Pub Date : 2023-10-28DOI: 10.1080/13571516.2023.2271755
Ren Lu, Fei Zheng, Shan-Na Ma, Ruilin Yang
AbstractThis study examines how regional artificial intelligence (AI) influences firms’ business performance from the viewpoint of economic geography. We employ the instrumental variable method to analyze 3633 American listed companies. We find the “regional AI and business performance” relationship appears in an inverted U-shape. By applying the plausible instrumental variable method, our robustness check suggests that our findings are reliable. Theoretically, our paper enriches current regional AI studies with firm-level evidence; practically, our paper sheds light on how to make firm location decisions in the AI era.Keywords: Artificial intelligencefirm performancereturn on equityAmericaJEL CLASSIFICATION CODES: R11L10 Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1 According to preliminary math using the equation: y = β0+β1X + β2X2, when β2 is significant, then the (inverted) U-shape exists. β0 and β1 can change the position of the (inverted) U-shape in the coordinate axis, but it is β2 that determines the (inverted) U-shape. Therefore, “β1 is insignificant but β2 is significant” never means that the (inverted) U-shape does NOT exist or means that it is an increasing (or decreasing) return.2 We would like to thank our two anonymous reviewers for bringing this to our attention.Additional informationFundingThis paper is financed by the Humanity and Social Science Foundation (grant number: 22YJCZH117), the National Social Science Funds of China (grant number: 22CJL013) and the Innovative Team Project of Guangdong Universities (grant number: 2019WCXTD008).
{"title":"Unpacking the Inverted U-shape between Regional AI and Business Performance","authors":"Ren Lu, Fei Zheng, Shan-Na Ma, Ruilin Yang","doi":"10.1080/13571516.2023.2271755","DOIUrl":"https://doi.org/10.1080/13571516.2023.2271755","url":null,"abstract":"AbstractThis study examines how regional artificial intelligence (AI) influences firms’ business performance from the viewpoint of economic geography. We employ the instrumental variable method to analyze 3633 American listed companies. We find the “regional AI and business performance” relationship appears in an inverted U-shape. By applying the plausible instrumental variable method, our robustness check suggests that our findings are reliable. Theoretically, our paper enriches current regional AI studies with firm-level evidence; practically, our paper sheds light on how to make firm location decisions in the AI era.Keywords: Artificial intelligencefirm performancereturn on equityAmericaJEL CLASSIFICATION CODES: R11L10 Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1 According to preliminary math using the equation: y = β0+β1X + β2X2, when β2 is significant, then the (inverted) U-shape exists. β0 and β1 can change the position of the (inverted) U-shape in the coordinate axis, but it is β2 that determines the (inverted) U-shape. Therefore, “β1 is insignificant but β2 is significant” never means that the (inverted) U-shape does NOT exist or means that it is an increasing (or decreasing) return.2 We would like to thank our two anonymous reviewers for bringing this to our attention.Additional informationFundingThis paper is financed by the Humanity and Social Science Foundation (grant number: 22YJCZH117), the National Social Science Funds of China (grant number: 22CJL013) and the Innovative Team Project of Guangdong Universities (grant number: 2019WCXTD008).","PeriodicalId":45470,"journal":{"name":"International Journal of the Economics of Business","volume":"290 2","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136160273","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}
