|
on Economics of Strategic Management |
|
Issue of 2016‒06‒18
thirty-two papers chosen by João José de Matos Ferreira Universidade da Beira Interior |
| By: | Pilar Bernal (University of Zaragoza); Juan P. Maicas (University of Zaragoza); Pilar Vargas (University of La Rioja) |
| Abstract: | Environmental dynamism has recently attracted the attention of scholars studying the relationships between exploration and exploitation strategies and innovation performance. Surprisingly, although extant research has already acknowledged its multidimensional character, it has only been analyzed in an aggregate fashion. In this paper, we distinguish two components of environmental dynamism, the pace of market evolution and the pace of technology evolution, and we elaborate on their different impacts in the context of exploration and exploitation strategies. More precisely, we argue that while a rapid pace of technology evolution has opposite impacts on the relationships between exploration (positive), exploitation (negative) and innovation performance, a rapid pace of market evolution positively affects both exploration and exploitation. Our findings provide substantial support for our prediction using a large panel of Spanish innovating firms for the period 2008-2012. |
| Keywords: | Exploration; Exploitation; Environment; Technology, Market |
| JEL: | O31 O32 O33 |
| Date: | 2016–03 |
| URL: | http://d.repec.org/n?u=RePEc:zar:wpaper:dt2016-03&r=cse |
| By: | Maryia Akulava |
| Abstract: | Little knowledge exists on difference in innovation behavior of men and women leading the SMEs in transition countries. This paper estimates whether there is a gender gap in SMEs innovation actions. Results show that propensity to innovate is higher among female owners and this finding preserves for 5 measures of innovativeness. Thus, female involvement in business might be beneficial for the innovative sustainable development of economy. Estimation of the gap in performance of implemented innovations did not reveal any strong prevailing gender in terms of efficiency. |
| Keywords: | Small and medium enterprises, innovation activities, gender differences |
| JEL: | O31 O32 J16 L25 |
| Date: | 2015–10 |
| URL: | http://d.repec.org/n?u=RePEc:bel:wpaper:31&r=cse |
| By: | Dirk Czarnitzki; Thorsten Doherr; Katrin Hussinger; Paula Schliessler; Andrew A. Toole |
| Abstract: | We use an exogenous change in German Federal law to examine how entrepreneurial support and the ownership of patent rights influence academic entrepreneurship. In 2002, the German Federal Government enacted a major reform called Knowledge Creates Markets that set up new infrastructure to facilitate university-industry technology transfer and shifted the ownership of patent rights from university researchers to their universities. Based on a novel researcher-level panel database that includes a control group not affected by the policy change, we find no evidence that the new infrastructure resulted in an increase in start-up companies by university researchers. The shift in patent rights may have strengthened the relationship between patents on university-discovered inventions and university start-ups; however, it substantially decreased the volume of patents with the largest decrease taking place in faculty-firm patenting relationships. |
| Keywords: | Intellectual property, patents, technology transfer, policy evaluation |
| Date: | 2016–05 |
| URL: | http://d.repec.org/n?u=RePEc:ete:msiper:540553&r=cse |
| By: | Pietro Moncada-Paternò-Castello (European Commission – JRC - IPTS) |
| Abstract: | Research and development (R&D) indicators are increasingly used not only to facilitate international comparisons, but also as targets for policies stimulating research. An example of such an indicator is R&D intensity. The decomposition method of R&D intensity was conceived with the aim of evaluating aggregate R&D intensity and explaining the differences in R&D intensity between countries. For policy purposes, it is particularly important to determine whether the differences are intrinsic (e.g. due to firms’ underinvestment in R&D) or structural (e.g. due to differences in the sectors that make up an economy). Despite its importance for analytical purposes, the theoretical and methodological framework enabling decomposition of corporate R&D intensity has been elaborated only recently, and it is still not commonly used in the literature. Moreover, examination of the R&D intensity of firms in different industries and at different layers of aggregation leads to mixed results, the reasons for which are not fully understood. This paper aims to review the theoretical and methodological frameworks of corporate R&D intensity decomposition and how it is applied in the literature in order to determine the policy implications of empirical results that at first sight may seem to be contradictory. More specifically, this paper surveys the literature to determine (i) the theoretical framework of determinants of corporate R&D intensity, (ii) the methodologies that have been put in place to decompose corporate R&D intensity and the empirical results reached and (iii) the likely reasons for the contrasting results. Finally, the paper points out the possible policy implications and suggests some potential avenues for future research in this area. |
