Does China change the game?

Business Economics - It is vastly overdone to suggest that China changes the game. The challenges posed by the Chinese economy will not disappear because the U.S. puts pressure on them. The swing...     

The education–suicide mortality gradient

Using the fifth release of the National Longitudinal Mortality Survey, I examine the role of educational attainment and self-reported health on 6- and 11-year suicide mortality risk in the United States. I first replicate the original results reported by Hamermesh and Soss. . Then, augmenting the Hamermesh model with initial educational attainment and self-reported health status, I find that years of education significantly raises suicide mortality risk in the US after controlling for initial self-reported health. This result is robust to regression specification, replication and the inclusion of covariates.     

The Individual Aspect of Interorganizational Cooperation: Favor-Based Cooperation

ABSTRACT

Purpose

Interorganizational (IO) cooperation has been examined primarily as a role-based concept. This research seeks to extend this concept by examining a distinct mode of IO cooperation: favor-based cooperation. This concept refers to voluntary exchanges of preferential treatments between boundary personnel across organizations that are perceived as going beyond the requirements of their role relationships.     

The sources of momentum in international government bond returns

This study aims to offer a new explanation for the momentum effect in international government bonds. Using cross-sectional and time-series tests, we examine a sample of bonds from 22 countries for the years 1980 through 2018. We document significant momentum profits that are not attributable to bond-specific risk factors, such as volatility or credit risk. The global bond momentum is driven by the returns on underlying foreign exchange rates. Controlling for currency movements fully explains the abnormal returns on momentum strategies in international government bonds. The results are robust to many considerations including alternative sorting periods, portfolio construction methods, as well as subperiod and subsample analysis.     

Advertising archetypes’ impact on physician engagement and behavior in the context of healthcare products

The pharmaceutical industry spends billions annually on marketing to physicians (over $4.3 billion in 2014). The industry as a whole has a lot of experience in determining what to say to physicians, but it is less confident when it comes to how to say it—sometimes leading to advertising that does not engage, thereby costing sales. In an effort to define a set of rule‐based guidelines for effective pharma branding, the study adapts the primary Jungian archetypes to develop the first collection of archetypal tones of voice for healthcare products. The study here demonstrates, via a series of fuzzy‐set qualitative comparative analyses that well executed ads following an archetype consistently connect with physician audiences, while nonarchetypal healthcare ads demonstrate an inconsistent performance. Such an analysis would traditionally take the form of null hypothesis significance testing (NHST), but NHST provides substantially less insights than algorithm modeling and the use of fuzzy‐set qualitative comparative analysis as this study describes.     

Enhancing financial performance by pharmacy innovation

Antecedents and consequences of customer orientation have been the subject of significant empirical investigation. Although several studies have explored employee variables as antecedents to customer orientation, work ethic has received little research attention. Additionally, there have been incongruent findings related to the effect of customer orientation on performance, as some have found it to be direct or indirect via innovation. This study explores overall work ethic as an antecedent to customer orientation and innovativeness as the missing link between customer orientation and performance among Canadian retail pharmacies. The results show support for the influence of work ethic on customer orientation, and the role of innovation as a mediating variable. This study advances the understanding of work ethic, customer orientation, innovation, and performance in Canadian retail pharmacy.     

Déjà Vu: The Effect of Executives and Directors with Prior Banking Crisis Experience on Bank Outcomes around the Global Financial Crisis

We investigate the effect of executives and directors with prior banking crisis experience on bank outcomes around the global financial crisis (GFC). Executives and directors with previous experience leading banks through a bank crisis may have been uniquely able to understand the risks, recognize the warnings signs early, and thus respond more effectively to the GFC. Controlling for other executive, director, and bank‐level characteristics, we examine whether bank performance, risk taking, and accounting quality in the period immediately before and during the GFC are affected by having executives or directors who previously served as bank executives or directors during the 1980s/1990s banking crisis (80s/90s crisis). Overall, we find that banks led by these crisis‐experienced executives and directors exhibit stronger performance, lower risk taking, and higher accounting quality in the period around the GFC. These effects are strongest among bank leaders for whom the 80s/90s crisis was most salient. Results are robust to propensity‐matched samples and other analyses performed to rule out alternative explanations. Our results suggest these individuals were able to learn from prior crisis experience.     

COMPARISONS OF PURCHASING POWER, REAL OUTPUT AND LABOUR PRODUCTIVITY IN MANUFACTURING IN JAPAN, SOUTH KOREA AND THE U.S.A., 1975–85

This study presents binary comparisons of real output and labour productivity in manufacturing in Japan, South Korea and the U.S.A. in 1975, made according to an "industry of origin approach." The 1975 benchmark comparisons have been updated to 1985. Value added per hour worked in Japanese manufacturing increased from 54 percent of the U.S. level in 1975 to 76 percent in 1985. In certain important branches such as electrical machinery, metal products and machinery and transport equipment, productivity leadership shifted to Japan. In South Korea, labour productivity in manufacturing increased rapidly from 1975 to 1985, both in absolute terms and relative to the U.S.A. Nevertheless, in 1985 value added per hour worked was only 14 percent of the U.S. level.     

Technological change and input-output analysis: An appraisal

There is an extensive literature on technological change (TC) pertaining to input-output (I-O) analysis, that offers the potential to significantly extend the range of applications of this valuable tool. This paper classifies and analyzes the major types of TC. It summarizes some established methods for estimating TC, expands on methods not well developed, and shows how some methods not typically identified with I-O are useful. In addition, the methods are critically evaluated and their appropriateness to various subcategories of TC assessed.Two major conclusions are drawn. First, that input-output does not deserve much of the criticism it receives for being a rigid tool of analysis, insensitive to price changes, policy regulations and innovation. Second, given the availability of numerous approaches to incorporating TC into I-O models, researchers no longer have a legitimate excuse for assuming away TC or using crude modification methods.