Realism theory as defined being selfish and institutions pushing their own agendas while in multilateralism institutions are more concerned with co-operation and togetherness in whatever they do. This literature review revealed that the multilateral institutions of development are more self and self-centered in their engagement and behaviors. This proves the relevance of realism theory as it is noted through the formulation of policies and development agendas that favor their goals. These institution co-fund anything that other the so called stronger and developed nations want. However, there are also some form of multilateralism in the multilateral institutions as there is togetherness when it comes to dealing with other development impediments that affect the globe. These institutions have come up with agreed standards that govern the world and liberalism.
{"title":"Realism Theory VS Multilateralism Theory: A Clear Analysis Of The Behaviors Of Multilateral Institutions Of Development.","authors":"Prince Mathe","doi":"10.2139/ssrn.3933782","DOIUrl":"https://doi.org/10.2139/ssrn.3933782","url":null,"abstract":"Realism theory as defined being selfish and institutions pushing their own agendas while in multilateralism institutions are more concerned with co-operation and togetherness in whatever they do. This literature review revealed that the multilateral institutions of development are more self and self-centered in their engagement and behaviors. This proves the relevance of realism theory as it is noted through the formulation of policies and development agendas that favor their goals. These institution co-fund anything that other the so called stronger and developed nations want. However, there are also some form of multilateralism in the multilateral institutions as there is togetherness when it comes to dealing with other development impediments that affect the globe. These institutions have come up with agreed standards that govern the world and liberalism.","PeriodicalId":133518,"journal":{"name":"Norwegian School of Economics","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130219957","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 provide nationwide causal estimates of digital financial inclusion’s (DFI) effect on air pollution in the short term for China from 2014 to 2018. Using distance to Xihu District as an instrument, 1% gain of DFI increases air pollution by 0.36%. The baseline result is strongly robust to various checks. The coverage breadth and usage depth of DFI increase pollution, with the elasticity of 0.39 and 0.37 respectively, whereas the digitization level of DFI lowers pollution, with the elasticity of -1.42. The heterogeneous short-run effect of DFI can be attributed to a multitude of channels, including pollution standard, geographical factors, population density, development gaps and international trade.
{"title":"Digital financial inclusion and air pollution: Nationwide evidence of China","authors":"Xiaodong Chen","doi":"10.2139/ssrn.3926895","DOIUrl":"https://doi.org/10.2139/ssrn.3926895","url":null,"abstract":"We provide nationwide causal estimates of digital financial inclusion’s (DFI) effect on air pollution in the short term for China from 2014 to 2018. Using distance to Xihu District as an instrument, 1% gain of DFI increases air pollution by 0.36%. The baseline result is strongly robust to various checks. The coverage breadth and usage depth of DFI increase pollution, with the elasticity of 0.39 and 0.37 respectively, whereas the digitization level of DFI lowers pollution, with the elasticity of -1.42. The heterogeneous short-run effect of DFI can be attributed to a multitude of channels, including pollution standard, geographical factors, population density, development gaps and international trade.","PeriodicalId":133518,"journal":{"name":"Norwegian School of Economics","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134623693","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}
The maritime industry is always at the forefront of knowledge and new technology. In recent years, the companies have used large resources in research and development (R&D) towards environmentally friendly technology. At the same time, there exist many issues around this: are those companies enough good at the utilizing of R&D fonds, i.e., do they put new technology together with solutions that are best adapted to the customer requirements (export-oriented), on the one hand, and are they efficient and sustainable, on another hand? Hence, the current paper aims to study how the R&D costs contribute to value creation and sustainable transition in the maritime industry. To achieve this goal, R&D activities in the maritime industry were analyzed using correlation and linear regression analyses between 2010 and 2019. The results show that those indicators that have the greatest positive impact on value-added are R&D expenditures in the business enterprise sector and turnover from product innovations. Also, it was revealed that there is a negative impact of trade indicators on value creation. In addition, the study proves that R&D activities are contributing to the sustainable transition of the maritime industry. Overall, it was concluded that without sufficient public support, strategy, and new business models, export-oriented industries benefit less from innovation. Acknowledgment The study is supported by a grant from the Research Based Innovation “SFI Marine Operation in Virtual Environment (SFI-MOVE)” (Project no: 237929) in Norway.
