on sustainability. The conclusions drawn from this analysis enable us to identify useful measures for enhancing transparency on sustainability, including the reform of transparency laws and the analysis and disclosure of citizens’ information demands., European Commission, Junta de Andalucia B1-SEJ-317-UGR18

Studies have shown that political variables can infl uence 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 infl uence 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 artifi cial neural network. The empirical results indicate that the fi nancial risk of local governments is affected both by political factors specifi c to each case and, simultaneously, by systemic variables for the country. Specifi cally, 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 fi nancial 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 fi ndings presented are of great potential interest for governments, managers, national and international fi scal authorities, fi nancial regulators, and citizens at large, because an understanding of the signifi cance of these variables can help authorities make appropriate decisions to prevent and/or overcome problems related to municipal insolvency.

The aim of this study is to provide useful knowledge to policy makers and practitioners on how to promote the practices of sustainability transparency in local governments, based on the influence o...

Purpose The purpose of this paper is to obtain new knowledge about the accounting measurement of financial sustainability in local governments, by studying the influence of political factors on the evolution of income statements. Design/methodology/approach This paper analyses income statements of Spanish municipalities from 2006 to 2014, together with mayor profiles and political-institutional factors, using the generalised method of moments system. Findings The income statement represents a useful measure to assess financial sustainability, showing the effect of political factors on three dimensions proposed by IFAC (i.e. service, revenue and debt), such as ideological coincidence, political competition, political ideology, and absolute majority or political fragmentation. Practical implications The findings can be useful for policymakers and accountants responsible for accountability, supervisory bodies, fiscal authorities, voters, users of public services and other stakeholders interested in governmental income statements. Social implications In the Eurozone, the crisis of government finance has made the citizens and the policymakers question the size and volume of public services. Likewise, in countries such as Spain, politicians remain one of the main problems for citizens. These circumstances make it very interesting and timely to study the accounting measurement of financial sustainability and its political explanations. Originality/value The findings provide new empirical evidence about the accounting measurement of financial sustainability in local governments, and they identify political factors that influence the evolution of income statements.

Les organisations internationales, ainsi que des etudes anterieures, ont exprime des preoccupations au sujet de la situation financiere des gouvernements locaux, et la question de l’endettement a ete identifiee comme un element crucial des efforts visant a surmonter la crise financiere actuelle. Cependant, les variables susceptibles d’affecter la bonne sante financiere de ces gouvernements n’ont pas ete suffisamment etudiees, en depit de leur relation directe avec la prime de risque de credit. Dans le present article, nous cherchons a identifier les facteurs de risque de defaut de paiement des gouvernements locaux, et a fournir des informations utiles aux gestionnaires financiers des municipalites. Nous avons procede a l’etude empirique de 148 municipalites espagnoles et avons analyse les donnees de quatre exercices, en appliquant un modele de regression logistique a effets aleatoires. Nos conclusions revelent qu’une population moins dense, ou moins dependante, une baisse des niveaux de revenu par habitant, ainsi que la presence de dirigeants locaux progressistes, constituent autant de facteurs de risque de defaut de paiement des gouvernements locaux. De plus, nos conclusions indiquent que la variable de la structure financiere generale ainsi que la celle de la composition de la dette et de sa maturite influencent le risque de defaut de paiement des gouvernements locaux.Remarques a l’intention des praticiensLes conclusions du present article sont susceptibles de fournir des informations utiles pour les gestionnaires et les politiciens responsables de la gestion financiere des gouvernements locaux, plus particulierement en leur permettant de mieux comprendre les primes de risque assignees par les banques. Plus specifiquement, en identifiant les facteurs de risque de defaut de paiement, le present article met en exergue les signes d’avertissement correspondant a ce risque, de sorte que des arguments pertinents puissent s’exprimer lorsqu’il s’agit de negocier les calendriers de remboursement et les taux d’interet, ainsi que de concevoir des plans de viabilite financiere et de restructuration.

