Using Personal Car Register for Measuring Economic Inequality in Countries with a Large Share of Shadow Economy: Evidence for Latvia

We suggest using information from the state register of personal cars as an alternative indicator of economic inequality in countries with a large share of shadow economy. We illustrate our approach using the Latvian pool of personal cars. Our main finding is that the extent of household economic inequality in Latvia is much larger than officially assumed. According to Eurostat, the officially published estimate of the Gini coefficient for Latvia is 0.374 for 2009, which is much higher than the Gini coefficient value reported for all the 27 EU member countries (0.304), but significantly lower than 0.48 according to our results.     

Top management team social capital,exploration-based innovation,and exploitation-based innovation in SMEs

Despite increasing interest in ambidextrous innovations, mainstream literature has excluded discussions on developing and combining exploratory innovation (ERI) and exploitative innovation (EII) in the small- and medium-sized enterprise (SME) sector. This issue from the SME perspective is worth addressing. Recent studies have conceptually argued the importance of the top management team (TMT) in managing ambidextrous innovations. Building on this argument, we explore how the top manager external social relationships foster ambidextrous innovations and whether internal social relationships among senior executives can be used to integrate such innovations. The results show that (a) distinct external managerial relationships cause differential innovations for SMEs, and (b) internal social capital among top managers could be used effectively to manage ambidextrous innovations. This research indicates that SMEs engaging in both high ERI and EII perform better when they focus on the balancing benefits of TMT internal social capital and the bridging benefits of TMT external social capital.     

THE DECISION TO DEMUTUALIZE: AN EXPLORATION OF THE DRIVERS OF ORGANIZATIONAL CHANGE WITHIN THE AUSTRALIAN LIFE INSURANCE MARKET

The restructuring of the financial landscape that has occurred in the last three decades, has led to a reassessment of co‐operative models of organization. An outcome of this process has been the demutualization of mutual financial organizations. Using a case study approach this paper analyses the pressures on mutual structures encountered by Australian mutual life insurers. Such an approach provides a number of insights into the way in which firms adjust to changes in regulatory and competitive environments. It is concluded that a number of exogenous and endogenous forces combined to drive the process of organizational change.     

Determinants of patent value: Insights from a simulation analysis

This paper contributes to understanding the determinants of patent value. By drawing on a real options approach, we develop a theoretical model of patent value, which explicitly considers the uncertainty about future value. On this basis, we rely on Monte Carlo simulations with data from a case study in a large chemical firm to estimate patent value according to our model. In the simulation analyses, we compare an R&D project with patent protection and the same project without patent protection. The difference of the values of the two projects is the surplus in profit that may be expected from having a patent covering the project. This surplus is regarded as the value that is directly attributable to the patent. The results of the simulation analyses indicate that the development costs and expected net cash flows of a patent-protected project are higher than of an unpatented project. The higher net cash flows outgrow the increased development costs, and patent value is positive. However, this value is smaller than the overall project value of the patent-protected R&D project.     

基于企业传播视角的我国上市公司社会责任实证研究

本文基于企业传播的视角,通过对<福布斯>2009年全球上市公司2000强中内地上市公司网站、年报和社会责任报告中有关公司社会责任的内容披露的统计分析,围绕上市公司履行社会责任的动机、内容以及利益相关者在其中的应用等问题展开实证分析.研究表明,不同公司履行社会责任的程度各不相同,呈近似正态分布,且与所属行业国际化程度正相关;上市公司中绝大多数公司社会责任受到价值驱动,只有少数公司受到财务绩效或者利益相关者驱动;目前上市公司社会责任实践的三种主要形式依次是从事公益捐赠、遵守道德准则,以及支持各种慈善事业,而志愿服务和质量管理则相对欠缺.     

我国企业慈善行为的市场反应——基于汶川地震捐赠数据的实证检验

本文以136家中国上市公司为样本,分析了汶川地震后资本市场对企业发布捐赠公告的市场反应,与对照组企业相比,样本中的企业的7天累计超额收益率显著为正.但是,当把样本划分为政府控股企业和私人企业两类后,本文发现两类企业在捐赠行为上存在明显的差异,Godfrey的"慈善捐赠只有被看作是企业社会责任的真实表达时才可以提高企业价值"的观点,在政府控股企业并不适用.     

“十二五”时期的中国财政支出结构改革

本文围绕"十二五"时期中国财政支出结构改革可能涉及的主要问题进行阐述。本文分为4个部分:首先介绍中国财政支出结构改革的历史背景;其次以世界其他国家的财政支出结构为参照,对中国财政支出结构的基本情况做一评估,指出当前中国财政支出结构存在的问题;再次着眼于"十二五"时期的经济社会形势,探索中国财政支出结构改革的方向;最后是本文小结。     

浅析建筑美学在旅游中的价值与作用

通过对于传统建筑美学理论的介绍、对比中西古典建筑艺术差异、分析中国古建筑的主要形式,审视以中国古代建筑中美学理解的变化,从而反映建筑美学在旅游中的价值与作用。     

Preferences in the Future

Environmental economics has been much occupied with the discount rate, which is the value of future costs and benefits relative to present costsor benefits. But at least as important is the question of whatshould be discounted, that is, what the value of those future environmentalbenefits is to future generations. This paper analyzes the role for futurepreferences and discusses the state of knowledge. I argue that theappropriate discount rate is the market one, and that the real problemis determining future willingness-to-pay. This approach makes clearerthe connection between discounting and the valuation debate.This paper focuses on two features that have been prominent in that debate:existence value and reference dependence. I argue that thereis a vital connection between the two constructs and that this link yieldsimportant implications for future willingness-to-pay.     

Values, prices of production and market prices: some more evidence from the Greek economy

This paper extends the empirical investigation of the relationbetween labour values and different price forms in the caseof the Greek economy. Subjecting the labour theory of valueto empirical tests with data from various countries helps inthe derivation of general conclusions regarding its empiricalvalidity and practical usefulness. Our results on the closenessof values and prices as measured by their absolute deviationand correlation, the shape of the wage–profit curves,the predictive power of labour values over market prices comparedwith other ‘value bases’, and the comparison offundamental Marxian categories when estimated in value and priceterms provide further support for the empirical strength ofthe labour theory of value.