The duration of new firms in banking: an application of Cox regression analysis

This paper studies the duration of two cohorts of entrants in the Italian financial intermediation industry. Using the Cox (1972) Proportional Hazards Model, it analyses the link between duration of each newborn firm and its start-up size, as well as a series of industry-specific characteristics. It emerges that not only did regulatory reform in 1990 result in a process of branch proliferation and industry concentration, but it also set in motion a pre-entry selection mechanism. Conversely, before completion of the regulatory reform, in 1989, entry was possible even for very small firms, and larger new entrants survived longer than their smaller counterparts, and this independently of the features of spatial and structural competition. First version received: Nov. 98/final version received: Oct. 99     

The Relationship Between Firm Size and Innovation Activity: A Double Decision Approach†

The main purpose of this paper is to analyse the relationship between firm size and innovation activity using Spanish data at firm level corresponding to the manufacturing sector for the period 1990-93. This exercise is different to previous applications because we allow for different size effects in the decision to innovate and the innovation count equation, in the context of a double-hurdle approach. Several tests confirm the hurdle negbin model. We find that firm size is a relevant factor, although size effects are different in both decisions. A robust result from the different specifications estimated is the rejection of the Gilbert and Newbery hypotheses. We find out that the behaviour of firm size is neither linear in the decision nor in thc count equation. We also provide additional, and sometimes different, evidence to previous Spanish studies on R&D.     

Pricing farm-level agricultural insurance: a Bayesian approach

This paper applies Hierarchical Bayesian Models to price farm-level yield insurance contracts. This methodology considers the temporal effect, the spatial dependence and spatio-temporal models. One of the major advantages of this framework is that an estimate of the premium rate is obtained directly from the posterior distribution. These methods were applied to a farm-level data set of soybean in the State of the Paraná (Brazil), for the period between 1994 and 2003. The model selection was based on a posterior predictive criterion. This study improves considerably the estimation of the fair premium rates considering the small number of observations.      

Payoff equivalence between Bayesian and ex post individually rational dominant strategy mechanisms

Summary. An efficient, interim individually rational, ex post budget balanced Bayesian mechanism is shown to be payoff equivalent to an ex post individually rational and ex ante budget balanced dominant strategy mechanism. This result simplifies the search for mechanisms that implement efficient allocation rules by pointing to a class of Groves mechanisms. It eliminates the strict requirement of common knowledge of priors and can be applied to many problems of incomplete information. Received: October 22 1996; revised version: November 25, 1997     

能源要素价格改革对宏观经济影响的CGE分析

当前国内要素价格改革呼声很高,其中能源价格改革更为迫切。本文利用MCHUGE模型,研究提高能源价格对中国经济发展的影响。研究表明,提高能源价格在短期和长期均能显著降低中国能源强度,其原因在于能源价格的提高优化了中国经济产业结构,第二产业尤其是重工业在国内生产总值中所占比重下降,减少了总体的能源消费。但是能源价格提高对宏观经济带来了较大的负面影响,其导致的出口下降和投资需求下降分别是短期和长期国内生产总值下降的主要原因。     

基于钻石模型的我国创意产业国际竞争力研究

本文结合创意产业的特点对波特的钻石模型进行调整,构建了创意产业国际竞争力理论模型和评价指标体系,并运用指数法对包括我国在内的七个代表国家的创意产业国际竞争力进行测评。在分析我国创意产业在国际竞争中的优劣势的基础上,运用比较静态分析方法进行模拟分析,指出了提升我国创意产业竞争力的路径和建议。     

论淡马锡模式对国有投资公司的借鉴

淡马锡公司是世界上最著名的国有控股公司之一，它先进的管理理念和治理模式成为许多国家争相效仿的对象。目前，我国国有投资公司还没有明确的定位，法人治理结构也存在较多的问题，因此，借鉴淡马锡成功的治理模式，对于国有投资公司的经营来说意义是非常重大的。     

Co-creation of business models for smallholder forest farmers’ organizations: Lessons learned from rural Ethiopia and Tanzania

Forest farmers’ organizations (FFOs) have recently gained scholarly attention as a collective action instrument to upgrade value chains. However, insights into possible business models and organizational forms of FFOs remain fragmented. This study thus aimed to co-create FFO business models in order to assess the business models in the context of the regulatory framework and the value chain upgrading theory. The Input–Output scheme and the Business Model Canvas (BMC) were merged to create an analytical lens. Participatory workshops with two farmers’ organizations, each in Ethiopia and Tanzania, were conducted and triangulated with ten focus group discussions and 25 key informant interviews. The co-created business models reflected the grassroots entrepreneurial potential of smallholders to envision FFOs. The gaps requiring external support, namely the know-how in accessing microfinance, silvicultural practices, and entrepreneurship, were revealed. We argue that the transformation from a farmers’ organization to an FFO enables wood value chain upgrading. Diversifying wood with non-wood products is key for FFOs. Regardless of how the regulatory framework shapes external support, the local government plays a pivotal role in facilitating the connection between FFOs and (non-)governmental support actors. Through this research, we develop suggestions for further empirical studies and offer several recommendations for decision-makers.