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91.
This paper attempts to fill several important research gaps on the socioeconomic determinants of exclusive breastfeeding practices. In contrast to previous studies that have focused on the timely initiation and duration of breastfeeding, this article examines exclusive breastfeeding practices. Using data on 1138 children from the Indonesian Family Life Survey East 2012, we revisited to what extent mothers’ education levels and work in non-traditional sectors influence exclusive breastfeeding patterns. Furthermore, we investigated to what extent health-care demand and supply factors influence exclusive breastfeeding practices. Controlling for a wide range of individual, household, and community characteristics, our findings suggest that exclusive breastfeeding practices are affected positively by mothers’ education and negatively by mothers’ labour market participation in non-traditional employment contracts. Moreover, our results indicate that a higher availability and quality of health-care supply does not necessarily lead to better exclusive breastfeeding practices. Only when health-care supply was matched with a significant demand for such services, did we observe a higher chance for optimal exclusive breastfeeding. 相似文献
92.
For decades risk has been identified as a major concern for traveling. Although some recent studies focused on studying consumers' perceived travel risks, only a few prior studies literally discussed consumers' risk reduction strategies in the context of travel-related services. To fill this gap, this study aims to investigate the travel-related risk reduction strategies that Hong Kong residents adopt to strengthen their confidence during leisure travel. This study also explores if travelers of different travel-related and sociodemographic characteristics adopt different risk reduction strategies. Among different risk reduction strategies—“purchase travel insurance,” “bring extra cash,” and “search for latest information about the destination”—are the ones which Hong Kong residents are likely to adopt when they travel for leisure. Results revealed that travel-related and sociodemographic characteristics influenced travelers' likelihood to risk reduction strategies differently. Specifically, travel experience of travelers, age, and household income displayed significant differences in the likelihood of adopting most of the risk reduction strategies. 相似文献
93.
The double‐edged effect of knowledge acquisition: How contracts safeguard pre‐existing resources 下载免费PDF全文
Research summary : Acquiring knowledge on a partner's pre‐existing resources plays an important yet ambiguous role in collaborative relationships. We formally model how contracts trade off productive and destructive uses of knowledge in a buyer‐supplier relationship. We show that, when the buyer's pre‐existing resources are vulnerable to the revelation of sensitive knowledge, the supplier overinvests in knowledge acquisition as it expects to use the knowledge as a threat in price negotiations. A non‐renegotiable closed‐price contract prevents such overinvestment and reduces the supplier's ability to expropriate the buyer ex post. Our results extend to the cases of renegotiable closed‐price contracts, repeated interactions between a buyer and a supplier, and the use of nondisclosure policies. We draw theoretical, empirical, and managerial implications from our model. Managerial summary : This study yields new insights regarding the use of contract design in protecting pre‐existing, nonrelationship specific assets in buyer‐supplier arrangements. Anecdotal examples illustrate the “dark side” of these arrangements where opportunistic suppliers exploit knowledge of buyers' pre‐existing resources to seek rent and appropriate value. When a supplier is likely to act harmfully, a closed‐price contract that specifies the price of the supplier's component upfront may reduce the supplier's incentives to overinvest in acquiring and exploiting knowledge of the buyer's pre‐existing resources. As such, when a buyer's pre‐existing resources are highly valuable, and thus more vulnerable to use by the supplier outside of the arrangement, a non‐renegotiable closed‐price contract is more efficient. Additionally, limited disclosure policies and informal agreements based on repeated interactions complement indirect governance via price contracts. Copyright © 2015 John Wiley & Sons, Ltd. 相似文献
94.
95.
Feng-Jyh Lin Yi-Min Chen Fang-Yi Lo 《The International Entrepreneurship and Management Journal》2014,10(4):767-780
Recently, as practitioners and researchers from developed countries have increasingly probed the activities of emerging economies, what exactly drives the long-term economic profitability of firms in China has become the most salient issue in the above fields. However, a study dedicated to the persistence analysis of profitability differentials among firms in China has not yet been proposed. This study thus employs China’s business database to examine the persistence in the incremental components of the industry and firm effects on economic profitability and tests the hypotheses that conform to the conventional wisdom of relative rates of persistence. A persistence partitioning model is fitted to a new data set, and the results show that the incremental effects of industry on economic profitability persist longer than the incremental effects of the firm. In other words, the long-term competitive advantages of firms in China are more predictable and sustainable based on industry influences compared to firm factors. These findings support the predictions of industrial organization economics, and provide some implications for corporate strategy. 相似文献
96.
