Credit constraint and human capital investment: an empirical analysis using Brazilian household budget survey

This article is a first step towards understanding the relationship between credit market imperfections and inequality of opportunity in skill formation. The main goal is to investigate the effects of the credit constraint on the optimal human capital decision, in terms of degree of schooling, taking into account the household preferences for education. Our starting point is a theoretical model of human capital investment decision with credit constraint. Following a previous model in the literature, we propose a reduced-form approach that estimates the relation between education decision and initial wealth in Brazil. Our empirical analysis is conducted using data from a Brazilian Household Budget Survey (Pesquisa de Orçamentos Familiares), for years 2002–2003 and 2008–2009. Our results point out that education decision is in fact credit constrained. The empirical results show a strong and highly significant effect of wealth on educational level of children, teenagers and adults, even controlling by education expenditures. But we find no evidence of credit constraint on high level education decision, like undergraduate and graduate levels.     

Gender differences in socially responsible consumption. An experimental investigation

We report on a simple experimental study designed to investigate the different gender attitudes towards socially responsible consumption. We use the Vote-with-the-Wallet Game, (VWG), a version of a repeated multiplayer prisoner’s dilemma that mimics the characteristics of the choice between a conventional and a socially responsible product. More precisely we test the effect of three factors: two different frames and an ex-post redistribution mechanism that transfers resources from purely self-interested consumers to responsible ones. We find that women remain significantly more cooperative (choosing more often the responsible good) when the redistribution mechanism is interrupted and are significantly less satisfied about the behaviour of the other players in that treatment.     

Social commitment or self-interest? Effect of responsible practices performance motivations of firms on the consumer decision-making process

Due to the increasing dynamism of global economic activity, all kind of organizations are nowadays concerned for maintaining their involvement with demands and changes of society. Particularly, Corporate Social Responsibility (CSR) has gained increasing importance within both public and private organizations, it being the subject of much investigation and debate among both researchers and practitioners. In this sense, discussion of CSR implications for consumer behavior has been a common topic in recent marketing literature, demonstrating in some cases, a link between CSR and positive responses by consumers and inconclusive effects in others. In the context of such controversy, experts call for further investigation about the consequences of CSR on consumer behavior. Within this line of research, the present paper analyzes the influence of motivations attributed to CSR practices in business settings on four stages of consumer decision-making process. For that purpose, it was conducted a survey study which reached a final sample of 400 Spanish consumers. Regression analysis revealed that, while expectations of social-oriented goals in responsible firms is positively related to consumers’ goodwill over the various stages of their purchase decisions and actions, the potential effects of profit-based considerations are more complex.     

Do social networking sites contribute for building brands? Evaluating the impact of users' participation on brand awareness and brand attitude

Social networking sites (SNSs) have attracted increasing attention from brands, which look at the platform as a privileged communication channel to reach their audiences. Despite their growing adoption, few research efforts have been devoted to evaluate SNSs' concrete implications for the brands. The current study addresses this opportunity, proposing a model that evaluates the impact of users' participation in SNSs on brand awareness and brand attitude, the two main pillars of brand knowledge. The study focuses on brand like pages in Facebook, the most used SNSs platform for brands. An online quantitative survey with brand like page users of leading brands in Facebook was implemented. Confirmatory factor analysis was used to estimate the measurement model and structural equation modelling was used to test the proposed research hypotheses. The results identify a significant, positive and direct impact of users' participation on brand awareness. Brand attitude also substantially benefits from users' participation, but this relationship is mediated by brand awareness. The findings help to validate SNSs' significant role on building brand knowledge and to position users' participation at the core of brands' SNSs objectives. Furthermore, the study provides a practical research framework, easily adapted for monitoring purposes and managerial guidance. Future research directions are discussed.     

Nudging using the ‘dish of the day’ strategy does not work for plant‐based meals in a Danish sample of adolescent and older people

Adequate nutrition is an important factor for health and well‐being in adolescents and later years. Fruits and vegetables are part of a healthy diet as important source of nutrients, but their intakes are lower than the recommendations in European countries. This study aimed to compare the choices made by adolescents and older people between three similar dishes, one based on meat, one on fish and one on vegetables, in two different conditions: a neutral (control) situation and an intervention situation in which the vegetable‐based meal was designated ‘dish of the day’. The comparisons of choices will be made within the same age group (adolescents in the control group vs. adolescents in the intervention group; older people in the control group vs. older people in the intervention group). A quasi‐randomised field trial design was used with a sample of 94 adolescents (aged 10–19 years) and 97 older people (aged ≥65 years), who were randomly allocated to intervention or control groups. In the control situation participants were asked to choose between three similar meals, one meat, one fish and one the VeggiEat dish. In the intervention, the VeggiEat dish was labelled the ‘Dish of the day’. All dishes were provided free of charge, displayed side by side in the same order and served in same portions. The dish choices showed no differences between the control and intervention groups in both age groups, and no differences were found among the other variables analysed. This nudging strategy, ‘dish of the day’, seems not to work for the Danish sample of adolescents and older people. Future nudging studies with these populations are needed in order to find the best strategy to move adolescents' and older people's food habits toward a healthier pattern.     

