A gramscian perspective on field dynamics. The case of the privatization of Italian steel industry

Institutional fields are not static, they undergo times of fragmentation and times of settlement. Neo-institutional research has long explained the settlement of fields as either the effect of political manoeuvring of actors, or of discursive activity influencing cultural codes, narratives and symbols. But can these processes really be considered in isolation? In this paper, we propose to adopt a comprehensive view on fields’ dynamics, one that embraces the interaction of political and discursive manoeuvring to explain how fragmented fields manage to settle. To do so, we build on the Gramscian concept of hegemonic practices as discursive and political processes that integrate cultural equivalence among actors with political alliances based on aligned interests. Hegemonic practices align actors in a new historical bloc (a new settlement). Through this lens, we interpret the case of the Italian State steel privatization (1984–1995) and propose a process model explaining what yields fields’ dynamics from fragmentation to settlement. The model highlights the action of diffused agency in field dynamics, thus overcoming the obsolete challenger/incumbent view, and the need of becoming a historical bloc for alliances to stabilize a field.     

12. Transculture: A Broad Way Between Globalism and Multiculturalism

This paper develops a concept of transculture as a model of cultural development that differs from both leveling globalism and isolating pluralism. While culture frees humans from the material dependencies of nature, it also creates new, symbolic dependencies—on customs, traditions, conventions, which a person receives as a member of a certain group and ethnos. Among the many freedoms proclaimed as rights of the individual, there emerges yet another freedom—from one's own culture, in which one was born and educated. Transculture is viewed as the next level of liberation, this time from the "prison house of language," from unconscious predispositions and prejudices of the "native," naturalized cultures. The case of the Japanese poet Araki Yasusada (1903–1972), a survivor of Hiroshima, demonstrates how transcultural creativity, though cast in the form of a literary hoax, can produce an internationally recognized achievement. Transculturalism is especially needed in world politics, where the factor of fixed cultural identity based on race, ethnos, religion, or ideological commitments turned out to be a source of conflict and violence. This paper argues that the categories of opposition and identity do not preclude the significance of the third category, which is difference. The differences complement each other and create a new interpersonal transcultural community to which we belong, not because we are similar but because we are different. The transcultural perspective opens a possibility for globalization not as homogenization but, rather, as further differentiation of cultures and their "dissemination" into transcultural individuals, liberating themselves from their dependence from their native cultures. The global society can be viewed as the space of diversity of free individuals rather than that of fixed groups and cultures. It is an alternative to the clash of civilizations and a hope for lasting peace.     

Improving social harm indices with a modulated Hawkes process

Communities are affected adversely by a range of social harm events, such as crime, traffic crashes, medical emergencies, and drug use. The police, fire, health and social service departments are tasked with mitigating such social harm through various types of interventions. While various different social harm indices have been proposed for allocating resources to spatially fixed hotspots, the risk of social harm events is dynamic, and new algorithms and software systems that are capable of quickly identifying risks and triggering appropriate public safety responses are needed. We propose a novel modulated Hawkes process for this purpose that offers flexible approaches to both (i) the incorporation of spatial covariates and leading indicators for variance reduction in the case of rarer event categories, and (ii) the capture of dynamic hotspot formation through self-excitation. We present an efficient l1-penalized EM algorithm for estimating the model that performs feature selection for the spatial covariates of each incident type simultaneously. We provide simulation results using data from the Indianapolis Metropolitan Police Department in order to illustrate the advantages of the modulated Hawkes process model of social harm over various recently introduced social harm indices and property crime Hawkes processes.     

Territorial systems and relocation: Insights from eight cases in Japan

This paper investigates the evolution patterns of eight territorial systems in Japan during the period of industry relocation. Multiple case study methodology was applied. Data were collected through interviews with entrepreneurs and local government officials. Based on the findings that reveal adaptation processes in which manufacturing firms are involved, we propose a three-stage evolutionary model to conceptualize the changes that are taking place in Japan's territorial systems. We argue that the transactional relationships are evolving towards more socialized relationships and that these relationships are evolving towards more formalized, knowledge-based innovation networks.     

Fixed and Random Effects in Stochastic Frontier Models

Received stochastic frontier analyses with panel data have relied on traditional fixed and random effects models. We propose extensions that circumvent two shortcomings of these approaches. The conventional panel data estimators assume that technical or cost inefficiency is time invariant. Second, the fixed and random effects estimators force any time invariant cross unit heterogeneity into the same term that is being used to capture the inefficiency. Inefficiency measures in these models may be picking up heterogeneity in addition to or even instead of inefficiency. A fixed effects model is extended to the stochastic frontier model using results that specifically employ the nonlinear specification. The random effects model is reformulated as a special case of the random parameters model. The techniques are illustrated in applications to the U.S. banking industry and a cross country comparison of the efficiency of health care delivery.JEL classification: C1, C4     

Modeling multivariate extreme events using self-exciting point processes

We propose a model that can capture the typical features of multivariate extreme events observed in financial time series, namely, clustering behaviors in magnitudes and arrival times of multivariate extreme events, and time-varying dependence. The model is developed within the framework of the peaks-over-threshold approach in extreme value theory and relies on a Poisson process with self-exciting intensity. We discuss the properties of the model, treat its estimation, and address testing its goodness-of-fit. The model is applied to the return data of two stock markets.     

