On the Number and Heterogeneity of Bidders in Livestock Auctions

We show in the context of livestock auctions that a seller's revenue may increase or decrease as the number of buyers increases, whether the additional bidder wins or not an object. Additional bidders who fill part of their demand from an outside source may have an even more adverse effect on prices. We use data from the Quebec daily hog auction to measure the effect of new bidders on auction prices. Variations in the number of bidders come from the entry and exit of Quebec packers and sporadic invitations extended to Ontario packers. We find that entry by Quebec packers had a significant positive impact on hog auction prices but that sporadic participation by Ontario packers did not have a significant impact on hog prices.     

Effect of green innovation strategy on firm‐idiosyncratic risk: A competitive action perspective

Despite increasing concern for corporate environmental responsibility in numerous industries, the relationship between green innovation strategy (GIS) and idiosyncratic risk is a rarely scrutinised topic, particularly in the automotive domain. In this study, we empirically explore the association between GIS and idiosyncratic risk and analyse the moderating role played by the firm's competitive action. We rely on the secondary information sourced for 132 top automotive firms, in the period ranging from 2011 to 2017 by applying the system generalised methods of moments estimator to the dynamic panel data model. Our findings indicate that GIS significantly reduces the idiosyncratic risk of all firms, and this relationship strengthens with the increase in the competitive action of the firms. Our evidence supports “it pays to be green” firm heterogeneity argument. This study highlights the academic and managerial implications and focuses on the environmental issues published in environmental management literature.     

Internal and external determinants of export performance: Insights from Algeria

The internationalization of small and medium‐sized enterprises (SMEs) has been the focus of numerous studies. However, while the attention has thus far been on SMEs operating in developed countries, firms evolving in a developing context, including Africa, have been largely neglected. To address this, and drawing on a dual resources‐based and network‐based view, this study simultaneously investigates the importance of internal and external resources for firms’ export performance and regularity in the context of North African SMEs. Using a sample of Algerian exporters, the study reveals the superiority of discrete resources for boosting export performance and export regularity. These findings provide directions to Algerian SME managers and policymakers as to important factors driving the internationalization process in the developing Algerian context.     

A budget impact analysis of lenalidomide in multiple myeloma Egyptian patients

Abstract

Introduction

The aim of this study was to estimate the budget impact of lenalidomide and dexamethasone (RD) versus bortezomib, cyclophosphamide and dexamethasone (VCD) in newly diagnosed multiple myeloma (NDMM) and relapsed refractory (RR) MM patients, from the perspective of the Egyptian Ministry of health (MoH).     

A study of environmental policies and regulations,governance structures,and environmental performance: The role of female directors

This paper seeks to contribute to the existing business strategy and the environment literature by examining the effect of governance structures on environmental performance within a unique context of improving environmental governance, policies, regulations, and management. Specifically, we investigate the extent to which corporate board gender diversity, including the proportion, age, and level of education of female directors, affects environmental performance of Chinese publicly listed corporations. Using one of the largest Chinese data sets to date, consisting of a sample of 383 listed A‐shares from 2011 to 2015 (i.e., observations of 1,674), our findings are threefold. First, we find that the proportion and age of female directors have a positive effect on the overall corporate environmental performance. Second, our findings indicate that the proportion and age of female directors also have a positive effect on the three individual environmental performance components, namely, environmental (a) strategy, (b) implementation, and (c) disclosure. Finally, and by contrast, we do not find any evidence that suggests that the level of education of female directors has any impact on environmental performance, neither the overall environmental performance measure nor its individual components. Our findings have important implication for regulators and policymakers. Our evidence is robust to controlling for alternative measures, other governance and firm‐level control variables, and possible endogeneities. We interpret our findings within a multitheoretical framework that draws insights from agency, legitimacy, neo‐institutional, resource dependence, stakeholder, and tokenism theoretical perspectives.     

Monetary Policy in a Small Open Economy with Imperfect Pass-Through

Atlantic Economic Journal - This paper studies the stabilization and welfare properties of various monetary policy regimes in a tractable framework suitable for the analysis of monetary policy in a...     

The Egyptian Government's Role in Re-Establishing the Hotel Industry in Cairo (1953–1957)

This article analyzes the role of the Egyptian Government in reviving and improving the Egyptian hotel industry in the revolutionary period. It provides a case study of a country with large political problems, but at the same time pursuing a dream—a dream that was expensive and demanding. Tourism was understood to be an important tool in promoting political stability and providing some legitimacy to a political system opposed by the major powers in the world. This study will examine the Egyptian Government's role in re-establishing the hotel industry as an important economic sector in Egypt during the period from 1953 to 1957, which was considered a critical political period. The year 1953 marked the beginning of the official plans to increase the hotel facilities in Cairo with the establishment of the Tourism Department; and 1957 marked the end of Suez Crisis of 1956. The study utilized unpublished U.S. Department of State documents that show that the hotel industry was used as tool to put pressure on the Egyptian President Gamal Abdel Nasser (1952–1970) to accept U.S. foreign policy in the Middle East and was one of the main issues negotiated between the two countries after the Suez Crisis.     

Spatial Integration in the Broiler Market in Peninsular Malaysia

The broiler sector in Peninsular Malaysia is marked by many structural elements of imperfect competition, particularly increasing vertical integration. This study adopts the Enders and Granger (1998 Enders , W. , & Granger , C. W. J. ( 1998 ). Unit root tests and asymmetric adjustment with an example using the term structure of interest rates . Journal of Business and Economic Statistics , 16 ( 3 ), 304 – 311 .[Taylor & Francis Online], [Web of Science ®] , [Google Scholar]) threshold autoregressive model to analyze market integration and pricing efficiency in the broiler sector. Results indicate that market integration exists in the broiler sector in spite of the structural rigidities that are present. However, asymmetries in price transmission are evident between the central market and regional wholesale markets.     

Liberalisation,privatisation and the productivity of Egyptian banks: a non-parametric approach

This paper evaluates the performance of Egyptian banks during a period characterised by changes in economic policies. The Egyptian government's liberalisation policies in the early 1990s have had a positive or negative impact on the performance of the Egyptian banks. In addition, whether the liberalisation impact has influenced different forms of banks' ownership and sizes with consistent magnitude is examined. Another objective of this paper is to examine the impact of the privatisation process at the end of 1995 on the efficiency and productivity performance of the overall banking sector and on joint-venture banks in particular. The data envelopment analysis Malmquist methodology is employed to estimate the productivity of Egyptian banks.     

How Can Globalization Affect Income Distribution? Evidence from Developing Countries

ABSTRACT

The standard Hecksher-Ohlin-Samuelson framework claimed that foreign trade benefits developing countries, but many empirical studies suggest otherwise. After analyzing data on income deciles from the World Income Distribution Database for 66 developing countries, we found that trade openness benefits underprivileged people in affluent countries but not in developing countries. Also, external financial flows and democracy in conjunction do not exert significant effects, suggesting that these variables might affect income distribution through different channels. Finally, we reinforce the Kuznets inverted-U hypothesis; namely, the presence of an economic development threshold beyond which low-income deciles would increase.