Explaining the size differences of exporter premia: theory and evidence

Two decades of research have established pronounced exporter productivity premia (EPP) and exporter size premia (ESP). Yet, we do not know why such exporter premia differ so widely in magnitude across countries or sectors? We take this question to the theory and to the data. We derive the sectoral EPP and ESP in a standard heterogeneous firms trade model and apply the insights from the model to guide our empirical investigation of detailed Danish firm-level data. We show that a significant share of the observed variation in EPP and ESP across sectors can be accounted for by sector differences in the underlying variation in productivity dispersion, variable trade costs, the ratio of fixed export costs to fixed costs of production, and the elasticity of demand.     

Endogenous I-S and External L-M Diagram in Equilibrium towards Policy-Making

This paper reforms the conventional I-S and L-M diagram endogenously, clarifying how to finalize the relationship between the real and financial assets, replacing the I-S by the rate of return function of the ratio of investment to output/income and the L-M by the ratio of M2 to endogenous capital K, after verifying the neutrality of the markets to the real assets, and using endogenous parameters and variables in the 58 country data-sets, 1990–2007 (KEWT 3.09), with three average areas, where equilibrium holds by year, country, and sector, over years. This diagram and its interpretation are able to present urgent policies for perceiving a bud of bubbles and suggesting urgent steps not to reoccur bubbles.     

“I don’t Care that People don’t Like What I Do” – Business Codes Viewed as Invisible or Visible Restrictions

Research about codes of corporate ethics has hitherto taken a hypothetical, correct meaning of codes for granted. The article problematises the dichotomous categories intrinsic and subjective meanings of codes. I address the question if professionals in finance accept codes of business. The particular mentality of stockbrokers and traders constructs the way they judge restrictions such as company codes of ethics. While neglecting dimensions of ethics beyond known rules, brokers and traders distrust good ethics as a possible end in itself. Many professionals in the financial market perceive efforts to integrate ethical reasoning in work as only means for maximising business opportunities.     

Disaggregated Earnings and Stock Prices: Evidence from International Listed Shipping Firms

The goal of this study is to investigate the impact of earnings from vessel sales on stock prices for international listed shipping firms. The empirical findings show that operating income from vessel sales has a higher power in explaining stock prices than operating earnings only as a sole piece of accounting information for future profitability, investment opportunities, and firm valuation. The testing period is from 2000 to 2009. The methodologies are those of panel cointegration and panel causality tests. The implications are very crucial, since managers may manipulate annual earnings by such non-operating activities.     

Buyer Power,Transport Cost and Welfare

Manufacturers produce substitute products and sell to consumers in a linear city through competing retail stores. A low cost store obtains large market share by selling at low prices. Assume that a big retailer may exert buyer power by demanding wholesale discounts from manufacturers. The model identifies exclusionary effects of buyer power against competing retailers. It is also found that certain level of buyer power of a discount retailer may maximize social welfare, while that of a regular price retailer may maximize total consumer surplus. Nevertheless, excessive buyer power hurts both consumers and society.     

Useful measures in the field of time and dimensional rationalisation of manual training lessons

Schoolwork, especially lessons in manual skills is often associated with various ergonomics stresses. These stresses are the result not only of school obligations but also of the physical working environment and inadequate lesson planning. Much can be done in this field if certain approaches are taken into consideration at the work planning stage. Thus we can use certain analytical methods, such as the Method of Temporary Observations (Multi-Moment Method) and OWAS (a method for the evaluation of postural load during work), when positioning stressful lesson factors. This can be done in a relatively simple way in the field of time rationalisation as well as in the field of dimensional work adjustment to pupils. Research results in this paper show that by using a planned directed approach in this field, it is possible to achieve, a higher level of efficiency with normal levels of fatigue.     

Do Sovereign Defaults Hurt Exporters?

This paper uses a difference-in-difference methodology similar to the one originally proposed by Rajan and Zingales to test whether sovereign defaults hurt the more export-oriented industries disproportionately, and it finds strong support for this hypothesis. However, contrary to the findings of previous studies, our estimates suggest that the effect of defaults is short-lived.     

Has the Internet Eliminated Regional Price Differences? Evidence from the Used Car Market

We study the effects of the Internet on regional price differences. Comparing two Dutch regions, we find that before the rise of the Internet, price differences of used cars between those regions amounted to some 11–15%, controlling for mileage, age, fuel type and engine volume. These price differences have completely disappeared after the rise of the Internet, in particular a website that allows consumers to make detailed comparisons between almost all used cars for sale in the Netherlands.     

Predictors of Usage Intentions of Pirated Software

The purpose of this study is to investigate the salient factors influencing consumers’ attitudes and usage intentions towards pirated software. Using the Theory of Planned Behaviour, this study investigates the relationships between three sets of factors, i.e. personal, social and perceived behavioural control onto attitudes towards pirated software. Through a multiple regression, only personal factors have shown significant relationship with attitudes towards software piracy. Further results from this study have supported that favourable attitudes towards pirated software is likely to result in stronger intentions to use pirated software. It was found that computer proficiency acts as a predictor for intentions towards pirated software, rather than a moderator as originally postulated.