The education pillar of the Europe 2020 strategy: a convergence analysis

Empirica - In March 2010, the European Commission launched the Europe 2020 strategy ‘for smart, sustainable and inclusive growth’ in the EU. Education is a major pillar of the Europe...     

Dynamic managerial capabilities: Scale development and validation

Studies on dynamic managerial capabilities still have a rather theoretical nature, and there is great difficulty in finding a valid, reliable instrument to measure this construct. The present study contributes to solving this problem: It aims to develop and validate a scale to measure dynamic managerial capabilities. In this investigation, we develop a scale for three factors related to dynamic managerial capabilities: human capital, managerial cognition (already described in the literature), and relationship networks. The prominent finding in this research is the factor that is referred to here as relationship networks.     

供应链金融智慧化创新的内在机理研究——基于扎根理论的探索性分析

文章基于10个智慧供应链金融案例,对供应链金融中信息通信技术的赋能机制、作用机理及所实现的智慧效应进行了梳理,报告了供应链金融进行智慧化创新的内在逻辑.通过采用扎根理论方法,展开实践案例资料调查,反映了供应链金融业务迫切需要新的技术支撑以解决资金供需双方的信息不对称问题,进而构建出"需求—手段—中介—效应"这一供应链金融创新机理模型,揭示了供应链金融智慧化创新的路径方法.     

Coordination in a skeptical two-group population

Journal of Economic Interaction and Coordination - This paper explores a situation in which a population split into two groups attempts to achieve the socially efficient outcome of a coordination...     

The Credit Default Swap market contagion during recent crises: international evidence

Review of Quantitative Finance and Accounting - We test the hypothesis that underwriters set higher gross spreads and deeper offer price discounts in seasoned equity offers of firms exhibiting weak...     

Impact of state-dependent oil price on US stock returns using local projections

In this paper, we investigate the impact of oil prices on both aggregate and industry US real stock returns over the period 1973–2017. The empirical analysis contributes to the related literature introducing a state-dependent oil price (high and low) and the local projections approach. Our main finding is that, depending on the nature of the shock and industry, the negative effects of oil price shocks become exacerbated -and the positive effects get moderated- if oil prices are already high.     

Information and Knowledge as Antecedents of Consumer Attitudes and Intentions to Buy and Recommend Fair-Trade Products

The authors propose and empirically test a causal model to understand how the availability of fair-trade information and consumer knowledge about this issue affect consumers’ attitudes and intentions toward fair-trade products. The model is built upon the attitude-behavior paradigm and the premises of agency theory. It is tested through structural equation modeling with a sample of 292 Spanish consumers. The findings are that consumers do not have good knowledge about fair trade and that this is significantly determined by the lack of information about this in the market. It is also observed that consumers’ perceptions about the availability of fair-trade information have negative effects on their concern about this issue and that such information as is available is not effective in reducing consumer skepticism. The research represents an extension of previous fair-trade literature because the role of information and communication in improving consumer attitudes and buying intentions has rarely been explored in the case of ethical products.     

The Impact of Institutional Differences on Derivatives Usage: a Comparative Study of US and Dutch Firms

This paper examines the influence of institutional differences on corporate risk management practices in the USA and the Netherlands. We compare results to surveys in each country using a strategy that corrects for differences over industry and size classes across the Dutch and US samples. We document several differences in the firms’ uses and attitudes towards derivatives and attempt to attribute them to the differences in the institutional environments between the USA and the Netherlands. We find that institutional differences appear to have an important impact on risk management practices and derivatives use across US and Dutch firms.