Dark financial profile leading to debt traps – A theoretical framework

This paper proposes a theoretical framework in an attempt to better explain the behaviours of some consumers of financial products during market crises. We review the established notions of irrationality and deception, and then add the construct of disconnection from financial needs, goals and preferences. We propone that these three concepts, respectively, cognitive, behavioural and emotional in nature, create a dark financial profile (DFP) by which these consumers unwittingly build debt. We use bibliometrics to highlight the current gap in the scholarly domains of interest and provide market examples of how the DFP likely deploys in the marketplace. This is the first article to use disconnection in such a context, and to improve the understanding of consumer behaviours in regard to disconnection, irrationality, deception and debt. Thus, we enrich the literature on debt, which has at times ignored the role of the combination of these constructs. We investigate avenues of research for developing further our emerging framework, especially on the notion of disconnection, and suggest that this effort may assist in preparing effective marketing of financial education programs and improving lending practices.     

The versatile role of sustainable market entrepreneurs in market transformation: An intervention framework for institutional change

This article investigates in which way sustainable entrepreneurship can generate institutional change that transforms markets towards sustainability. A transformation of models of economic organization and market structures through sustainable entrepreneurship fosters the path towards sustainability. Institutional change involves sustainable market entrepreneurs as institutional entrepreneurs that operate in an effectual manner in different market transformation phases. Sustainable market entrepreneurs while seeking entrepreneurial opportunities simultaneously shape existing market structures and market conditions in different sustainable market transformation phases thereby creating new opportunities. Accordingly, a framework that explains institutional change prompted by sustainable market entrepreneurs in market transformation phases is developed. In this framework, various interventions which encourage sustainable market entrepreneurs to co-create with the stakeholders of their choice are strategized. The provided framework enhances the understanding of the versatile role of sustainable market entrepreneurs and potentially the leverage of their actions towards institutional impact over time.     

Do major customers encourage innovative sustainable development? Empirical evidence from corporate green innovation in China

This paper examines the impact of customer concentration on green innovation in Chinese listed firms between 2006 and 2018 through the dynamic panel generalized method of moments regressions. It is reported that major customers positively impact corporate green innovation, indicating that firms have more incentives to engage in innovative green practices to maintain stable relationships with major customers. In addition, the positive relationship between customer concentration and green innovation is more pronounced in state-owned enterprises, firms located in the provinces with a high level of marketization, and after China's new Environmental Protection Law implementation. Moreover, we observe that the positive impact of customer concentration on corporate green innovation is more significant among industrial firms and firms operating in heavily polluting industries. Furthermore, industrial competition is an essential channel for major customers to affect corporate green innovation.     

What Accounts for the Rising Share of Women in the Top 1 percent?

The share of women in the top 1 percent of the UK’s income distribution has been growing over the last two decades (as in several other countries). Our first contribution is to account for this trend using regressions of the probability of being in the top 1 percent, fitted separately for men and women, in order to contrast between the sexes the role of changes in characteristics and changes in returns to characteristics. We show that the rise of women in the top 1 percent is primarily accounted for by their greater increases in the number of years spent in full-time education. Although most top income analysis uses tax return data, we derive our findings taking advantage of the much more extensive information about personal characteristics that is available in survey data. Our use of survey data requires justification given survey under-coverage of top incomes. Providing this justification is our second contribution.     

Empowering health care consumers in the era of Internet of Things

The Internet of Things (IoT) is emerging as a significant development in information technology that aims to link the digital world with the real world to improve human life. IoT refers to digital tools collecting data and providing hyper-personalized information to its users. With the rapid integration of the IoT in the healthcare sector (HIoT), it has been presumed that HIoT devices have an empowering effect on patients; however, this has yet to be investigated. Furthermore, the literature reveals a lack of consistency regarding the definition of patient empowerment. This study aims to fill these gaps and investigates whether HIoT systems increase user empowerment for individuals suffering from chronic illnesses. It also examines how empowerment is defined for HIoT users. To answer these two research questions, we conducted a qualitative research study consisting of 20 semi-structured, in-depth interviews carried out with individuals suffering from Type 1 diabetes (T1D). The interviews were transcribed and content analysis was conducted on the data. The study enabled us to examine whether and how the HIoT triggered empowerment for patients suffering from T1D. Findings reveal four main dimensions of empowerment for HIoT users: (1) self-efficacy, (2) patient control, (3) knowledge development and (4) participation in the decision-making process along with the doctor. Results also highlight that participants feel empowered by personal acceptance of living with their health condition and social support. In addition, the analysis led to the identification of the barriers which need to be overcome to ensure that HloT systems improve patient empowerment.     

Nonparametric estimation for i.i.d. paths of a martingale-driven model with application to non-autonomous financial models

Finance and Stochastics - This paper deals with a projection least squares estimator of the function $J_{0}$ computed from multiple independent observations on $[0,T]$ of the process $Z$ defined by...     

How do low-income enrollees in the Affordable Care Act marketplaces respond to cost-sharing?

The Affordable Care Act requires insurers to offer cost-sharing reductions (CSRs) to low-income consumers on the marketplaces. We link 2013–2015 All-Payer Claims Data to 2004–2013 administrative hospital discharge data from Utah and exploit policy-driven differences in the actuarial value of CSR plans that are solely determined by income. This allows us to examine the effect of cost-sharing on medical spending among low-income individuals. We find that enrollees facing lower levels of cost-sharing have higher levels of healthcare spending, controlling for past healthcare use. We estimate demand elasticities of total health care spending among this low-income population of approximately −0.12, suggesting that demand-side price mechanisms in health insurance design work similarly for low-income and higher-income individuals. We also find that cost-sharing subsidies substantially lower out-of-pocket medical care spending, showing that the CSR program is a key mechanism for making health care affordable to low-income individuals.     

Chamberlin without differentiation: Soft capacity constrained price competition with free entry

We show that the long-term properties of price and cost in Chamberlin's monopolistic competition model can be reproduced with a soft capacity constrained price competition oligopoly model for a homogeneous good with free entry.