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on Cultural Economics |
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Issue of 2024–12–30
four papers chosen by Roberto Zanola, Università degli Studi del Piemonte Orientale |
| By: | Alexander Cuntz; Alessio Muscarnera; Utsav Bahl; Prince C. Oguguo |
| Abstract: | This research looks at the distributional effects of copyright when creative works are protected under multiple rights. It exploits a quasi-natural experiment and recent law changes introduced under EU Directive 77/2011 on the term of protection of copyright and related rights as well as variation in author death years. We examine the causal implications of copyright and related rights protection around music recordings vis-Ã -vis public domain status for the availability of classical music as physical and digital releases. Results suggest that public domain status of related rights favours the availability and re-releases of classical music in physical and digital formats. The emergence of music streaming services in EU member states and catalogue-wide licensing moderate effects over time. We however find little evidence that public domain status of author rights affects the distribution of classical music in digital or physical channels. We contemplate the implications of our results for intellectual property policy. |
| Keywords: | Innovation, Diversity Gaps, Intellectual Property |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:wip:wpaper:87 |
| By: | Martina Nannelli (University of Florence); Niccolò Innocenti (University of Florence); Luciana Lazzeretti (University of Florence) |
| Abstract: | This paper examines the role of cultural heritage in the development of smart cities, focusing on the role of digital technology in enhancing the preservation, management, accessibility and sustainability of heritage sites. Utilizing a twofold methodological approach that combines a bibliometric analysis and a critical literature review, the study analyzes existing academic papers to evaluate the opportunities and challenges associated with smart technologies—such as Artificial Intelligence (AI), Internet of Things (IoT), and big data—in the preservation, accessibility, and promotion of cultural heritage. Through this dual analysis, key themes emerge regarding the enhancement of citizen engagement, innovative heritage management practices, and the cultural preservation in smart city contexts. This paper contributes to the discourse on sustainable smart city development by emphasizing the importance of a balanced, heritage-sensitive approach to urban digitalization, advocating for policies that support both technological advancement and cultural integrity aimed at supporting sustainable and inclusive urban development. |
| Keywords: | cultural heritage, smart cities, digitalization. |
| JEL: | O18 O21 O33 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:frz:wpmmos:wp2024_03.rdf |
| By: | Paola Beccherle (University of Florence); Luciana Lazzeretti (University of Florence); Stefania Oliva (University of Florence) |
| Abstract: | This study examines the concept of a museum’s reputation and its interaction with the reputation of the city. In particular, it reflects on their interplay in the online environment. To contribute empirically to the reflection, the case of the Uffizi Galleries and Florence was analyzed. The research adopts an holistic approach, reviewing literature from management, branding, regional economics, and sociology. The study employs a single case study methodology, utilizing interviews, participant observation, and secondary data analysis. Additionally, topic modeling, sentiment analysis, and emotions analysis were conducted on articles from three newspapers—local, national, and international. Key findings highlight the impact of the museum's digital strategies, leadership, and collaborations on its reputation. The analysis of online media reveals positive sentiment and emotions associated with the Uffizi, reinforcing its reputation as a prestigious cultural institution. However, limited interaction between the museum’s and the city’s reputation emerged. Even if the Uffizi enhance Florence's attractiveness as a tourist destination, from the analysis it emerged that the Uffizi Galleries’ brand is distinct and autonomous form the city of Florence’s brand. The paper concludes with practical recommendations for museums to invest in digital strategies, cultivate strong leadership, and develop collaborations to enhance their reputation, and policy recommendation for cities that want to leverage their museums to enhance the city’s reputation contributing to urban economic and cultural vitality. |
| Keywords: | reputation; online communication; museum; Uffizi Galleries; Florence. |
| JEL: | M20 O33 Z11 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:frz:wpmmos:wp2024_02.rdf |
| By: | Maria Teresa Medeiros Garcia; Tiago Miguel Batista Raimundo |
| Abstract: | This paper examines how player transfers influence the stock prices of publicly traded football clubs through an event study approach. The analysis focus on five prominent European teams—Manchester United, Juventus, Borussia Dortmund, Olympique Lyon, and Ajax—focusing on 230 player transactions that occurred between 2018 and 2023. The study assesses abnormal returns (AR) and cumulative abnormal returns (CAR) within a 10-day event window, encompassing five days prior to and following the announcements of transfers. Findings indicate that high-value transfers typically result in positive abnormal returns, which reflect investor optimism regarding the new player's potential impact on the team's success. In contrast, sales and loans of players tend to elicit negative reactions from the market, indicating concerns about possible adverse effects on team performance. These results support the Efficient Market Hypothesis by demonstrating that stock prices quickly adjust to new information such as player transfers. This research adds to the expanding literature at the intersection of sports events and financial markets, providing valuable insights for clubs operating in capital markets and investors aiming to understand the dynamics of football markets. |
| Keywords: | Event Studies; Football Transfers; Abnormal Returns; Stock Market; Efficient Market Hypothesis. |
| JEL: | G14 L83 M41 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:ise:remwps:wp03612024 |