Estimating the Optimal Scale of Public Investments: The Case of Low-Level Radioactive Waste Disposal Facilities

This paper addresses the regulatory problem of estimating the optimal scale of public capital investments, such as regional low-level radioactive waste (LLRW) disposal facilities and sports stadiums, when regulators can require information disclosures from firms. I evaluate the efficacy of the Illinois LLRW mandatory forecast disclosure rule against an estimated ARIMA model of LLRW volume disposed over the 1985–1995 period; the ARIMA model is shown to be more accurate. I conclude with an ARIMA model forecast of lifecycle volumetric capacity of a proposed LLRW disposal facility in Illinois.     

INNOVATION MANAGEMENT IN THE GERMAN TRANSPORTATION INDUSTRY

This article develops a conceptual framework for innovation management in logistics service providers, taking both a macro‐sectoral and a micro‐firm level perspective. Empirical data pertaining to the German transportation industry is applied in order to illustrate the current situation. In the analysis, the author distinguishes between various types of innovation: (1) product/service and process innovation, (2) market novelties, product‐range novelties and product imitations, and (3) ad hoc and planned innovation. The results indicate that despite the importance of innovation for the competitiveness of logistics service providers, innovation activities of firms in this industry and the share of innovators are at a low level compared to other industries. Only 30% of the LSP's are innovators. LSP innovation rests less on structured innovation, new product development and new product commercialization processes, instead, becomes often visible in form of technological advanced infrastructure and equipment investments. It is recommended that in the future LSP's should make more use of one or all forms of innovation activity discussed in this article.     

New Austrian macro theory: A call for inquiry

This essay sketches some contours of what we think can reasonably be called New Austrian macro theory. By New Austrian, macro we mean a style of theorizing that incorporates the core of traditional or Old Austrian macro and pushes that core in new directions by using new analytical tools and methods. We would note that New Austrian is not some invention or construction de novo, but is a product of blending some traditional Austrian insights and formulations with new analytical formulations that were never part of the Austrian tradition but which can multiply the analytical oomph of that tradition. In this essay, we explain that the traditional Austrian macro theory suffers not from analytical wrong-headedness but from an underdevelopment of those complementary pieces of intellectual capital that would render Austrian macro once again a significant player in the efforts of economists to theorize about the properties of economic systems in their entirety.     

Expanding Servicescape Dimensions with Safety: An Exploratory Study

This exploratory research allows participant responses to drive the development of key servicescape dimensions and to determine whether a safety-related dimension surfaces from the data. The study context is a pair of nested servicescapes, a university campus and its surrounding town. The investigation reveals three themes which are consistent with past research: ambient conditions, physical spaces, and social interactions. However, a fourth theme of safety elements routinely emerged in both servicescapes. This theme constitutes a dimension of the servicescape that has largely been ignored in the literature. The effect of one servicescape on another adds to the nascent ecosystem literature.     

Women Entrepreneurs and Family Firm Heterogeneity: Evidence from an Emerging Economy

Family firms add to the economic and social well-being of countries. While research on heterogeneity of family firms is gaining momentum, it has mostly been gender-neutral. The study fills this gap by examining heterogeneity of family firms owned and managed by women, in the context of a developing country—Brazil. The study draws upon the resource-based view of the firm to investigate the relationships between firm performance, family involvement, and financial resources at the start-up phase. An inductive analysis reveals two patterns. First, family firms that are started with the family achieve better performance than firms that are launched without the family and later evolve into a family business. Second, family firms that are funded with women entrepreneur’s own savings achieve worse performance than family firms that are started with borrowed funds. The results are useful for strategic decision making in fostering family businesses headed by women and proactive public policies for future innovation to enhance the success of women entrepreneurs.     

The Effects of Ethical Codes on Ethical Perceptions of Actions Toward Stakeholders

As a result of numerous, highly publicized, ethical breaches, firms and their agents are under ongoing scrutiny. In an attempt to improve both their image and their ethical performance, some firms have adopted ethical codes of conduct. Past research investigating the effects of ethical codes of conduct on behavior and ethical attitudes has yielded mixed results. In this study, we again take up the question of the effect of ethical codes on ethical attitudes and find strong evidence to suggest that business professionals employed at firms with ethical codes of conduct are significantly less accepting of ethically questionable behavior toward most stakeholders. One notable exception relates to ethical actions toward customers.     

Regionalökonomik: Konvergierende oder divergierende Regionalentwicklungen?

In der Wachstumstheorie wird die These vertreten, dass es langfristig eine Angleichung der Einkommen unterschiedlich wohlhabender Regionen gibt. Wie ist diese These zu beurteilen? Sollte die Politik eingreifen, um den Ausgleich zu beschleunigen? Wie wirkt sich die Schrumpfung der Bev?lkerung auf die regionale Entwicklung aus? Welche Entwicklungen spielen für die zukünftige Regional?konomik eine Rolle? Prof. Dr. Adolf Wagner, 68, ist emeritiert und war Direktor des Instituts für Empirische Wirtschaftsforschung an der Universit?t Leipzig. * Stark gekürzte Fassung eines Vortrags vor dem Ausschuss für Evolutorische ?konomik des Vereins für Socialpolitik am 5. Juli 2007 in Münster.