| Keywords: | corporate R&D intensity gap; decomposition; literature survey; R&D policy. |
| JEL: | O30 O32 O38 O57 F23 R39 |
| Date: | 2016–04 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:wpaper:201602&r=cse |
| By: | Potts, Jason |
| Abstract: | Agriculture is often represented as a case study in perfect competition, with a large number of small price-taking producers choosing an optimal input mix from a simple production function to maximize profits. Entrepreneurship and innovation do not seem to enter into this story, and nor do institutions. But this characterization misrepresents the complexity and niche competition in agricultural markets and the opportunities for cooperation. Old models of innovation policy emphasized market failure and recommended more or less direct government support to fund R&D investment. Examples were public funding of agricultural science. But new approaches to economics of innovation emphasise the role of entrepreneurial or market (rather than technical) discovery, and the increasing use of private institutions to solve the innovation problem through pooling innovation resources in the ‘commons’. This shift from market failure to collective action models of the innovation problem, and from government solutions to governance solutions, represents a fundamental shift in modern economic thinking about how industries grow through entrepreneurship and innovation, and the role of government in this process. |
| Keywords: | Agricultural and Food Policy, |
| Date: | 2016–02 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aare16:235504&r=cse |
| By: | Ferrett, Ben; Hoefele, Andreas; Wooton, Ian |
| Abstract: | Existing analyses of fiscal competition for foreign direct investment (FDI) often assume a one-shot interaction between governments and the firm within a static environment where the firm makes a permanent location choice. We examine a two-period regional model where economic geography evolves, giving the firm an incentive to relocate between periods. Government competition for FDI leads the firm to make efficient location choices, with relocation "more likely" in the presence of international tax competition, because the winning country's bid absorbs some of the firm's relocation costs. With more time periods, tax competition induces firm relocation sooner than in its absence. |
| Keywords: | dynamic fiscal competition; efficiency; FDI; geographical change |
| JEL: | F23 H25 R38 |
| Date: | 2016–06 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:11325&r=cse |
| By: | James J. Heckman; Chase O. Corbin |
| Abstract: | This paper discusses the relevance of recent research on the economics of human development to the work of the Human Development and Capability Association. The recent economics of human development brings insights about the dynamics of skill accumulation to an otherwise static literature on capabilities. Skills embodied in agents empower people. Enhanced skills enhance opportunities and hence promote capabilities. We address measurement problems common to both the economics of human development and the capability approach. The economics of human development analyzes the dynamics of preference formation, but is silent about which preferences should be used to evaluate alternative policies. This is both a strength and a limitation of the approach. |
| JEL: | D04 D31 D63 I31 |
| Date: | 2016–06 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:22339&r=cse |
| By: | Peters, Bettina (Centre for European Economic Research (ZEW)); Roberts, Mark J. (Pennsylvania State University and NBER); Vuong, Van Anh (University of Cologne and Institute of Energy Economics) |
| Abstract: | This article investigates how a firm's financial strength affects its dynamic decision to invest in R&D. We estimate a dynamic model of R&D choice using data for German firms in high-tech manufacturing industries. The model incorporates a measure of the firm's financial strength, derived from its credit rating, which is shown to lead to substantial differences in estimates of the costs and expected long-run benefits from R&D investment. Financially strong firms have a higher probability of generating innovations from their R&D investment, and the innovations have a larger impact on productivity and profits. Averaging across all firms, the long run benefit of investing in R&D equals 6.6 percent of firm value. It ranges from 11.6 percent for firms in a strong financial position to 2.3 percent for firms in a weaker financial position. |
| Keywords: | R&D choice; financial strength; innovation; productivity; dynamic structural model |
| JEL: | G30 O31 O32 |
| Date: | 2016–06–02 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:cesisp:0440&r=cse |
| By: | Gemma Abió (AQR Research Group-IREA. University of Barcelona); Manuela Alcáñiz (AQR Research Group-IREA. University of Barcelona); Marta Gómez-Puig (AQR Research Group-IREA. University of Barcelona); Gloria Rubert (AQR Research Group-IREA. University of Barcelona); Mónica Serrano (AQR Research Group-IREA. University of Barcelona); Alexandrina Stoyanova (AQR Research Group-IREA. University of Barcelona); Montserrat Vilalta-Bufí (AQR Research Group-IREA. University of Barcelona) |
