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on Economics of Strategic Management |
| By: | Derya Findik (Science and Technology Policy Studies Program, Middle East Technical University); Aysit Tansel (Cornell University, Middle East Technical University, IZA, and ERF Cairo) |
| Abstract: | This chapter analyzes the effect of intangible investment on firm efficiency with an emphasis on its software component. Stochastic production frontier approach is used to simultaneously estimate the production function and the determinants of technical efficiency in the software intensive manufacturing firms in Turkey for the period 2003-2007. Firms are classified based on the technology group. High technology and low technology firms are estimated separately in order to reveal differentials in their firm efficiency. The results show that the effect of software investment on firm efficiency is larger in high technology firms which operate in areas such as chemicals, electricity, and machinery as compared to that of the low technology firms which operate in areas such as textiles, food, paper, and unclassified manufacturing. Further, among the high technology firms, the effect of the software investment is smaller than the effect of research and development personnel expenditure. This result shows that the presence of R&D personnel is more important than the software investment for software intensive manufacturing firms in Turkey. |
| Keywords: | Intangible assets, Software investment, Efficiency, Software intensive firms, Stochastic frontier analysis, Production. |
| JEL: | L21 L22 L23 L25 |
| Date: | 2015–08 |
| URL: | http://d.repec.org/n?u=RePEc:koc:wpaper:1511&r=all |
| By: | Siwage Dharma Negara (The Indonesian Institute of Sciences (LIPI), The Institute of Southeast Asian Studies (ISEAS)) |
| Abstract: | Endogenous growth theory postulates that innovation is one of the key drivers of technological progress and productivity growth of a country. Technological improvements stemming from firms’ innovative activities can contribute to a country’s overall productivity and export competitiveness. For innovation to flourish, it necessitates an environment that is conducive to firms conducting risky innovative activities. Studies show that public policies, including labour market policies, can influence the operating conditions and institutional structures of firms to foster innovation that leads to productivity gains. However, the literature indicates that there is mixed empirical evidence on the impact of labour market policies on firms’ incentives to innovate. This paper argues that more flexible labour market policies that do not constrain workers’ adjustments and mobility will have positive associations with a country’s technological innovation competitiveness. In addition, innovation competitiveness affects a country’s productivity and trade competitiveness. Using a balanced panel of OECD and non-OECD countries, this study offers simple empirical models to measure the relationship between labour market policies and innovation capacity; and between innovation capacity and trade competitiveness. The main findings show that countries with more flexible labour market policies have higher levels of innovation competitiveness. In addition, the paper finds evidence of a positive correlation between innovation competitiveness and trade competitiveness. |
| Keywords: | Labour market policies, innovation, trade, competitiveness, labour market flexibility |
| JEL: | F16 J08 J38 J63 O31 O38 |
| Date: | 2015–07 |
| URL: | http://d.repec.org/n?u=RePEc:era:wpaper:dp-2015-48&r=all |
| By: | Amel Attour (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - CNRS - UNS - Université Nice Sophia Antipolis); Maelle Della-Peruta (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - CNRS - UNS - Université Nice Sophia Antipolis) |
| Abstract: | The main objective is to identify which knowledge flows are key elements for designing an inter-organisational technological platform. It mobilizes two theories: the literature of platform strategies and the architectural innovation theory. In the literature, the technological platform is already existing, is the property of only one firm and it is the starting point for an inter-organisational innovation process because it is enhanced and enriched by niche players. This paper considers the case of a digital business ecosystem where the technological platform doesn't already exist and it is co-designed. We study the design process of an inter-organisational technological platform and, more specifically, its emergence, its development, and its potential evolution. The issue is to know how and under which conditions and with what objective an emerging technological platform is fundamental to the analysis of the emergence of the business ecosystem and the strategic positioning of each member. |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-01062004&r=all |
