N. Linciano, Valeria Caivano, D. Costa, Monica Gentile, P. Soccorso
English Abstract: The 2020 edition of the CONSOB Report on financial investments of Italian households presents evidence on the financial choices of a representative sample of 3,274 Italian financial decision makers to gaining insight as to how they manage investment decisions and the main risks they may take. The first two Sections of the Report explore the macro environment and trends in household wealth and savings and include an analysis on retail trading and investments in Italy during the Covid-19 crisis based on MiFID transaction data. The third Section examines socio-demographic characteristics of the sample and several personal traits that may affect financial behaviours, such as procrastination, self-efficacy and financial anxiety as well as financial satisfaction and the attitude towards financial trust. Section 4 deeply investigates financial knowledge (actual and perceived), financial competence and interest in financial education initiatives. Section 5 and 6 are respectively dedicated to financial control and saving habits and investment choices and demand for investment advice. The last two Sections of the Report focus on respondents’ knowledge and interest in sustainable and responsible investments (SRIs) and on attitude towards digital assets and financial services. The Report provides a broad overview of Italian households’ financial knowledge, the quality of their financial choices as well as useful insights about financial education challenges.Italian Abstract: Il Rapporto CONSOB per il 2020 su ‘Le scelte di investimento delle famiglie italiane’ raccoglie i dati relativi a un campione di 3.274 individui, rappresentativo dei decisori finanziari italiani. Il documento si articola in otto sezioni, di cui le prime due basate su dati di fonte esterna e dati di vigilanza e le rimanenti sei basate sui dati dell’Osservatorio CONSOB sulle scelte di investimento delle famiglie italiane. La prima sezione del Rapporto illustra le principali dinamiche macroeconomiche e le ripercussioni della crisi in atto su economia reale, occupazione, reddito disponibile e consumi delle famiglie italiane. La seconda sezione riporta l’evoluzione della ricchezza finanziaria e del tasso di risparmio delle famiglie italiane nel confronto con l’area euro nonché le dinamiche relative all’invecchiamento della popolazione e al livello di digitalizzazione dell’economia;la sezione si conclude con l’esposizione dell’evidenza sull’operatività degli investitori retail italiani sul mercato azionario domestico (con particolare riferimento alle settimane di massima volatilità corrispondenti all’esplosione della pandemia) e della composizione dei titoli detenuti dagli intermediari italiani in custodia o amministrazione per conto della clientela retail italiana. Le sezioni successive analizzano i dati dell’Osservatorio, rilevati a giugno 2020. In particolare, la terza sezione censisce, oltre ai profili socio-demografici e alla propensione al rischio, alcune attitudini psi
摘要:2020年版CONSOB意大利家庭金融投资报告提供了3274名意大利金融决策者的代表性样本的金融选择证据，以深入了解他们如何管理投资决策以及他们可能承担的主要风险。报告的前两部分探讨了宏观环境以及家庭财富和储蓄的趋势，并根据MiFID交易数据分析了2019冠状病毒疫情期间意大利的零售交易和投资。第三部分考察了样本的社会人口特征和可能影响财务行为的几个个人特征，如拖延症、自我效能和财务焦虑，以及财务满意度和对财务信任的态度。第4节深入调查了金融知识(实际和感知)、金融能力和对金融教育活动的兴趣。第5节和第6节分别讨论财务控制和储蓄习惯以及投资选择和投资建议需求。报告的最后两部分侧重于受访者对可持续和负责任投资(SRIs)的知识和兴趣，以及对数字资产和金融服务的态度。该报告全面概述了意大利家庭的金融知识、金融选择的质量以及有关金融教育挑战的有用见解。摘要:Il Rapporto CONSOB per Il 2020 su ' Le selte di investmentento delle family italiane ' raccoglie i dati relativei a uncamppione i 3.274个人，代表dei decisori finanziari italiani。我的文件是关于意大利经济的，我的文件是关于意大利经济的，我的文件是关于意大利经济的，我的文件是关于意大利经济的，我的文件是关于意大利经济的，我的文件是关于意大利经济的，我的文件是关于意大利经济的。《首要经济报告》阐明了宏观经济的基本原理，即经济危机对经济的冲击，对就业的冲击，对一次性消费的冲击，对家庭的冲击。La自sezione riporta l 'evoluzione德拉ricchezza finanziaria e del《di risparmio delle famiglie借出nel confronto con l 'area欧元nonche le dinamiche相对所有'invecchiamento德拉popolazione e al livello di digitalizzazione戴尔'economia;洛杉矶sezione如果得出l 'esposizione戴尔'evidenza黄化'operativita degli investitori零售italiani南向来azionario domestico (con particolare riferimento阿莱settimane di massima volatilita corrispondenti 'esplosione德拉大流行性疾病(流行病):由管理部门管理的意大利中间商管理的意大利中间商管理的意大利中间商管理的意大利零售客户管理的意大利中间商。观测数据的连续分析，观测数据的连续分析，观测数据的连续分析。具体地说，社会经济学、社会-人口统计学、所有倾向经济学、所有态度经济学、所有态度经济学、所有取向经济学、所有观点经济学、所有假设经济学、金融经济学和个人经济学。四分之一的注意力集中在财务上，有效地感知。第二部分，第5部分，财务管理分析，财务管理定义，财务管理将考虑财务控制(财务管理，财务管理，负债管理);第6部分，投资管理分析，财务管理咨询。结论:企业社会责任、社会责任、服务态度、投资价值的数字化与企业社会责任、投资价值的数字化、社会责任的数字化、企业社会责任的数字化、企业社会责任的数字化、企业社会责任的数字化、企业社会责任的数字化、企业社会责任的数字化、企业社会责任的数字化、企业社会责任的数字化、企业社会责任的数字化、企业社会责任的数字化、企业社会责任的数字化、企业社会责任的数字化。
