Phases of economic development and the transitional dynamics of an innovation-education growth model

This paper extends earlier analysis of the transitional dynamics of a growth model in which both human capital and innovation drive income expansion. Funke and Strulik [2000. On endogenous growth with physical capital, human capital and product variety. European Economic Review 44, 491-515] suggest that the typical advanced economy follows three development phases, characterized in a temporal order by physical capital accumulation, human capital formation, and innovation, and that the transitional dynamics of the model reproduce such a sequencing. I argue that other sequences of the phases of development are possible and show that the model can generate a trajectory in which innovation precedes human capital formation. This trajectory accords with the observation that the rise in formal education followed with a considerable lag the process of industrialization. U.S. income and educational time series data are used to corroborate the innovation-education trajectory.     

Lead time reduction through ICT application in the footwear industry: A case study

This paper analyses some relevant supply chain management issues for Italian firms operating in the footwear industry. The analysis is carried out on representative firms, located in a specialized regional district with a high density of shoe manufacturing companies. Companies were experiencing substantial problems in the management of supplier relationships, as well as in the commercial/distributive channel. Specifically, synchronization issues in the logistics pipeline were weakening firms’ lead time performances.The case study presented strives to highlight the critical points in the set up of the supply chain management programme, as well as the main results obtained. The case study also shows that the adoption of tailored Information and Communication Technology (ICT) tools has the potential to save significant lead time in supplier/buyer relationships. From the case study, generalities can be drawn and transferred to the footwear industry.     

Gender diversity,cash holdings and the role of the institutional environment: empirical evidence in Europe

While substantial evidence is emerging internationally on higher risk aversion among women than among men, there is less evidence on women’s business choices. We explore some of the reasons for the relationship between gender diversity and cash holdings. Specifically, this paper focuses on the choices involving the stock of cash held by firms in which women have executive roles and can consequently exert a crucial influence on the firms themselves. We estimate our proposed empirical models using a dataset of 12,466 observations from 18 European countries. We find a positive relationship between the presence of women with executive roles in the firm and cash holdings. Women tend to make more conservative choices probably because they are more risk averse than men are. This propensity has a relevant impact on the financial choices of firms when women play a leading role. Notably, the study demonstrates that the institutional environment and industry differences moderate our baseline relationship.     

A case-control study on risk factors of domestic accidents in an elderly population

The aim of this study was to evaluate the combined influence of several lifestyle, health and housing factors in the occurrence of home injuries (HIs) among the elderly. The subjects were recruited from 10 hospitals in Rome, Italy. This study is a paired case-control study. Cases included subjects, aged 65-85 years, who visited the Emergency Department for an HI and were subsequently hospitalised (15 September 2004-30 June 2005). Controls were the subjects of the same gender, age (±3 years) and area of residence of cases. A conditional logistic regression model was used for analysing the variables obtained. In this study, we enrolled 107 hospitalised cases. It was found that the living room was the place where 33% of the accidents occurred. Eighty-seven per cent of the accidents were falls, and 33% of the accidents were the immediate consequence of sudden malaise. One-half of the cases reported one or more leg fractures. The variables that were independently associated with HI were poor household illumination, poor emotional status, regular physical activities and housekeeping activities. We conclude that this study shows the areas of intervention to target HI prevention activities.     

Gatekeepers' Perceptions of Thai Geographical Indication Products in Europe

This study is aimed at exploring perceptions of European gatekeepers toward renowned Thai fruit and coffee products protected by geographical indication (GI) and factors influencing purchasing decision of gatekeepers toward imported food products. Sixteen qualitative interviews with distribution channel gatekeepers were administered in Austria, Italy, and Switzerland in 2010. Content analysis and concept mapping were used to analyze data. Results show that Thai GI products might be interesting for European gatekeepers, but the GI attribute alone might not be sufficient to ensure that the product is successful. Support of consistent information and promotion campaigns and fulfillment of other gatekeepers' requirements of both products and suppliers are necessary.     