| By: | Juan Vera (RENAULT); Camila Freitas Salgueiredo (CGS - Centre de Gestion Scientifique - MINES ParisTech - École nationale supérieure des mines de Paris, ISIR - Institut des Systèmes Intelligents et de Robotique - UPMC - Université Pierre et Marie Curie - Paris 6 - CNRS); Sophie Hooge (CGS - Centre de Gestion Scientifique - MINES ParisTech - École nationale supérieure des mines de Paris); Milena Klasing Chen (CGS - Centre de Gestion Scientifique - MINES ParisTech - École nationale supérieure des mines de Paris) |
| Abstract: | Radical innovation is becoming essential to insure firms stay competitive. Nevertheless, R&D departments struggle to achieve systematic innovation processes. The management of an innovation field requires adapted tools to the diversity, broadness and flexibility of the generation of innovative ideas. To face this challenge, we propose the use of a set of visual tools. These allow the abstraction of three fundamental innovation field dimensions: 1) the nonlinearity of the ideation process; 2) the degree of maturity of a technology and 3) the stakeholder diversity of an ecosystem. We propose an Innovation Map, a synthetic tool grouping several visual representations that allow describing these three dimensions of an innovation field. Having all aspects simultaneously described by a tool is enriching since it makes it possible for the visual representations to complement each other. This managerial tool was applied inside Renault, in the automobile sector, for the mapping of the electric vehicle charging, a strategic field in electric mobility. We tested the tool with several internal R&D stakeholders of the innovation field having different profiles and responsibilities. They perceived the Innovation Map as a useful tool to point out and share various strategic aspects of an innovation field, as well as establishing potential partnerships. This collaborative research is a first step towards the establishment of a visual language framework that managers can apply to communicate, organize and understand an innovation field. |
| Date: | 2015–04–30 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-01154158&r=all |
| By: | Tomasz Brodzicki (University of Gdansk, Faculty of Economics; Institute for Development); Tomasz Jurkiewicz (University of Gdańsk, Faculty of Management, Department of Statistics); Stanislaw Uminski (Institute for Development; Faculty of Economics, University of Gdansk); Krystyna Gawlikowska-Hueckel (Institute for Development; Faculty of Economics, University of Gdansk) |
| Abstract: | Evidence from recent empirical micro-level surveys such as Bernard & Jensen (1995, 2001), Clerides et al. (1998) or Eaton et al. (2004) indicates large firm heterogeneity. Following a seminal contribution by Melitz (2003) theoretical models started to include firm heterogeneity by incorporating the actual distribution of productivity between firms. The models prove that only very productive firms are able to enter and remain on more demanding foreign markets. Export status is linked to productivity advantage. Apart from several studies the literature on the role of firm heterogeneity in Poland's trade is in its infancy. The goal of this article is to present the initial results of a large survey of Polish exporting and non-exporting firms aimed at filling this important gap. The survey included numerous questions in the area of firm competitiveness, innovation potential, export performance and strategies as well as barriers to exporting and policy expectations. The results of the survey have been supplemented with analysis of detailed financial data provided by InfoCredit allowing us to estimate numerous indices linked to economic and financial performance of enterprises including: capital and labour productivity, overall productivity measured by TFP and profitability. |
| Keywords: | exporters, non-exporters, Poland's trade, firms' survey |
| JEL: | F12 F14 C83 |
| Date: | 2015–08 |
| URL: | http://d.repec.org/n?u=RePEc:iro:wpaper:1505&r=all |
| By: | Thomas Grebel (Economics department - Massachussetts Institute of Technology); Lionel Nesta (OFCE - OFCE - Sciences Po) |
| Abstract: | We investigate the conditions under which R&D investment by rival firms may be negatively or positively correlated. Using a two-stage game the influence of spillovers and product substitution is investigated. It is shown that under Cournot competition, the sign of the R&D reaction function depends on four types of environments in terms of the level of product substitution and of spillovers. We then test the prediction of the model on the world's largest manufacturing corporations. We assume that firms make oblivious R&D investments based on the R&D decision of the average rival company. We then develop a dynamic panel data model that accounts for the endogeneity of the decision of the mean rival firms. Results corroborate the validity of the theoretical model. |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-00973072&r=all |