{"title":"Report on Financial Investments of Italian Households. Behavioural Attitudes and Approaches - 2020 Survey (Rapporto 2020 sulle scelte di investimento delle famiglie italiane)","authors":"N. Linciano, Valeria Caivano, D. Costa, Monica Gentile, P. Soccorso","doi":"10.2139/ssrn.3748637","DOIUrl":"https://doi.org/10.2139/ssrn.3748637","url":null,"abstract":"English Abstract: The 2020 edition of the CONSOB Report on financial investments of Italian households presents evidence on the financial choices of a representative sample of 3,274 Italian financial decision makers to gaining insight as to how they manage investment decisions and the main risks they may take. The first two Sections of the Report explore the macro environment and trends in household wealth and savings and include an analysis on retail trading and investments in Italy during the Covid-19 crisis based on MiFID transaction data. The third Section examines socio-demographic characteristics of the sample and several personal traits that may affect financial behaviours, such as procrastination, self-efficacy and financial anxiety as well as financial satisfaction and the attitude towards financial trust. Section 4 deeply investigates financial knowledge (actual and perceived), financial competence and interest in financial education initiatives. Section 5 and 6 are respectively dedicated to financial control and saving habits and investment choices and demand for investment advice. The last two Sections of the Report focus on respondents’ knowledge and interest in sustainable and responsible investments (SRIs) and on attitude towards digital assets and financial services. The Report provides a broad overview of Italian households’ financial knowledge, the quality of their financial choices as well as useful insights about financial education challenges.Italian Abstract: Il Rapporto CONSOB per il 2020 su ‘Le scelte di investimento delle famiglie italiane’ raccoglie i dati relativi a un campione di 3.274 individui, rappresentativo dei decisori finanziari italiani. Il documento si articola in otto sezioni, di cui le prime due basate su dati di fonte esterna e dati di vigilanza e le rimanenti sei basate sui dati dell’Osservatorio CONSOB sulle scelte di investimento delle famiglie italiane. La prima sezione del Rapporto illustra le principali dinamiche macroeconomiche e le ripercussioni della crisi in atto su economia reale, occupazione, reddito disponibile e consumi delle famiglie italiane. La seconda sezione riporta l’evoluzione della ricchezza finanziaria e del tasso di risparmio delle famiglie italiane nel confronto con l’area euro nonché le dinamiche relative all’invecchiamento della popolazione e al livello di digitalizzazione dell’economia;la sezione si conclude con l’esposizione dell’evidenza sull’operatività degli investitori retail italiani sul mercato azionario domestico (con particolare riferimento alle settimane di massima volatilità corrispondenti all’esplosione della pandemia) e della composizione dei titoli detenuti dagli intermediari italiani in custodia o amministrazione per conto della clientela retail italiana. Le sezioni successive analizzano i dati dell’Osservatorio, rilevati a giugno 2020. In particolare, la terza sezione censisce, oltre ai profili socio-demografici e alla propensione al rischio, alcune attitudini psi","PeriodicalId":120099,"journal":{"name":"Economic Anthropology eJournal","volume":"34 2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128748725","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Men and women negotiate differently, which might create gender inequality in access to resources as well as efficiency losses due to disagreement. We study the role of gender and gender pairing in bilateral bargaining, using a lab-in-the-field experiment in which pairs of participants bargain over the division of a fixed amount of resources. We vary the gender composition of the bargaining pairs as well as the disclosure of the participants' identities. We find gender differences in earnings, agreement and demands, but only when the identities are disclosed. Women in same-gender pairs obtain higher earnings than men and women in mixed-gender pairs. This is the result of the lower likelihood of disagreement among women-only pairs. Women leave more on the bargaining table, conditional on their beliefs, which contributes to the lower disagreement and higher earnings among women-only pairs.