| Abstract: | Students who have to retake courses at university are often not only low-achieving, but also unmotivated and lacking self-confidence. These problems may be accentuated in large groups of repeater students. In this context, the implementation of new teaching approaches to cater for their needs is a priority. This paper reports the experience of a teaching strategy based on the implementation of flipped classroom, team-based learning, and frequent testing methodologies in large groups of students retaking a subject. The study was carried out during the academic years 2013/14 and 2014/15 at the Faculty of Economy and Business, University of Barcelona (Spain). The results reflect a significant increase in the motivation and academic performance of these students, and validate the application of this strategy in large groups. |
| Keywords: | Teaching innovation; flipped classroom;team based learning; frequent testing; large groups; retake subjects; economics. JEL classification: A20; A22 |
| Date: | 2016–04 |
| URL: | http://d.repec.org/n?u=RePEc:ira:wpaper:201609&r=cse |
| By: | Benjamin Faber; Cecile Gaubert |
| Abstract: | Tourism is one of the most visible and fastest growing facets of globalization in developing countries. This paper combines a rich collection of Mexican microdata with a quantitative spatial equilibrium model and a new empirical strategy to learn about the long-run economic consequences of tourism. We begin by estimating a number of reduced-form effects on local economic outcomes in today's cross-section of Mexican municipalities. To base these estimates on plausibly exogenous variation in long-term tourism exposure, we exploit geological and oceanographic variation in beach quality along the Mexican coastline to construct instrumental variables. To guide the estimation of the aggregate implications of tourism, we then write down a spatial equilibrium model of trade in goods and tourism services, and use the reduced-form moments to inform its calibration for counterfactual analysis. We find that tourism causes large and significant local economic gains relative to less touristic regions, and that these gains are in part driven by significant positive spillovers on manufacturing production. In the aggregate, however, we find that these local spillovers are largely offset by reductions in agglomeration economies among less touristic regions, so that the national gains from tourism are mainly driven by a classical market integration effect. |
| JEL: | F15 F63 O24 |
| Date: | 2016–06 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:22300&r=cse |
| By: | Tuhkuri, Joonas |
| Abstract: | This paper examines the relationship between globalization and innovation. To do so, it draws from data that match the full population of workers and private-sector firms in Finland tracking them from 1995 to 2009. To correct for endogeneity the paper considers variation in trade exposure from China during its entry to the world market using a fixed effects model. While the literature on trade and innovation has emphasized the role of firms in driving onshore innovation, the main conclusion of this research is that globalization increases the share of innovators within firms. |
| Keywords: | Trade, Innovation, China, Employment |
| JEL: | F14 F16 J24 L60 L24 |
| Date: | 2016–06–03 |
| URL: | http://d.repec.org/n?u=RePEc:rif:wpaper:39&r=cse |
| By: | Abroskin A.S. (Russian Presidential Academy of National Economy and Public Administration (RANEPA), Gaidar Institute for Economic Policy); Abroskina N.A. (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | Subject areas of the research are the issues of illicit cross-border capital flows accounting and measurement methodology. In the research are studied the modern concepts of cross-border capital turnover, accounting and measurement of its illicit components principles, are analyzed the main information sources using in international statistics in the estimates of cross-border capital flows in global economy. |
| Keywords: | cross-border capital flows, measurement methodology |
| Date: | 2016–03–21 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:2135&r=cse |
| By: | Ewa Lechman (Gdansk University of Technology, Gdansk, Poland); Harleen Kaur (Faculty of Management and Information Technology, Hamdard University, Hamdard, India) |
| Abstract: | The process of technology diffusion is complex, and one should bear in mind that multiple elements may be claimed as its essential determinants. Insofar, voluminous theoretical and empirical literature has been issued where attempts of identification of the latter has been made. However, we still lack adequate explanations for cross-country differences in new technology adoption; while demonstrated evidence is scattered and to a great extend it lacks robustness. This paper is designed to provide empirical evidence on the relationship between the process of ICT diffusion and social development across selected low-income and lower-middle-income countries during the period of 2000 and 2014. Its main target is to identify whether in low-income and lower-middle-income economies, ICT development and social development are correlated. It combines five logically structured sections. Section 1 is the introduction; Section 2 discusses literature review regarding ICT diffusion determinants. Next, Section 3 briefly presents data used in the research and explains methodological framework.Section 4 demonstrates results of empirical analysis, and Section 5 concludes. |