| By: | Laura Abramovsky (Institute for Fiscal Studies and Institute for Fiscal Studies) |
| Abstract: | This paper provides a novel portrait of firms engaging in the international use of inventors. I focus on drug discovery activity of pharmaceutical and biotechnological firms head-quartered in Europe, over the period 1996-2005. An important part of the most high-valued added R&D activities are conducted by inventors, who are engaged in the creation of new technologies. I use a novel and particularly rich dataset that provides a comparable picture across host locations and over time of research activity of EU firms. The main results are that firm-level heterogeneity is a key feature in the internationalisation of inventors and this is similar to patterns from data analysing good and service traders and MNEs. Furthermore, host country distance characteristics are associated with the number of inventors in a similar fashion to patterns found in gravity models explaining good and service trade. |
| Keywords: | International trade; multinational firms; inventors; R&D |
| JEL: | F14 F19 F23 O31 |
| Date: | 2015–07 |
| URL: | http://d.repec.org/n?u=RePEc:ifs:ifsewp:15/18&r=all |
| By: | Naciba Haned (ESDES - École de management de Lyon - Université Catholique de Lyon); Caroline Mothe (IREGE - Institut de Recherche en Gestion et en Economie - Université de Savoie); Nguyen-Thi Thuc Uyen (CEPS/INSTEAD - Centre d'Etudes de Populations, de Pauvreté et de Politiques Socio-Economiques / International Networks for Studies in Technology, Environment, Alternatives, Development - Centre d'Etudes de Populations, de Pauvreté et de Politiques Socio-Economiques / International Networks for Studies in Technology, Environment, Alternatives, Development) |
| Abstract: | Organizational innovation favors technological innovation, but does it also influence persistence in technological innovation? This article empirically investigates the pattern of technological innovation persistence and tests the potential impact of organizational innovation using firm-level data from three waves of French Community Innovation Surveys. The evidence indicates a positive effect of organizational innovation on persistence in technological innovation, according to various measures of organizational innovation. Moreover, this impact is more significant for complex innovators, i.e. those who innovate in both products and processes. The results highlight the complexity of managing organizational practices with regard to the technological innovation of firms. They also add to understanding of the drivers of innovation persistence through the focus on an often-forgotten dimension of innovation in a broader sense. |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01133555&r=all |
| By: | Rekers , Josephine V. (Department of Human Geography & CIRCLE, Lund University); Grillitsch, Markus (CIRCLE, Lund University) |
| Abstract: | Co-location alone is not sufficient to ensure efficient and effective interaction between economic agents. Also, institutions at multiple scales shape the behaviour of organizations and provide incentives for interaction. However, institutions as well as the impact of institutions on economic agents are not static, but rather change over time. In this paper we investigate this dynamic process: How does institutional change at different geographical scales affect localized learning processes? Using an intensive case study of the medical technology sector in Southern Sweden, we trace in detail how institutions at the supra-national, national and regional scale have changed over the past 15 years and how these have affected the opportunities for localized learning between firms and hospitals. Our case makes three contributions. First, it provides a detailed empirical example of the interdependencies between institutions at the supra-national, national and regional scales. Second, as institutions shape the behaviour of organizations, we demonstrate that institutional change introduced at the extra-regional scale can have profound consequences for the establishment of local innovation linkages – and thereby for the opportunities for localized learning. Third, this leads us to reconsider the ambitions of regional policies that aim to enhance localized learning. |
| Keywords: | Institutions; institutional change; multi-scalar interdependencies; social capital; knowledge networks; innovation; regional development |
