FINANCIAL FRICTIONS AND NEW EXPORTER DYNAMICS

This article studies the role of financial frictions as a barrier to international trade. We study new exporter dynamics to identify how these frictions affect export decisions. We introduce a borrowing constraint and working capital requirements into a standard model of international trade, with exports more working capital intensive than domestic sales. Our model can quantitatively account for new exporter dynamics in contrast to a model with sunk export entry costs. We provide additional evidence in support of our mechanism. We find that financial frictions reduce the impact of trade liberalization, suggesting that they constitute an important trade barrier.     

Who takes part in film tourism? The analysis of determinants of visiting film locations

Film tourism is one of the fastest developing sub-segments of creative tourism in the 21st century. Many studies investigated tourists' motivation and behavior towards film tourism in the context of psychological and emotional motives and their involvement and experience. However, we still know very little about the structure of visitors of film sites. Utilizing primary data collected in Slovakia and adopting the econometric approach, the aim of this empirical study is to estimate the relationship between preferred trip parameters and the decision to include a visit to a film location in the travel plan. The results suggest that visits to film sites occur to a significant extent by chance, film tourism is additional, mainly to other segments of tourism, characterized as adventurous and explorative experiences. Visits to film locations occur mainly as trips by younger age groups and longer stays, mostly as self-organized trips, regardless of budget, frequency of travel, or gender.     

Probability and Mode of Acquisition Effects on Choices Between Hedonic and Utilitarian Options

We examine the effects of probability and mode of acquisition on choices between hedonic and utilitarian alternatives. The results suggest that the lower the probability of receiving the selected item, the more likely individuals will be to choose the more hedonic alternative in a choice set. Mode of acquisition (i.e., whether subjects are choosing in a windfall or a standard purchase situation) is also found to affect preferences, even when probability of acquisition is held constant. Hedonic options appear to be more popular as prizes than as purchases, whereas utilitarian options appear to be more popular as purchases than as prizes.     

Models Predicting Financial Distress Applied to Specific Insolvency Cases

International Advances in Economic Research -     

Implementation of eGovernment from the Perspective of Public Administration

International Advances in Economic Research -     

Relative Risk Aversion and Power‐Law Distribution of Macroeconomic Disasters

The coefficient of relative risk aversion is notoriously difficult to estimate. Recently, Barro and Jin (On the size distribution of macroeconomic disasters, Econometrica 2011; 79 (3): 434–455) have come up with a new estimation approach that fits a power‐law model to the tail of distribution of macroeconomic disasters. We show that their results can be successfully replicated using a more refined power‐law fitting methodology and a more comprehensive dataset. Copyright © 2014 John Wiley & Sons, Ltd.     

The relationship between the firm's social media strategy and the consumers' engagement behavior in aviation

Social media platforms constitute a new frontline for brands to build relationships with their customers. Nevertheless, the literature on social media engagement behavior is unidimensional, as it focuses on customer engagement while neglecting the customer's influence on managerial decisions. The current paper goes a step further by applying the theory of the marketing firm (TMF). We investigated consumer-firm bilateral contingencies through three studies. The first study captures up to 60% of the variance in consumer responses given on Icelandair's Facebook page. The second study shows how customers engage with Icelandair's social media platforms. The third study illustrates the firm's social media strategy from a managerial perspective.     

What brings your subjects to the lab? A field experiment

This paper reports a field experiment involving manipulation of invitations to register in an experimental economics subject database. Two types of invitations were sent out: one emphasizing pecuniary and the other non-pecuniary benefits of participation. The former resulted in higher response rate and the strength of this treatment effect was comparable in different groups defined by gender and academic major. In a follow-up test conducted about a year later it was found that individuals recruited by invitations emphasizing monetary benefits were less willing to make an effort to participate in a non-paid survey. The very same survey also showed that they were marginally less altruistic in general.     

The Czech economic transition

The processes that will drive the next stage of the Czech transition are likely to be similar to those promoting real convergence in the countries of the EU periphery. We draw on previous modeling research on these latter economies to construct and calibrate a small macrosectoral model of the Czech Republic. Model simulations explore some key policy issues facing CEE‐country decision‐makers: labour market reforms, disinflation and industrial development. Our analysis suggests that much can be learned from the experience of countries like Ireland and Portugal which have converged substantially towards EU average living standards.