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1.
Bruno Brandão Fischer Sérgio Queiroz Nicholas S. Vonortas 《Entrepreneurship & Regional Development》2018,30(5-6):612-638
This article empirically appraises the geographical distribution of knowledge-intensive entrepreneurship (KIE) in the settings of an emerging economy. We start from the typical agglomeration approach and then introduce a set of variables related to local market conditions, distance from the economic hub, and knowledge & innovation system to explain KIE location and density on the basis of city-level data in the State of São Paulo, Brazil. Findings indicate KIE concentration in and around a few urban areas, providing support to agglomeration economies concepts. There is strong evidence that the local presence of research-oriented universities, access to capital, and business concentration are correlated to KIE emergence and density. Results also indicate the moderating effect of agglomeration diseconomies mainly related to factors of rapid and anarchic expansion of urban centers and the consequences of extreme inequalities in income distribution. This challenges the usability of concepts of entrepreneurial ecosystems from advanced economies if not adapted to the realities of developing countries. 相似文献
2.
Angelos Kanas 《Journal of Economics and Finance》2009,33(2):111-127
Using a rich data set for the UK for over a century, we find that the relation between the equity risk premium and the government
bond maturity premium is nonlinear and subject to stochastic regime switching. We identify a regime in which both premia are
jointly characterized by low volatility and another regime in which both premia are characterized by high volatility. The
occurrence of the high volatility regime chronologically coincides with major changes in the pound exchange rate. The low
volatility regime has a higher probability of turning up over two consecutive years than the high volatility regime, but it
is not perceived by investors to be an absorbing regime. The lagged maturity premium is a strong predictor of the equity risk
premium only in the regime of low volatility. In addition, the lagged equity premium is a predictor of the maturity premium
also in the low volatility regime. This result on regime-dependent bidirectional predictability is robust to alternative definitions
of the equity premium, and to the inclusion of real interest rate and real growth effects.
相似文献
Angelos KanasEmail: |
3.
《The Quarterly Review of Economics and Finance》2004,44(2):237-252
Several empirical studies show that a substantial fraction of the changes in growth rates of real activity can be explained by lagged aggregate stock return variations in the U.S. as well as in other G-7 countries from the 1950s to the 1990s. However, the results presented in Binswanger.[International Review of Economics and Finance 9 (2000) 387] indicate that this traditionally strong relation has disappeared in the U.S. in the early 1980s. This paper shows that a similar breakdown occurred in Canada, Japan and in an aggregate economy consisting of the four European G-7 countries. The results provide evidence in favor of the hypothesis that speculative bubbles during the 1980s and 1990s were an international phenomenon. 相似文献
4.
This paper sums up in a common analytical structure the main results, scattered in economic literature, concerning the linearity
between rate of profit and real wage in a simple Sraffa’s model. The paper is mainly based on previous results of one of the
two authors and on results of Miyao (Int Econ Rev 18:151–162, 1977) and Schefold (Zeitschrift für angewandte Mathematik und Physik 27:873–875, 1976a; Zeitschrift für National?konomie 36:21–48, 1976b). 相似文献
5.
This paper analyzes the hypothesis that returns play a risk-compensating role in the market for corporate revolving lines of credit. Specifically, we test whether borrower risk and the expected return on these debt instruments are positively related. Our main findings support this prediction, in contrast to the only previous work that examined this problem two decades ago. Nevertheless, we find evidence of mispricing regarding the risk of deteriorating firms using their facilities more intensively and during the subprime crisis. 相似文献
6.
In some publications the mean is identified with the constant of a Box–Jenkins time series model. In this paper the relation between both terms is demonstrated. Furthermore, by means of an example, the errors which may be made if one does not use each term adequately are shown. 相似文献
7.
《The Quarterly Review of Economics and Finance》2002,42(5):901-909
The passage of the Riegle–Neal Interstate Banking and Branching Efficiency Act (IBBEA) of 1994 allowed bank holding companies to acquire banks in any state after September 30, 1995. We examine the impact of the legislation on the performance of the banking industry by comparing performance measures of banks with their pre-IBBEA levels. We find that the performance improved in the post-IBBEA period but when controlled for general economic conditions and interest rate movements, the impact of IBBEA on bank performance appears insignificant. 相似文献
8.
While most of the literature starting with Shapley and Scarf (1974) have considered a static exchange economy with indivisibilities, this paper studies the dynamics of such an economy. We find that both the dynamics generated by competitive equilibrium and the one generated by the weak dominance relation, converge to a set of allocations we define as strictly stable, which we can show to exist. Moreover, we show that even when only pairwise exchanges between two traders are allowed, the strictly stable allocations are attained eventually if traders are sufficiently farsighted. 相似文献
9.