| Keywords: | social development, empowerment, new technologies, ICT, developing countries |
| JEL: | O3 O50 |
| Date: | 2016–06 |
| URL: | http://d.repec.org/n?u=RePEc:gdk:wpaper:33&r=cse |
| By: | Löchel, Horst; Packham, Natalie; Hölzl, Eugen |
| Abstract: | This paper looks at the current shadow-banking practices of Chinese SME's and the question if these practices have a positive impact on the development of those SME's. For this pur-pose, new primary data is examined: Four case studies and two supplementary sets of data. Although the data volume imposes limitations on the results, the two main findings are: First, shadow-banking does have such a positive effect. Second, interpersonal lending is by far the most important financing channel for this effect among all the shadow-banking types ob-served. |
| Keywords: | Shadow-banking,SME-funding,China's financial system |
| JEL: | D82 K42 O17 |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:fsfmwp:220&r=cse |
| By: | Faltsman V.K. (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Davydova L.A. (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | This work present an analysis of the the socio-economic opportunities, advantages and disadvantages of different ways of innovative development of car industry, shipbuilding industry, aviation industry, defense industry, nuclear power and oil industry, based on the statistical analysis of the competitiveness of different types of Russian products on the domestic and international markets, including the markets of the CIS and EurAsEC. As a possible complementary factor for future economic growth is considered the development of the agricultural sector. |
| Keywords: | industrial development, competitiveness, growth, agriculture |
| Date: | 2015–04–07 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:2305&r=cse |
| By: | López, Ángel Luis; Vives, Xavier |
| Abstract: | This paper considers cost-reducing R&D investment with spillovers in a Cournot oligopoly with minority shareholdings. We find that, with high market concentration and sufficiently convex demand, there is no scope for cross-ownership to improve welfare regardless of spillover levels. Otherwise, there is scope for cross-ownership provided that spillovers are sufficiently large. The socially optimal degree of cross-ownership increases with the number of firms, with the elasticity of demand and of the innovation function, and with the extent of spillover effects. In terms of consumer surplus standard, the scope for cross-ownership is greatly reduced even under low market concentration. |
| Keywords: | Collusion; competition policy; innovation; minority shareholdings; modified HHI; partial merger |
| JEL: | D43 L13 O32 |
| Date: | 2016–06 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:11315&r=cse |
| By: | Aithal, Sreeramana |
| Abstract: | Strategic planning and decision making have an important role in organizational development and sustainability. Various types of strategies are used in strategic management such as Red ocean strategy, Blue ocean strategy, Green ocean strategy, Purple ocean strategy and Black ocean strategy. These strategies are used in organizations by top level executive managers for long term organizational sustainability and to face or deviate from the competition. Based on the organizational analysis, it is observed that many of the organizations use a new type of strategy which is derived from the above five types of strategies for sustainability. In this paper, we have generalized such strategies by developing a concept of ideal strategy and named it as "White Ocean Strategy". Based on observation and focus group study we developed this concept and studied the conditions, characteristics, and procedure of this model of decision making. We have studied the reasons why certain firms opt for White ocean strategy while making decisions for sustainability and consequences of such strategic decisions through investment/perceived Risk Matrix. We have also compared the different strategic choices with that of White ocean strategy. The details and consequences of such strategy followed in some organizations are also discussed. |
| Keywords: | Ideal Strategy, Red ocean strategy, Blue ocean strategy, Black ocean strategy, White ocean strategy, Comparison of different strategies, Characteristics of White ocean strategy. |
| JEL: | M10 |
| Date: | 2016–04 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:71770&r=cse |
| By: | OECD |
| Abstract: | High quality logistics is a key for the economic performance of any country. Well-functioning logistics both domestically and internationally is a necessary precondition of national competitiveness. As an open economy, Chile relies heavily on trade for its economic growth. Lower transport and logistics costs as well as effective coordination between operators and public and private sector would improve Chile’s competitiveness, boost exports and diversify production and trade patterns. |
| Date: | 2016–02–01 |
| URL: | http://d.repec.org/n?u=RePEc:oec:itfaac:16-en&r=cse |
| By: | Aljosa Sestanovic (Effectus - University Collage for Law and Finance) |