High levels of debt, provoked by a situation of economic and financial crisis, constitute a major threat to the financial sustainability of governments in the euro zone and in many other parts of the world. This delicate state of public finances also affects local governments and has led researchers to study the variables that influence the volume of bank debt. However, few have specifically analysed the causes of local government default, although it has provoked spending cutbacks and tax increases in many countries. The aim of this paper is to examine political factors that may increase the risk of local government default. Using a logit model for panel data and applying the Basel II rules, we studied the financial performance of large local Spanish governments for the period 2006-2011. Our empirical findings reveal four political factors that may increase the risk of default (the mayor’sknowledge of finance and economics, a low percentage of women councillors, a left-wing ideology and ideological alignment with the regional government).These findings are of great interest for stakeholders who may be affected by local government default, including voters, taxpayers, users of public services, managers, policymakers, financial institutions, creditors, fiscal authorities and central government.

In governments throughout the world, bank lending excesses, solvency issues and worsening credit ratings have all contributed to raising risk premiums and impeding access to credit, thus provoking a major financial problem in the public sector. Accordingly, tax authorities and regulators need to analyse the causes of public sector bank debt, doing so through the joint study of idiosyncratic and systematic variables, an area that has been neglected in previous research. This paper examines idiosyncratic and systematic factors that may influence local government credit risk through an empirical study of the performance of 148 large Spanish municipalities during 2006–2011. We identify individual factors relevant to the probability of local government default (such as dependent population, per capita income and debt composition) and also determinants associated with macroeconomic developments, such as gross domestic product and the risk premium.

ResumenAlgunos trabajos previos y los pronunciamientos de organismos internacionales (OTAN, GAO) han considerado el coste del ciclo de vida (LCC) como la metodología de selección de inversiones más avanzada para contribuir a la eficiencia del gasto militar, lo que representa una especial oportunidad para los investigadores considerando la obligada austeridad y las restricciones presupuestarias de los gobiernos. En cualquier país, la viabilidad del LCC exige el previo cumplimiento de los requisitos establecidos por tales organismos para la aplicación de este modelo. El objetivo del presente trabajo reside en identificar las mejoras necesarias para posibilitar la implantación del LCC en los sistemas de evaluación económica de las Fuerzas Armadas de España. A tal fin, hemos estudiado la adecuación de los actuales sistemas españoles a los requerimientos del LCC, realizando, además, un análisis comparativo con los sistemas de países europeos y norteamericanos, lo que nos ha permitido identificar reformas de adaptación dirigidas a alcanzar la factibilidad de este modelo en el Ministerio de Defensa español, sobre la base de las debilidades y fortalezas detectadas en nuestra investigación empírica.AbstractPrevious studies and the pronouncements by international organisations (NATO, GAO) have considered the Life Cycle Costing (LCC) as the most advanced methodology for the economic assesment of the efficiency of military spending. This provided a good opportunity for researchers considering the forced austerity and budget constraints of governments. In any country, the viability of LCC requires prior compliance with the requirements issued by such organisations for the implementation of this model. The aim of this paper is to identify the improvements required to enable the implementation of LCC in economic evaluation systems of the Armed Forces of Spain. A study was performed on the adequacy of current Spanish economic systems to the requirements of LCC, as well as conducting a comparative analysis with the systems of European and American countries. This enabled reforms to be identified in order to achieve the feasibility of this model in the Spanish Ministry of Defense, based on the strengths and weaknesses detected in our empirical research.

The economic crisis has led international organizations and previous research to point out the need for measuring and controlling financial sustainability in governments. Based on the main international pronouncements, this article seeks to contribute to the measurement and management of the financial sustainability, analysing the income statement evolution and identifying its influential factors. An empirical study of Spanish municipalities is then undertaken to test the relationship between the measure of the financial sustainability and three dimensions proposed by International Federation of Accountants (IFAC) (revenues, debt and services). Our findings indicate that the income statement is a good approach for the financial sustainability assessment, because it reveals relevant information about its three dimensions, allowing to identify the specific factors which could provoke sustainability problems on public services.

