Firms' Growth,Size and Age: A Nonparametric Approach

This paper offers empirical evidence of firm failurerates as well as the mean of the distribution ofrealized growth rates, distinguishing between thesample of non-failing firms and the sample of allfirms, failing and non-failing. Attention is directedat identifying a set of characteristics, in particularthe size and age of firms, systematically related tothe patterns of firm growth and exit, using a panel ofSpanish manufacturing firms. The two maincontributions of the paper are the use ofnonparametric techniques and the analysis of issuesignored in other studies like theregression-to-the-mean bias and the measurement oflearning effects. We find evidence that failure ratesand the mean growth rate of successful firms declinewith size and age. When failing firms are integrated,there are no significant differences in the meangrowth rate across the age and size of firms.Regression-to-the-mean does not prove to be asubstantial factor behind the negative relationshipbetween size and growth of surviving firms.     

Social sustainability in the food value chain: what is and how to adopt an integrative approach?

Quality & Quantity - Despite sustainability is a trending topic in the literature, the analysis of the social dimension in the food industry is almost neglected due to its complexity and the...     

GREENHOUSE GAS EMISSIONS AND ECONOMIC STRUCTURE IN URUGUAY

Using input–output analysis, we identify the key sectors in greenhouse gas (GHG) emissions of the Uruguayan economy. The responsibilities of each sector in terms of its emissions are decomposed into an own component, generated during the activities of the sector, and an indirect component, generated by the induced activities in other sectors. This has important implications for the design of mitigation polices, as the appropriate policy measures are contingent on the nature of the pollution. Technical improvements and best practices are effective only when applied to directly polluting sectors, while demand policies may be more appropriate for indirectly polluting sectors. In addition, we analyze pollution generated during the production of exports. The results show that demand policies are going to be effective in the Building, the Hotel and restaurants, and the Wholesale and retail trade; and repair of motor vehicles and motorcycles sectors. These policies complement GHG emissions’ mitigation policies in directly polluting sectors (mainly the Cattle farming and the transport-related sectors). Finally, methane and nitrous oxide emissions are mainly the consequence of production for exports, while carbon dioxide emissions are mainly driven by production for domestic consumption.     

Yield spreads,currency movements,and recession predictability for southern border economies in the United States

Prior research establishes that the spread between long- and short-term bond yields often provides valuable information for predicting business cycle downturns. This study examines the predictive capacity of the yield spread for the United States metropolitan economies situated along the border with Mexico. Because of the location of these urban economies and various economic ties linking them with twin cities across the border, the Mexico yield spread, and the real dollar/peso exchange rate are also employed as potential recession predictors. Results suggest that a flattening of the yield curve for either country tends to increase the probability of recessions in border economies. Furthermore, declines in the real value of the peso, which are typically associated with greater cross-border manufacturing activity, are found to reduce recession likelihoods in the metropolitan economies examined on the north side of the international boundary.     

Does the nationalization of party systems affect the composition of public spending?

Do political institutions shape the structure of public spending? Based on a sample of elections in eighteen Western European countries over the period 1970–1998, this paper shows that governments’ margin of maneuverability to design and implement fiscal policies depends on the level of party linkage or the nationalization of party systems, defined as the extent to which parties are uniformly successful in winning votes across districts. The mechanism behind this argument is that in weakly nationalized countries there are additional transaction costs to change the structure of budgets as a consequence of the survival of local parties and interests. Therefore, the composition of public spending is more rigid here than in highly nationalized countries.     

The Use of a Retail Store Database for Brand Choice Analysis

This paper examines relationships between perceptions and behaviours of channel members in an industry embroiled in conflict. We scrutinize these relationships from the perspective of the retailers. We utilize realistic perceptual and behavioural constructs which are meaningful to retailers. Our results suggest that the relationships between perceptions and behaviours may be bi-directional. We review the pertinent literature on conflict and suggest directions for future research.     

The moderating effect of culture on overall perceived value in the online purchasing process

This study analyzes differences in the formation of overall perceived value of a tourism service purchased online, taking tourists’ national culture as a moderating variable. The intention is to understand the influence of cultural dimensions on the antecedents and consequences of overall perceived value amongst consumers of different cultures. The sample is made up of 300 tourists (150 British and 150 Spanish) who have purchased a tourism service via the Internet. The two cultures to which the tourists belong differ in terms of the cultural dimensions of uncertainty-avoidance and individualism–collectivism. The findings reveal that in the formation of overall perceived value—which embraces both the online purchase phase and also consumption of the tourism service—moderating effects are generated principally by the cultural dimensions of uncertainty-avoidance and individualism/collectivism. The key practical implications of the study are to understand the variations on overall perceived value when making an online purchase, and to understand the role played by cultural dimensions in interactions with web-based businesses.     

The perceived value of the rural tourism stay and its effect on rural tourist behaviour

Rural tourism (RT) constitutes a valuable tool for the sustainable development of rural areas. This paper explores issues of tourist motivation in RT and develops a specially tailored perceived value (PV) scale for the RT sector. Special attention is given to links between tourists’ motivations, perceived values, and the service and actions by RT providers leading to the sustainability of rural life, culture, economies and environment. Following a literature review, qualitative and quantitative surveys developed a 27-item scale, exploring both the functional and the affective components of the scale. Seven research hypotheses were then tested by quantitative survey work. It was proven that the activities undertaken by the rural enterprise leading to greater rural sustainability are reflected in the PV scale through higher levels of satisfaction and loyalty of the rural tourists. The results of the study reveal that the RT sector has specific characteristics that tourists greatly value and that other specialist tourist markets cannot offer, as highlighted in the contribution made by RT enterprises to rural sustainability. This knowledge can help tailor product development and destination design to suit specific demands and influence communication and promotional activities.