Environmental Policies

This paper analyses a model in which botheconomic and ecological relationships as wellas all the interactions between the two arefully specified. It compares the short termand the long term effects of shocks inenvironmental policies. It appears that shortrun effects may differ substantially fromlong run effects, with respect to both levelsand growth rates of various variables. Thoughin the short run growth optimists may beright, in the long run there appears to be,under the chosen specification, a trade-offbetween economic growth and environmentalquality.     

Feeling successful as an entrepreneur: a job demands — resources approach

This cross-sectional study among 277 Dutch entrepreneurs investigates how entrepreneurs’ job demands relate to their work-related strain and work engagement, as well as their feelings of subjective success. As such it contributes to the literature firstly by focusing on psychological rather than business outcomes of entrepreneurship, and secondly by contextualizing demands and resources for entrepreneurs, e.g. capturing the general but also the specific factors that are demands and resources in entrepreneurial work. Results of the study show that work-related strain is related to both less personal and less financial subjective business success. Work engagement is related to higher personal, but not financial subjective business success. As predicted by the JD-R Model, both high job demands and low job resources predicted work-related strain. In contrast to findings of other studies, high job demands are not related to low work engagement, only having low job resources did. The practical implication of these findings is that entrepreneurs can achieve an important competitive advantage over other entrepreneurs if they can learn to deal effectively with job demands and work-related strain. The challenge for policy makers is to get more information about how to assist business owners in eliminating and preventing work-related strain in order to achieve higher subjective financial and personal success.     

Antecedents and consequences of tourists’ satisfaction in sport event: Mediating role of destination image

Abstract

In this study, we determined the causal relationship between some of the predictors and outcomes of sports tourists’ satisfaction using structural equation modeling. Motivation and involvement as predictors and behavioral intentions (WOM and intention to revisit) were considered as outcomes. The results indicated the significant mediating role of destination image in the relationship between involvement and satisfaction. So, Event organizers need to pay special attention to the psychological characteristics of tourists, such as their motivations and involvement. As a result, they can take some benefits in behavioral outcomes, such as word of mouths and intention to revisit.     

Understanding the dynamics behind bank branch service quality in Portugal: pursuing a holistic view using fuzzy cognitive mapping

Using fuzzy cognitive mapping, this study aims to create a holistic framework whereby the determinants of bank branch service quality and their cause-and-effect relationships can be identified and dynamically analyzed. The methodology is applied using a group of experts from the banking industry in Portugal. Our results not only indicate the applicability and usefulness of the proposed approach, but identify human resource characteristics (which include collaborators’ personal and professional training) and management team technical skills as particularly relevant driving forces of bank branch service quality. The proposal holds great potential for the operational planning and improvement of bank branch service quality, which is a prime concern for bank administrators, bank branch collaborators, and society at large. Advantages and shortcomings of the framework are also reported.     

The relationship between national saving and domestic investment in economy of Iran

In this paper, the relationship between national savings and domestic investment is examined in order to determine the degree of international capital mobility in Iran＇s economy over the sample period （1959-2007）. To this end, first the savings and investment correlation as postulated by Feldstein and Horioka was revisited using the recently developed bound testing approach （ARDL）. Amongst the key results, was a significant and robust positive association between the ratio of gross domestic investment to gross domestic product and the ratio of national savings to gross domestic product. Next, the coefficient of ECM derived from the ARDL test showed that the speed of adjustment in the estimated models was relatively high and has the expected significant and negative sign. The results indicate that deviation from the long-term path was corrected by approximately 63 percent over the following year. In addition, the savings-investment correlation relationship is examined in terms of an error correction model in order to gain some insight into the degree of capital mobility. The results show that savings and investment are to a great extent co-integrated. In other words, there is a significant long-run relationship between savings and investment in the Iranian economy. Also, the long-run relationship between these variables shows a low degree of capital mobility in Iran, because government policies have had no considerable effect on the savings-investment gap in Iran. The empirical findings suggest that liberalizing both the exchange rate system and interest rates and facilitating capital flow would increase international capital mobility.     

