How terrorism affects the economic performance? The case of Pakistan

We examine application of the Economics of Crime Monitoring Model (ECM-Model) Ruiz Estrada and Ndoma (J Policy Model 36:867–882, 2014) on Pakistan terrorism activities. The application of ECM-Model is used to evaluate the impact of terrorism on the economic performance of Pakistan economy. First part of the research work is related to introduction and background of study. The second section is associated with the theoretical and conceptual frame work that explains how terrorism affects the economy. The third part of the paper describes the methodology of the model. The fourth part of this research paper elaborates the results of the study. The second last part of the paper is the econometrics techniques and results which support the model and last part of the research work is conclusion and recommendations.     

Adopting better corporate governance: Evidence from cross-border mergers

Cross-border mergers allow firms to alter the level of protection they provide to their investors, because target firms usually import the corporate governance system of the acquiring company by law. Therefore, cross-border mergers provide a natural experiment to analyze the effects of changes in corporate governance on firm value, and on an industry as a whole. We construct measures of the change in investor protection induced by cross-border mergers in a sample of 7330 ‘national industry years’ (spanning 39 industries in 41 countries in the period 1990–2001. We find that the Tobin's Q of an industry — including its unmerged firms — increases when firms within that industry are acquired by foreign firms coming from countries with better shareholder protection and better accounting standards. We present evidence that the transfer of corporate governance practices through cross-border mergers is Pareto improving. Firms that can adopt better practices willingly do so, and the market assigns more value to better protection.     

EMU and Trade Revisited: Long‐Run Evidence Using Gravity Equations

In this paper, we present evidence of the long‐run effect of the euro on trade for the twelve initial EMU countries for the period 1967–2008 from a double perspective. First, we pool all the bilateral combinations of trade flows among the EMU countries in a panel cointegration gravity specification. Second, we estimate a gravity equation for each of the EMU members vis‐à‐vis the other eleven partners. We apply panel cointegration techniques based on factor models that account for cross‐dependence and structural breaks. Whereas the joint gravity equation provides evidence on the aggregate effect of the euro on intra‐European trade, by isolating the individual countries, we assess which of the member countries have obtained a larger benefit from the euro. The results show that the euro has had a positive though small effect on trade. Belgium and Luxembourg, France and Italy are the countries more benefited from the introduction of the euro. The effects for exports to third countries are in general more moderate, and, with the exception of Greece, there is no evidence of diversion effects.     

BORN AGAIN: GLOBALIZATION'S SIXTEENTH CENTURY ORIGINS (ASIAN/GLOBAL VERUS EUROPEAN DYNAMICS)

Abstract.   Globalization began when all heavily populated land masses began interacting – both directly and indirectly via other land masses – in a sustained manner with deep consequences for all interacting regions. Globalization emerged during the sixteenth century. Dynamism emanating from within China played a pivotal role. Valid hypotheses concerning globalization's emergence must accommodate evidence from numerous disciplinary debates. Discussion of globalization's birth in terms of economic issues alone – for example, O'Rourke and Williamson's price convergence of the 1820s – is doomed. The central role of economic history – including Chinese economic history – becomes salient when arguments are formulated in the context of a multidisciplinary, global historical narrative.     

The effect of new technologies on psychological consequences and risk perceptions of sales agents

The development of new technologies has had important effects on offline distribution channels and, specially, on the psychological effect and risk perceptions that the existence of the online channel may have on the sales agents. Sales agents are fearful that Internet-based competitors will cannibalize their roles in the organization, and might make them outdated and feel insecure about their jobs. This paper estimates the impact of sales agents’ perceptions of service cannibalization on role ambiguity, risk job uncertainty, employee commitment, and employee productivity, considering development of Internet channel, and multi-channel distribution. Data were collected from 497 sales agents who worked at travel agencies located in Spain. Once the model was specified and identified, its parameters were estimated, and authors used various statistics and indices to evaluate overall adaptation of the model. A structural equation modeling was used to examine the posited relationships. This research reinforces the importance of capturing sales agents’s perceptions, especially concerning job insecurity and other outcomes. Specifically, results suggest sales agents’ perceptions of service cannibalization have an effect on role ambiguity and risk and job uncertainty. This study considers the importance of analyzing perceptions of sales agents by travel agency managers to reduce negative consequences on employees, particularly important in view of multi-channel marketing, when a new marketing channel coexists with a traditional sales force.     