In recent years, financial sustainability (FS) of public policies has become a key concept in all governmental levels due to the need for ensuring public services delivery for future generations. Prior research has been focused on the financial sustainability in local governments (LGs) although its findings suggested the need to analyze this magnitude in other levels of government because political decisions could be different in each type of public entity. So, FS has also become very relevant in the Regional Government (RGs) context because their public policies affect not only at the regional level but also the local one. Therefore, from a comparative approach, this paper seeks to identify socio-demographic factors which could influence on the financial sustainability, in the Spanish context for both LGs vs. RGS in order to establish public policies to make sustainable public goods and services. Findings demonstrate that differences in influential factors between these two levels of public administration exist: factors such as population size and foreign population could have an effect on the financial sustainability of both governmental levels while the unemployment rate, dependent population, and population density affect differently on LGs and RGs.

Developers and managers of websites are key players in conveying the transparency of governments. Although previous research has highlighted the need for further progress in transparency on sustainability, very few studies have considered how websites can better contribute to providing sustainability information. This paper identifies determinant factors that can help website developers and managers enhance the online transparency on sustainability provided by regional governments. In an empirical study of 17 Spanish regional governments, we identified technological factors (such as broadband availability and the online compilation of information) and transparency-stimulating factors (such as convergence with the information society, accessibility and usability) that can be useful to increase the volume of social, economic and environmental information published on their websites.

Concern has been expressed by international organisations and in previous studies about the financial situation of local governments, and the question of debt has been identified as a crucial element in efforts to overcome the current financial crisis. However, the variables that can affect the financial soundness of these governments have not been sufficiently studied, despite their direct relation to the credit risk premium. In this article, we aim to identify risk factors for default by local governments, and provide useful information to municipal financial managers. We conducted an empirical study of 148 Spanish municipalities and analysed data from four years, applying a random effects logistic regression model. Our findings reveal that a lower population density, less dependent population, falling levels of per capita income and the presence of progressive local government are all risk factors for default by local governments. Furthermore, our findings indicate that the general financing structure variable and debt composition and maturity variable do influence the risk of default by local governments. Points for practitioners The findings of this article can provide useful information for managers and politicians responsible for the financial management of local governments, in particular, by enabling them to better understand the risk premiums assigned by banks. Specifically, by identifying the risk factors for default, this article highlights the warning signs of this risk, so that suitable arguments may be expressed in negotiating loan repayment schedules and interest rates, and in designing financial viability and restructuring plans.

Although the transparency and sustainability of governments are currently of great interest to researchers, few studies have specifically addressed these issues. Nevertheless, previous research has found sustainability transparency as a key issue in government–citizen relations, especially for local governments (LGs). The aim of this article is to identify factors that promote online transparency regarding the sustainability of public policies, by means of an empirical study of 62 LGs in the United Kingdom, Ireland, and Southern Europe. Our results show that the prevailing administrative tradition may influence the degree of transparency of LGs, with population, socioeconomic, and financial factors being relevant.

The current international crisis in public finances has made financial sustainability a key issue for governments. Although the European Union (EU) and other international organisations have recommended governments to monitor demographic and economic variables, few studies have considered the influence of these variables on financial sustainability. This paper seeks to identify and analyse the drivers and risk factors that influence the financial sustainability of local government. The findings identify both risk factors (unemployment and population aged under 16 years) and drivers (budgetary outcome) of financial sustainability, which may constitute a useful basis for decision-taking by managers and policy-makers.

Previous studies have highlighted the question of government loan interest as one of great current importance. Government borrowing levels are high, and reducing interest payments would generate savings to meet other spending needs and/or to lower taxation, thus supporting the sustainability of public finances. However, no previous study has presented a method for a local government to calculate its own credit risk and thus be in a position to negotiate lower interest rates on its borrowing. This article defines a financial model that enables local governments to estimate the interest rate payable on a bank loan, based on their credit risk premium, in accordance with the Basel II rules and the findings of our empirical study of large local governments.

