Is the Euro-Area core price index really more persistent than the food and energy price indexes?

The purpose of this paper is to measure the degree of persistence of the overall, core, food and energy Harmonized Indexes of Consumer Prices for the European Monetary Zone (HICP-EAs) and to identify its implications for decision-making in the private sector and in public policy.Using a non-parametric approach, our results demonstrate the presence of a statistically significant level of persistence in four HICP-EAs: headline, core, food and energy. Moreover, contrary to popular belief, the core index does not reflect permanent price changes. We also find evidence that the food and energy price indexes are more volatile and more persistent than the other two price indexes. Our results also show a reduction in persistence for both the headline and the core price indexes after the implementation of the single monetary policy, but not for food and energy.These results have important implications for both the private sector and for policymakers who use the core price index as a reference in their decision-making. In particular, core price index can lead to erroneous perception of price movements.     

Becoming a founder: How founder role identity affects entrepreneurial transitions and persistence in founding

We develop a new theory that views organizational founding as involving a role transition. Through the construct of founder role identity, we delineate how identity centrality and complexity affect individuals' ability to exit a work role in order to undertake founding activities. We argue that individuals are challenged to adjust to the founder role requirements and incorporate the new role into an overall self-concept. We then delineate how configurations of founder role identities influence persistence, and the longer-term outcomes of dormancy and successful founding.     

心理资本对创业坚持的影响--内在动机与创业榜样的调节作用

创业坚持是创业成功的重要前提。作为复杂的决策行为,创业坚持受到多方面因素的共同作用。基于社会认知理论,探讨乐观、韧性、自我效能感和希望等心理资本对创业坚持的影响,以及内在动机和创业榜样发挥的情境效应。通过对我国202名创业者进行问卷调查发现:创业者的乐观、韧性、自我效能感和希望均能够显著促进其坚持创业;内在动机正向调节乐观、韧性、自我效能感各自与创业坚持的关系;创业榜样对乐观、韧性、自我效能感各自与创业坚持的关系发挥正向调节作用。将个体因素(心理资本和内在动机)与环境因素(创业榜样)纳入同一理论框架,讨论其对创业坚持的影响,以期为创业坚持研究提供新颖和全面的视角。     

新会计准则实施后营业利润的信息质量研究

以新会计准则实施对营业利润信息质量的影响为研究对象,利用2001～2010年A股上市公司数据,从会计信息的持续性、稳健性和相关性三个方面综合评价新会计准则实施对营业利润信息质量的影响,同时分析了资产减值损失、公允价值变动收益和投资收益的并入对营业利润信息质量的影响.实证结果显示新准则对营业利润的综合影响结果是价值相关性提高,但持续性和稳健性下降.     

Growth and employment differentials under alternative wage-setting institutions and integrated capital markets

This paper compares the effects of different labor market institutions on economic growth and employment. In the general equilibrium model here presented, a mechanism causing persistence (on-the-job training) interacts with the strategic complementary between investors’ decisions on capital accumulation and workers’ decisions on labor-market participation. Within this framework (i) structurally and institutionally similar economies preserve forever their differences in output and employment levels, (ii) the steady-state growth rate is higher in an economy with competitive wage determination than in an unionized economy, (iii) this growth differential enlarges when the product and the capital markets of these two economies are integrated.