The Panzar–Rosse revenue test and market power in banking

The Panzar–Rosse H statistic is a commonly used measure of market power in banking. It is widely believed that $H>0$ is inconsistent with significant market power. This study rigorously disproves that perception. Instead, the possibility of $H>0$ under conditions of substantial market power turns out robust to the timing of banks’ actions, relative costs, choice of strategic variable, degree of product differentiation, strategy (static or dynamic), and degree of heterogeneity in banks’ conduct (collusive versus fringe), and hence may be common in practice.     

How does the entrepreneurial orientation of scientists affect their scientific performance? Evidence from the quadrant model

In order to identify the effect of academic entrepreneurship on science, this work compares the publication performance of entrepreneurial scientists with that of conventional scientists. Using Stokes's ‘quadrant model’, this paper examines how the entrepreneurial orientation affects scientific performance. The results on advanced materials research in Japan found that (i) entrepreneurial scientists publish more papers than conventional scientists do; (ii) the papers of conventional scientists demonstrate better citation performance than those of entrepreneurial scientists do, on average; (iii) coming to the top-cited papers, entrepreneurial scientists show higher propensity for publishing high-impact papers than conventional scientists do; and (iv) the portfolio interdisciplinarity of papers authored by entrepreneurial scientists is higher than that of conventional scientists. Although the influence of academic entrepreneurship on scientific performance is still unclear, our findings suggest that entrepreneurial scientists could make a relatively large contribution to furthering the scientific frontier by relying on innovation rather than convention.     

Compliance of land cover changes with municipal land use planning: Evidence from the Lisbon metropolitan region (1990–2007)

In the past few decades, urbanisation has become a major phenomenon in European cities, thus representing one of the key human land cover changes with socio-economic and environmental impacts. In the Lisbon metropolitan region it is estimated that 17% of natural and farmland have been transformed into artificial areas. Since the end of 1990s, specific EU guidelines have been issued to contain urban sprawl and preserve agricultural land. Spatial planning in Portugal obviously is integrating these assumptions into the statutory land-use master plans. But what is the performance of this land use planning system regarding land cover evolution itself? Based on the Lisbon metropolitan region (LMR), one of the major areas of urban growth in Portugal, we examine spatio-temporal land cover patterns between 1990 and 2007 by integrating cross-matrix analysis, spatial metrics, and gradient analysis. Additionally, we overlay these land cover dynamics with municipal master plans that regulate land development in order to assess the compliance levels of this land-use regulatory system. Results indicate that: artificial areas are growing by coalescence and/or by scattered development along an urban–rural gradient; agricultural land is reducing and fragmentation is increasing to enlarge peri-urban spaces; there are high levels of conversion of agricultural land into urban land in protected areas, thus showing a lack of compliance to the land use regulatory system visible in the existing gaps between the original land-use assignments of the master plan and the actual developments.     

金融危机对湖北吸引FDI的影响——基于OIL范式的分析

根据OIL范式的分析,金融危机后湖北吸引FDI规模下降,是短期性的,长期来看不会对湖北吸引FDI的趋势造成太大的影响。政府要充分利用这次危机,提高湖北对FDI的吸引力。针对跨国公司目前资金链的严重不足,我省可以出台一些解决跨国公司短期融资的政策措施,让其资金尽快重新运转起来。应对失业劳动力进行有针对性的培训。加强社会保障体制,刺激消费,尤其是农村市场。     

Transformations of the Romanian agricultural paradigm under domestic economic policy reforms: An analysis during 1960–2011

The main aim of this paper is to investigate the transformations of the Romanian agricultural paradigm under the domestic economic policy reforms. An econometric approach is adopted by analyzing the evolution of Romanian agriculture between 1960 and 2011 from the perspective of its implications on residential land economy. This methodological choice relies on its high degree of applicability and its ability to reveal the massive transformation of the Romanian agricultural paradigm during the period under focus. Two regression models have been developed in the attempt to analyze the evolution of total value added and labor productivity in agriculture. The results obtained during the research confirm that Romanian agriculture exhibits determinant and significant elements able to trigger a massive change of paradigm.     