{"title":"Evaluation of R&D activities in the maritime industry: Managing sustainability transitions through business model","authors":"Viktoriia Koilo","doi":"10.2139/ssrn.3921341","DOIUrl":"https://doi.org/10.2139/ssrn.3921341","url":null,"abstract":"The maritime industry is always at the forefront of knowledge and new technology. In recent years, the companies have used large resources in research and development (R&D) towards environmentally friendly technology. At the same time, there exist many issues around this: are those companies enough good at the utilizing of R&D fonds, i.e., do they put new technology together with solutions that are best adapted to the customer requirements (export-oriented), on the one hand, and are they efficient and sustainable, on another hand? Hence, the current paper aims to study how the R&D costs contribute to value creation and sustainable transition in the maritime industry. To achieve this goal, R&D activities in the maritime industry were analyzed using correlation and linear regression analyses between 2010 and 2019. The results show that those indicators that have the greatest positive impact on value-added are R&D expenditures in the business enterprise sector and turnover from product innovations. Also, it was revealed that there is a negative impact of trade indicators on value creation. In addition, the study proves that R&D activities are contributing to the sustainable transition of the maritime industry. Overall, it was concluded that without sufficient public support, strategy, and new business models, export-oriented industries benefit less from innovation.\u0000Acknowledgment The study is supported by a grant from the Research Based Innovation “SFI Marine Operation in Virtual Environment (SFI-MOVE)” (Project no: 237929) in Norway.","PeriodicalId":133518,"journal":{"name":"Norwegian School of Economics","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130730569","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}
Charlotte B. Evensen, Frode Steen, Simen A. Ulsaker
We analyze 69 entries and relocations by the Norwegian discount variety chain Europris during the period 2016 to 2019. We measure how its location choices affect local grocery stores’ performance, using a diff-in-diff strategy and data from a large Norwegian grocery chain. We combine detailed data on local grocery stores’ sales, traffic and travelling distance to new or relocated Europris stores. We find that entries and relocations have significant effects, suggesting an S-shaped relationship; sufficiently close entries increase local demand since more customers are attracted to the market, but, as the distance increases, the competitive effect of a new discount variety store dominates, and local grocery sales and traffic are reduced. As we move further away, the entry effect is gradually reduced to zero. We show that this empirical finding can be squared with a simple theoretical model. Our results confirm theoretical conjectures on agglomeration forces and competitive effects from local competition.
{"title":"Co-location, Good, Bad or Both: How Does New Entry of Discount Variety Store Affect Local Grocery Business?","authors":"Charlotte B. Evensen, Frode Steen, Simen A. Ulsaker","doi":"10.2139/ssrn.3919580","DOIUrl":"https://doi.org/10.2139/ssrn.3919580","url":null,"abstract":"We analyze 69 entries and relocations by the Norwegian discount variety chain Europris during the period 2016 to 2019. We measure how its location choices affect local grocery stores’ performance, using a diff-in-diff strategy and data from a large Norwegian grocery chain. We combine detailed data on local grocery stores’ sales, traffic and travelling distance to new or relocated Europris stores. We find that entries and relocations have significant effects, suggesting an S-shaped relationship; sufficiently close entries increase local demand since more customers are attracted to the market, but, as the distance increases, the competitive effect of a new discount variety store dominates, and local grocery sales and traffic are reduced. As we move further away, the entry effect is gradually reduced to zero. We show that this empirical finding can be squared with a simple theoretical model. Our results confirm theoretical conjectures on agglomeration forces and competitive effects from local competition.","PeriodicalId":133518,"journal":{"name":"Norwegian School of Economics","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115890883","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}
Theologos Dergiades, C. Milas, Theodore Panagiotidis
This paper considers the role of non-pharmaceutical interventions (NPIs) and economic support measures (ESM) in affecting excess unemployment insurance claims in the U.S. Using a panel Vector AutoRegressive specification, we find that unemployment claims are significantly affected by both policies (NPIs and ESM), and that economic support measures mitigate partially the negative labor market consequences of NPIs.
{"title":"Unemployment Claims, COVID-19 Restrictions and Economic Support Measures in the U.S.","authors":"Theologos Dergiades, C. Milas, Theodore Panagiotidis","doi":"10.2139/ssrn.3918769","DOIUrl":"https://doi.org/10.2139/ssrn.3918769","url":null,"abstract":"This paper considers the role of non-pharmaceutical interventions (NPIs) and economic support measures (ESM) in affecting excess unemployment insurance claims in the U.S. Using a panel Vector AutoRegressive specification, we find that unemployment claims are significantly affected by both policies (NPIs and ESM), and that economic support measures mitigate partially the negative labor market consequences of NPIs.","PeriodicalId":133518,"journal":{"name":"Norwegian School of Economics","volume":"60 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-09-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114379446","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}
Whether and how the design and enforcement of laws exerts a profound influence on innovation activities has been the central subject of study in a wide spectrum of disciplines. This paper examines the role of the social insurance law in driving corporate innovation. We consider a simple model wherein inventors transfer knowledge from one firm to another by job hopping and argue that mandatory social insurance contributions may decrease the mobility of inventors. This could implicitly incentivize firms to invest more in research and development (R&D), resulting in more patent output. To identify the incentive effect of social insurance law empirically, we examine data from China's A-share publicly listed firms for 2007-2017 and conduct a difference-in-differences estimation based on the enactment of China's Social Insurance Law in 2011. The empirical results were found to be consistent with the predictions of our theory.