| Abstract: | Access to finance is widely recognized as one of the main impediments for growth and development of the small and medium enterprises. This article presents certain aspects of development of stock exchanges oriented towards small and medium-size enterprises. It aims to contribute towards the growing debate on funding of small and medium enterprises through dedicated stock exchanges and serve as a useful contribution to stakeholders to undertake certain steps toward implementation of effective policies for design of exchanges dedicated to financing of small and medium enterprises. |
| Keywords: | tržište Small and medium enterprises, stock exchanges, SME exchanges, alternative markets, multilateral trade facilities (MTFs), Zagreb Stock Exchange |
| JEL: | D53 G15 P34 |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:eff:wpaper:0008&r=cse |
| By: | Takashi Obinata (Faculty of Economics, University of Tokyo) |
| Abstract: | This Paper investigates the relationship between the growth in research and development investments (R&Ds) and GDP growth, focusing on the sector of execution. By the vector error correction model (VECM), the result shows that R&Ds by business enterprises do not contribute to GDP growth in Japan. However, the growth in R&Ds by universities gives significant positive effects to both GDP growth and the growth in R&Ds of business enterprises sector. According to the U.S. data, the opposite results are observed. While R&Ds by business enterprises contribute to GDP growth, those of universities have no effects on both GDP growth and the R&Ds by business enterprises. Another Estimation by a Structural Equation Model (SEM) gives the robust results, showing that the growth in R&Ds by universities contributes to GDP growth in Japan. |
| URL: | http://d.repec.org/n?u=RePEc:tky:jseres:2015cj279&r=cse |
| By: | Shastitko. Andrey (Lomonossov Moscow State University, Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Komkova, Anastasia Andreevna (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Kurdin, Alexander (National Research University Higher School of Economics, Moscow State University, Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | The work is dedicated to the identification and study of the relationship between the intensity of competition, market structures, competition policy and innovation activity. Critical analysis of foreign research shows that a universal solution, this problem has not, and the effects of competition policy on innovation in practice depends on a number of specific national and sectoral factors. Impact of innovation activity in respect of competition policy instruments is comprehensive, taking into account their impact on several aspects of the activities of businesses and entrepreneurs' expectations, as well as the availability of related markets. The paper evaluates the effects of the complex. Built in the theoretical model shows that the "inhospitable" attitude antitrust authorities to potentially anti-competitive actions of enterprises can be deterrent to innovative activity, but the rejection of antitrust measures may be harmful to consumers. The best option of competition policy seems favorable attitude towards business initiatives in the case of a likely increase their innovation potential with the simultaneous implementation of compensatory measures or protective active competition policy. |
| Keywords: | intensity of competition, market structures, competition policy, innovation activity |
| Date: | 2016–04–14 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:1448&r=cse |
| By: | Mari Martiskainen (Centre on Innovation and Energy Demand, Sussex Energy Group, SPRU) |
| Abstract: | This article focuses on the role of community leadership in the development of grassroots innovations. It asks: When community leaders initiate energy projects, what types of skills and knowledge practices do they utilise to nurture grassroots innovations? Grassroots innovations are usually driven by social and sustainability motives, and developed by civil society groups. Based on a mixed methods approach including research interviews and site visits, the article draws on previous literature on community leadership, grassroots innovations and niche literature. Community leadership is analysed via two in-depth community energy cases in the UK. Research findings show that community leadership can aid the development of grassroots innovations, which operate in niches and require nurturing. Community leadership benefits from being embedded into social networks, shared vision and decision making, but pre-existing skills and tacit knowledge also play a role. Community leaders can also assist niche building by working closely with intermediary actors. |
| Keywords: | community leadership, grassroots innovations, nurturing, intermediaries, community energy |
| Date: | 2016–10 |
| URL: | http://d.repec.org/n?u=RePEc:sru:ssewps:2016-10&r=cse |
| By: | Anderson, Kym |
| Keywords: | Agricultural and Food Policy, |
| Date: | 2016–02 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aare16:235238&r=cse |
| By: | Gregory DeAngelo (West Virginia University, Department of Economics); Bryan McCannon (West Virginia University, Department of Economics) |