Measuring correlations of integrated but not cointegrated variables: A semiparametric approach

Many macroeconomic and financial variables are integrated of order one (or I(1)) processes and are correlated with each other but not necessarily cointegrated. In this paper, we propose to use a semiparametric varying coefficient approach to model/capture such correlations. We propose two consistent estimators to study the dependence relationship among some integrated but not cointegrated time series variables. Simulations are used to examine the finite sample performances of the proposed estimators.     

EFFECTS OF REGIONAL COOPERATION AMONG SMALL AND MEDIUM-SIZED FIRMS ON THEIR GROWTH IN JAPANESE INDUSTRIAL CLUSTERS

We examine the effects of regional inter-firm cooperation on firm growth by estimating the firm growth function, using the data of a questionnaire survey for three major industrial clusters in Japan, namely, Tama, Kinki and Hokkaido. We focus on the specific content of cooperative activities for two aspects: that is, three production stages of R&D, commercialization, and marketing for cooperation and different types of alliance partners. The findings for our study areas demonstrate: i) vertical cooperation, the most prevalent with suppliers and customers, does not contribute to firm growth; ii) the clusters do not enjoy "urbanization economies arising from agglomerating a variety of different industrial sectors"; iii) the alliances with "universities" and "cross-industry exchange organizations" show positive effects on firm growth; and iv) both contributions and limitations are identified for the cluster-promotion policies in Japan.     

一种面向智能变电站和生产管理系统设备在线监测的数据转换模型

在线监测是实现电网设备状态检修和生命周期管理的前提,而有效的设备数据转换模型是在线监测的基础。通过对智能变电站及生产管理系统的标准、规范进行分析,提出一种用于智能变电站和生产管理系统设备在线监测的数据转换模型。对生产管理系统的设备信息数据模型进行分类总结,基于交换用XML数据对生产管理系统和IEC 61850标准数据模型进行对比,对变电站设备的铭牌信息、运行信息以及监测信息采用标签映射与ID索引相结合的方法,实现智能变电站到生产管理系统的数据转换。     

Industry convergence as a strategy for achieving sustainable development of agricultural complex: The case of Sandun‐Lanli in China

The purpose of the paper is to conceptualize and provide empirical evidence for the adoption of industry convergence strategy to sustainably develop the agricultural complex (AC) as a form of multifunctional agriculture in the Chinese context, which aims to achieve environmental sustainability in agricultural production and promotion of farmers' income and employment opportunities. A longitudinal single‐case study method was adopted. Thirty‐six face‐to‐face interviews were carried out with key respondents from various levels and types of government agencies, the Wu‐Sheng Company, and village collectives; participative observations were conducted during the fieldwork between 2016 and 2019. We found sustainability is embedded in and achieved through the industry convergence strategies of AC in the rural area of China. We are the first to formally define AC, propose the four‐stage industry convergence strategies of Wu‐Sheng in the process of developing the AC, and build connection between the AC and sustainable development. The case provides important, rich insights into the AC, industry convergence, and agricultural land use policy and therefore has enormous implications for agricultural companies as well as governments.     

The efficacy and efforts of interest groups in post elections policy formation

This paper presents a new model of interest groups and policy formation in the legislature. In our setting, the already given party ideological predispositions and power distribution determine the expected policy outcome. Our analysis applies to the case of un-enforced or enforced party discipline as well as to two-party and multi-party (proportional representation) electoral systems. The interest groups’ objective is to influence the outcome in their favor by engaging in a contest that determines the final decision in the legislature. Our first result clarifies how the success of an interest group hinges on the dominance of its ideologically closer party and, in general, the coalition/opposition blocks of parties under un-enforced party or coalition/opposition discipline. Such dominance is defined in terms of ideological inclination weighted by power. Our second result clarifies how the success of an interest group hinges on the dominance of its ideology in the ruling coalition (party) in a majoritarian system with enforced coalition (party) discipline. We then clarify under what condition an interest group prefers to direct its lobbying efforts to two parties or the two coalition and opposition blocks of parties under un-enforced discipline rather than to the members of the ruling coalition (party) under enforced discipline. The lobbying efforts under un-enforced and enforced party discipline are also compared. Finally, we clarify the effect of ideological predispositions and power on the efforts of the interest groups.     

Speed of adjustment in cointegrated systems

This paper discusses summary measures for the speed of adjustment in possibly cointegrated Vector Autoregressive Processes (VAR). In particular we propose long-run half-lives, based on interim and total multipliers. We discuss their relation with Granger-noncausality and other types of half-life, which are shown to convey different information, except in the univariate AR(1) case. We present likelihood-based inference on long-run half-lives, regarded as discrete functions of parameters in the VAR model. It is shown how asymptotic confidence regions can be defined. An empirical illustration concerning speed of adjustment to purchasing-power parity is provided.     