{"title":"The Effect of Gender and Gender Pairing on Bargaining: Evidence from an Artefactual Field Experiment","authors":"Ben d’Exelle, Christine Gutekunst, A. Riedl","doi":"10.2139/ssrn.3740457","DOIUrl":"https://doi.org/10.2139/ssrn.3740457","url":null,"abstract":"Men and women negotiate differently, which might create gender inequality in access to resources as well as efficiency losses due to disagreement. We study the role of gender and gender pairing in bilateral bargaining, using a lab-in-the-field experiment in which pairs of participants bargain over the division of a fixed amount of resources. We vary the gender composition of the bargaining pairs as well as the disclosure of the participants' identities. We find gender differences in earnings, agreement and demands, but only when the identities are disclosed. Women in same-gender pairs obtain higher earnings than men and women in mixed-gender pairs. This is the result of the lower likelihood of disagreement among women-only pairs. Women leave more on the bargaining table, conditional on their beliefs, which contributes to the lower disagreement and higher earnings among women-only pairs.","PeriodicalId":120099,"journal":{"name":"Economic Anthropology eJournal","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114179897","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Carole Comerton-Forde, John P de New, Nicolás Salamanca, D. Ribar, Andrea Nicastro, James Ross
This study develops multi-item scales of the financial wellbeing of customers of a major Australian bank using self-reported survey data that are matched with the customers' financial records. Using Item Response Theory (IRT) models, the study develops: First a Reported Financial Wellbeing Scale that is formed from responses to 10 questions about people's experiences and perceptions of financial outcomes, and second an Observed Financial Wellbeing Scale that is formed from five financial-record measures of customers' account balances, net spending, and payment problems. The IRT models show that each scale reliably differentiates between a wide range of outcomes and that the components within each scale have similar power to discriminate. We validate the scales by estimating Least Absolute Shrinkage and Selection Operator machine-learning models of how they correlate with other measurable characteristics. Savings habits, spending habits, credit card behavior, household income, education, difficulties with housing payments, and the use of and access to social or government support are each associated with both types of financial wellbeing.
{"title":"Measuring Financial Wellbeing with Self-Reported and Bank-Record Data","authors":"Carole Comerton-Forde, John P de New, Nicolás Salamanca, D. Ribar, Andrea Nicastro, James Ross","doi":"10.2139/ssrn.3737273","DOIUrl":"https://doi.org/10.2139/ssrn.3737273","url":null,"abstract":"This study develops multi-item scales of the financial wellbeing of customers of a major Australian bank using self-reported survey data that are matched with the customers' financial records. Using Item Response Theory (IRT) models, the study develops: First a Reported Financial Wellbeing Scale that is formed from responses to 10 questions about people's experiences and perceptions of financial outcomes, and second an Observed Financial Wellbeing Scale that is formed from five financial-record measures of customers' account balances, net spending, and payment problems. The IRT models show that each scale reliably differentiates between a wide range of outcomes and that the components within each scale have similar power to discriminate. We validate the scales by estimating Least Absolute Shrinkage and Selection Operator machine-learning models of how they correlate with other measurable characteristics. Savings habits, spending habits, credit card behavior, household income, education, difficulties with housing payments, and the use of and access to social or government support are each associated with both types of financial wellbeing.","PeriodicalId":120099,"journal":{"name":"Economic Anthropology eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-11-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129176811","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper investigates the conditioning role of R&D employee training on the effect of the stock of technological knowledge on firm R&D productivity. We suggest that R&D employee training enhances firm-specific technological competence, thereby enabling the firm to better utilize the stock of technological knowledge as a source of technological opportunities. Specifically, while a trap of path dependency may hamper the proper utilization of the firm-specific stock of technological knowledge, R&D employee training reinforces the standing-on-the-shoulders effect of the stock of technological knowledge, thereby offsetting, at least partially, its fishing-out effect due to depleting technological opportunities. Using panel data of Korean manufacturing firms, we show R&D employee training positively moderates the effect of the stock of technological knowledge on firm R&D productivity. Furthermore, we suggest several factors that influence the positive moderating effect of R&D employee training such as the degree of knowledge sharing among R&D employees within each firm, the strength of industry R&D appropriability, and the intensity of industry R&D.
