Testing Growth Convergence with Time Series Data— a non-parametric approach

A non-parametric time series testing is suggested to analyse the convergence of international output per-capita gaps. Non-parametric tests are based on signs and ranks of time series properties of output differences. The methods are applied to logs of USA percapita income differences for 16 OECD countries from 1900-97. In contrast to the results obtained by Bernard & Durlauf (1995) for the period 1900-87, convergence of output gaps was evident for the majority of countries. However, the trends in 1970-97 and 1987-97 are noticeably more complicated than the homogeneous convergence found in the pre-1970 period. The results indicate that widening USA gaps are now more likely to emerge than steady-state or narrowing gaps.     

Does venture opportunity variation matter? Investigating systematic process differences between innovative and imitative new ventures

The central thesis in the article is that the venture creation process is different for innovative versus imitative ventures. This holds up; the pace of the process differs by type of venture as do, in line with theory-based hypotheses, the effects of certain human capital (HC) and social capital (SC) predictors. Importantly, and somewhat unexpectedly, the theoretically derived models using HC, SC, and certain controls are relatively successful explaining progress in the creation process for the minority of innovative ventures, but achieve very limited success for the imitative majority. This may be due to a rationalistic bias in conventional theorizing and suggests that there is need for considerable theoretical development regarding the important phenomenon of new venture creation processes. Another important result is that the building up of instrumental social capital, which we assess comprehensively and as a time variant construct, is important for making progress with both types of ventures, and increasingly, so as the process progresses. This result corroborates with stronger operationalization and more appropriate analysis method what previously published research has only been able to hint at.

Trust and growth: a shaky relationship

We conduct an extensive robustness analysis of the relationship between trust and growth by investigating a later time period and a bigger sample than in previous studies. In addition to robustness tests that focus on model uncertainty, we systematize the investigation of outlier influence on the results by using the robust estimation technique Least Trimmed Squares. We find that when outliers (especially China) are removed, the trust-growth relationship is no longer robust. On average, the trust coefficient is half as large as in previous findings.      

The evolution of IT innovations in Swedish organizations: a Darwinian critique of ‘Lamarckian’ institutional economics

Fundamental correspondence and analogies between the evolution of technological and biological innovations call for an ‘innovation Darwinian’, ‘universal Darwinian’ or ‘memetic’ approach to understanding technology innovation. Neo-institutional, in fact pseudo-Lamarckian evolutionary economic theory, represented by North, Nelson and Winter, Freeman and others, is criticized. Pseudo-Lamarckian (“by volition”) evolution is explained and analyzed on Darwinian grounds (as intentional and artificial selection), as is Schumpeter’s definitions of creative and imitative innovation. Data from a web survey among Swedish public and private organizations in 1999 are studied. Data show that Darwinian co-evolutionary interaction between producers and users or clients provide essential conditions and stronger influence on creative IT innovations than both ‘Lamarckian’ strategies and competition.

More than meets the eye: videography and production of desire in semiocapitalism

ABSTRACT

In the light of the recent proliferation of interest in videographic methods in marketing and consumer research, we wish to make a call for thinking critically about the medium. In this article, we challenge traditional means of semiotic analysis and consider contexts outside aesthetic symbolism that take into account wider agencements of videographic inquiry. We sensitise thinking about videographic production to include a broad scope of influence beyond production and spectatorship. By positing a mode of desiring relationalities in ‘semiocapitalist’ markets, and through the illustrative example of pop-music videos, we show how videography not only produces symbols, but also has the tendency to discipline the viewer into particular subjective positions. We hope to add to the conceptual toolkit of aspiring video scholars and encourage them to be increasingly critical and reflexive about their potential impact.     

Are founding families less willing to bear risk? Evidence from the currency exposure and internationalization strategy of family firms

Although theory predicts that family firms should be less willing to bear risk than nonfamily firms, prior empirical papers have not found support for this prediction. In this paper, we focus on conditional currency risk because founding families can relatively easily influence their firms’ currency exposure. We find that family firms have relatively lower conditional currency exposure. This result holds for both descendant-led and nonfamily-led family firms. Consistent with purposeful actions of founding families, we find that exposure decreases with control-enhancing mechanisms, such as excess voting rights. The findings also support a wealth-preservation motive, evidenced by a finding that exposure declines with the number of family beneficiaries. Additional analysis suggests that family firms achieve the relatively lower risk by reducing internationalization depth and limiting exposure to riskier currencies.