Excess Burden of Taxation and Environmental Policy Mix with a Consumer‐Friendly Firm

This study examines the environmental policy mix of tradable emission permits and emission taxes in a duopoly model with a consumer‐friendly firm. We analyse the interplay of the two policies and the welfare consequences in the presence of excess burden of taxation. We show that an emission tax can be redundant when both the excess burden of taxation and the degree of consumer friendliness are insignificant. However, when the excess burden of taxation is significant, tradable permits policy with tax treatment should be applied to enhance welfare in the presence of a consumer‐friendly firm. Finally, under the tax revenue‐neutral case where the excess burden of taxation does not matter, the environmental policy mix is also efficient if the degree of consumer friendliness is sufficiently high.     

Nascent Entrepreneurs' Motivations in European Economies: A Gender Approach Using GEM Data

ABSTRACT

Entrepreneurship is becoming an important source of employment for women in many countries. There are different circumstances and motives that contribute to the decision to start a business. In this study, we developed a model that can estimate the probability of individuals becoming nascent entrepreneurs by opportunity or necessity. The model considers individuals' sociodemographic characteristics and European economies' perceived characteristics as oriented towards efficiency or innovation. Statistical logistic regression was used to test the model. The results show statistically significant differences between genders, European economies oriented either to efficiency or innovation, and entrepreneurs who are born out of opportunity or necessity.     

The Risk-Return Relationship of Pension Funds With Investments in Hedge Funds

This article investigates if investing in local hedge funds improves the risk-return relationship of Brazilian pension funds. Investment in hedge funds by pension funds is growing elsewhere, with an increasing utilization of a multiplicity of hedge funds specialized in specific strategies or niches. We analyzed the performance of a typical pension fund allocation in Brazil as well as alternate allocations that included hedge funds. We used robust estimates of the covariance matrix to mitigate the errors in variables that are problematic in the inputs of the optimization. The results show that hedge funds improve the risk-return relationship of the typical pension fund allocation, contribute to a higher accumulated return at the end of a one-year period, and reduce portfolio rebalancing. Investments in hedge funds ease reaching the typical 6% annual return target with less risk exposure.     

Foreign Direct Investment and Trade: A Study on Selected Brazilian Industries

This study aims to investigate whether foreign direct investment (FDI) growth improved the Brazilian foreign trade in the long run and whether there is a predictable relationship between a firm's FDI strategy and a firm's foreign trade. We applied moderated multiple regressions and generalized linear models to test the effects of FDI on both export and import equations of 11 Brazilian industries from 1996 to 2009. Our data sources include the Ministry of Development, Industry and Foreign Trade Ministry, Central Bank of Brazil, and the Applied Research Institute. Results showed that FDI is correlated with increased exports in the short run, but not in the long run. In the long run, the positive relationship between FDI and exports will only occur for export-oriented industries in which resource-seeking strategies are preponderant. We found a positive relationship between imports and FDI in the short run, particularly in import-oriented industries. A negative relationship between FDI and imports was found in the long run.     

Tests of technical trading strategies in the emerging equity markets of Latin America and Asia

This study examines the potential profit of ten Variable Length Moving Average (VMA) technical trading rules in ten emerging equity markets in Latin America and Asia from January 1982 through April 1995. The average difference in buy − sell returns after trading costs for each rule and country are compared to a buy and hold strategy. Taiwan, Thailand and Mexico emerge as markets where technical trading strategies may be profitable. We find no strong evidence of profitability for the other markets. However, we find that 82 out of the 100 country–trading rule combinations tested in ten emerging markets, disregarding their statistical significance, correctly predict the direction of changes in the return series. These findings may provide investors with important asset allocation information.     

Play it again: how game-based learning improves flow in Accounting and Marketing education

ABSTRACT

Flow theory is used in this article [Csikszentmihalyi, M. (1990). The domain of creativity ] to determine whether gamified resources, named Accountingame and Marketingame, possess certain characteristics which, in the form of educational games, increase the performance of Portuguese undergraduate students attending Accounting (N?=?816) and Marketing (N?=?195) curricular units for the first time. A structural equation model was used to look into the direct effects of the characteristics of the game, such as Concentration, Clarity, Feedback, Challenge, Autonomy, Social Interaction, and Perceived Learning, on students’ learning Flow. Results clearly show that, with the exception of Feedback, all the other dimensions were Flow predictors. Overall, by introducing games into the curriculum, students’ motivation and interest increased and demonstrates that games can be an effective way for students to learn.     

An overview of corporate social responsibility in Greece: perceptions,developments and barriers to overcome

The objective of this paper is to provide an overview of corporate social responsibility (CSR) in Greece and present the challenges that need to be met in order to further promote socially responsible business behaviour in the domestic economy. This is the first attempt to provide a systematic analysis of CSR in Greece and adds to the existing pool of knowledge of CSR embeddedness in countries where CSR awareness is still rather low, a literature field that is still quite limited. Drawing from prior literature, the paper is built around three basic questions in relation to the Greek context: how is CSR perceived by Greek business professionals? How is CSR practised in Greece? And which issues evident in the modern domestic environment act as underlying barriers to the broader dissemination of CSR in Greece? The extant empirical work suggests that, while CSR in Greece appears to be developing, there is still scope for improvement and further diffusion of relevant practices. While some of the patterns shaping CSR in Greece have been analysed, much work still remains to be carried out in extending and deepening our knowledge in this part of Europe.     

The psychosocial and financial impact of non-severe hypoglycemic events on people with diabetes: two international surveys

Objectives:

To understand the impact of nocturnal and daytime non-severe hypoglycemic events on healthcare systems, work productivity and quality of life in people with type 1 or type 2 diabetes.

Methods:

People with diabetes who experienced a non-severe hypoglycemic event in the 4 weeks prior to the survey were eligible to participate in a nocturnal and/or daytime hypoglycemia survey. Surveys were conducted in Argentina, Australia, Brazil, Israel, Mexico and South Africa.

Results:

In total, 300 respondents were included in nocturnal/daytime hypoglycemia surveys (50/participating country/survey). All respondents with type 1 diabetes and 68%/62% (nocturnal/daytime) with type 2 diabetes were on insulin treatment. After an event, 25%/30% (nocturnal/daytime) of respondents decreased their insulin dose and 39%/36% (nocturnal/daytime) contacted a healthcare professional. In the week after an event, respondents performed an average of 5.6/6.4 (nocturnal/daytime) additional blood glucose tests. Almost half of the respondents (44%) reported that the event had a high impact on the quality of their sleep. Among nocturnal survey respondents working for pay, 29% went to work late, 16% left work early and 12% reported missing one or more full work days due to the surveyed event. In addition, 50%/39% (nocturnal/daytime) indicated that the event had a high impact on their fear of future hypoglycemia.

Conclusions:

The findings suggest that nocturnal and daytime non-severe hypoglycemic events have a large financial and psychosocial impact. Diabetes management that minimizes hypoglycemia while maintaining good glycemic control may positively impact upon the psychological wellbeing of people with diabetes, as well as reducing healthcare costs and increasing work productivity.