{"title":"R&D Employee Training, the Stock of Technological Knowledge, and R&D productivity","authors":"Donggyu Kim, Chang‐Yang Lee","doi":"10.2139/ssrn.3729855","DOIUrl":"https://doi.org/10.2139/ssrn.3729855","url":null,"abstract":"This paper investigates the conditioning role of R&D employee training on the effect of the stock of technological knowledge on firm R&D productivity. We suggest that R&D employee training enhances firm-specific technological competence, thereby enabling the firm to better utilize the stock of technological knowledge as a source of technological opportunities. Specifically, while a trap of path dependency may hamper the proper utilization of the firm-specific stock of technological knowledge, R&D employee training reinforces the standing-on-the-shoulders effect of the stock of technological knowledge, thereby offsetting, at least partially, its fishing-out effect due to depleting technological opportunities. Using panel data of Korean manufacturing firms, we show R&D employee training positively moderates the effect of the stock of technological knowledge on firm R&D productivity. Furthermore, we suggest several factors that influence the positive moderating effect of R&D employee training such as the degree of knowledge sharing among R&D employees within each firm, the strength of industry R&D appropriability, and the intensity of industry R&D.","PeriodicalId":120099,"journal":{"name":"Economic Anthropology eJournal","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-11-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116871693","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We propose a multi-country model with occupational choice, heterogeneous firms, unemployment, and revenue-generating tariffs to study the aggregate and distributional consequences of tariff wars in a unified framework. Motivated by the 2018 global tariff war, we calibrate the model to fit a global economy with four countries, the United States, the European Union, China and the Rest of the World. If governments maximize aggregate welfare, the average optimal tariff and the average Nash-equilibrium tariff are about 16 percent. Multilateral trade negotiations lead to zero cooperative tariffs and free trade. No country can win a trade war. If governments adopt a political-economy perspective and maximize a weighted sum of entrepreneurial and worker interests with weights incorporating factual "autonomous rate" tariffs, then trade talks lead to positive cooperative tariffs in the range of 14 percent for the U.S. to 43 percent for China, and tend to increase unemployment and income inequality.
{"title":"Tariff Wars, Unemployment, and Income Distribution","authors":"E. Dinopoulos, G. Heins, Bulent Unel","doi":"10.2139/ssrn.3789637","DOIUrl":"https://doi.org/10.2139/ssrn.3789637","url":null,"abstract":"We propose a multi-country model with occupational choice, heterogeneous firms, unemployment, and revenue-generating tariffs to study the aggregate and distributional consequences of tariff wars in a unified framework. Motivated by the 2018 global tariff war, we calibrate the model to fit a global economy with four countries, the United States, the European Union, China and the Rest of the World. If governments maximize aggregate welfare, the average optimal tariff and the average Nash-equilibrium tariff are about 16 percent. Multilateral trade negotiations lead to zero cooperative tariffs and free trade. No country can win a trade war. If governments adopt a political-economy perspective and maximize a weighted sum of entrepreneurial and worker interests with weights incorporating factual \"autonomous rate\" tariffs, then trade talks lead to positive cooperative tariffs in the range of 14 percent for the U.S. to 43 percent for China, and tend to increase unemployment and income inequality.","PeriodicalId":120099,"journal":{"name":"Economic Anthropology eJournal","volume":"85 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-11-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115630533","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper studies the role of market structure in regulatory compliance through a unique empirical example: censorship via content removal by three major live-streaming platforms in China. Adopting an event study approach, this paper exploits the unexpected occurrence of 30 salient events over two years and shows that platforms of different sizes censor a different number of keywords with notably different delays. This paper then develops and estimates a structural model where the platform’s profit depends on its own censorship action as well as that of its competitors, induced by the switching behavior of users with heterogeneous preferences for censorship. By complying with the government’s censorship request, platforms may lose users who prefer to evade censorship by switching out. By not complying, platforms incur a cost imposed by the government that is positively correlated with their sizes, but it also allows them to attract new users from their competitors that obey the government’s censorship requests. My counterfactual analysis predicts that centralizing market power via merging or shutting down small platforms could backfire and lead to an unintended consequence where the overall censorship in the marketplace turns out to be lower.