The Causality Between R&D And Investment

The aim of this paper is to investigate the relationship between R&D expenditure and investment in machinery and equipment in order to test for causality. New growth theory emphasises the role of R&D in creating blueprints needed to produce new capital goods implicitly assuming causality running from R&D to investment. Other recent studies using firm level data have investigated the relationship between innovative activity and investment in fixed capital. In this paper we use aggregate data from the US economy on R&D expenditure in the industrial sector and aggregate investment in machinery and equipment. Standard Granger causality tests, together with the Hsiao version, are then performed, showing that causality runs from R&D to investment. In addition we perform a cointegration analysis allowing a test of possible long-run feedbacks. This dynamic representation shows that any feedback between investment and R&D is only significant in the long run.     

Investment cash flow sensitivity and financial constraint: a cluster analysis approach

This article sheds light on the mixed empirical evidence concerning financial constraint and investment sensitivity to cash flow. The literature suggests that measuring financial constraint is far from straightforward, and we therefore propose a cluster analysis procedure to identify unambiguous groups of constrained firms. We found the investment results to be highly sensitive to cash flow for financial constraint firms. Moreover, in line with previous research, our results showed that the traditional criteria used to identify financially constrained firms led to ambiguous interpretations. Overall, our results propose that the cluster analysis can be used to encompass the various single-criterion approaches, thereby providing a finer measurement of the financial constraint construct and deeper insight into the relationship between investment sensitivity to cash flow and financial constraint.     

Does technological innovation undertaken alone have a real pivotal role? Product and marketing innovation in manufacturing firms

This paper investigates the role of non-technological innovation on firms' innovation propensity and performance. We note that emphasis on technological innovation alone is misleading, as a firm's decision to undertake technological innovation brings about a more complex and general process which may involve new attitudes regarding organization and market orientation. We analyse the relationship between product and marketing innovation in manufacturing, focusing specifically on the food industry. We propose a bivariate probit model in which product and marketing innovation are estimated taking into account their reciprocal interactions. This enables us to provide more efficient and realistic estimates of a firm's probability of introducing either a new or improved product or a new marketing technique. In addition, the proposed model provides the determinants of such probabilities.     

Sensory Experiences and Expectations of Italian and German Organic Consumers

We explore sensory experiences and expectations of Italian and German organic consumers when purchasing and eating organic food. Ten focus group interviews were performed and the results were analyzed using qualitative content analysis. Outcomes indicated that although sensory attributes are not the main purchase drivers, flavor and odor are the most important in driving consumers' choice. Findings also suggested that training consumers' sensory abilities offers new market opportunities to organic marketers. From a marketing perspective, Italian consumers seem to equally appreciate nonsubjective as well as subjective marketing information about organic products, whereas in Germany non subjective aspects appear to be predominant.     

How should Mass attendance be measured? An Italian case study

The validity of measures of Mass attendance has been a matter of controversy for some time in Italy, just as it has in other countries. This study will show that the different survey methods which can be used each have distinct advantages and disadvantages. We will compare the questionnaire and daily diary as measuring devices and try to highlight their main qualities and failings. More specifically, although the large number of up-to-date questionnaire-based surveys carry the benefit of offering a ??richer?? range of information regarding the interviewee??s religious behaviour, they provide data which is excessively approximate on a systematic basis. In comparison, time use studies are less common and much more costly, partly because they usually use a daily diary to record the activities carried out. Although the data they produce is ??scarcer?? in terms of information, it is also much more reliable. Indeed, estimates obtained from comparisons between the two tools highlight significant differences. In addition, synchronic and diachronic comparisons cannot be carried out due to the fact that the distortions introduced by the use of questionnaires are extremely variable over time and depending on the social segments studied (young people/adults, men/women etc.). The conclusion we will draw is that the daily diary is a far more suitable tool for surveying Mass attendance than the questionnaire because of these distortions. Finally, we will show that this conclusion does not depend on the specific survey methods adopted, as comparisons with multination surveys seem to confirm that, at least with regard to Italy, distortion resulting from use of a questionnaire is a general phenomenon.