Exchange rate pass-through under inflation targeting in transition economies

This paper assesses whether the exchange rate pass-through in transition economies changed due to inflation targeting and the ongoing crisis. The economies of Central and South Eastern Europe and the Commonwealth of Independent States, of which nine are inflation targeters, are examined over the period 1993–2011. Results suggest that the exchange rate pass-through in transition economies is generally quite high. However, inflation targeters achieved a pass-through that was nearly four times lower and maintained it during the crisis due to their acquired monetary credibility. On the other hand, for non-inflation targeters, the pass-through increased during the crisis, likely due to temporary exchange rate shocks being perceived by agents as permanent.     

Small Business Owners' Success Criteria,a Values Approach to Personal Differences

This study of 150 Dutch small business owners, identified through business/network directories, investigated relationships between owners' understanding of success and their personal values. Business owners ranked 10 success criteria. Personal satisfaction, profitability, and satisfied stakeholders ranked highest. Multidimensional scaling techniques revealed two dimensions underlying the rank order of success criteria: person‐oriented (personal satisfaction versus business growth) and business‐oriented (profitability versus contributing back to society). Furthermore, business growth, profitability, and innovativeness were guided by self‐enhancing value orientations (power and achievement). Softer success criteria, such as having satisfied stakeholders and a good work–life balance, were guided by self‐transcendent value orientations (benevolence and universalism).     

Entrepreneurs’ achieved success: developing a multi-faceted measure

Firm performance is typically measured via objective financial indicators. However, researchers increasingly acknowledge that entrepreneurs do not measure their success solely in financial terms but that a range of often subjective indicators matter to them. This article contributes to the debate on entrepreneurial performance by studying how entrepreneurs assess their achieved success. ‘Entrepreneurs’ achieved success’ was conceptualized as a multi-faceted construct that includes entrepreneurs’ self-reported achievement of firm performance, workplace relationships, personal fulfilment, community impact, and personal financial rewards. It was measured via the Subjective Entrepreneurial Success–Achievement Scale (SES-AS). Over the course of three studies (N?=?390) the factorial structure of ‘entrepreneurs’ achieved success’ was established and largely replicated in two cultures. Based on a nomological network, we documented relationships among ‘entrepreneurs’ achieved success’, quasi-objective indicators of firm performance, and entrepreneurs’ financial satisfaction, creativity, and health. Based on our research, we propose a new conceptual framework to study performance in the context of entrepreneurship. This framework acknowledges both the success criteria that entrepreneurs wish to achieve and those that they actually achieve, and extends our understanding of firm performance.

     

Impacts of CO2-Taxes in an Economy with Niche Markets and Learning-by-Doing

In this paper, we analyse the impact of carbon taxes on emission levels, when niche markets exist for new carbon-free technologies, and when these technologies experience ``learning-by-doing' effects. For this purpose, a general equilibrium model has been developed, DEMETER, that specifies two energy technologies: one based on fossil fuels and one on a composite of carbon-free technologies. Initially, the carbon-free technology has relatively high production costs, but niche markets ensure positive demand. Learning-by-doing decreases production costs, which increases the market share, which in turn accelerates learning-by-doing, and so forth. This mechanism allows a relatively modest carbon tax, of about 50 US$/tC, to almost stabilise carbon emissions at their 2000 levels throughout the entire 21st century. Sensitivity analysis shows that the required carbon tax for emission stabilisation crucially depends on the elasticity of substitution between the fossil-fuel and carbon-free technology.(part of the research was performed when the author was Science Fellow at CISAC, Center for International Security and Cooperation, Stanford University, Stanford, California, USA)     

A competitive growth of a small midle-income country in the eurozone is far to be assured

The dichotomy of the increasing diversity of eurozone member countries and the institutional “one-size-fits-all” setting has exposed the deficiencies of the institutional economic architecture of the eurozone in the financial and economic crisis of 2008–2010. It has particularly exposed the weaknesses of middle-income countries within this framework. Greece, Ireland, and Portugal are experiencing outright financial crises. This article’s thesis is that small middle-income countries (MICs) in the eurozone face two general macroeconomic problems: (1) there is inherent macroeconomic instability; and (2) there is a problem of “competitiveness and convergence.” Small MICs’ ability to grow and catch up is demand-based and largely export-driven. Price competitiveness is an important factor of competitive growth within the eurozone. A national fiscal policy is crucial to countries’ ability to form and implement national policies for economic stability and competitive growth, which would enable a durable, above-average growth rate. Calls for a fiscal union along with the monetary union may therefore backfire.