Meme si les organisations internationales et la litterature existante reconnaissent l’importance des rapports sur la durabilite pour les gouvernements de nos jours, certaines etudes revelent que cette question n’a pas recu l’attention qu’elle merite et qu’elle doit des lors etre examinee de plus pres. Dans le present article, nous etudions la publication par les gouvernements locaux des informations sur les questions de durabilite, en analysant la relation entre les differents niveaux de divulgation des informations sur la durabilite et certaines variables socioeconomiques, financieres et demographiques. Compte tenu du recours accru a l’Internet par les gouvernements, la methodologie appliquee dans la presente etude consiste a analyser les sites Web de 55 grandes villes espagnoles pour y rechercher 61 elements recommandes dans les lignes directrices de la Global Reporting Initiative. En appliquant une regression lineaire multiple, nous avons analyse l’influence de treize facteurs sur les rapports sur la durabilite publies par ces autorites municipales. Les resultats indiquent que les informations sociales sont les plus repandues et que la population inactive a une influence positive sur la divulgation des informations sur la durabilite. Les principaux moyens d’ameliorer les pratiques en matiere de durabilite consistent a ameliorer la divulgation des informations economiques et en matiere d’environnement, par la publication de rapports formels sur la durabilite et en ameliorant la coordination des informations publiees individuellement par differents departements.Remarques a l’intention des praticiensLes resultats obtenus font ressortir plusieurs questions particulierement interessantes pour les gestionnaires. D’une part, la crise financiere dans le secteur public a fait ressortir la necessite de legitimer les actions du gouvernement. De plus, l’incidence de la variable « population inactive » sur la divulgation des informations sur la durabilite indique qu’il existe un lien important entre la structure de la population et la divulgation de ces informations, ce qui fait ressortir la necessite de considerer l’âge de la population et son evolution au fil du temps comme la raison d’etre de la creation de rapports specifiques sur la durabilite. La demande d’informations sur la durabilite de la part du public ne depend pas du niveau d’impots payes. Enfin, le niveau d’autonomie des gouvernements locaux n’a aucune influence sur les informations divulguees a propos de leurs engagements en matiere de durabilite economique.

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.

Nowadays, the transparency of governments with respect to the sustainability of public services is a very interesting issue for stakeholders and academics. It has led to previous research and international organisations (EU, IMF, OECD, United Nations, IFAC, G-20, World Bank) to recommend promotion of the online dissemination of economic, social and environmental information. Based on previous studies about e-government and the influence of administrative cultures on governmental accountability, this paper seeks to identify political actions useful to improve the practices of transparency on economic, social and environmental sustainability in European local governments. We perform a comparative analysis of sustainability information published on the websites of 72 local governments in 10 European countries grouped into main three cultural contexts (Anglo-Saxon, Southern European and Nordic). Using international sustainability reporting guidelines, our results reveal significant differences in local government transparency in each context. The most transparent local governments are the Anglo-Saxon ones, followed by Southern European and Nordic governments. Based on individualized empirical results for each administrative style, our conclusions propose useful policy interventions to enhance sustainability transparency within each cultural tradition, such as development of legal rules on transparency and sustainability, tools to motivate local managers for online diffusion of sustainability information and analysis of information needs of stakeholders.

Although international organizations and prior literature have recognized the importance of sustainability reporting for governments nowadays, some studies have revealed that this is an issue that has received little attention and thus needs further investigation. This article studies the publication of information on sustainability issues by local governments, analysing the relationship between diverse levels of sustainability information disclosure and some socioeconomic, financial and population variables. Based on the increased use of the Internet by governments, the methodology applied in this study is to analyse the websites of 55 major towns and cities in Spain, seeking 61 items that are recommended in the Global Reporting Initiative guidelines. By applying multiple linear regression analysis, we analysed the influence of 13 factors on the sustainability reporting provided by these municipal authorities. The results show that social information is the most widespread, and that the dependent population has a positive impact on the sustainability disclosures. The major opportunities to improve sustainability practices lie in improving the disclosure of economic and environmental information, through the publication of formal sustainability reports and the enhanced coordination of information published individually by different departments. Points for practitioners The results obtained highlight several issues of particular interest for managers. On the one hand, the public sector financial crisis has heightened the need to legitimize government actions. Moreover, the incidence of the variable ‘dependent population’ on the disclosure of sustainability information suggests that there is an important relation between the population structure and such disclosure, highlighting the need to consider the age of the population and its evolution over time as the basis for creating specific reports on sustainability. The public demand for information on sustainability does not depend on the level of taxes paid. Finally, local governments are not motivated by their level of financial autonomy with respect to information about their commitments on economic sustainability.