Time-varying road network design for urban hazmat transportation

Hazmat transportation in cities faces significant risks that may cause catastrophic losses to humans. From the perspective of the regulator, the main responsibility is to mitigate hazmat transport risk by determining the availability of road networks to hazmat carriers. Based on the time-variant population distribution, the hazmat transport risk was assessed via the total population exposure associated with the resident and variable populations at different times. We propose a risk-minimizing urban hazmat road network design model for multiple types of hazmats, considering time-varying traffic. The model was applied to a realistic case study of hazmat transportation in a densely populated urban area with complex traffic in Shanghai, China.     

Convergence and divergence of role stress experience of locally hired Japanese and non-Japanese host country staff: a qualitative study

This qualitative study examines the role stress (comprising of role ambiguity and role conflict) experienced by locally hired Japanese (LJ) and non-Japanese (NJ) staff in a sample of Japanese companies in Australia. Expatriates were also interviewed to gather information regarding the impact of cross-cultural understanding on role ambiguity and role conflict in their work relationships with LJ and NJ staff. Both LJ staff and NJ local staff experienced two types of role ambiguity, resulting from insufficient English competence and information shortage. NJ staff experienced two additional types of role ambiguity due to their lack of cultural understanding about Japan. LJ staff experienced two types of role conflict which were not experienced by NJ local staff. These were caused by their cultural understanding about Australia, and their Japanese cultural heritage and understanding of the society and organisational processes. This study shows that cultural understanding of one's host country and parent country could reduce role ambiguity. In addition, it was found that cultural understanding of one's host country and parent country results in role conflict. These findings suggest that cultural understanding could have positive and negative consequences on role stress. Theoretical and practical implications in the management of white-collar staff in overseas Japanese companies are discussed.     

Time series copulas for heteroskedastic data

We propose parametric copulas that capture serial dependence in stationary heteroskedastic time series. We suggest copulas for first‐order Markov series, and then extend them to higher orders and multivariate series. We derive the copula of a volatility proxy, based on which we propose new measures of volatility dependence, including co‐movement and spillover in multivariate series. In general, these depend upon the marginal distributions of the series. Using exchange rate returns, we show that the resulting copula models can capture their marginal distributions more accurately than univariate and multivariate generalized autoregressive conditional heteroskedasticity models, and produce more accurate value‐at‐risk forecasts.     

Multivariate dynamic intensity peaks-over-threshold models

We propose a multivariate dynamic intensity peaks-over-threshold model to capture extremes in multivariate return processes. The random occurrence of extremes is modeled by a multivariate dynamic intensity model, while temporal clustering of their size is captured by an autoregressive multiplicative error model. Applying the model to daily returns of three major stock indexes yields strong empirical support for a temporal clustering of both the occurrence and the size of extremes. Backtesting value-at-risk and expected shortfall forecasts shows that the consideration of clustering effects and of feedback between the magnitudes and the intensity of extremes results in better forecasts of risk.     

Efficient predictability of stock return volatility: The role of stock market implied volatility

This study examines the predictability of stock market implied volatility on stock volatility in five developed economies (the US, Japan, Germany, France, and the UK) using monthly volatility data for the period 2000 to 2017. We utilize a simple linear autoregressive model to capture predictive relationships between stock market implied volatility and stock volatility. Our in-sample results show there exists very significant Granger causality from stock market implied volatility to stock volatility. The out-of-sample results also indicate that stock market implied volatility is significantly more powerful for stock volatility than the oil price volatility in five developed economies.     

Time-varying asymmetric volatility spillover between global markets and China’s A,B and H-shares using EGARCH and DCC-EGARCH models

This paper investigates the volatility spillover and dynamic conditional correlation between three types of China’s shares including A, B and H-shares with 12 major emerging and developed markets from 2002 to 2017 using EGARCH and multivariate DCC-EGARCH models. Both models found that Chinese equities are more related with their neighbouring countries such as Singapore, Japan, Australia and ASEAN-5 than with US, Germany and UK. The EGARCH model, with an auxiliary term added to capture the volatility spillover, found no volatility spillover between A-share markets and other advanced and emerging markets during the GFC and extended-crisis periods while this behaviour is not observed for B-share and H-share markets. However, the multivariate DCC model found strong evidence of contagion effect in both return correlations and volatility spillover for all China’s markets. In addition, both models found increased regional and global integration in A-share and B-share markets but not the H-share market. Finally, the results from both models provide clear evidence of distinct behaviours associated with return and volatility spillover in these three share types, suggesting foreign investors should consider the heterogeneity in volatility spillover and return correlations of these Chinese share types when forming investment strategies.     

Challenges of managing the development of breakthrough products in Japan

We propose a contingency model and hypothesize that increases in product innovativeness weaken the influence of product synergies and development proficiencies on product performance. We incorporate these hypotheses in a path model linking measures of product synergy, development proficiency, product competitive advantage, and product performance. We test the model using data from Japan on 412 high-innovativeness projects and 375 low-innovativeness projects. We find that product innovativeness weakens three key relationships that determine new product success: (i) the impact of technical synergy on technical proficiency, (ii) the impact of technical proficiency on product competitive advantage, and (iii) the impact of product competitive advantage on new product success.