| Abstract: | Explanations for cooperation in Prisoner’s Dilemma games (PD) have generated significant interest. While institutional explanations, such as the role of repeated interactions and communication, have offered considerable explanatory ability, a psychological measure of Theory of the Mind (ToM) – Reading the Mind in the Eyes – of an individual’s ability to process social and emotional cognition offers new insights. Using this measure, we examine how ToM explains (un)cooperative behavior in a standard PD game. We find that subjects who have higher ToM are less cooperative in PD games and extract higher payoffs. |
| Keywords: | Cooperation, Experiment, Prisoner’s Dilemma, Reading Mind in the Eyes, Theory of the Mind |
| Date: | 2016–06 |
| URL: | http://d.repec.org/n?u=RePEc:wvu:wpaper:16-16&r=cse |
| By: | Zoran Aralica; Nebojsa Stojcic |
| Abstract: | Abstract Past decades in Central and South East European countries have been characterised with shrinking of manufacturing output and employment. However, little is known about the causes, nature and the extent of deindustrialization in these countries at the regional level. The objective of this research is to explore the regional patterns of deindustrialization and determinants of reindustrialization in several CEECs and SEECs. Our analysis presents one of the first attempts to address these processes at regional level while taking into account the spatial effects. A spatial panel Durbin econometric technique is applied to data covering 2006 – 2012 period to discern inter – regional from intra – regional effects. Results of investigation reveal spatial clustering of economic activity. Traits of deindustrialization are observed in metropolitan areas and in regions on eastern belt of these countries while other regions reveal traits of shift towards high technology intensive manufacturing. Recommendations for future policy makers are provided. |
| Keywords: | deindustrialization, reindustrialization, regions, spatial analysis |
| Date: | 2015–12 |
| URL: | http://d.repec.org/n?u=RePEc:wii:bpaper:118&r=cse |
| By: | Simachev, Yuri (Russian Presidential Academy of National Economy and Public Administration (RANEPA), Russian Science Foundation); Kuzyk, Mikhail (Russian Presidential Academy of National Economy and Public Administration (RANEPA), Interdepartmental Analytical Center); Feygina, Vera (Interdepartmental Analytical Center) |
| Abstract: | Objective: microeconomic analysis of the current state and problems of scientific and industrial cooperation, key factors and obstacles to the development of cooperation between Russian research organizations with business, as well as the mechanisms of state support for scientific and industrial cooperation and the results of their application. |
| Keywords: | microeconomic analysis, science, technology, high-tech sector, Russia |
| Date: | 2015–03–04 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:431503&r=cse |
| By: | De Giorgi, Giacomo (Federal Reserve Bank of New York); Frederiksen, Anders (Aarhus University); Pistaferri, Luigi (Stanford University) |
| Abstract: | In this paper we study the relevance and mechanics of consumption network effects. We use long panel data on the entire Danish population to construct a measure of consumption based on administrative tax records, and define the peer groups in terms of workplace, occupation, education, and age. We then apply an IV strategy, and fixed effect models, to recover the effects. Our instruments arise naturally from the network structure and firms shocks. The estimated effects are statistically significant and relevant for policies as they generate non-negligible multiplier effects. Further, the results are consistent with a "Keeping-up" model. |
| Keywords: | consumption, networks, social multiplier, risk sharing |
| JEL: | E21 D12 D85 |
| Date: | 2016–06 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp9983&r=cse |
| By: | Chiquiar Daniel; Tobal Martín; Yslas Renato |
| Abstract: | Improvements in Information and Communication Technologies (ICT) have had differential impacts on the costs of offshoring service tasks. As a result, services with stronger tradability characteristics are at a higher risk of being offshored. This has increased the need for coming up with proper measures of service tradability and to better understand the labor market implications of service offshoring. Indeed, recent literature suggests that both skill-intensity and tradability are key determinants of wage and employment effects. Nonetheless, the lack of widely accepted definitions of tradability, the absence of high quality data on service trade flows and the difficulty of measuring import competition at higher disaggregation levels pose difficulties to attain further empirical progress. Moreover, the theoretical literature must produce a new generation of models that could rationalize the stylized facts. |
| Keywords: | Service Offshoring; ICT Revolution; Trade-in-Tasks. |
| JEL: | F11 F16 |
| Date: | 2016–05 |
| URL: | http://d.repec.org/n?u=RePEc:bdm:wpaper:2016-05&r=cse |
| By: | Jellal, Mohamed; Bouzahzah, Mohamed; Asongu, Simplice |