Contextual Framing and Monetary Incentives in Field Experiments on Risk Preferences: Evidence from German Farmers

Recent studies cast doubt on the ability of abstract experiments to predict decision‐making in the field. Thus, scholars have argued for more ‘realism’ by introducing context to field experiments. Yet, such realism may work against the induced values of monetary incentives in economic experiments. It is an open question whether contextual framing works best with or without inducing values, through methods such as the use of monetary incentives. Using a sample of 146 German farmers, we compare experimentally the predictive power of a framed lottery in an agricultural context vs. using an abstract version. For one half of the sample, lotteries are incentivised; for the other half, they are hypothetical. Although risk preferences differ between treatments, all four lottery tasks correlate poorly with farmers’ real‐world use of risk management instruments such as harvest or hail insurance. Subjects who start with an agricultural framing are willing to take significantly greater risks in the lotteries. More generally, our findings cast doubt on the ability of lottery tasks to predict risk‐taking in the field.     

WHICH INDUSTRIES TO BAIL OUT FIRST IN ECONOMIC RECESSION? RANKING US INDUSTRIAL SECTORS BY THE POWER-OF-PULL

There have been intense debates regarding which industrial sectors should be prioritized for receiving bailout in economic recessions. This paper takes a network perspective to rank sectors according to the Power-of-Pull (PoP), i.e. a sector's power to pull the overall economy. An eigenvector method is employed to assess the PoP of sectors in the USA, using input–output data from 1998 to 2010. The results support bailout to the motor vehicle sector, but argue against bailout to public infrastructure, health care and information technologies design and service sectors, and also reveal the continual decline of PoP ranking of computer and electronics manufacturing sector over time. These results confirm some but also show little support to some other economic revival policies of the Obama Administration in the USA.     

The challenge for women expatriates and spouses: some empirical evidence

This is an exploratory study examining issues associated with women expatriates and their spouses. Individuals representing three groups - organizations, women expatriates, male spouses - were interviewed to identify their experiences and concerns. The authors conclude that this issue will pose a dramatic challenge for international organizations in the coming decades, and that it is timely to investigate the issue in more depth.     

How Japan–US Economic Interdependence Changed from 1985 to 1990: Some Findings from Price-adjusted MITI Intercountry Input–Output Tables

This paper consists of two parts. First, constant-price Japan–US intercountry input–output (IO) tables are compiled, based on Japan–US IO tables of the Ministry of International Trade and Industry (MITI) for 1985 and 1990, and the relative producer prices of both countries, which are estimated by the ‘peeling off’ method from OECD purchasing power parity data. Second, a factor decomposition analysis is carried out to show changes in Japan–US economic interdependence between 1985 and 1990. The Leontief inverse matrices of intercountry IO tables are decomposed into three matrices, which reflect domestic repercussion effects, spillover effects to the other country and feedback effects of own final demand from the other country. Then, a traditional decomposition analysis of changes in production for both countries is applied to see how both countries' economic interdependence changed. It is found that Japan–US economic interdependence moved from a pattern of Japan's dependence on the US to an almost equally interdependent pattern, although the degree of dependence was still higher in Japan in 1990. At the same time, there are significant industrial structural changes in the relationship between both countries, as a result of the significant appreciation of the yen relative to the dollar from 1985 to 1990.     

Prioritizing destination attributes for optimal resource allocation: a study of Chinese tourists visiting Britain

ABSTRACT

This study assesses the importance, performance, and the interrelationships of key destination attributes for marketing managers to prioritize resource allocation. A three-dimensional analysis of importance–performance–impact-analysis (IPIA) factors, based upon a survey sample of 275 Chinese tourists to Britain and an expert panel interview with 10 destination marketing managers is presented. Data analysis was based upon a mix of multi-criteria decision-making methodologies, the Decision-Making Trial and Evaluation Laboratory (DEMATEL) method and the Analytic Network Process (ANP) method. The framework can be applied to prioritize resources allocation to improve customer satisfaction in other contexts, such as a sector or a specific business.