Crowdfunding and social influence: an empirical investigation

The literature so far provides no in-depth investigation of the determinants of decisions to contribute to crowdfunding platforms. The present article draws on work measuring the decisions and prosocial behaviours of individuals in relation to public goods, and uses survey data on crowdfunding behaviour. We surveyed an original sample of individuals in France to explore individual decisions and amounts of funding chosen to support a creative project. We show that in non-equity crowdfunding contributing money is associated with altruism. Our findings suggest that the ‘warm glow’ effect influences the level of the contribution; we show also those monetary incentives could ‘crowd out’ the decisions to contribute of crowdfunders. Our study has some implications for business strategy since understanding why people contribute adds to our knowledge about the incentives that might encourage them to increase their contributions, and allows predictions about how changes to how crowdfunding platforms are managed might affect individual incentives to give.     

‘Give me a chance!’ An experiment in social decision under risk

This paper reports the results of a ‘probabilistic dictator game’ experiment in which subjects were given an option to share chances to win a prize with a dummy player. Using a within-subject design we manipulated two aspects of the decision, the relative cost of sharing and the nature of the lottery: the draws were either independent for the two players (‘noncompetitive’ condition) or one’s success meant other’s failure (‘competitive’ condition). We also asked for decisions in a standard, non-probabilistic, setting. The main results can be summarized as follows: first, a substantial fraction of subjects do share chances to win, also in the competitive treatments, thus showing concern for the other player that cannot be explained by outcome-based models. Second, subjects share less in the competitive treatment than in other treatments, indicating that procedural fairness alone cannot explain the data. Overall, these results suggest that models aiming at generalizing social concerns to risky environments will have to rely on a mix of distributive and procedural fairness.     

Are innovation and R&D the only sources of firms’ knowledge that increase productivity? An empirical investigation of French manufacturing firms

The economic literature presents knowledge accumulation as one of the most important characteristics of innovation. The accumulation of knowledge arises from complex and dynamic interactions between a firm??s own internal capacity and external expertise. Research and development (R&D) remains important in the innovation process, but it must be integrated with knowledge from other sources, such as training and knowledge capitalization. This paper investigates the relationship between such knowledge sources and the productivity of French firms. Using asymptotic least squares, a Cobb-Douglas function including R&D, innovation, training expenditure and ISO 9000 certification is estimated for 1,213 French manufacturing firms. Our results show that innovation, training and ISO 9000 certification have a positive and significant impact on firms?? productivity.     

Selecting Board Members: The Impact of Common Knowledge on Gender Diversity – An Experimental Investigation

Using a corporate governance experiment, we explore the role of common knowledge of diversity on board members' selection. Our results show that common knowledge of diversity impacts significantly and negatively the proportion of women selected on boards and in a higher proportion in sectors perceived as ‘masculine’. We also bring evidence of an order effect that makes the selection of men on boards likelier for the first chosen members. This bias is stronger for male decision makers. This article provides implications and directions for future research for the understanding of decision making involved in the selection process for board members. Copyright © 2016 John Wiley & Sons, Ltd.     

Evaluating the Impact of a Working Time Regulation on Capital Operating Time: The French 35‐hour Work Week Experience

In this article, we evaluate the impact of diminishing weekly working hours on capital operating time using the French 35‐hour working week experience. We merge the French survey on Capital Operating Time (COT, Banque de France, Central Bank of France; 1989–2004) and administrative Working Time Reduction agreements files (WTR, DARES, French Ministry of Labour; May 2003). We construct shift‐work‐based capital operating time indicators. Using differences‐in‐differences econometric models, we show that the implementation of the 35‐hour work week did not induce any reduction in COT. Hence, firms increased shift‐work to compensate for the decrease in working hours.     

Toward a Typology of University Spin-offs

This paper discusses existing definitions of USOs in order to reconcile them and to provide criteria for classifying and understanding the different facets of this multi-headed concept. Drawing the boundaries of this concept and elucidating its variety through a typology are therefore the two main objectives of this paper. USOs are defined as new firms created to exploit commercially some knowledge, technology or research results developed within a university. The proposed typology is based on two key discriminatory factors, namely (1) the status of individuals involved in the new business venturing process (researchers or students) and (2) the nature of knowledge transferred from university to the new venture (codified or tacit), inducing the nature of the USO activities (product or service-oriented).     

The Tariff-Only Import Regime for Bananas in the European Union: Impacts on ACP and Non-ACP Suppliers

The European Union is bound by World Trade Organisation agreements to move to a tariff-only import regime for bananas no later than 1 January 2006. What should change at that date is the trade regime, not the level of protection offered to African, Caribbean and Pacific (ACP) countries. This article provides an assessment of the trade impact of this tariff-only regime on the basis of simulations carried out with a dynamic partial equilibrium model of the world banana market using 2002–03 as the base year. Simulation results show that the tariff levied on imports from non-ACP countries should be set at around €250 per tonne in order to maintain in 2008 the EU import structure that prevailed in 2003. A lower tariff would increase EU total imports, to the benefit of non-ACP countries and to the detriment of the group of ACP countries. Conversely, a higher tariff would decrease EU imports from non-ACP countries and increase imports from ACP suppliers. Under this assumption, the increase in ACP exports to the EU would mainly benefit the two West African suppliers, Cameroon and Ivory Coast, who are more competitive and have a more price elastic supply than the ACP suppliers of the Caribbean islands.     

