Innovation, progress, entrepreneurship and cultural aspects

In the case of economic progress, some of the literature has considered economic growth and economic progress to be the same thing. However, there is a relevant difference between the two concepts. As Holcombe states, economic growth considers the quantity of products and economic progress the quality of products. Innovation has been considered as a key factor to promote economic progress. A culture would have a direct and an indirect effect on innovation through entrepreneurship. The goal of this paper is to analyze the relationship between culture and innovation. To carry out this study, an empirical estimation has been developed for the case of 11 countries.     

Dual-listings on international exchanges: the case of emerging markets' stocks

This paper examines the effects on stock returns of dual-listing on an international exchange. My sample consists of 70 firms from 10 emerging markets that dual-listed on the NYSE, NASDAQ and SEAQ-I (London) over the period 1991–1995. I evaluate whether an international dual-listing has any significant effect on returns, for the particular case of emerging markets' firms, and I proceed to investigate whether there is evidence to support an International Asset Pricing based explanation. In addition I compare the impact of US and London SEAQ-I listings. My results confirm previous empirical findings on international listings: the firms in my sample experience significant positive abnormal returns before listing and a significant decline in returns following listing. Evidence seems to be supportive of the segmentation hypothesis: dual-listing effects are more pronounced for emerging markets' listings and that pattern is similar across exchanges.
G15     

Influence of technological support,skills and competencies,and learning on corporate entrepreneurship in European technology firms

In the today′s changing environment, firms are hardly competing with each other to achieve a competitive advantage that can differentiate them from others and improve their organizational performance. In this sense, it is crucial to develop corporate entrepreneurship and promote strategic variables that foster it.The aim of this paper is to highlight the importance of different technological variables (top management support to technology, technological skills and technological distinctive competencies) and organizational learning on corporate entrepreneurship, and thus analyze the influence of corporate entrepreneurship on organizational performance in the context of technology firms.A sample of 160 European technology firms was selected from the database Amadeus in 2009 with CEOs as our main informants. The hypotheses studied are empirically confirmed by using a hierarchical regression model.     

Non-profit organizations,entrepreneurship, social capital and economic growth

Traditional economic growth literature focuses mainly on the neoclassical approach. According to this view, firms try to maximize their benefits so that there is no place for non-profit organizations (NPOs). However, the activity of NPOs has a higher relevance in society, and it is necessary to analyze its effects on economic growth. These effects are not direct, but occur through other variables that directly promote economic growth, such as entrepreneurship activity and human capital, and through the improvement of education. We engage in an empirical analysis of these issues using data from 11 countries.     

Modelling price transmission and volatility spillover in the Slovenian wheat market

Interdependence between first and second moments of producer and consumer wheat prices in Slovenia is assessed, in light of the recent major historical events that the country has undergone, as well as the recent rumours of cartel agreements between millers causing a decline in farm-gate prices, while leaving consumer prices untouched. A threshold vector error correction and multivariate generalized autoregressive conditional heteroscedasticity model with exogenous variables is applied. Results indicate that price-level adjustments mainly favour retailers by increasing their marketing margins. Important second-moment interactions are also identified. Increases in international wheat stocks reduce producer prices, while higher interest rates increase their instability.     

The ‘disguised’ foreign investor: Brands,trademarks and the British expatriate entrepreneur in Brazil

Abstract

This article examines the impact of the British expatriate entrepreneur, and his processes of knowledge transfer, on the industrialization and economic development of Brazil between 1875 and 1914. It focuses on the textiles industry, and combines original trademark data with conventional trade and investment statistics, and also case study analysis about firms and their entrepreneurs. It argues that British investment in Brazil was higher and had a deeper impact on economic development than considered by existing research, as expatriate entrepreneurs ‘disguised’ a substantial amount of foreign investments by acting as shareholders and top managers of newly established local businesses.     

Caring and Conflicted: Mothers’ Ethical Judgments about Consumption

Literature on consumer ethics tends to focus on issues within the public sphere, such as the environment, and treats other drivers of consumption decisions, such as family, as non-moral concerns. Consequently, an attitude–behaviour gap is viewed as a straightforward failure by consumers to act ethically. We argue that this is based upon a view of consumer behaviour as linear and unproblematic, and an approach to moral reasoning, arising from a stereotypically masculine understanding of morality, which foregrounds abstract principles. By demonstrating the importance of context to consumption decisions and articulating the impact of caring relationships, we highlight how such decisions are both complex and situated. This is particularly evident for decisions involving the needs of others, as occurs in family life. We argue that the incorporation of care ethics provides both theoretical insights and a more complete account of consumer ethics. This is explored empirically through an investigation of the ethical dilemmas arising from consumption decisions made by mothers of young children. Such decisions juxtapose an ethical consumption orientation (representing impartial concerns) with care for one’s child. Therefore, what has been previously considered a failure to act ethically may in fact be the outcome of complex decision making, which involves competing ethical considerations. We discuss the implications of our findings for theory and practice and how this approach to consumer ethics could be applied more widely.     

The effects of externalities and framing on bribery in a petty corruption experiment

Using a simple one-shot bribery game simulating petty corruption exchanges, we find evidence of a negative externality effect and a framing effect. When the losses suffered by third parties due to a bribe being offered and accepted are high and the game is presented as a petty corruption scenario instead of in abstract terms bribes are less likely to be offered. Higher negative externalities are also associated with less bribe acceptance. However, framing has no effect on bribe acceptance, indicating that the issue of artificiality may be of particular importance in bribery experiments.