Pub Date : 2023-10-09DOI: 10.1080/13571516.2023.2260107
Robert J. Petrunia, Karl Skogstad
AbstractThis paper explores labor productivity in Ontario’s gold mining industry from 1920 to 1970. The gold produced by a worker is nearly identical in 1920 and 1970, suggesting that the industry experiences no productivity gains over this period. Further, labor productivity in the intervening years was nearly 30% lower than these values, raising concerns about the ability of the industry to remain profitable given a fixed gold price. We look at over 180 different Ontario gold mines comprising nearly the entire industry to determine whether workers become less efficient over time, or whether other factors, such as entry and exit into the industry, declining ore quality, or changes in capital stock, are the primary drivers of this stagnation. This analysis considers the impact of events, such as a sudden 70% rise in the price of gold in 1934, World War II, and the post-war subsidization of the industry on productivity within the industry.Keywords: Productivitygold miningOntarioJEL CLASSIFICATION: D22D24L72N52Q3 Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1 See Times (Citation1933).2 See Skogstad (Citation2021) for a detailed description of the gold mining subsidy.3 Huynh and Petrunia (Citation2016) and Petrunia (Citation2007) find that there is a long-term dynamic development process following a firm’s entry.4 Grade refers to the amount of gold present in a ton of ore.5 In 1951, the formula was given by the following:S=0.5 (C−22) (2)where S is the subsidy per ounce, and C is the actual average operating cost per ounce of gold. For example, a mine producing 20,000 ounces of gold, of which half is eligible for the subsidy, at an average cost of $28 per ounce receives a total subsidy of $30,000.6 Knox (Citation1955).7 Kerekes (Citation2011) provides a STATA program to implement the method on our data. Shannon and Moazzami (Citation2014) and Shannon and Moazzami (Citation2015) apply the method to estimate structural breaks in unemployment rates for OECD countries and Canadian provinces, respectively.8 Aydin and Tilton (Citation2000) and Garcia, Knights, and Tilton (Citation2001).
摘要本文研究了1920 ~ 1970年安大略省黄金采矿业的劳动生产率。1920年和1970年,一名工人生产的黄金几乎相同,这表明该行业在此期间没有生产率提高。此外,在此期间的几年里,劳动生产率比这些价值低了近30%,这引发了人们对该行业在固定金价下保持盈利能力的担忧。我们研究了安大略省180多个不同的金矿,几乎涵盖了整个行业,以确定工人是否会随着时间的推移而效率降低,或者其他因素,如进入和退出行业、矿石质量下降或资本存量的变化,是否是这种停滞的主要驱动因素。这种分析考虑了一些事件的影响,比如1934年黄金价格突然上涨70%,第二次世界大战,以及战后对该行业生产率的补贴。关键词:生产力;金矿开采;安大略省jel分类:D22D24L72N52Q3披露声明作者未报告潜在利益冲突。注1参见Times (Citation1933)参见Skogstad (Citation2021)对金矿开采补贴的详细描述Huynh和Petrunia (Citation2016)和Petrunia (Citation2007)发现,企业进入后存在一个长期的动态发展过程品位是指每吨矿石中所含的黄金量。5 1951年,公式为:S=0.5 (C−22)(2),其中S为每盎司黄金的补贴,C为每盎司黄金的实际平均经营成本。例如,一个金矿生产20 000盎司黄金,其中一半有资格获得补贴,平均成本为每盎司28美元,总补贴为30 000 0.6诺克斯(引文1955)Kerekes (Citation2011)提供了一个STATA程序来在我们的数据上实现该方法。Shannon and Moazzami (Citation2014)和Shannon and Moazzami (Citation2015)分别运用该方法估算了经合组织国家和加拿大各省失业率的结构性断裂艾丁和蒂尔顿(Citation2000)和加西亚,骑士和蒂尔顿(Citation2001)。
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Pub Date : 2023-09-02DOI: 10.1080/13571516.2023.2256037
Sonal Dua