{"title":"Impact of Market Structure on Regulatory Compliance: Evidence from Online Censorship in China","authors":"Z. Liu","doi":"10.2139/ssrn.3723674","DOIUrl":"https://doi.org/10.2139/ssrn.3723674","url":null,"abstract":"This paper studies the role of market structure in regulatory compliance through a unique empirical example: censorship via content removal by three major live-streaming platforms in China. Adopting an event study approach, this paper exploits the unexpected occurrence of 30 salient events over two years and shows that platforms of different sizes censor a different number of keywords with notably different delays. This paper then develops and estimates a structural model where the platform’s profit depends on its own censorship action as well as that of its competitors, induced by the switching behavior of users with heterogeneous preferences for censorship. By complying with the government’s censorship request, platforms may lose users who prefer to evade censorship by switching out. By not complying, platforms incur a cost imposed by the government that is positively correlated with their sizes, but it also allows them to attract new users from their competitors that obey the government’s censorship requests. My counterfactual analysis predicts that centralizing market power via merging or shutting down small platforms could backfire and lead to an unintended consequence where the overall censorship in the marketplace turns out to be lower.","PeriodicalId":120099,"journal":{"name":"Economic Anthropology eJournal","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-11-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115529645","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Does the FIFA World Cup boost the economy? Can a host country capitalise on a ‘high life’? The following paper develops, besides a valid econometric analysis, the factor ϕ for World Cup-specific effects on GDP per capita growth.This econometric approach uses multiple regression models. Both, first a Fixed-Effects-OLS and then GMM estimations are used to render the possibility to outline in detail World Cup-specific effects on GDP per capita growth and its three-year moving average. My investigation period covers the World Cups between 1962 and 2010. Based on in-depth analysis and the proof of a structural break, the period is subsequently split into two subperiods: World Cups 1962-1986 and World Cups 1990-2010. As peer-reviewed research has stated previously, there is no significant result for host variable ϕ for the whole period. After accounting for the structural break, results change: Pre-1990 era shows statistically significant negative results, annually (-4.6), whereas the post-1990 era shows statistically highly significant positive results: +1.1.These innovative findings indicate, accounting for a structural break at World Cup 1990 is necessary for the analysis of economic effects. Reasons can be the increased popularity of the tournament, but mainly the commercialisation of the tournament transcending into the world of entertainment.
{"title":"High Life – New Empirical Evidence on the Economic Boost of the FIFA World Cup","authors":"M. Fett","doi":"10.2139/ssrn.3716403","DOIUrl":"https://doi.org/10.2139/ssrn.3716403","url":null,"abstract":"Does the FIFA World Cup boost the economy? Can a host country capitalise on a ‘high life’? The following paper develops, besides a valid econometric analysis, the factor ϕ for World Cup-specific effects on GDP per capita growth.This econometric approach uses multiple regression models. Both, first a Fixed-Effects-OLS and then GMM estimations are used to render the possibility to outline in detail World Cup-specific effects on GDP per capita growth and its three-year moving average. My investigation period covers the World Cups between 1962 and 2010. Based on in-depth analysis and the proof of a structural break, the period is subsequently split into two subperiods: World Cups 1962-1986 and World Cups 1990-2010. As peer-reviewed research has stated previously, there is no significant result for host variable ϕ for the whole period. After accounting for the structural break, results change: Pre-1990 era shows statistically significant negative results, annually (-4.6), whereas the post-1990 era shows statistically highly significant positive results: +1.1.These innovative findings indicate, accounting for a structural break at World Cup 1990 is necessary for the analysis of economic effects. Reasons can be the increased popularity of the tournament, but mainly the commercialisation of the tournament transcending into the world of entertainment.","PeriodicalId":120099,"journal":{"name":"Economic Anthropology eJournal","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-10-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116728922","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In today's highly competitive business environments, organizations tend to become more sensitive and responsive to the changing needs of customers. Inculcating and continually strengthening 'customer focus' is essential for achieving and sustaining competitive advantages for the organizations. The seven Cs framework and research propositions developed in this research is an actionable model for building a customer focused strategy in organizations. With this framework significant steps can be taken to strengthen an organization's customer focus. A strong customer focused strategy exhibits high ratings on all seven Cs: CEO leadership, collaborative approach, compensation system, customer insight, criteria for decisions, competitor awareness and a deep organizational commitment and contribution of all functions to creation of superior customer value, profitably. Research discusses customer focused strategy at Zappos and also provides numerical illustrations to calculate increase in firm valuation for a customer focused organization.