{"title":"Incentive Effects of Social Insurance Law on Corporate Innovation: Theory and Evidence","authors":"Guanchun Liu, Yanren Zhang","doi":"10.2139/ssrn.3895738","DOIUrl":"https://doi.org/10.2139/ssrn.3895738","url":null,"abstract":"Whether and how the design and enforcement of laws exerts a profound influence on innovation activities has been the central subject of study in a wide spectrum of disciplines. This paper examines the role of the social insurance law in driving corporate innovation. We consider a simple model wherein inventors transfer knowledge from one firm to another by job hopping and argue that mandatory social insurance contributions may decrease the mobility of inventors. This could implicitly incentivize firms to invest more in research and development (R&D), resulting in more patent output. To identify the incentive effect of social insurance law empirically, we examine data from China's A-share publicly listed firms for 2007-2017 and conduct a difference-in-differences estimation based on the enactment of China's Social Insurance Law in 2011. The empirical results were found to be consistent with the predictions of our theory.","PeriodicalId":133518,"journal":{"name":"Norwegian School of Economics","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121681107","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}
The present paper seeks to explain how ethics and values in public policy can be result of different historical contingencies. Specifically, it explains the accomplishment of petroleum resource management in Norway. The main argument is that the success of this policy is an understanding of the ethics behind harvesting the resource rent of this non-renewable natural resource. To support the argument, the paper firstly describes a model of Recardian resource rent. Secondly, it investigates the set of values that were in place before the petroleum production started in the 1970s, as described in the influential white paper, “The role of petroleum activities in the Norwegian Society,” published in 1974. In the white paper, the government discussed the future opportunities, challenges, and responsibilities associated with the oil industry and how this would transform society. An important part of the white paper revealed the main ethical vision of the government, i.e., to build a “qualitatively better society” for the benefit of the people. Thirdly, the paper traces the historical roots of these values.
{"title":"Public policy, resource rent and ethics: The case of the Norwegian petroleum industry","authors":"John A. Hunnes, Ola Grytten","doi":"10.2139/ssrn.3848450","DOIUrl":"https://doi.org/10.2139/ssrn.3848450","url":null,"abstract":"The present paper seeks to explain how ethics and values in public policy can be result of different historical contingencies. Specifically, it explains the accomplishment of petroleum resource management in Norway. The main argument is that the success of this policy is an understanding of the ethics behind harvesting the resource rent of this non-renewable natural resource. <br>To support the argument, the paper firstly describes a model of Recardian resource rent. Secondly, it investigates the set of values that were in place before the petroleum production started in the 1970s, as described in the influential white paper, “The role of petroleum activities in the Norwegian Society,” published in 1974. In the white paper, the government discussed the future opportunities, challenges, and responsibilities associated with the oil industry and how this would transform society. An important part of the white paper revealed the main ethical vision of the government, i.e., to build a “qualitatively better society” for the benefit of the people. Thirdly, the paper traces the historical roots of these values. <br>","PeriodicalId":133518,"journal":{"name":"Norwegian School of Economics","volume":"116 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-05-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125346557","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}
Based on the work of Jean Fourastié, accountant and economist, this article seeks to show that the origins of double-entry bookkeeping are the result of several successive innovations that appeared in Italian commercial enterprises between the 13th and 14th centuries in response to the development of credit and receivables. The three successful innovations that led to the invention of double-entry bookkeeping are thus analyzed in detail from an accounting and logical point of view. This invention, which will have considerable consequences for the emergence of our modern monetary and banking systems, leads to a precise and efficient definition of value, which we still depend on today, especially to understand financial crises.
