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31.
Silvio Städter 《Applied economics letters》2018,25(21):1493-1498
This article analyses the effects of a regulatory cap on executive pay when the agent is loss averse. I use a principal–agent model with moral hazard in which a principal and an agent bargain over an incentive contract. I show that even a non-binding cap on the agent’s payments can have consequences for the bargained outcome and consequently for the effort the agent exerts. 相似文献
32.
The regulating services provided by ecosystems are amongst the most important for the sustainability of resource use, and yet they are also amongst the least understood. This paper considers one set of regulating mechanisms - the buffering functions of wetlands - and considers the information needed to identify both the value of the services offered by wetlands, and their substitutes. Using data from a catchment discharging water and nutrients to the Kenyan segment of Lake Victoria, the Yala catchment, the paper models the interactions between agriculture and fisheries as mediated by wetlands at the lake margin. More particularly, it estimates the value of the forgone nutrient retention function involved in the conversion of the wetland to agriculture, and the scope for providing the same services through land use change elsewhere in the catchment. The total cost of the payments that would compensate farmers for on-farm nutrient buffering services is 3.86 M US$ year− 1, or 35% of the total gains from wetland conversion to crop production. This finding contributes to an understanding of both the value of regulating services and how they might most effectively be delivered in alternative ways. 相似文献
33.
Peter-Jan Engelen Michele Meoli Andrea Signori Silvio Vismara 《Journal of Business Finance & Accounting》2020,47(1-2):188-217
This paper studies the impact of increased securities regulation on the IPOs of small and high-tech, knowledge-intensive firms. We take advantage of the adoption of European SOX-like provisions, staggered at different dates across European countries, to test its influence on the going public decision. Starting from the population of European private firms during 1995–2012, we find that the likelihood of going public has decreased among small and high-tech, knowledge-intensive firms. Consistently, we document a 6% and 8.5% decrease in the industry-adjusted Tobin's Q of small and knowledge-intensive firms that go public after the regulatory change. 相似文献
34.
Lineia Jollembeck Lopes Silvio R. I. Pires 《Business Strategy and the Environment》2020,29(6):2755-2769
The auto industry is experiencing a time of restlessness, which stems from several elements that currently threaten the stability and status quo of its supply chains. Among these elements are autonomous driving, connectivity, electrification, and trip sharing that has led to new forms of mobility. In this context, this article presents the results of a research, which had three main objectives: (1) to identify the green supply chain management (GSCM) practices most commonly implemented in all industrial sectors worldwide, (2) to evaluate how these practices are considered by professionals in the automotive industry and by researchers working on the subject in Brazil, and (3) to identify and evaluate which practices are most widely adopted within these companies and/or supply chains and influence their environmental performance. The research method combined a qualitative research step (Delphi) with another quantitative one (survey). The results show that most of the reality of the automotive industry in Brazil is in line with studies on GSCM practices worldwide, but some specific findings have also been identified and discussed. 相似文献
35.
36.
Emergent complex systems 总被引:2,自引:0,他引:2
Complex systems are becoming the focus of important innovative research and application in many areas, reflecting the progressive displacement of classical physics and the emergence of a new and creative role for mathematics. This article makes a distinction between ordinary and emergent complexity and argues that a full analysis requires dialectical thinking. In so doing the authors aim to provide a philosophical foundation for post-normal science. The exploratory analysis developed here is complementary to those conducted with a more formal, mathematical approach, and begins to articulate what lies on the other side of that somewhat indistinct divide, the conceptual space called emergent complexity. 相似文献
37.
Danny Pimentel Claro Silvio Abrahão Laban Neto Priscila Borin de Oliveira Claro 《Journal of Retailing and Consumer Services》2013,20(3):365-371
Sustainability has become a relevant issue for retailers. We develop an integrated model with three drivers of retailer's investments in sustainability. First, the more their processes, human resources and customer driven capabilities are developed, the more investments in sustainability tend to occur. Second, retailers leverage their relationships with suppliers to invest in sustainability. Third, competition and economic instability may also lead to long run investments in social and environmental. We tested three hypotheses by surveying 101 retailers operating supermarkets, hypermarkets and neighborhood stores that focus mainly on food with a limited offering of general merchandise and apparel. Our results show the importance of customer driven capabilities for investments in sustainability. Communication with the supplier also has an impact on investments, while the process and policies of the supplier relationship do not. Retailers invest in sustainability to coordinate this relationship. Our study sheds light on the drivers for sustainability and offers an understanding of how a retailer may invest further in sustainability. 相似文献
38.
Silvio Luis de Vasconcellos Ivan Lapuente Garrido Ronaldo Couto Parente 《International Business Review》2019,28(3):438-449
We aim to elucidate the roles that organizational creativity plays in the development of firms’ international business competence (IBC). We conducted an investigation grounded in the resource-based view of how this intangible resource supports the development of capabilities and competences. We surveyed 77 Brazilian audiovisual SMEs and analyzed our data using OLS regression analysis. The results partially support the hypothesis that organizational creativity is a building block for IBC but show that its effect is mostly exerted through the mediation of some of the dimensions of innovative and entrepreneurial capabilities. This study has implications both for organizations and public policies, contributing to the debate on how firms stimulate innovation and entrepreneurship and how public agents can leverage SMEs’ internationalization process. 相似文献
39.
Silvio R. Rendon 《Oxford bulletin of economics and statistics》2013,75(3):460-476
This paper proposes a common and tractable framework for analyzing fixed and random effects models, in particular constant‐slope variable‐intercept designs. It is shown that, regardless of whether effects (i) are treated as parameters or as an error term, (ii) are estimated in different stages of a hierarchical model, or whether (iii) correlation between effects and regressors is allowed, when the same prior information on idiosyncratic parameters is introduced into all estimation methods, the resulting common slope estimator is also the same across methods. These results are illustrated using the Grünfeld investment data with different prior distributions. Random effects estimates are shown to be more efficient than fixed effects estimates. This efficiency gain, however, comes at the cost of neglecting information obtained in the computation of the prior unknown variance of idiosyncratic parameters. 相似文献
40.
Silvio Contessi Pierangelo De Pace 《The North American Journal of Economics and Finance》2009,20(2):145-161
We study the cross-section correlations of net, total, and disaggregated capital flows for the major source and recipient European Union countries. We seek evidence of changes in these correlations since the introduction of the euro to understand whether the European Union can be considered a unique entity with regard to its international capital flows. We make use of Ng’s (2006) “uniform spacing” methodology to rank cross-section correlations and to shed light on potential common factors driving international capital flows. We find that a common factor structure is suitable for equity flows disaggregated by sign but not for net and total flows. We only find mixed evidence that correlations between types of flows have changed since the introduction of the euro. 相似文献