Zora Kovacic Marcello Spanò Samuele Lo Piano Alevgul H. Sorman 《Journal of Evolutionary Economics》2018,28(3):565-590
This paper investigates the empirical and theoretical basis of the decoupling between energy throughput and economic growth, with a critical view of the use of the decoupling concept as a policy priority. We provide an analysis of the historical trends of the metabolic pattern of European economies over a period of 18 years focusing on the changes in energy throughput and financial assets. The results show that energy consumption per hour of labor has remained constant, suggesting that no significant changes in production processes or technology have taken place in the productive sectors of the economy. The contribution of this paper is to establish a bridge between the economic analysis of financialization and the societal metabolism analysis of the economic process from a biophysical point of view. We argue that this bridge is crucial to draw attention to the biophysical consequences of financialization (a relative decoupling) and critically assess the pertinence of policies aimed at encouraging the decoupling in the context of increasing inequality. 相似文献
97.
98.
Ambrose Lo 《Scandinavian actuarial journal》2017,2017(7):584-605
The design of optimal reinsurance treaties in the presence of multifarious practical constraints is a substantive but underdeveloped topic in modern risk management. To examine the influence of these constraints on the contract design systematically, this article formulates a generic constrained reinsurance problem where the objective and constraint functions take the form of Lebesgue integrals whose integrands involve the unit-valued derivative of the ceded loss function to be chosen. Such a formulation provides a unifying framework to tackle a wide body of existing and novel distortion-risk-measure-based optimal reinsurance problems with constraints that reflect diverse practical considerations. Prominent examples include insurers’ budgetary, regulatory and reinsurers’ participation constraints. An elementary and intuitive solution scheme based on an extension of the cost–benefit technique in Cheung and Lo [Cheung, K.C. & Lo, A. (2015, in press). Characterizations of optimal reinsurance treaties: a cost–benefit approach Scandinavian Actuarial Journal. doi:10.1080/03461238.2015.1054303.] is proposed and illuminated by analytically identifying the optimal risk-sharing schemes in several concrete optimal reinsurance models of practical interest. Particular emphasis is placed on the economic implications of the above constraints in terms of stimulating or curtailing the demand for reinsurance, and how these constraints serve to reconcile the possibly conflicting objectives of different parties. 相似文献
99.
The development of innovative technology products is both costly and risky, and their economic value is highly uncertain. Based on a sample of 312 innovative technology products introduced between 1987 and 2006 in the U.S. and a long-horizon event study with control firms, we study the impact of innovative technology products on the long-term financial performance of a firm. In particular, we examine how the knowledge characteristics of the firm, which embrace its knowledge absorptive capacity, knowledge impact, and knowledge diversity, moderate such an impact. We find that on average an innovative technology product increases the firm's return on assets (ROA) (relative to control firms) by 2.18% in the second year after product introduction. However, the value of an innovative technology product varies with the knowledge characteristics of the firm that invented it. We find that the financial impact of technology products is stronger when firms have higher knowledge absorptive capacity, and more impactful and less diversified knowledge (as measured by patents). We classify firms into three categories based on their knowledge characteristics. We find that firms with a high knowledge fit increase their ROA by 4.55% after product introduction, while those with a low knowledge fit receive no benefit from the innovative technology products at all. 相似文献
100.
Since the pioneering paper of Black and Scholes was published in 1973, enormous research effort has been spent on finding a multi-asset variant of their closed-form option pricing formula. In this paper, we generalize the Kirk [Managing Energy Price Risk, 1995] approximate formula for pricing a two-asset spread option to the case of a multi-asset basket-spread option. All the advantageous properties of being simple, accurate and efficient are preserved. As the final formula retains the same functional form as the Black–Scholes formula, all the basket-spread option Greeks are also derived in closed form. Numerical examples demonstrate that the pricing and hedging errors are in general less than 1% relative to the benchmark results obtained by numerical integration or Monte Carlo simulation with 10 million paths. An implicit correction method is further applied to reduce the pricing errors by factors of up to 100. The correction is governed by an unknown parameter, whose optimal value is found by solving a non-linear equation. Owing to its simplicity, the computing time for simultaneous pricing and hedging of basket-spread option with 10 underlying assets or less is kept below 1 ms. When compared against the existing approximation methods, the proposed basket-spread option formula coupled with the implicit correction turns out to be one of the most robust and accurate methods. 相似文献