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.

In order to evaluate financial sustainability, public sector managers are being pressured to provide better financial information and information transparency. This article examines the role of accounting in assessing the sustainability of local governments and analyses of the usefulness of annual income statements in the measurement of ‘inter-period equity’.

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.

In the present context of international public finance crisis, the analysis of government sustainability is considered of vital importance, and a significant element in this is the accounting measurement of intergenerational equity. The aim of this paper is to identify factors that may influence the financial sustainability of local government, doing so through the analysis of 116 local administrations in Spain. Based on Pearson correlation analysis, our main findings show that the annual budget result is a key determinant of local government financial sustainability, and highlight the value of controlling the balance of budget expenditures in preventing future problems of viability for these local authority services.

Although the importance of sustainability reporting in the public sector is widely recognized, there are few studies about this issue. This paper analyzed the practices of diffusion of information on sustainability in local governments. So, we observed the Websites of the largest local governments in Spain using a list of items from the guidelines of GRI and comparing the results with the results of the Spanish regional governments. Our findings show that local governments reported some information (50% of the items), but less than regional governments (60%). Social information is the most widespread and environmental information is the least reported.

Changes in financial reporting systems are relevant to the usefulness of governmental financial reporting in implementing New Public Management (NPM) reforms. The International Public Sector Accounting Standards, published by the International Federation of Accountants, seeks to improve the financial information reported. The aim of this paper is to analyze whether Fair Value Accounting (FVA) could improve the usefulness of governmental financial statements for citizens under NPM reforms. To achieve this aim, this paper examines the opinions of the National Accounting Standards Setters on the utility of FVA in the introduction of NPM models in countries under different administrative traditions. Our results show that FVA could promote successful NPM reforms, enhancing the implementation of the postulates of efficiency, transparency, and benchmarking analysis. Likewise, the administrative tradition could influence National Accounting Standards Setters’ viewpoints regarding the capability of financial information based on FVA to meet the new information requirements under NPM models.

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.

La alarmante escasez de recursos que experimentan los gobiernos locales gracias a la crisis mundial ha aumentado el interés de políticos y gestores por la medición de la eficiencia de los servicios prestados. Para poder evaluar el desempeño de las actuaciones públicas, se requiere disponer tanto de información financiera externa como de datos de costes y datos no financieros, ya que los sistemas contables de los ayuntamientos contribuirán a mejorar su capacidad de responder a las necesidades informativas propias del control de eficiencia. En el presente trabajo se formula una propuesta metodológica para diseñar e implantar un modelo de costes en el marco de un sistema contable integral para la administración local, considerando tanto la problemática económica que conlleva el mismo como su tratamiento informático.

Due to the economic and financial crisis, the international organizations, especially the EU, have pointed out the necessity of studying government financial sustainability focusing on the demographic changes in order to identify potential drivers and risk factors . Indeed, the EU explains that the birth rate and the immigrant population could help soften the negative influence of the elder population and unemployed people on financial sustainability. Based on an analysis of the Spanish local governments during a 9-year period, this chapter seeks to empirically justify the EU’s concern regarding demographic changes. Findings indicate that the dependent population and the unemployment rate are risk factors for financial sustainability. Moreover, the birth rate and immigrant population has no the significant and positive influence expected. These findings could be used as management tools in order to provide useful information to policymakers and managers for making appropriate decisions about financial sustainability.

