Stakeholder theory and actor-network theory: The stakeholder engagement in energy transitions

The idea of sustainable development highlights the need to address economic, social, and environmental aspects to preserve the rights and needs of future generations. This paper proposes an association between stakeholder theory (ST) and Actor-Network Theory (ANT) that can better explain the dynamics of actors in the energy sector, in the context of sociotechnical transitions to sustainability. By selectively examining the way in which different researchers perceive this subject, we intend to address how the engagement of the stakeholders can promote sociotechnical transitions in the energy sector trough the connection between ST and ANT. We aim to characterize the dynamics of stakeholder's engagement in sociotechnical transitions in the context of sustainability in the energy sector, trough the connection of the two theories. A narrative literature review was performed on scientific databases. The results showed that sociotechnical transitions in the energy sector require the involvement of multiple actors with different interests and that ST associated with ANT provides a good basis for research on this theme. The association of both theories highlights the importance of ST to enhance cooperation in the areas of clean energy research and technology, providing a theoretical tool for understanding the dynamics of transitions and its different pathways. For future studies, it is recommended to deepen the relationship between human and non-human actors and their role as stakeholders.     

Optimal execution with stochastic delay

Finance and Stochastics - We show how traders use marketable limit orders (MLOs) to liquidate a position over a trading window when there is latency in the marketplace. MLOs are liquidity-taking...     

Refining the Lorenz-ranking of rules for claims problems on restricted domains

The comparison of the central rules for claims problems, according to the Lorenz order, has been studied not only on the entire set of problems but also on some restricted domains. We provide new characterizations of the adjusted proportional rule as being Lorenz-maximal or Lorenz-minimal within a class of rules on the half-domains. Using this result, we rank the adjusted proportional, the minimal overlap, and the average-of-awards rules by analyzing whether or not these rules satisfy progressivity and regressivity on the half-domains. We also find that the adjusted proportional rule violates two well-known claim monotonicity properties.     

Are cooperatives gender sensitive? A confirmatory and predictive analysis of women's collective entrepreneurship

The literature on entrepreneurship has developed a huge body of fruitful research to explain why women do not engage in business as often as men. However, relatively little is known about the role that different business models may play in driving women's entrepreneurial activity, which is examined in this study. In this paper we develop a model to empirically test the relationship between women's motivations to become entrepreneurs and their willingness to embark on business through cooperatives, a particular organizational model. We find that the fit between women's needs and expectations and the guiding principles of cooperatives is decisive for the materialization of female entrepreneurship. Furthermore, we explore the role that institutions can play in fostering this link. In doing so, we extend the literature on women's entrepreneurship by highlighting key factors to better channel the development of this potential resource for economic development. Our confirmatory model highlights the role of cooperatives as a type of organization particularly suited to the interests and needs of women entrepreneurs. Thus, the promotion of this business model can be useful to improve the number of women entrepreneurs and, in turn, enhance economic development.     

Natural and cyclical unemployment: A stochastic frontier decomposition and economic policy implications

This work splits effective unemployment into two components: natural unemployment, and cyclical unemployment. For that purpose, an estimation of the stochastic cost frontier is performed. The study is focused on the 17 autonomous communities in Spain over the period 1982–2012. Results evidence greater importance of the natural component as the principal determinant of effective unemployment. When comparing these results with those obtained applying univariate filters, the distribution in the components of the effective unemployment changes, increasing the importance of cyclical unemployment. This result indicates that the policymakers should have a greater power to implement aggregate demand policies.     

Effects of socially responsible human resource management (SR-HRM) on innovation and reputation in entrepreneurial SMEs

International Entrepreneurship and Management Journal - This work focuses on the importance of responsible human resource management, and its link to innovation and reputation, which are deemed to...     

Listed SMEs and innovation: the role of founding board members

International Entrepreneurship and Management Journal - Drawing from the resource-based view of the firm, Penrosean theory, and the resource dependence theory, it is argued in this study that the...     

Test power properties of within-firm estimators of ownership and board-related explanatory variables with low time variation

Review of Quantitative Finance and Accounting - After decades of fast growth, the Chinese housing market has become twice as large as the US housing market. In this paper, we examine the effect of...     

Talking Over Time - Dynamic Central Bank Communication

This paper studies the optimal dynamic communication strategy of central banks using a Bayesian persuasion game framework. In a dynamic environment, financial market participants and the general public have misaligned interests because the present and future have different relevance in their optimization problems, leading to a novel trade-off for the monetary authority. Compared to the static benchmark, I show that the central bank (CB's) optimal dynamic communication policy should put a higher weight on talking about the present state than the future. In addition, the CB should strategically send more noisy signals than in the static benchmark.     

Empirical analysis of the relationship between labour cost stickiness and labour reforms in Spain

This study performs an empirical analysis on the relationship between labour cost stickiness and the decrease in employment protection in the Spanish labour reforms in 2010 and 2012. Following these reforms, the sticky behaviour of labour costs substantially decreased with respect to the pre-reform period. All constituents of total labour costs followed a similar pattern: wages, social security contributions and number of employees. Results are robust to different models, estimation methods, periods of time, and industries, as well as with respect to endogeneity concerns.