| JEL: | B52 D83 I18 L50 O30 O31 O33 O38 |
| Date: | 2015–08–10 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:lucirc:2015_026&r=all |
| By: | Aoife Brophy Haney |
| Abstract: | Firms have developed climate change strategies over the last decade in response to rising regulatory, social and competitive pressures. Increasingly, these strategies include the development of new products and services (P&S) to reducing the environmental impact of the firm and its customers. In this paper, I explore how managerial interpretation of climate change has evolved over time and how these changes in interpretation are associated with innovation outcomes. The existing literature suggests that interpreting environmental challenges as opportunities is more likely to lead to open and innovative strategies. Using qualitative survey data on 99 Global 500 firms over the period 2003 to 2009, I find that threat-based interpretation can in fact lead to positive innovation outcomes at early stages of new P&S development. I identify three main mechanisms through which the detailed identification of threats encourages innovation in response to climate change. Furthermore, I develop a temporal dimension to the relationship between interpretation and stages of P&S development. I find that at advanced stages of P&S development, a balanced and opportunity-focused interpretation becomes more important. The results imply that managerial interpretation can provide firms with added flexibility to provide innovative responses to social and environmental challenges. But the relationship between interpretation and innovation is not static, nor is it a question of threat or opportunity interpretation but a combination of the two at different times that provides flexibility. |
| Keywords: | climate change, dynamic managerial capability, innovation, interpretation, environmental strategy |
| JEL: | M10 M14 L80 |
| Date: | 2015–08–13 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:1524&r=all |
| By: | Chen, Ping-ho; Chu, Hsun; Lai, Ching-Chong |
| Abstract: | This paper analyzes the growth effect of subsidy policies in a modified R&D-based growth model of Romer (1990), in which both innovation and capital accumulation are engines of long-run economic growth. We show that, under certain conditions, subsidizing the R&D sector may be growth-impeding. |
| Keywords: | R&D; subsidy policy; endogenous growth; |
| JEL: | H2 O3 |
| Date: | 2015–08 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:66061&r=all |
| By: | Benjamin Zimmer (Computer Science Department - Linnaeus University); Julie Stal-Le Cardinal (LGI - Laboratoire Génie Industriel - EA 2606 - Ecole Centrale Paris, Ecole Centrale Paris - Ecole Centrale Paris); Bernard Yannou (LGI - Laboratoire Génie Industriel - EA 2606 - Ecole Centrale Paris); Gilles Le Cardinal (UTC - Université de Technologie de Compiègne [Compiègne]); François Piette (Faculté de Médecine - Université Pierre et Marie Curie); Vincent Boly (ERPI - Equipe de Recherche sur les Processus Innovatifs - Institut National Polytechnique de Lorraine (INPL) - Ecole Nationale Supérieure en Génie des Systèmes Industriels) |
| Abstract: | For more than 10 years, the French State and administrative regions have pursued economic development policies that stimulate all forms of innovation and encourage strategic market alliances of the economic stakeholders of a region. These “cluster” policies aim to create ecosystems that are conducive to innovation and promote the emergence of collaborative organizations. Among these innovation clusters, we are concerned with those in the health care field pertaining to aging and autonomy. Business models and action plans for these collaborative organizations are neither easy to define nor easy to stabilize and reinforce, because of the diversity of stakeholders with multiple expectations involved. This paper presents an application of the FAcT-Mirror method in the Sol’iage innovation cluster during its development stage. We demonstrate that the FAcT-Mirror method is particularly efficient and effective during the process of transformation from the emerging stage (stage of intention) to the development stage (stage of action) for a health care cluster to collectively produce common tools (definitions, strategy, working groups, and action plans). |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01152287&r=all |
| By: | Karine Picot-Coupey (CREM - Centre de Recherche en Economie et Management - CNRS - Université de Caen Basse-Normandie - UR1 - Université de Rennes 1); Steve Burt (Division of Economics - University of Stirling - University of Stirling); Gérard Cliquet (CREM - Centre de Recherche en Economie et Management - CNRS - Université de Caen Basse-Normandie - UR1 - Université de Rennes 1) |