INTRODUCTIONIn recent years, single-parent households have become one of the fastest-growing family structures, and there are now over four million such families in the European Union; nevertheless, their specific accommodation needs have received little attention to date. Despite the growing presence and social impact of single-parent families, and although it is fairly well established that the breakdown of relationships often means that at least one of the partners ceases to live in the previously shared property, little analytical attention has been paid to the effects of the transition to significant levels of single parenthood on the characteristics of housing demand (Feijten, 2005; Smith et al., 2006; Dewilde, 2008), especially in countries such as Spain. Therefore, a study of this effect would be a research topic of great timeliness and interest, as, in accordance with Winstanley et a. (2002), the environmental, social and personal stories implicated in housing decisions and experience of home cannot be separated from the context of marriage and divorce. Moreover, we agree with Gram-Hanssen and Bech-Danielsen (2008) that a separation is not only from a former partner, it provokes a total change in everyday life and identity, and the housing situation plays an important role in all respects.As observed by Bradbury and Norris (2005) ". . . apart from birth and death, marital separation is the family structure change that has the most dramatic impact on the lives of family members ..." Thus, one of the primary needs of all single-parent families following a separation is that of housing. The change to a situation of single parenthood changes the family structure and hence the type of accommodation required (Feijten and Mulder, 2002). Separation and divorce mean, necessarily, that the parents cease to share a domicile, and so a new home must be found, for at least one of the partners. This change of residence does not correspond exclusively to the parent who leaves the family home, who may also remain there, taking responsibility for custody and care of the children. There are diverse strategies and attitudes to be addressed in such a situation, and they are marked by judicial-legislative, financial, job-related and psycho-social circumstances that affect men and women with respect to housing.In this sense, the appropriateness of studying the specific needs of single-parent families has been defended by Feijten and Van Ham (2010), who identified two main factors justifying the current interest in studying the effects of marriage breakdown on the demand for accommodation: a) the increased rate of cohabitation; b) the increased number of persons who at some time have undergone a divorce.Nonetheless, an analysis of the main international publications in this field shows that researchers have rarely focused specifically on the relations between housing, on the one hand, and family and household issues, on the other. This is apparent in the very limited number of papers published on the relations between housing and, for example, household composition, and the formation and dissolution of households (Mulder and Lauster, 2010). Nevertheless, it is quite clear that in the course of persons' lifetimes, family and housing events are strongly interrelated, this interrelation becoming apparent in the creation, modification or breakdown of the family unit (Mulder 2006a, 2006b). The scant number of studies of the family-housing connection, together with the difficulties encountered in clarifying the causal relations between family and housing events, underline the need for greater attention to be paid to this area of investigation (Gram-Hanssen and Bech-Danielsen, 2008; Feijten and Van Ham, 2010).The particular accommodation needs of single-parent families have been examined by Jacobs et al., (2003), who highlighted the trend for new spatial subdivisions, combining the continuing existence of traditional common spaces with other, new ones, that are private or exclusive, with few possibilities for family interaction. …

espanolEn el actual contexto de crisis, los ciudadanos demandan al sector publico mayor transparencia y rendicion de cuentas. Este trabajo pretende avanzar en el conocimiento de las practicas de sostenibilidad en la administracion publica. Para ello proponemos comparar la divulgacion de informacion sobre sostenibilidad realizada por distintos gobiernos regionales, analizando las webs de los mismos mediante un analisis de contenido, usando para ello un listado de items basado en las guias del Global Reporting Initiative (GRI).Nuestros resultados muestran que los gobiernos regionales espanoles difunden dos tercios de la informacion requerida por el GRI, presentando la informacion social un nivel de respuesta mayor y la informacion general un menor nivel de difusion. Ademas, aquellos gobiernos regionales con mayor compromiso ambiental publican mas informacion sobre sostenibilidad. De nuestras conclusiones podemos destacar que la mala situacion financiera que atraviesan no parece impulsar a los gobiernos regionales espanoles a divulgar informacion sobre sostenibilidad EnglishIn 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

In many countries, the economic crisis brought high volumes of deficit and debt in public entities, which jeopardized the ability of governments to continue providing public services and caused considerable imbalances of economic growth in different regions. In this context, from the recognition of the linkage between economic development and efficiency in public management, previous research indicates that local governments are called to play a key role in promoting sustainable development through environment, economic and social policies based on financial sustainability of the public services. This paper aims to identify influencing factors on the financial sustainability of local governments, as an indicator of their capacity to maintain the delivery of public services over time. Based on a sample of 139 Spanish municipalities with large population for the period 2006–2014, our findings reveal the influence of variables such as the unemployment rate by sector, the dependent population, the immigrant population and the level of education of the population, on the financial sustainability in local governments, providing new useful knowledge to managers, policymakers, researchers and others stakeholders interested in the sustainability of public services.