Portuguese Economic Journal - A set of RLS-type models with ARMA and ARFIMA dynamics is estimated and compared in a forecasting exercise with ARFIMA, GARCH and FIGARCH models. It is an extension of... 相似文献
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... 相似文献
We explore the relationship between inequality and entrepreneurial activity. Drawing on cross-sectional data from a largescale survey of the economic conditions of individuals across India, we develop a number of dimensions of inequality to explore empirically how inequality interacts with entrepreneurship, operationalized as self-employment or as employing other people. We find compelling evidence that there are thresholds to becoming self-employed, and even more so to assembling the combinations of resources and personal attributes required to become an employer. Greater inequality leaves more people unable to make the transition to self-employment, leaving casual laboring as the occupation of necessity. At the same time, inequality increases the number of employers in a society, by concentrating resources - particularly land and finance - enough for significant numbers of people to be able to cross this higher threshold. Lastly, greater differentiation into social or religious groups curtails the ability to cross either entrepreneurial threshold, presumably by limiting the extent and benefits of social networks of value for entrepreneurship. 相似文献
Differences in accrued gains and investors’ tax-sensitivity induce variation in a capital gains lock-in effect across mutual funds even for the same stock at the same time. Exploiting this variation, we show this effect influences funds’ governance decisions: higher capital gains decrease the likelihood a fund exits prior to contentious votes and increase the likelihood a fund votes against management. Consistent with tax motivation, these findings are concentrated among funds with tax-sensitive investors. Further, high aggregate capital gains across funds holding a stock predict a higher likelihood management loses a vote and a lower likelihood a contentious vote is proposed. 相似文献
Growing urbanisation in South Africa is reflected in burgeoning Working class and informal township settlements on the fringes of its major towns and cities. Paired with this is an increasing reliance on cash as the primary means of economic transaction, which has in turn stimulated the growth of micro-enterprise business activities within the township context. This article discusses the findings of an eight-township small-area census which occurred between 2010 and 2013 in Cape Town, Johannesburg, Ekurhuleni and Durban townships representing 250 000 residents. The researchers were able to establish the scope and scale of informal food and drink retailing in these localities. Of the 10 049 micro-enterprises located in the study, some 3966 (or 39% of the total) trade in food. These include enterprises in primary production, fresh produce retailing, grocery retailing from house and spaza shops, and informal foodservice enterprises. Food is the basis for much township informal business and plays an important role in making food increasingly affordable and locally accessible, and in creating cash employment. The article builds on the knowledge base of the township informal economy role in bolstering food security needs for the marginalised. 相似文献
Without guaranteed compensation, granted by the German Renewable Energy Sources Act (Erneuerbare Energien Gesetz/EEG), biogas plants compete with all other plant types on the market for electrical energy. However, exchange-based electricity products do not currently permit an economically viable operation of biogas plants owing to their cost situation. 相似文献
We develop a dynamic model of information transmission and aggregation in social networks in which continued membership in the network is contingent on the accuracy of opinions. Agents have opinions about a state of the world and form links to others in a directed fashion probabilistically. Agents update their opinions by averaging those of their connections, weighted by how long their connections have been in the system. Agents survive or die based on how far their opinions are from the true state. In contrast to the results in the extant literature on DeGroot learning, we show through simulations that for some parameterizations the model cycles stochastically between periods of high connectivity, in which agents arrive at a consensus opinion close to the state, and periods of low connectivity, in which agents’ opinions are widely dispersed.
Despite the importance of good collaborative relationships in interorganisational projects, clients and contractors often develop adversarial relationships due to perceptual distance about key project issues. In this case study research, we investigated how perceptual distance emerges and changes over time, and how the collaborative relationship between client and contractor develops alongside these dynamics. In this exploration, we built upon agency theory and stewardship theory as complementary perspectives for understanding client-contractor collaborative relationships. We gathered quantitative and qualitative data in two projects, conducting three assessments in about one year. We found that perceptual distance increased and decreased over time, and that a reduction was typically associated with the collaborative relationship being characterized by stewardship rather than agency. These findings suggest that a regular assessment and evaluation of partners’ perceptions of critical project issues is warranted to timely detect and counteract perceptual distance. Moreover, partners would best adopt a stewardship orientation to reduce perceptual distance, although this may take considerable effort given the distributive nature of many pre-project negotiations. 相似文献
Intereconomics - Only a few years ago, it was a widespread belief that globalisation would trigger processes of democratisation worldwide. However, even old and established democracies such as the... 相似文献