| Abstract: | This study articulates the interaction between institutional governance, education and economic growth. Given the current pursuit of education policy reforms and knowledge economy around the world, it is of policy relevance to theoretically analyze the main mechanisms by which the macroeconomic impact of education on growth (and economic development) occurs. Our theoretical model demonstrates how incentives offered by the government affect human capital accumulation which ultimately engenders positive economic development externalities. We articulate two main channels through which education affects economic growth. The first channel highlights direct positive effect of educational quality on the incentive to accumulate human capital by individuals, which makes them more productive. The second channel appears in the explicit function of the economic growth rate. As a policy implication, we have shown that the growth rate depends on the rate of return on human capital or that this rate of return itself depends on the quality of governance, which further increases growth. As a result, institutional quality has a double dividend, which suggests considerable benefits to educational reforms. |
| Keywords: | Institutions, Human capital, Education, Growth |
| JEL: | H11 O15 O43 |
| Date: | 2015–12 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:71785&r=cse |
| By: | Albane Tarnaud (IESEG School of Management; CNRS-LEM 9221 and IESEG School of Management) |
| Abstract: | This paper examines the definition of a technology and the choice of a model orientation prior to the analysis of portfolios of financial assets with Data Envelopment Analysis. We acknowledge the previous contributions in the field and provide answers to the questions raised in Cook, Tone & Zhu (2014). These answers allow to determine the purpose of the study and to define the underlying ‘financial’ technology through the identification of the decision-making units and the selection of input and output variables in a multi-moment framework. We also show their impact on the traditional set of axioms that further characterizes the technology and propose some adjustments to the traditional models. We provide illustrations to show the effects of such changes on the scores of technical efficiency and ranking of the portfolios. |
| Keywords: | Data Envelopment Analysis; Portfolio Frontier; Model orientation; Mean-Variance; Risk preferences |
| Date: | 2016–03 |
| URL: | http://d.repec.org/n?u=RePEc:ies:wpaper:e201605&r=cse |
| By: | Heberer, Thomas |
| Abstract: | This paper starts out from James C. Scott's seminal book "Weapons of the Weak" dealing with everyday forms of collective action by private entrepreneurs. It raises the question by what kind of formal and informal mechanisms Chinese entrepreneurs exert political influence in order to protect or enforce their interests. The author explored two aspects: First, the way in which private entrepreneurs in China act in a collective manner, i. e. as a strategic group; and second, how collective action by private entrepreneurs is altering both political structures and the institutional setting of the political system and what effect this is having on stabilization of the system as a whole. In addition, this paper examines patterns of formal and informal representation of private entrepreneurs in Chinese politics. The author contends that as Chinese entrepreneurs increasingly turn to patterns of collective action they are developing into a coherent group with a broad range of strategies aimed at safeguarding their interests, and that in so doing they are playing a salient role as system stabilizers. |
| Keywords: | private entrepreneurs as strategic groups,political strategies and corporate political action,collective action,connective action,lobbying,weapons of the rich,everyday forms of policy influence |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:udedao:1082016&r=cse |
| By: | Aithal, Sreeramana |
| Abstract: | Innovations in higher education include improvements in existing pedagogies and developing new pedagogies based on the subject to be taught. Depending on the age, gender, regional background, the effective teaching and learning methods may be different. Business schools are providing higher education to improve the necessary skills of the student either to start new a business or to manage an existing business effectively by means of making effective decisions on a business problem by considering the business environments effectively. Experimental learning is a new pedagogy in business management learning method where students are exposed to real business problems and made them as part of decision-making team. Such exposure in real-world problems will improve the risk taking ability and the confidence of the students while becoming an entrepreneur after their graduation. Based on the success of experimental learning method introduced in many business schools, the method is becoming more and more popular and is finding a place in the pedagogy of many top level Business schools in the world. In this paper, we have made an empirical study on adopting experimental learning scenario in some identified top business schools in the world. We have collected information from the website of top 25 Business schools based on recently announced B-school ranking and studied their effort and results of such method adoption in a curriculum. |
| Keywords: | Innovations in higher education, Experimental learning in Business Schools, National institutional ranking framework, Factors affecting ranking framework. |
| JEL: | I21 |
| Date: | 2016–05 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:71748&r=cse |