The Beveridge–Nelson (BN) decomposition is a model-based method for decomposing time series into permanent and transitory components. When constructed from an ARIMA model, it is closely related to decompositions based on unobserved components (UC) models with random walk trends and covariance stationary cycles. The decomposition when extended to I(2) models can also be related to non-model-based signal extraction filters such as the HP filter. We show that the BN decomposition provides information on the correlation between the permanent and transitory shocks in a certain class of UC models. The correlation between components is known to determine the smoothed estimates of components from UC models. The BN decomposition can also be used to evaluate the efficacy of alternative methods. We also demonstrate, contrary to popular belief, that the BN decomposition can produce smooth cycles if the reduced form forecasting model is appropriately specified. 相似文献
10.
This paper assesses Malaysia’s competition landscape and its risk implications subsequent to conventional banking consolidation and Islamic banking penetration in the aftermath of the 1997/1998 Asian financial crisis. Employing a panel sample of conventional and Islamic commercial banks, it arrives at the following conclusions. First, the consolidation exercise, which has led to a significant reduction in the number of domestic commercial banks, has not stifled banking competition. Second, the paper provides empirical support for the competition-stability relationship, particularly for the conventional banking sector. Islamic banking sector risk appears to be neutral to market competition or market power, although there is limited evidence that it increases with overall market concentration. Finally, the analysis uncovers the risk-increasing effect of the Islamic banking market structure on the conventional banking sector. By contrast, conventional banking market concentration tends to reduce the credit risk of Islamic banks. 相似文献
11.
Who Gets on the News? The relation between media biases and different actors in news reporting on complex policy processes 总被引:1,自引:0,他引:1
Iris Korthagen 《Public Management Review》2013,15(5):617-642
AbstractHaving a voice in media is important to gain power and legitimacy in policy processes. However, media are biased in transmitting information. Using a quantitative content analysis of ten years’ news reporting around water management policies in the Netherlands, we study how much media attention different groups of actors receive and how media biases relate to this attention. Executive politicians get on the news because of their authoritative position; less authoritative actors getting on the news is more related to information biases. Information biases can thus function as a form of checks and balances in news reporting on policy processes. 相似文献
12.
Aminu Mamman Khamis Zayid Al Kulaiby 《International Journal of Human Resource Management》2013,24(20):2811-2836
This study set out to explore whether Ulrich's model is useful in understanding HR roles in non-western developing countries such as Oman. The study surveyed a random sample of 780 HR practitioners, line managers and employees from public and private sector organizations. In addition 12 HR practitioners and managers were interviewed to supplement the data collected from the survey. The findings indicate that HR practitioners in Oman perform all the roles. However, ‘strategic partner’ is the least performed role. The findings also indicate that HR practitioners in the private sector are more likely to perform all the five roles to a greater extent than their counterparts in the public sector. We also found partial support for our proposition that HR practitioners in the public sector would play more ‘operational’ roles (e.g. employee advocate or functional expert) than ‘strategic’ roles (i.e. strategic partner or HR leader). The study revealed that Ulrich's model is robust enough to help in the understanding of HR roles in a non-western, developing country context. The findings are discussed within the context of institutional and cultural frameworks. The paper argues for more research to improve the understanding of how socio-economic and cultural factors influence HR roles and how they are performed. 相似文献
13.
Less is More,or Not? On the Interplay between Bundles of Slack Resources,Firm Performance and Firm Survival
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Although a significant body of research has investigated the independent effects of distinct types of slack resources, current theoretical and empirical work does not sufficiently clarify how bundles of slack resources affect firm outcomes. Drawing on the resource constraints literature and the slack literature, we investigate how distinct bundles of financial and human resource slack influence firm performance and survival. Using a sample of 4715 European information and communication technology firms, we show that neither parallel resource abundance (having slack in financial and human resources) nor parallel resource constraints (lacking slack in financial and human resources) are optimal for firm performance and survival. However, firms with selective constraints that combine slack in financial resources with constraints in human resources exhibit superior performance without decreased survival prospects. Taken together, this study extends current research by providing a more nuanced view of the relationships between slack resources, firm performance, and firm survival. 相似文献
14.
Startup entrepreneurship is – in the literature, in the discourse of those engaging in it, and in cultural representations of the same – presented both as resistance against prevailing corporate logics and as a path towards becoming a corporate entity. Resistance, claimed or otherwise, is not just a reaction to a perceived outrage or a power imbalance, but is in itself a constitutive part of contemporary entrepreneurship, particularly as this is culturally constructed. We study this paradox, where a discourse of resistance becomes a productive part of entrepreneurial culture, by way of a case study of a successful startup. We analyze the manner in which people working in the startup utilize ‘doublethink’ to portray the organization both as resistance to an assumed, more corporate, ‘Other’ and also as a budding corporation unto itself. By doing so, we highlight how a discourse of resistance works as a value in entrepreneurship culture as well as a productive element of the same. In our case, resistance and corporate conformity come together in a way that defies easy classification; one where notions of resistance exist as easy-to-adopt identity positions and where doublethink becomes a productive way of dealing with corporate success. 相似文献
15.