| Abstract: | Whenever a retail company expands its store network in a foreign market, decisions have to be made about how this can be achieved. Existing studies of retail internationalization have usually analyzed the "entry mode" choice as an end in itself, and not as the start of a firm's international development. In addition, there is much debate in the academic literature about the antecedents for retail foreign operation mode choice and the relevance of generic internationalization theories to international retailing. Therefore, the objectives of this research are (1) to investigate the paths of entry and subsequent expansion modes pursued by retailers in international markets and (2) to develop and test a model of expansion mode antecedents in the light of generic business internationalization theories. This is achieved on the basis of data collected from 43 French fashion retailers and a PLS-SEM approach. Results show that (1) retailers clearly differentiate between entry and expansion modes; (2) the international marketing plan, the perceived attractiveness of the foreign market, and strategic and ownership conditions are the key antecedents for the choice of an expansion mode. After comparing the results with the explanations proposed by the generic internationalization theories, a multi-theoretical framework is proposed which draws from the Uppsala internationalization process model, network theory and the born-global theory. The findings provide a wealth of information for retailers' use in choosing appropriate foreign operation modes. |
| Date: | 2014–11 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-01075645&r=all |
| By: | Mélodie Cartel (CGS - Centre de Gestion Scientifique - MINES ParisTech - École nationale supérieure des mines de Paris); Eva Boxenbaum (CGS - Centre de Gestion Scientifique - MINES ParisTech - École nationale supérieure des mines de Paris); Franck Aggeri (CGS - Centre de Gestion Scientifique - MINES ParisTech - École nationale supérieure des mines de Paris) |
| Abstract: | The making of environmental policies is a multi-stakeholders process where actors often hold antagonistic interests. The paper explores how institutional compromises are reached by the mechanism of collective bricolage. Recent studies are developing a view on institutional innovation as bricolage, but the conditions under which bricolage occurs and succeeds in relation to institutional innovation are still unknown. Drawing on the notion of platform developed in the context of economics performativity, we study their role in bricolage mechanisms. We hold an empirical case study of the GETS platform that was instrumental in developing the European carbon market as a corner-stone of European climate policy. Based on the GETS case study, we find three modalities in which platforms stimulate institutional bricolage: catalyzing combinations, managing learning, fostering compromise. These findings draw on, and extend, the notion of platforms developed in the context of economics performativity, contributing to a better understanding of processes of bricolage and, more widely, of institutional innovation. The managerial implication of this study is to identify the conditions under which compromises become manageable in processes of policy making. 2 |
| Date: | 2014–07–03 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01089462&r=all |
| By: | Francesco Quatraro (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - CNRS - UNS - Université Nice Sophia Antipolis); Marco Vivarelli (Università Cattolica del Sacro Cuore - Facoltà di Scienze bancarie, finanziarie e assicurative - Università Cattolica del Sacro Cuore di Milano) |
| Abstract: | The aim of this paper is to provide an updated survey of the "state of the art" in entrepreneurial studies, with a particular focus on developing countries (DCs). In particular, the same concept of "entrepreneurship" will be critically discussed, then moving to the institutional, macroeconomic and microeconomic conditions affecting the entry of new firms and the post-entry performance of newborn firms. |
| Date: | 2014–11–04 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01071511&r=all |
| By: | Kirsi Hyytinen (VTT Information technology - Technical Research Centre of Finland); FaÏz Gallouj (Clersé - CLERSE - Centre lillois d'études et de recherches sociologiques et économiques - CNRS - Université Lille 1 - Sciences et technologies); Marja Toivonen (VTT Information technology - Technical Research Centre of Finland) |