Assessing people-driven factors for circular economy practices in small and medium-sized enterprise supply chains: Business strategies and environmental perspectives

Globalisation and technological advancements have increased the pressure on small businesses to increase their productivity and to gain competitive advantages. That pressure has been placed on the resources available, resulting in increased environmental degradation as a result of the traditional linear model of make-use-dispose. Circular economy (CE) practices offer the opportunity for sustainable production based on the reuse-remanufacture and recycling of resources for small and medium-sized enterprises (SMEs) to increase their sustainability, resulting in enhanced performance levels in terms of business strategies and environmental perspectives. But in academic literature, the role of people-driven factors (PDFs) in the adoption of CE practices in the supply chains (SCs) of SMEs is limited. Therefore, to fill this literature gap, this research looks at analysing PDFs for the implementation of CE in the SMEs in developing countries in two phases. PDFs are identified from an extensive literature review; a DEMATEL technique is then employed to understand the significant influence of each factor in the adoption of CE practices in SCs by dividing them into cause–effect groups. The findings show that PDFs such as training and knowledge sharing, employee participation, leadership and management plus strategic alignment are considered to be the most important significant factors in the adoption. The findings of this study will help industrial managers to understand the significance of the role of PDFs for enhancing business strategies; these findings can reduce the negative environmental impact in the adoption of CE practices in the SCs of SMEs.     

Design for the environment: An ontology-based knowledge management model for green product development

Through appropriate operations and policies, such as green processes and product development process (PDP), companies can respond to environmental sustainability. To remain competitive, one such approach, Design for X (DFX), involves considering different environment and sustainable strategies through different factors Xs. With regard to the availability of different DFX techniques that consider environmental issues, the decision as to which approach needs to be adopted remains absent. This paper aims at presenting an overview from 1980 to 2020 of the developed research, applications, and DFX techniques for assessing green issues. Selected DFX techniques are linked with strategies used in organizations. Following a literature analysis, a collaborative knowledge-based framework that addresses the design concepts needed to assess environmental, safety, and health concerns in the development of green products is proposed. Furthermore, as a pillar for considering the Semantic Web and an evolving approach linked with natural language processing (NLP) and artificial intelligence (AI), an ontology-based knowledge management model for green assessment is developed for the representation, acquisition, organization, and capitalization of knowledge in a computer interpretable manner. The findings are useful for both managers and practitioners as they provide a coherent domain ontology that can help them manage knowledge, improve teamwork, and make decisions in a collaborative green PDP. Besides, an understanding of the essential design considerations that are required to implement environmental, safety, and health issues, as well as competencies used in the PDP is presented. Key barriers, managerial and strategic implications, and mitigation actions are also identified in this paper.     

The influence of the media on the history of business success

All the main indicators related to entrepreneurship have increased since 2011 (Global Entrepreneurship Monitor 2018, 2019). The positive perception of this phenomenon was boosted by the socio-economic situation and by a specific agent of the entrepreneurial ecosystem: the economic specialized media. The aim of this study is to demonstrate that the economic media has given their readers an excessively positive discourse, linked to success and to the lack of analysis of the entrepreneurial phenomenon. The sample is defined in terms of a linguistic corpus comprising content related to entrepreneurship drawn from the digital editions of the three most important Spanish economic newspapers for the period 2010 to 2018. A systematic standardize assignment of categories to the contents and an analysis of the relationships between those categories has been carried out (Riffe et al. 2019). These categories are ‘number of contents’, ‘information treatment’, ‘percentage of success stories’, ‘percentage of content analysis’ and ‘sources’. The results reveal a clear intention of the media to offer an overly optimistic perception of the entrepreneurial phenomenon considering the survival rate of the projects mentioned. There is evidence for a selection of information linked to success, a lack of follow-up of the stories and a poor preparation by the media, which lacks specialized journalists and, above all, replicates agency contents. This study provides empirical evidence that helps to identify the optimistic perception imposed by the media for the entrepreneurial phenomenon. This perception, together with other relevant facts, contribute to the creation of an ‘information bubble’ (Cervantes-Zacarés 2019) during the period under study.