Global Warming and Endogenous Technological Change: Revisiting the Green Paradox

One of the most pressing policy challenges facing the world today concerns how to mitigate global warming while improving people’s well-being. The green paradox argues that increasing taxes on CO₂ emissions exacerbates global warming in the present because firms have the incentive to bring forward the extraction and sale of fossil fuels. This paper shows that whenever technological progress allows the extraction costs of fossil fuels to be reduced over time and a positive R&D subsidy is paid, a growing tax on CO₂ emissions reveals a welfare maximizing policy.     

Internet start-ups access to the bank loan market: evidence from Italy

The analysis of the bank sector's ability to efficiently fuel the birth of new Italian business ventures in Internet-related services is studied. In particular, through the specification and the estimate of a series of econometric models, this paper aims at investigating which characteristics of a large sample of Internet start-ups and their relative founders facilitate access to the loan market. More precisely, the role played by founders’ human capital as a possible significant signal used by banks to evaluate investment projects is addressed. Estimation results suggest that highly qualified human resources possessed by Internet founders do not represent an important driver for gaining access to bank credit and they do not affect the amount of the incurred debt.     

Monetary values of freight transport quality attributes: A sample of Tanzanian firms

This paper presents the findings of a stated preference research conducted in Tanzania (East Africa). The objective of the survey was to determine the relative importance as well as monetary values attached to freight transport quality attribute by shippers in this region. In-depth interviews with the logistic managers of companies that produce and ship goods were conducted. The freight transport quality attributes considered in this survey were flexibility, frequency, loss and damage, reliability, and transit time. The monetary values of these attributes have been computed as willingness to pay for their improvement as well as willingness to accept compensation for a decrease in their quality. The results show that shippers in this region consider travel time, loss and damage and frequency as the most important quality attributes. This may have relevant implications for the infrastructural transport policies to be implemented in the country.     

Teaching Business Ethics Through Popular Feature Films: An Experiential Approach

Based on our experience in teaching ethics, we have developed, tested, and presented in this article a program of instruction that rests on four pillars: popular feature films, a six-stage ethical decision-making process, the principles necessary to address ethical situations, and the classroom instructor. Taken separately, there is nothing new or unique in these pillars. Taken together, however, and to our knowledge, these four pillars, including the requirement that each student is expected to prepare a written abstract of the film prior to the classroom discussion of that film in which the student is expected to demonstrate a practical application of ethical principles to actual and concrete moral situations, constitute a new, unique, and tested way to teach ethics to undergraduate students of management and economics.     

Speed of adjustment in cointegrated systems

This paper discusses summary measures for the speed of adjustment in possibly cointegrated Vector Autoregressive Processes (VAR). In particular we propose long-run half-lives, based on interim and total multipliers. We discuss their relation with Granger-noncausality and other types of half-life, which are shown to convey different information, except in the univariate AR(1) case. We present likelihood-based inference on long-run half-lives, regarded as discrete functions of parameters in the VAR model. It is shown how asymptotic confidence regions can be defined. An empirical illustration concerning speed of adjustment to purchasing-power parity is provided.     

A model for R&D performance measurement

R&D activities are increasingly costly and risky and, as a consequence, measuring their performance and contribution to value becomes critical. This paper illustrates a formal model for measuring R&D performance, based upon a balanced and synthetic evaluation of quantitative indicators from five different perspectives of performance: financial, customer, innovation and learning, internal business, alliances, and networks. The model is built in coherence with the suggestions coming from the theory of measurement in soft systems, which gives relevant guidelines for ensuring validity, objectivity and inter-subjectivity of the model. Then, an application in a real R&D setting is described, which helps to understand the model and to enlighten its main advantages and limits.     

Evaluating innovation and labour market relationships: the case of Italy

In this paper the link between labour market flexibility andinnovation is analysed paying particular attention to the differenttechnological regimes of economic activities and the differentgeographical areas of the Italian economy. A dynamic panel dataspecification is used to assess the endogenous relationshipbetween patents, included as a proxy for innovation, and jobturnover and wages, which represent labour market indicators.Our results show that higher job turnover only has a significantand negative impact on patent activities in regional sectorsof Northern Italy, while blue and white collar wages have beengenerally found to have a positive and significant impact oninnovation.     

Training evaluation in Italian corporate universities: a stakeholder‐based analysis

Corporate universities have emerged as a mechanism for providing companies with a wide variety of training and development activities. They are a recent but under‐researched phenomenon, and given their substantial budgets, it might be expected that they would wish to evaluate what they do. The authors explore the evaluation practices of six Italian corporate universities, paying particular attention to the means by which these practices are tailored to the needs of the various stakeholders. Stakeholder‐based evaluation provides the theoretical framework for the study. The literature suggests that much evaluation of training focuses on a single stakeholder, the shareholder, and that practice draws heavily on Kirkpatrick's hierarchical model. In the context of the corporate university, however, the authors find that multi‐stakeholder evaluation is used in practice. Moreover, various aspects of corporate university performance were evaluated, and data were supplied to stakeholders depending on the nature of their involvement. Stakeholder‐based evaluation is argued to be a useful framework where there are a number of stakeholders, but training evaluation models other than the hierarchical one are needed if all relevant training factors are to be evaluated. The implications for research and practice are discussed.     

Network Externality and the Coordination Problem

We show that Rohlfss (1974) model is a special case of a spatial monopoly model á la Hotelling (1929) with uniform consumer distribution and quadratic transportation costs, where location is exogenous and the good yields no intrinsic utility. By relaxing these assumptions, we prove that the coordination problem typically thought to affect markets for network goods may not arise in general. Endogenizing location makes it easier for the monopolist to extract consumer surplus but also to cover the entire market. We also show that the main conclusions remain qualitatively unmodified if consumer distribution is triangular.revised version received September 16, 2003