Gender Differences in Online Customer Satisfaction: The Asymmetric and Nonlinear Effect

ABSTRACT

The article aims to determine the extent of gender-related differences in user satisfaction with websites with a focus on the asymmetric and nonlinear effects of customer satisfaction. An experiment was conducted with 15 men and 15 women who undertook a typical task (scenario) on 44 websites. Overall, 1,320 evaluations of website quality attributes were obtained and analyzed. The results reveal that men and women differ in their website quality assessment. Marketing professionals should consider their target audience's gender when designing a quality website, or even devise ways of approaching both gender groups through distinct means.     

Technology spillover effects within Spanish communities

The article uses panel data for the period 1990–2010 to estimate technology spillover effects on 17 Spanish communities. Accounting for nonstationarity and cointegration, we use the dynamic OLS estimator to estimate the impact of domestic and non-domestic R&;D capital stock on labour productivity of Spanish communities, taking into account trade-, migration- and foreign direct investment (FDI)-related technology diffusion channels. We find significant trade-related spillover effects within Spanish communities and from EU countries. On average, an increase in the non-domestic R&;D stock of 1% increases their labour productivity between 0.02% and 0.12% if related to bilateral trade pattern. Moreover, migration within Spanish communities has a negative impact ranging between ?0.07% and ?0.16% on labour productivity as the impact of inward migration is dominated by outward migration. There is no robust impact from FDI inflows of OECD countries in general or EU countries in particular. Finally, the domestic R&;D stock, physical capital and human capital are shown to be significant drivers for labour productivity in Spain no matter if non-domestic (local or foreign) spillover effects are trade-, migration- or FDI-related.     

Inequality Stagnation in Latin America in the Aftermath of the Global Financial Crisis

Between 2003 and 2010, Latin America experienced a solid record of economic growth, coupled with a notable reduction in income inequality. The regional Gini coefficient fell from 0.556 to 0.521 and declined in all 15 out of 17 countries in which frequent data are available. However, previous studies have warned about problems in the sustainability of the decline in income inequality and this study presents evidence of stagnation on this front between 2010 and 2013. The results are robust to various measures of income inequality, but differ across the region. While largely attributable to the recovery from the global financial crisis in Mexico and some countries in Central America, the results are also supported by the demonstrated slowdown in inequality reduction in other countries, including Brazil, Ecuador and Bolivia.     

The growth of university spin-offs: a dynamic panel data approach

Evidence suggests that a significant percentage of the university spin-offs (USOs) have a low growth capacity, putting in question the use of public funds to promote this kind of entrepreneurship. In addition, previous studies of the USOs’ growth have not dealt with the dynamic nature of firm growth, which might have led to questionable results. This paper analyses whether the university origin of a firm conditions its growth by applying a methodology which captures this dynamic nature of growth. Using a sample of 469 Spanish USOs and an equivalently matched group of 469 Spanish non-USOs over the period 2001–2010, we find that USOs have more growth than non-USOs, both in terms of sales and employment. In addition, the USOs’ growth is influenced by a set of determinants that differ from those of non-USOs. On the basis of the results, we propose some policies to foster the USOs.     

Shipment frequency of exporters and demand uncertainty

This paper examines how exporting firms adapt to the uncertainty stemming from demand volatility. By using monthly customs data from France, we decompose exports into different extensive and intensive margins including two novel margins: the number of months the firms exported (frequency) and the average export value per month. We establish four empirical patterns. First, firms export less to markets with higher demand volatility. Second, this effect is mainly explained by the frequency margin. Third, volatility affects the frequency margin through two channels: indirectly through lower trade volume and directly through logistics re-optimization. In particular, our results suggest that firms send less frequent, larger shipments to more uncertain markets conditional on total exports. Fourth, the effect of demand volatility is magnified on markets with longer time-to-ship. We propose that these observations are in line with simple stochastic inventory management approaches.