(215) RBM, similar to other regulators involved in overseeing mobile money, views the use of agents as an outsourcing arrangement between the mobile money provider, referred to as an E-Money Service Provider (EMSP) in the E-Money Regulations, and its agents.
The third is an active regulator which is designed to reduce operational risk by giving a regulator powers to monitor whether the EMSP is complying with the terms of the trust deed, including auditing requirements.
In a trust arrangement, the beneficiaries (in this case mobile money customers) are usually responsible for monitoring whether the EMSP is complying with the terms of the trust deed.
(274) Under the E-Money Regulations, the EMSP is required to open a trust account at one or more commercial banks, and a variety of provisions outline how these accounts should be operated.
First, it could require the EMSP to use a trust deed with a declaration of trust which can create the fund isolation protection.
In all the reported models the coefficient on the union recognition variable is estimated to be positive and statistically significant at the 1% level.(7) The establishment-level EMSPS data in Table 2a suggest that unionized establishments are some 17% more likely to provide training for manual workers in the year preceding the survey; they are about 7% more likely to have provided training for non-manual workers.
In the EMSPS models, unionized establishments provide about 0.9 days more training than do nonunion establishments over the year before the survey for both manual and non-manual workers.
Using the EMSPS data, for both probit models and, in the case of manual workers, for the Tobit model, we could not reject the hypothesis that the coefficients for the union and nonunion segments were equal.
With the EMSPS data, the result for the model of training intensity for non-manual workers was a marginal union impact of 0.82 days, which is not much lower than the estimate of 0.86 from the basic model without interactions as given in Table 2a.
Both WIRS3 and EMSPS involved structured face-to-face interviews conducted by experienced interviewers.
The variables proxying flexibility and team working used in this paper derive from EMSPS. They are responses to a question asking whether the management has undertaken measures either to promote flexible working among a group of employees and/or to train them in effective teamwork and team leadership: It is rare that such direct questions are asked about phenomena which are so central to the debate about work-system innovations.
This is undoubtedly due, in part, to the broad definitions of these two phenomena which were used in EMSPS. The measure therefore probably conflates firms which operate comprehensive systems of flexible assignment and team working and those which have simply introduced some elements of both.