| Abstract: | The purpose of this paper is to study the challenge of the evaluation in the context of the services. Because of their specific nature the traditional evaluation methods and measures are not able to capture neither the diversity of the innovations nor the multifaceted dimensions of performance. This paper aims to contribute to the need for a more diverse evaluation approach. We focus on the context of service innovation in the environmental sector, in which we develop further multi-criteria and multi-actor perspectives. The multi-criteria framework describes the impacts of sustainability services and the multi-actor framework aims at analyzing the impacts from the perspective of various actors involved. Thus, our study provides a two dimensional approach to assess the impacts of services. The focus is on understanding the dynamics of service creation in the environmental sector, and on using new evaluation methods and indicators in that sector. |
| Date: | 2014–07–19 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-01133963&r=all |
| By: | Kirsi Hyytinen (VTT Information technology - Technical Research Centre of Finland); Sampsa Ruutur (VTT Information technology - Technical Research Centre of Finland); Mika Nieminen (VTT Information technology - Technical Research Centre of Finland); Faïz Gallouj (CLERSE - UMR 8019 - CLERSE - Centre lillois d'études et de recherches sociologiques et économiques - CNRS - Université Lille 1 - Sciences et technologies); Marja Toivonen (VTT Information technology - Technical Research Centre of Finland) |
| Abstract: | The purpose of this paper is to study the challenge of the evaluation in the context of the services in the sector of environment and energy. Because of the specific nature of service innovation the traditional evaluation meth-ods and measures are not able to capture neither the diversity of the inno-vations nor the multifaceted dimensions of performance. This paper aims to contribute to the need for a more diverse evaluation approach. We study the use of multi-criteria and system dynamic perspectives in the evaluation of services, and we develop a new type of methodology to evaluate their dynamics and multifaceted performance. |
| Date: | 2014–09–11 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01111817&r=all |
| By: | Fabienne Bornard (INSEEC, CRE-EM Lyon - CRE EM Lyon); Caroline Verzat (Novancia - Novancia); Chrystelle Gaujard (école HEI Lille) |
| Abstract: | Our contribution tries to analyze a course framework for future entrepreneurs. Transmissive pedagogies don’t work at all for developing an entrepreneurial mindset (Honig, 2004, Neck & Greeene, 2011, Sarasvathy & Venkataraman, 2010). We decided to use scenario building traditionally used for strategy (Boaventura & Fishman, 2008) on the one hand for co-elaborating new strategies for entrepreneurship education and on the other hand for the development of creative imagination (Csikszentmihalyi, 1996, Nyström, 1993, Fillis & Rentschler, 2005) of all stakeholders: students, teachers and entrepreneurs. We trace a path from critical reflective analysis (Mezirow, 1991) of existing higher education institutions and their educational practices to pedagogical refoundation (Fayolle, 2013). Our contribution addresses 4 subjects : strategy, process, learning outcomes and stands of all stakeholders. |
| Date: | 2014–10–23 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-01089398&r=all |
| By: | Ariane Berthoin Antal (Audencia Recherche - Audencia); André Sobczak (Audencia Recherche - Audencia) |
| Abstract: | This article proposes a multilevel model of Global Responsibility as a culturally embedded organizational learning process. The model enables an analysis of the way culture influences how responsibilities are defined and distributed in a culture at a given point in time, and how organizations learn to address new responsibilities in new ways when the context changes. The model starts at the organizational level and zooms in on the individual level as well as outward to the local, national, and international levels. The case of a French multinational company subsidiary in Brazil illustrates how the model can be used to show the relative relevance of the different sources of cultural influences on key stages in organizational learning processes. The authors include the arts as an inherent dimension of culture that tends to be overlooked in the management literature, and the case illustrates how the arts can play a role in organizational learning for Global Responsibility. |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01074565&r=all |
| By: | Magdolna Sass; Oliver Kovacs; Lidis Garbovan; Renata Anna Jaksa |