{"title":"Building a Customer Focused Strategy: Developing Conceptual Frameworks and Research Propositions","authors":"Pankaj M. Madhani","doi":"10.2139/ssrn.3717410","DOIUrl":"https://doi.org/10.2139/ssrn.3717410","url":null,"abstract":"In today's highly competitive business environments, organizations tend to become more sensitive and responsive to the changing needs of customers. Inculcating and continually strengthening 'customer focus' is essential for achieving and sustaining competitive advantages for the organizations. The seven Cs framework and research propositions developed in this research is an actionable model for building a customer focused strategy in organizations. With this framework significant steps can be taken to strengthen an organization's customer focus. A strong customer focused strategy exhibits high ratings on all seven Cs: CEO leadership, collaborative approach, compensation system, customer insight, criteria for decisions, competitor awareness and a deep organizational commitment and contribution of all functions to creation of superior customer value, profitably. Research discusses customer focused strategy at Zappos and also provides numerical illustrations to calculate increase in firm valuation for a customer focused organization.","PeriodicalId":120099,"journal":{"name":"Economic Anthropology eJournal","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-10-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126845240","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
How does global warming affect firms’ activities? We consider this issue from the perspective of the electricity producing industry. Warmer temperatures increase the demand for air conditioning, the use of which fluctuates substantially over time, making investments in “flexible” power plants that can be turned on quickly and at low cost more valuable. Using an international sample of planned power plants, we estimate that hotter weather in a region leads utilities to increase their investments in flexible power plants. This effect appears to be driven by long-term changes in climate rather than abnormally high temperatures that occur over a short period. While these results are specific to the electricity industry, it is likely that climate change will require similar adjustments of firms’ assets in other industries as well.
{"title":"Climate Change and Corporate Investments: Evidence from Planned Power Plants","authors":"Chen Lin, Thomas Schmid, M. Weisbach","doi":"10.2139/ssrn.3478625","DOIUrl":"https://doi.org/10.2139/ssrn.3478625","url":null,"abstract":"How does global warming affect firms’ activities? We consider this issue from the perspective of the<br>electricity producing industry. Warmer temperatures increase the demand for air conditioning, the use of which fluctuates substantially over time, making investments in “flexible” power plants that can be turned on quickly and at low cost more valuable. Using an international sample of planned power plants, we estimate that hotter weather in a region leads utilities to increase their investments in flexible power plants. This effect appears to be driven by long-term changes in climate rather than abnormally high temperatures that occur over a short period. While these results are specific to the electricity industry, it is likely that climate change will require similar adjustments of firms’ assets in other industries as well.","PeriodicalId":120099,"journal":{"name":"Economic Anthropology eJournal","volume":"117 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-09-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121197026","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We incorporate the extended version of Nash bargaining proposed by Vartiainen (2007) in a standard labour search and matching model to endogenously determine the outside option of workers along with their wages. We find that the optimal outside option of a worker under this framework is zero and this equilibrium maximizes social welfare when the economy is constrained efficient.
{"title":"Labour Search with Endogenous Outside Option","authors":"Ritesh Jain, Srinivasan Murali","doi":"10.2139/ssrn.3678453","DOIUrl":"https://doi.org/10.2139/ssrn.3678453","url":null,"abstract":"We incorporate the extended version of Nash bargaining proposed by Vartiainen (2007) in a standard labour search and matching model to endogenously determine the outside option of workers along with their wages. We find that the optimal outside option of a worker under this framework is zero and this equilibrium maximizes social welfare when the economy is constrained efficient.<br>","PeriodicalId":120099,"journal":{"name":"Economic Anthropology eJournal","volume":"37 6","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114111226","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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