An application of Sigmoid and Double-Sigmoid functions for dynamic policyholder behaviour

Decisions in Economics and Finance - The growing relevance of risk-based valuations of insurance contracts has stimulated the extension of the traditional deterministic lapse rate models towards a...     

Hybrid dynamics of multi-species resource exploitation

Decisions in Economics and Finance - In this paper, we analyze a bio-economic model of exploitation of renewable commercial resources. To take into account the typically continuous-time modeling of...     

Twin Deficits in Developing Economies

Open Economies Review - This paper provides new evidence of the existence and magnitude of the “twin deficits” in developing economies. It finds that 1 % of GDP unanticipated increase...     

Industry 4.0 and circular economy: An exploratory analysis of academic and practitioners' perspectives

The union between Industry 4.0 and the circular economy (CE) appears relatively recent. In this sense, new trading zones for sharing a common scenario among academics and practitioners are needed. The paper aims to investigate the link between Industry 4.0 and the CE by understanding how Industry 4.0 can foster the impact of the CE on companies. The study proposes a broader perspective that includes thematic and content analysis gathering data on professional documents based on business cases, newspaper articles, press releases and specialised blogs, as well as scientific papers. The joint academic-practitioners view highlights how Industry 4.0 has the potential to impact on the CE through countless actions: increasing waste disposal; promoting remanufacturing; enhancing the efficiency of critical resources such as water, energy, gas and CO₂; and improving business models and the mission of companies. However, barriers still exist in its adoption, stressing the need for holistic and integrated design and a proactive environment of collaboration among stakeholders. Results lead to practical as well as research implications.     

How do Scientists Contribute to the Performance of Innovative Start‐ups? An Imprinting Perspective on Open Innovation

Our study illustrates how scientists contribute to the performance of innovative start‐ups through an analysis of 211 Italian start‐ups with and without scientist founders. Building upon imprinting theory, we hypothesize and find that scientists provide an advantage to innovative start‐ups to the extent that they stimulate open innovation (i.e., search breadth and depth). However, for this to effectively occur, the involvement of multiple scientist founders is needed, so that their career imprints internalized in the lab are successfully transferred to the start‐up. Moreover, if the start‐up embraces business practices (i.e., strategic planning) or departs from scientific logics (i.e., pursuing non‐commercial goals), scientists’ contribution is further increased. Therefore, our study illustrates how the scientist career imprint can provide an advantage to innovative start‐ups with multiple scientists, but also how it can act as a rigidity if the start‐up does not pursue strategic planning or emphasizes non‐commercial goals.     

International Fiscal-Financial Spillovers:the Effect of Fiscal Shocks on Cross-Border Bank Lending

Open Economies Review - This paper sheds new light on the degree of international fiscal-financial spillovers by investigating the effect of domestic fiscal policies on cross-border bank lending....     

No more discount under enhanced fair value hierarchy

We use an integrated approach to analyse the reasons behind the discount on the balance-sheet fair value of illiquid financial instruments held by European banks and classified into the Level 3 Fair Value hierarchy under IFRS 7. We believe that the potential sources of misalignment are (1) the lack of disclosure, (2) earnings management, and (3) the lack of liquidity. We show that the discount implicit in market values is linked to the lack of mandatory additional disclosure required by IFRS 7 and that this result supports the strong enforcement activity made by national authorities.     

Keeping it liminal. The Mondiali Antirazzisti (Anti-racist World Cup) as a multifocal interaction ritual

This paper examines how social mixing and celebration of diversity can be enabled through sports festivals marked by their carnivalesque atmosphere. Our analysis draws on a longitudinal ethnographic study of the Mondiali Antirazzisti (Anti-racist World Cup), a non-competitive football tournament and intercultural festival featuring the yearly participation of hardcore football fans (ultras), migrant groups, third-sector associations and other informal groups. We consider how the multifocal ritual form of the event helps to create a liminal space in which discrimination and stereotypes can be temporarily challenged. The sources of collective effervescence are multiplied by placing sport games within a wider range of other leisure and cultural activities, thus promoting internal diversity and the inclusion of outsiders. Additionally, social boundaries are also blurred by not emphasising the competitive dimension of the sporting activities, making sporting categorisations more fluid, and breaking down the separation between protagonists and spectators. Nonetheless, considering the transient character of liminality, we also investigate problems and limitations implied by the pursuit of these objectives. It is concluded that, despite a certain degree of self-referentiality, the festival fosters the spreading of anti-discriminatory cultures by enhancing the participants’ reflexivity and feeding their commitment in generating spin-off activities in different local contexts.     

A structural time series approach to modelling multiple and resurgent meat scares in Italy

This paper exploits a structural time series approach to model the time pattern of multiple and resurgent food scares and their direct and cross-product impacts on consumer response. A structural time series Almost Ideal Demand System (STS-AIDS) is embedded in a vector error correction framework to allow for dynamic effects (VEC-STS-AIDS). Italian aggregate household data on meat demand is used to assess the time-varying impact of a resurgent BSE crisis (1996 and 2000) and the 1999 Dioxin crisis. The VEC-STS-AIDS model monitors the short-run impacts and performs satisfactorily in terms of residuals diagnostics, overcoming the major problems encountered by the customary vector error correction approach.     

What makes a successful exporter? An introduction

The papers in this issue continue with the tradition of adding puzzles pieces to the overall picture of the impact and importance of firm international activities. In "What makes a successful exporter?", we have collected twelve papers, the majority of which were presented at the 13th annual ISGEP workshop in Ljubljana, Slovenia on 20–21 September 2018. The common thread linking these papers is that they explore both what it means to be an exporter and the ramifications of exporting on firms and the economy as a whole. On the one hand, this special issue addresses the role of foreign sourcing, export experience in the board of directors and credit supply shocks on the propensity to export, as well as the factors that affect firms' overall readiness to export. On the other hand, it investigates various measures of performance in the export markets, such as export duration, markups, quality upgrading and product mix.