Imperfect information and the business cycle

Imperfect information has played a prominent role in modern business cycle theory. This paper assesses its importance by estimating the new Keynesian (NK) model under alternative informational assumptions. One version focuses on confusion between temporary and persistent disturbances. Another, on unobserved variation in the inflation target of the Central Bank. A third on persistent mis-perceptions of the state of the economy (measurement error). And a fourth assumes perfect information (the standard NK-DSGE version). Imperfect information is found to contain considerable explanatory power for business fluctuations. Signal extraction seems to provide a conceptually satisfactory, empirically plausible and quantitatively important business cycle mechanism.     

CAP Reform: Prospects for crop markets in the Enlarged EU: Reform der GAP: Aussichten für die Märkten von Feldfrüchten in der erweiterten EU: La rëforme de la PAC: I'avenir des marchés agricoles dans I'Europe élargie

CAP Reform: Prospects for crop markets in the Enlarged EU Agricultural Policy Modelling in the EU has become more complicated due to the recent CAP reform and EU Enlargement. Under the AGMEMOD (Agricultural Member States Modelling) Partnership, teams of economists with specialist knowledge of agriculture in their own countries have come together to build the AGMEMOD model. The model can be used to analyse the impact of policy reform at a country level in EU member states and at an aggregate EU level. The model covers a wide variety of agricultural commodities, but this article focuses specifically on the impact of the policy reform on the cereals sector. Results are presented for the EU15 in aggregate, the New Member States (NMS), Bulgaria and Romania. The implication of EU Enlargement is also examined for the accession countries. For the EU15, results suggest that there would be a modest reduction in grain production and a slightly larger reduction in oilseeds production by 2010, as a response to the decoupling of cereal payments. Results for the NMS suggest that their accession will bring some modest growth in grains production by 2010, This result is not greatly different from that which might have been achieved had these countries remained outside the EU. The recent reforms limit the extent to which the CAP stimulates increased production in the NMS. La réforme de la PAC: l'avenir des marches agricoles dans l'Europe élargie Avec l'elargissement et la recente reforme de la PAC, modeliser la politique agricole europeenne devient de plus en plus difficile. C'est pour cela que plusieurs Cquipes d'kconomistes ‐ chacune selectionnee sur la base de ses connaissances accumulees sur l'agriculture de son propre pays ‐ se sont associees pour construire le modele AGMEMOD, dans le cadre du partenariat MAEM (Modelisation Agricole des Etats Membres). Ce modkle est utilisable pour analyser l'impact des reformes de la politique agricole, tant au niveau de l'Europe entiere qu'i celui de chacun des Etats membres. Il couvre une vaste variete de produits agricoles, mme si le present article met I'accent sur les cereales. k s resultats sont prksentes pour les agrigats ‘Europe a 15’, ‘NMS’ (nouveaux ktats membres), Bulgarie et Roumanie. On examine aussi, ici, les implications de I'elargissement de I'Union pour les nouveaux membres. Pour 1'Europe a 15, a la suite du dkcouplage des aides cerealieres, les resultats conduisent i envisager a I'horizon 2010 une modeste reduction de la production de cereales et une reduction un peu plus forte de la production dolkagineux. Dans le mCme temps, les NMS devraient connaitre un faible accroissement de leur production de cereales. Ceci n'est pas fondamentalement different de ce qui serait arrive si ces pays etaient restes en dehors de 1'Europe. Dans les NMS, les reformes recentes ont pour effet de brider les accroissements de production auxquels I'application de la PAC aurait permis de s'attendre. Reform der GAP: Aussichten für die Märkte von Feldfruchten in der erweiterten EU Die Modellierung von Agrarpolitiken in der EU gestaltet sich auf Grund der kurzlich durchgefiihrten Reform der GAP und der EU‐Erweiterung zunehmend schwieriger. Im Rahmen der AGMEMOD (Agricultural Member States Modelling, Agrarmodellierung von Mitgliedstaaten)‐Partnerschaft haben sich Okonomen zusammengefunden, die im Hinblick auf die Landwirtschaft in ihren Heimatlandern uber Fachkenntnisse verfiigen, um das AGMEMOD‐Modell zu erarbeiten. Mit Hilfe dieses Modells konnen die Auswirkungen der Politikreformen sowohl auf Ebene der EU‐Mitgliedstaaten als auch auf aggregierter EU‐Ebene analysiert werden. Das Modell deckt eine groRe Anzahl von landwirtschaftlichen Produkten ab; dieser Artikel behandelt jedoch insbesondere die Auswirkungen der Politikreformen auf dem Getreidesektor. Die Ergebnisse werden fiir die aggregierte EU‐15, die neuen Mitgliedstaaten (NMS) sowie fiir Bulgarien und Rumanien dargestellt. Die Auswirkungen der ELI‐Erweiterung werden ebenfalls ftir die Beitrittslander untersucht. Im Fall der EU‐15 zeigen die Ergebnisse einen geingen Ruckgang bei der Getreideproduktion und einen etwas hoheren Ruckgang bei der Olsaatenproduktion bis zum Jahr 2010 als Folge der Entkopplung der Getreidezahlungen. Die Ergebnisse fiir die NMS deuten darauf hin, dass sich ein geringes Wachstum der Getreideproduktion bis zum Jahr 2010 ergeben wird. Dieses Ergebnis unterscheidet sich nicht wesentlich von einem Szenarium, in welchem diese Lander der EU nicht beigetreten waren. Die kurzlich durchgefiihrten Reformen begrenzen die produktionssteigernde Wirkung der GAP in den NMS.     

Entrepreneurial Opportunities of Refugees in Germany,France, and Ireland: Multiple Embeddedness Framework

International Entrepreneurship and Management Journal - Recently, the entrepreneurial potential of refugees has received growing attention from scholars and policymakers. However, the literature on...