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on Social Norms and Social Capital |
| By: | Luigi Guiso (EIEF and CEPR); Paola Sapienza (Northwestern University, NBER and CEPR); Luigi Zingales (University of Chicago, NBER and CEPR) |
| Abstract: | We study which dimensions of corporate culture are related to a firm’s performance and why. We find that proclaimed values appear irrelevant. Yet, when employees perceive top managers as trustworthy and ethical, firm’s performance is stronger. We then study how different governance structures impact the ability to sustain integrity as a corporate value. We find that publicly traded firms are less able to sustain it. Traditional measures of corporate governance do not seem to have much of an impact. |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:eie:wpaper:1327&r=soc |
| By: | Maria Rosaria Carillo (University of Naples Parthenope); Vincenzo Lombardo (University of Naples Parthenope); Alberto Zazzaro (Universit… Politecnica delle Marche, MoFiR) |
| Abstract: | Two general conclusions can be drawn from the historical and empirical economic research on family firms: (1) it is impossible to identify a single definitive destiny for proprietary capitalism in the process of industrial development regardless of the cultural and institutional context in which the family firms operate; (2) in the same or similar economic environments well-performing (well managed) coexist with underperforming (poorly managed) family firms. In this paper, we develop an overlapping generations model, where agents are endowed with heterogeneous innate talent, and family firms have a comparative advantage over non-family enterprises as they have access to an additional source of immaterial capital, namely the network of family connections. Our results accommodate both the polarization of family firms into two groups with different levels of profitability and the uncertain destiny of proprietary capitalism between a crony and an entrepreneurial society, depending on the institutional framework and technological dynamism of the economy. |
| Keywords: | Family firms, allocation of talents, economic growth, family connections, technological change |
| JEL: | J62 L26 O40 |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:anc:wmofir:89&r=soc |
| By: | Tindara Addabbo; Elena Sarti; Dario Sciulli |
| Abstract: | This paper will focus on the living conditions of disabled people with different degree of limitations as regards to daily activities. In a first step of analysis we focus on the predictors of four specific domains of life satisfaction. In a second step, we attempt to define the different well-being dimensions of disabled people by using the indicators available in the 2011 ISTAT Survey on social inclusion of people with disabilities and by comparing the well-being attainments with respect to the different levels of functional limitations. Given the relevance of social interaction in the life satisfaction of individuals, we focus on this dimension of well-being by analysing the effect of functional limitations on its development, measured by using the observable indicators on the satisfaction of interaction with friends and relatives, the extent of this interaction, and frequency and satisfaction on internet use. |
| Keywords: | disability, well-being, life satisfaction, social interaction |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:mod:cappmo:0107&r=soc |
| By: | Alexis Antoniades; Ganesh Seshan; Roberto A. Weber; Robertas Zubrickas |
| Abstract: | We provide a direct test of the impact of altruism on remittances. From a sample of 105 male migrant workers from Kerala, India working in Qatar, we elicit the propensity to share with others from their responses in a dictator game, and use it as a proxy for altruism. When the entire sample is considered, we find that only migrants' income robustly explains remittances. Altruism does not seem to matter. However, we document a strong positive relationship between altruism and remittances for those migrants that report a loan obligation back home, which is nearly half the sample. We explain the role of loan obligations with a standard remittance model, extended with reference-dependent preferences. |
| Keywords: | Remittances, altruism, reference-dependent preferences, dictator game, Qatar |
| JEL: | O12 O15 D81 |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:zur:econwp:131&r=soc |
| By: | Eleonora Patacchini (Center for Policy Research, Maxwell School, Syracuse University, 426 Eggers Hall, Syracuse, NY 13244-1020); Giuseppe Venanzoni (Sapienza University of Rome, Italy); |
| Abstract: | Using detailed data on friendship networks within neighborhoods, we investigate the importance of social interactions in one's own residential neighborhood in the demand for housing quality. We find evidence consistent with the presence of peer effects, especially for households living in urban areas. Our findings are in line with the prediction of a model where conformity preferences are the key element underlying economic outcomes that involve interactions with peers. Key Words: Social Networks; Linear-In-Means Model; Spatial Autoregression Model; Social Norms JEL No. A14, C21, D85, R21, Z13 |
| Date: | 2013–09 |
| URL: | http://d.repec.org/n?u=RePEc:max:cprwps:158&r=soc |
| By: | Katarzyna Sznajd-Weron; Janusz Szwabinski; Rafal Weron; Tomasz Weron |
| Abstract: | A fundamental question related to innovation diffusion is how the social network structure influences the process. Empirical evidence regarding real-world influence networks is very limited. On the other hand, agent-based modeling literature reports different and at times seemingly contradictory results. In this paper we study innovation diffusion processes for a range of Watts-Strogatz networks in an attempt to shed more light on this problem. Using the so-called Sznajd model as the backbone of opinion dynamics, we find that the published results are in fact consistent and allow to predict the role of network topology in various situations. In particular, the diffusion of innovation is easier on more regular graphs, i.e. with a higher clustering coefficient. Moreover, in the case of uncertainty – which is particularly high for innovations connected to public health programs or ecological campaigns – a more clustered network will help the diffusion. On the other hand, when social influence is less important (i.e. in the case of perfect information), a shorter path will help the innovation to spread in the society and – as a result – the diffusion will be easiest on a random graph. |
| Keywords: | Diffusion of innovation; Opinion dynamics; Network structure; Watts-Strogatz network; |
| JEL: | C63 D70 O33 |
| Date: | 2013–10–20 |
| URL: | http://d.repec.org/n?u=RePEc:wuu:wpaper:hsc1309&r=soc |
| By: | Scott Wallsten |
| Abstract: | The Internet has radically transformed the way we live our lives. The net changes in consumer surplus and economic activity, however, are difficult to measure because some online activities, such as obtaining news, are new ways of doing old activities while new activities, like social media, have an opportunity cost in terms of activities crowded out. This paper uses data from the American Time Use Survey from 2003 – 2011 to estimate the crowdout effects of leisure time spent online. That data show that time spent online and the share of the population engaged in online activities has been increasing steadily. I find that, on the margin, each minute of online leisure time is correlated with 0.29 fewer minutes on all other types of leisure, with about half of that coming from time spent watching TV and video, 0.05 minutes from (offline) socializing, 0.04 minutes from relaxing and thinking, and the balance from time spent at parties, attending cultural events, and listening to the radio. Each minute of online leisure is also correlated with 0.27 fewer minutes working, 0.12 fewer minutes sleeping, 0.10 fewer minutes in travel time, 0.07 fewer minutes in household activities, and 0.06 fewer minutes in educational activities. |
| JEL: | J22 L86 L96 |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:19549&r=soc |