{"title":"The Invention of Double-Entry Bookkeeping","authors":"Maxime Izoulet","doi":"10.2139/ssrn.3853815","DOIUrl":"https://doi.org/10.2139/ssrn.3853815","url":null,"abstract":"Based on the work of Jean Fourastié, accountant and economist, this article seeks to show that the origins of double-entry bookkeeping are the result of several successive innovations that appeared in Italian commercial enterprises between the 13th and 14th centuries in response to the development of credit and receivables. The three successful innovations that led to the invention of double-entry bookkeeping are thus analyzed in detail from an accounting and logical point of view. This invention, which will have considerable consequences for the emergence of our modern monetary and banking systems, leads to a precise and efficient definition of value, which we still depend on today, especially to understand financial crises.","PeriodicalId":133518,"journal":{"name":"Norwegian School of Economics","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128524313","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}
Abstract The ability of oil investment vehicles to perfectly track spot oil has always been challenging , however recently many vehicles have underperformed spot oil. We study the behavior of oil futures and exchange-traded products that invest in oil futures to document and understand the source of this tracking error. The primary reason that oil investment vehicles have underperformed spot oil is due to an increase in contango in oil futures markets that we find might be related to investment crowding and the financialization of commodity markets. We show that from 2006 to 2017 oil futures investing underperformed spot oil and the market was in contango most of the time. Proxies for crowding, such as the concentration of major oil investors and changes in assets under management and fund flows of major oil exchange-traded products are associated with contango in the futures markets and the divergence between futures and spot returns. We also provide evidence of an impact of the financialization on oil futures prices.
{"title":"The Challenges of Oil Investing: Contango and the Financialization of Commodities","authors":"Ludwig B. Chincarini, Fabio Moneta","doi":"10.2139/ssrn.3849464","DOIUrl":"https://doi.org/10.2139/ssrn.3849464","url":null,"abstract":"Abstract The ability of oil investment vehicles to perfectly track spot oil has always been challenging , however recently many vehicles have underperformed spot oil. We study the behavior of oil futures and exchange-traded products that invest in oil futures to document and understand the source of this tracking error. The primary reason that oil investment vehicles have underperformed spot oil is due to an increase in contango in oil futures markets that we find might be related to investment crowding and the financialization of commodity markets. We show that from 2006 to 2017 oil futures investing underperformed spot oil and the market was in contango most of the time. Proxies for crowding, such as the concentration of major oil investors and changes in assets under management and fund flows of major oil exchange-traded products are associated with contango in the futures markets and the divergence between futures and spot returns. We also provide evidence of an impact of the financialization on oil futures prices.","PeriodicalId":133518,"journal":{"name":"Norwegian School of Economics","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127441347","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}
Behzad Soleymanian Asl, R. Solgi, Meysam Davoodabadi Farahani
Distortion of financial statements is recognized as one of the most important issues in the field of accounting and auditing, which is also one of the most common issues today. In this regard, the present research was conducted, in which stock exchange information was used to investigate, predict, and model accounting distortions. For this purpose, financial performance, non-financial metrics, market-based metrics and commitment, or selection items were reviewed over a 6-year period. For collecting data of distorting companies, database of the Society of Certified Public Accountants in Iran was used and the information was analyzed using data mining methods (decision tree, neural networks, and Bayesian method). The results showed that analysis of financial statements҆ information has a high accuracy in determining and identifying the distorted financial statements. Using this information, it is possible to get better acquainted with the methods of document distortion and to take necessary measures in order to control and prevent administrative violations at national and international levels. Given frequent occurrence of these violations, artificial intelligence models can be used to identify these papers.
{"title":"Application of Artificial Intelligence Model to Identify the Distorted Financial Application of Artificial Intelligence Model to Identify the Distorted Financial StatementsStatements","authors":"Behzad Soleymanian Asl, R. Solgi, Meysam Davoodabadi Farahani","doi":"10.2139/ssrn.3921643","DOIUrl":"https://doi.org/10.2139/ssrn.3921643","url":null,"abstract":"Distortion of financial statements is recognized as one of the most important issues in the field of accounting and auditing, which is also one of the most common issues today. In this regard, the present research was conducted, in which stock exchange information was used to investigate, predict, and model accounting distortions. For this purpose, financial performance, non-financial metrics, market-based metrics and commitment, or selection items were reviewed over a 6-year period. For collecting data of distorting companies, database of the Society of Certified Public Accountants in Iran was used and the information was analyzed using data mining methods (decision tree, neural networks, and Bayesian method). The results showed that analysis of financial statements҆ information has a high accuracy in determining and identifying the distorted financial statements. Using this information, it is possible to get better acquainted with the methods of document distortion and to take necessary measures in order to control and prevent administrative violations at national and international levels. Given frequent occurrence of these violations, artificial intelligence models can be used to identify these papers.","PeriodicalId":133518,"journal":{"name":"Norwegian School of Economics","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129095881","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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