| Abstract: | The report focuses on the potential of the development of small and mid-size businesses in Moldova. It provides an economic overview of the country, and then analyzes various best practices and lessons learned from the development of SMEs in the Visegrad countries, especially Hungary. The report provides a description of economic developments, main trade figures, relevant labor developments, migration and the role of remittances and defines the bottlenecks for SME development in the country. The authors built their analysis on available literature and statistics as well as their own survey and interview series. The study highlights six case studies relevant for SME development selected for deeper investigation such as simplified tax schemes, online tax reporting, entrepreneurship education, agriculture and producers’ organizations, the wine industry and issues of measurement of the SME sector. Finally the report draws up potential intervention schemes for Moldovan stakeholders and provides further recommendations for longer term initiatives and actions taken for the support of economic and SME development. |
| Keywords: | SME development, economic development, Moldova, Visegrad countries |
| JEL: | L25 H2 J6 O2 Q1 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:sec:cnrepo:0122&r=all |
| By: | Holanda Oliveira, Lucio Hellery; Carrasco Gutierrez, Carlos Enrique |
| Abstract: | The traditional current account intertemporal model assumes that all individuals follow the permanent income theory. The innovation proposed in this work is to incorporate the idea that some consumers have rule of thumb behavior with the classic current account dynamics model and also to include habit formation in the utility function. Two stage least squares and generalized method of moments econometric techniques are applied to estimate the parameters: the share of aggregate income that follows the rule of thumb behavior and the habit formation coefficient. Based on the current account data on the Brazilian economy, the results confirm some stylized facts presented in the literature as well as some testable basic propositions of the intertemporal current account model. The rule of thumb behavior is significant and ranges from 0.48 to 0.54, indicating that the rule of thumb hypothesis is important in the model. Moreover, the habit formation coefficient also has some significance in the estimated model. |
| Keywords: | Rule of Thumb; Consumption; Current Account; Intertemporal Model; Habit Formation. |
| JEL: | C22 E21 F32 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:66079&r=all |
| By: | Jean-Pascal Gond (City University London - City University London); Eva Boxenbaum (CGS - Centre de Gestion Scientifique - MINES ParisTech - École nationale supérieure des mines de Paris) |
| Abstract: | This study investigates the institutional work that underlies the diffusion of responsible investment (RI) and enhances its adaptation to local settings. Building on institutional theory and actor-network theory, we advance the concept of contextualization work to describe the institutional work that sustains RI glocalization. Empirical data from two case studies highlight how entrepreneurial actors imported the notion of RI from the US to France and Quebec. Our findings uncover three types of contextualization work--filtering, repurposing, and coupling--that sustain RI glocalization, and show how actors employed them in both settings to overcome the lack of technical, cultural, or political fit between the imported practice and their local context. Our results explain how divergent glocalized versions of RI are developed and adapted through contextualization work. Last, we discuss how our repertoire of contextualization work can account for local forms of a global concept and the uneven pattern of its diffusion. |
| Date: | 2013–11–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-00870436&r=all |
| By: | Marie-Laure Cabon-Dhersin (CREAM - CREAM - Centre de Recherche en Economie Appliquée à la Mondialisation - Université de Rouen); Jonas Didisse (CREAM - CREAM - Centre de Recherche en Economie Appliquée à la Mondialisation - Université de Rouen) |
| Abstract: | This paper analyzes the impact of two competing strategies (Cournot vs Bertrand competition) in a context where universities compete for students and can enroll beyond capacity at strictly convex costs. Universities interact in a two-stage game to decide on capacity and tuition fees/number of students enrolled. In Bertrand competition, when costs are sufficiently convex, universities adopt low capacities in the first stage in order to sustain high fees in the second stage. Conversely, Cournot competition leads to a higher capacity for each university and to a larger number of students enrolled. Under certain conditions, the equilibrium adopted in Bertrand competition may be more efficient in terms of cost minimization but it leads to a lower social welfare level. |
| Date: | 2015–07–07 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-01174291&r=all |