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11.
This article extends the existing research on logistics customer service‐loyalty relationships to the online logistics supply chain environment by examining potential website determinants of logistics customer service quality. A structural equation analysis of 373 online shopping transactions suggests that perceived quality of all logistics customer service activities (perceived cycle time, in‐stock availability, and customer responsiveness) varies inversely with: (1) perceived ease of use, and (2) content vividness of the website; and positively with product information content. However, only retailer customer responsiveness assessment was found to have any significant influence on consumer intended loyalty behavior in Internet‐enabled supplies chains. 相似文献
12.
Abstract. Central banks frequently intervene in foreign exchange markets to reduce volatility or to correct misalignments. Such operations may be successful if they drive away destabilizing speculators. However, the speculators do not simply vanish but may reappear on other foreign exchange markets. Using a model in which traders are able to switch between foreign exchange markets, we demonstrate that while a central bank indeed has several means at hand to stabilize a specific market, the variability of the other markets depends on how the interventions are implemented. 相似文献
13.
While traditional finance theory holds that managers with option-laden incentive contracts may favor equity at the expense of debt, a risk-averse manager may be more likely to retain vested in-the-money options if the manager has private information that the firm's risk-adjusted performance will be better. It follows that vested option holdings should be positively associated with credit quality. In support of this, we find that vested option holdings have a strong negative association with loan pricing, especially for informationally sensitive loans, and also predict higher cash flows and credit ratings, a greater distance to default, and lower equity volatility. 相似文献
14.
Quality & Quantity - Economists recognize that the local availability of higher human capital represents significant knowledge spillovers, especially for innovation process. This research... 相似文献
15.
Laura Raisa Miloş Benaissa Chidmi Marius Cristian Miloş 《Applied economics letters》2019,26(16):1369-1372
Although many industries have benefited from advances in data-driven technology, education is making small steps in capitalizing on the huge potential of data systems. Since 2005, the U.S. Federal Government has been making large grants to help states build statewide longitudinal data systems (SLDS) with the goal of improving programme and teacher evaluation and engage in data-driven decision-making. We analyse whether the introduction of SLDSs improved student performance, measured using test scores for math and reading tests for 4th and 8th graders, as well as high school graduation rates. We find no effects of SLDSs on student performance up to 10 years from implementation. However, we find suggestive evidence that these systems may have long-run effects, emphasizing the long-run nature of educational data collection and policy analysis. 相似文献
16.
By employing a Granger causality methodology in a panel data framework, this article explores the relationship among efficiency, capitalization and credit risk within the local Italian banking system. Focusing the attention on cooperative banks, we specifically test whether managers take more risks in highly concentrated markets (i.e. monopoly) than in partially competitive markets (i.e. duopoly). The evidence shows that in more concentrated markets, management efficiency generates a decrease in risk-taking (rejecting the bad management hypothesis) with respect to the partially competitive markets. Results are consistent with the idea that banks with less local competition are able to increase their profits by indulging more freely in rent-seeking behaviour, minimizing their risk-taking and, consequently, improving the quality of their assets through additional screening processes. The financial crisis does not seem to affect the conduct of management in terms of bank investment decisions and risk-taking. A series of robustness tests generally confirms our findings. 相似文献
17.
According to empirical studies, speculators place significant orders in commodity markets and may cause bubbles and crashes. This paper develops a cobweb-like commodity market model that takes into account the behavior of technical and fundamental speculators. We show that interactions between consumers, producers and heterogeneous speculators may produce price dynamics which mimics the cyclical price motion of actual commodity markets, i.e., irregular switches between bullish and bearish price developments. Moreover, we find that the impact of speculators on price dynamics is non-trivial: depending on the market structure, speculative transactions may either be beneficial or harmful for market stability. 相似文献
18.
Giorgio Mion Cristian Rolando Loza Adaui Angelo Bonfanti 《Business Strategy and the Environment》2021,30(4):2160-2172
In 2015, Italy introduced a new legal form—“benefit corporation” (società benefit)—that provides legal status to companies that have one or more common benefit objectives in addition to the profit-seeking goal. Italian benefit corporations are obligated by law to operate in a responsible, sustainable, and transparent way and to include the interests of different stakeholders in their corporate strategy. This study examines the Italian case by applying textual statistical analysis on benefit corporations' public mission statements using the IRaMuTeQ software. Performing hierarchical cluster analysis and correspondence factor analysis identifies the “benefit” concept emerging from the mission statements in terms of promotion of individual skills, development of a new business model, and service to society. This study contributes to the debate on the content of mission statements by giving empirical evidence about this new form of business, and it provides some practical implications for managers, entrepreneurs, and policymakers. 相似文献
19.
This article examines the driving factors of the effective corporate tax rate (ECTR) for a sample of companies listed on five Eastern European stock exchanges (Romania, Hungary, Poland, Bulgaria, and Slovenia), covering the period 2000–2016. The empirical research covers variables regarding firm characteristics (e.g., profitability, efficiency of assets, indebtedness, liquidity, and solvency), firm-level controls, auditing fees, and the statutory rate. The estimated panel data models provide support for a positive link between the ECTR and profitability, debt, capital and inventory intensity, firm size, and statutory rate, strengthening the validity of political cost theory. Further, the negative link between market capitalization and assets growth supports the idea of political power theory. 相似文献
20.
Cristian Pardo 《Review of Financial Economics》2013,22(4):158-168
This paper examines the combined effect of asymmetric information and private entrepreneurial risk aversion on investment decisions. The standard optimal debt contract becomes modified by the introduction of insurance and a risk premium that entrepreneurs demand due to the uncertainty of their investment returns: the private equity premium. In general equilibrium, the private equity premium may become a mechanism that magnifies the effects of shocks. A structural estimation of the model's parameters using Chilean and U.S. data shows that the entrepreneurial risk aversion assumption has more empirical relevance in an economy where smaller privately-held businesses are relatively more prevalent than where the corporate sector predominates, like the U.S. 相似文献