Global impact of loss of confidence in Asian emerging markets

With the interest rate hike in the US and, more recently, in the UK, sudden stops in investments and capital reversals are apparent in the Asian emerging economies. A modelling approach is taken, using the G-Cubed model, to simulate the potential global economic impacts, with a focus on Asia. The results demonstrate that myopic fiscal interventions in Asian emerging economies could result in short-term stimulus, at the expense of long-term growth. The stimulus in advanced economies too would be short-lived, diverting the benefits to unintended fractions in the global economy. Advanced economies that minimally change their trade and investment patterns tend to avoid distortionary impacts of the crisis.     

General intelligence and emotional intelligence in senior management in the distribution sector: An applied analysis with synthetic indicators

This study investigates the importance of General Intelligence (GI) and Emotional Intelligence (EI) to leadership skills among a sample of managers. It presents a methodology based on constructing two synthetic indicators that aggregate and measure the different components of EI and GI. The relationship between the two indicators and a one-dimensional indicator that measures leadership capacity is then studied. This methodology is applied to data taken from questionnaires sent to hierarchical superiors in a leading international company in the distribution sector. The results of the study conducted on a sample of managers show that the intensity and direction of the effect of GI and EI on leadership capacity are similar, positive and significant in both cases.     

Social sustainability in the food value chain: what is and how to adopt an integrative approach?

Quality & Quantity - Despite sustainability is a trending topic in the literature, the analysis of the social dimension in the food industry is almost neglected due to its complexity and the...     

How Important Are Scale Effects for Growth When Knowledge Is a Public Good?

In this paper, by proposing an R&D accumulation law for an economy with an expanding number of firms, I seek to reconcile the following three facts: the positive relationship between the fraction of income allocated to R&D expenditure and growth; the positive relationship between the number of firms and total factor productivity growth; and knowledge as a non‐rival and non‐excludable good. There are scale effects because of the public nature of knowledge, but the economy also grows in the absence of population growth. I find that population growth explains one‐fifth of market income growth but only one‐sixteenth of efficient income growth.     

Risk aversion,innovation and performance in family firms

An analysis of the effect of family governance on the relationships among risk aversion, innovation and performance is the purpose of this study. Beyond the level of risk and innovation, we are interested in analysing the relationship between them and their influence on performance in family firms. Traditionally, risk-seeking has been associated with innovation and performance. Our results confirm both components to be independent and, furthermore, show relationships with opposite signs as expected in the literature. In a sample of 500 firms, the results confirm an idiosyncratic behaviour in family firms; innovation contributes to performance to a higher extent in family firms, and at the same time, risk aversion is positively associated with performance only in non-family firms.     

Celso Furtado and the Myth of Economic Development: Rethinking Development from Exile

ABSTRACT

This article introduces two previously unpublished working papers by the Brazilian economist Celso Furtado (1920–2004). Following a brief outline of his life and ideas, the arguments in the two papers are examined, taking into account their context and place in Furtado’s evolving body of work. These two papers represent a crucial turning point in Furtado’s thinking, highlighting his critical perspective on (under)development and laying the basis for four books that he would publish in rapid sequence. We stress Furtado’s growing scepticism with the prospects for international development and global convergence, and his attempt to reimagine the meaning of development and the potential paths to development by peripheral countries. Furtado’s approach to global capitalism in these two papers shed an even more critical light on its structure and evolution than his better-known works from the 1950s. Finally, the contemporary relevance of his ideas is illustrated by reference to their relationship with the current heterodox literature.     

Correction to: A multi-country,multi-sector replication challenge to the validity of the cultural tightness-looseness measure

Asia Pacific Journal of Management - The original version of this article unfortunately contained mistakes. Appendix heading was misplaced and first entry of the Appendix table was incorrectly...     

Renegotiation in Public–Private Partnerships: An Incentive Mechanism Approach

Game theory is an important analytical tool for measuring problems caused by behaviors that deviate from contractual ethics. However, the PPP literature still does little to explore this research topic. This paper analyzes and improves the equilibrium conditions of a renegotiation model of PPPs by introducing the asymmetry of information in the contract. To achieve this goal, the Mechanism Design Theory is used to demonstrate how the correct tracking of the investor directly influences the payoffs of the renegotiation. The study concludes that the lack of incentive constraints in the bidding document, as an ex ante condition, does not provide sufficient information on investor management capability. In this way, this information is only revealed in the renegotiation phase. Consequently, this contract failure results in high political costs to the government due to excessive subsidies.     

The influence of entrepreneurial talent and website type on business performance by rural tourism establishments in Spain

Entrepreneurs provide the engine of development, especially in economically unstable times. In Spain, rural tourism is undergoing a boom, and the Internet plays a vital role for tourism. This study therefore considers: (i) the importance of entrepreneurial talent for implementing a website; (ii) the relations among entrepreneurial talent, website characteristics and business performance; and (iii) the moderating effect of entrepreneurial experience. Using a sample of 150 rural tourism establishments in Spain, this study reveals how website content affects performance and how experience moderates the relationships between entrepreneurial talent and performance, and between entrepreneurial talent and website design. Copyright © 2010 John Wiley & Sons, Ltd.     

Taiwan's international tourism: a time series analysis with calendar effects and joint outlier adjustments

In this paper, we examine monthly tourist arrivals from Japan, Hong Kong and the USA between January 1971 and December 2008. Our purpose is to find events or variables that affect Taiwan's international tourism. We find that the Chinese New Year has a positive effect on tourist arrivals from Hong Kong, but negative effects for other countries. Through outlier detection, we obtain a better understanding of the effects of non‐recurring events that have impacted Taiwan's international tourism. Using transfer function model with automatic outlier detection and adjustment, we find that the exchange rate influences tourist arrivals from Japan and Hong Kong. Copyright © 2010 John Wiley & Sons, Ltd.