Dissent,sabotage, and leader behaviour in contests: Evidence from European football

This paper provides an empirical investigation of misconducts in contests based on data from European football. We extend previous studies by differentiating between dissents with the referee and misconducts directly aimed at sabotaging the competitor. We find that sabotage is more likely committed by teams with lower ability. Dissent is more likely to be shown by teams lagging behind in score and by away teams. We further find that captains engage more in sabotage during important matches and challenge referees' decisions immediately after sanctions of teammates. Finally, we also observe a deterrence effect of sanctions on all types of misconduct.     

Digitization of heritage collections as indicator of innovation

Heritage institutions house cultural and research content, which is the key source to stimulate soft innovation. Despite the potential, heritage collections are mostly inaccessible via digital mediums. We analyse the macro, meso and micro conditions of heritage organizations across Europe to identify the key determinants that foster soft innovation as reflected by the share of collection digitization and online publication. We find that organizations respond positively to an environment of high consumer digital literacy and sustainable resource allocation that enables slack, skilled staff and long-term strategic planning. Innovation is thus, in fact, enhanced by digital literacy from both producers and consumers.     

Management of R&D for reduction of technological delay: a strategic viewpoint

The establishment and effective use of R&D potential is considered as a way to reduction of technological delay. On the basis of analysis of alternative starting positions of a follower on the technological scene the adequate trajectories for technological pursuit are drawn. Five strategies are indicated as the most typical ones. Illustration is given for respective strategies of pursuit based on S-shaped performance development within given technological generation. Conditions and limitations are indicated in order to adapt general analysis to the practice of a company willing to overcome the technological gap and/or reduce the existing delay.     

Betrachtungen zum Grenzproduktivitätsproblem

Ohne Zusammenfassung     

Is institutional improvement possible?

A substantial literature shows that economic prosperity is dependent on the quality of economic institutions. Countries with low-quality institutions remain poor while countries with high-quality institutions prosper. Improvement in institutional quality brings with it economic growth. Poor countries must improve their economic institutions to escape poverty; so, if a poor country’s institutional structure is unlikely to improve, that suggests dismal prospects for economic growth and an escape from poverty. An examination of institutional quality over 30 years indicates that countries with low-quality institutions have improved their institutional quality, which demonstrates that poor countries are not stuck with low-quality institutions. They can improve their institutions, and consequently, can generate economic growth and escape poverty.     

An investigation of the weekend effect during different market orientations

Studies of stock returns over short horizons indicated irregularities in returns, the weekend effect, and consequently the notion of market efficiency has been questioned. Despite extensive research on the weekend effect, little research has been conducted to define the prominence of the seasonal anomaly in Bear markets versus non-Bear markets. In the paper the weekend effect is investigated for daily returns in the Dow Jones Industrial Average (DJIA), the S&P 500, and the NASDAQ for Bear and non-Bear markets. Results support a weekend effect but only during non-Bear market orientations and a possible day-of-the-week effect during Bear and non-Bear markets.