Justin L. Davis R. Greg Bell G. Tyge Payne 《International Journal of Nonprofit & Voluntary Sector Marketing》2010,15(4):352-368
- Taking a strategic choice perspective, the current study examines leader tenure and the growth implications of pursuing a market penetration versus market development strategy in a church setting. Using cross-sectional time series regression analyses of 1415 church organizations over a period of 6 years, study findings demonstrate the influence of leader tenure on both financial and non-financial church performance, but provide minimal evidence supporting the argument that the selected market strategy matters to organizational performance outcomes in churches.
16.
Özlem Yorulmaz 《Quality and Quantity》2016,50(3):1233-1244
This paper considers the relationship between healthcare expenditure (HCE) and gross domestic product using Baltagi and Li (Ann Econ Financ 3:103–116, 2002) semiparametric fixed effects regression estimator in a sample of 16 MENA countries over the 1995–2012 period. Findings indicate that income elasticity is not consistent but varies with income level and healthcare is a necessity for the non-oil rich countries (non-GCC) whereas it is an inferior good for the wealthiest countries in MENA; Qatar, United Arab Emirates (UAE) and Kuwait. Furthermore, it is found that the infant mortality rate per 1000 live births has a negative effect on per capita HCE in non-GCC countries and the proportion of the population age 65 and above is statistically significant in Bahrain, Oman and Saudi Arabia. 相似文献
17.
Ji Li 《International Journal of Human Resource Management》2013,24(10):1689-1706
This paper presents a study that examines the use of human resource management (HRM) practices and factors influencing the adoption of HRM practices in small and medium-sized enterprises (SMEs). Using a multiple-case study method, HRM in SMEs was explored by comparing 12 small and medium-sized and 12 large semiconductor design firms. The findings show that there is considerable homogeneity across the firms in relation to their use of human resources (HR) practices providing support for the insights based on the new institutionalism. The factors leading to the homogeneity HRM are discussed. It is argued that theory-based empirical research on HRM in SMEs within the same industry enable us move towards a systematic understanding and explanation of HRM in SMEs. 相似文献
18.
Pulling in different directions? Exploring the relationship between vertical pay dispersion and high‐performance work systems
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Vertical pay dispersion (VPD), a hierarchical pay structure used to motivate employees, has traditionally been studied separately from high‐performance work systems (HPWSs). As a component of HPWSs, incentive‐based compensation schemes focus on employee‐ or team‐level incentives. However, the influence of the simultaneous utilization of VPD and HPWS on performance remains understudied. This study addresses the question of whether these approaches to managing human capital serve as complements or substitutes to one another. VPD and HPWS are argued to substitute for one another with respect to motivation‐ and skill‐enhancing practices. The opposite notion is true in regard to opportunity‐enhancing HPWSs, which serve to amplify the effectiveness of VPD. In a multisource, longitudinal sample of South Korean firms, the hypothesized predictions are supported. 相似文献
19.
Sangun Park 《Metrika》2014,77(5):609-616
The representation of the entropy in terms of the hazard function and its extensions have been studied by many authors including Teitler et al. (IEEE Trans Reliab 35:391–395, 1986). In this paper, we consider a representation of the Kullback–Leibler information of the first \(r\) order statistics in terms of the relative risk (Park and Shin in Statistics, 2012), the ratio of hazard functions, and extend it to the progressively Type II censored data. Then we study the change in Kullback–Leibler information of the first \(r\) order statistics according to \(r\) and discuss its relation with Fisher information in order statistics. 相似文献
20.
N. R. Vasudeva Murthy 《Journal of Economics and Finance》2009,33(2):176-188
In this paper, the recently developed panel unit root and the Pedroni cointegration tests are applied to empirically examine
the validity of the Feldstein–Horioka puzzle (F–H puzzle) for a heterogeneous panel of 14 Latin American and five Caribbean
countries over the period, 1960–2002. The findings indicate that in these countries, the long-run solvency condition is maintained.
Finally, employing the Pedroni panel group FM-OLS estimator (2000, 2001), it is found that the statistically significant estimated
savings-retention coefficient for the panel is relatively small indicating that the F–H Puzzle is not valid and thus implying
the prevalence of a moderate degree of capital mobility.
相似文献
N. R. Vasudeva MurthyEmail: |