AbstractThis paper attempts to explore the motives behind merger and acquisition strategy of Indian corporates. Covering the domestic activity over two decades, 1998--2017, the firm-level determinants of acquiring and acquired firms are studied to analyze the merger motives. The results from Logit and discrete-time hazard model show that firms with higher technological and financial productivity are more likely to go for acquisitions. On the other hand, firms that have potential to grow in the future but are struggling at present owing to low profits or losses are more likely to be acquired. The managements of firms that are not actively involved in research activities are also likely to be replaced. The findings of the article, therefore, suggest that Indian firms are using mergers for expansionary and efficiency-enhancing motives.Keywords: Mergersacquisitionsfirm objectiveslogit and survival analysisIndiaJEL CLASSIFICATION: G34L2 Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1 This statistic has been calculated after excluding the financial services. Following the previous literature (Andrade and Stafford Citation2004; Ali-Yrkkö, Hyytinen, and Pajarinen Citation2005), the financial industry is excluded because of the huge differences in accounting and nature of the financial business.2 Right censoring means that subject has survived through the entire duration of the study. The firm has neither become an acquirer nor been acquired throughout the sample period and therefore, it has not been examined until the duration it becomes involved in a merger.3 The definition of control group here includes non-merging firms only and not the target firms.4 The USD value is based on the exchange rate that prevailed in March, 2023.5 Hüschelrath and Smuda (Citation2013) observed a significant and positive impact of cartels’ breakdown on merger activity, studying cartel cases decided by the European Commission between 2000 and 2011, and a detailed data set of worldwide merger activity.6 They argue that high-insider ownership is a classic feature of Indian businesses. Most Indian firms are largely organized as business groups or family firms, with promoters holding majority stake. This encourages more cash deals and discourages mergers driven by market mis-valuations.7 The likelihood of being an acquirer reaches its maximum for firms with sales growth of around 5%.8 The likelihood of being acquired reaches its maximum for firms with total assets of around Rs 7.3 million.
摘要本文试图探讨印度企业并购战略背后的动因。本文涵盖了1998年至2017年二十年的国内活动,研究了收购公司和被收购公司的公司层面决定因素,以分析合并动机。Logit和离散时间风险模型的结果表明,技术生产率和财务生产率较高的企业更有可能进行收购。另一方面,未来有增长潜力,但目前因低利润或亏损而陷入困境的企业更有可能被收购。不积极参与研究活动的企业管理层也有可能被替换。因此,这篇文章的发现表明,印度公司正在利用合并来扩张和提高效率。关键词:并购公司目标逻辑与生存分析印度ajel分类:G34L2披露声明作者未报告潜在利益冲突。注1本统计数据是在剔除金融服务后计算的。继之前的文献(Andrade and Stafford Citation2004;Ali-Yrkkö, Hyytinen, and Pajarinen Citation2005),由于会计和金融业务性质的巨大差异,金融行业被排除在外正确的审查意味着受试者在整个研究过程中幸存下来。在整个样本期间,该公司既没有成为收购方,也没有被收购,因此,直到该公司参与合并的期间,才对其进行审查这里的控制组的定义只包括未合并的企业,不包括目标企业h schelrath和Smuda (Citation2013)通过研究欧盟委员会在2000年至2011年间裁定的卡特尔案件,以及全球并购活动的详细数据集,观察到卡特尔解体对并购活动的显著积极影响他们认为,高层内部人士的所有权是印度企业的典型特征。大多数印度公司基本上都是商业集团或家族企业,发起人持有多数股份。这鼓励了更多的现金交易,并阻碍了由市场错误估值驱动的合并当公司的销售额增长在5%左右时,成为收购方的可能性达到最大值总资产在730万卢比左右的公司被收购的可能性最大。
{"title":"What Motivates Mergers and Acquisitions in India?","authors":"Sonal Dua","doi":"10.1080/13571516.2023.2256037","DOIUrl":"https://doi.org/10.1080/13571516.2023.2256037","url":null,"abstract":"AbstractThis paper attempts to explore the motives behind merger and acquisition strategy of Indian corporates. Covering the domestic activity over two decades, 1998--2017, the firm-level determinants of acquiring and acquired firms are studied to analyze the merger motives. The results from Logit and discrete-time hazard model show that firms with higher technological and financial productivity are more likely to go for acquisitions. On the other hand, firms that have potential to grow in the future but are struggling at present owing to low profits or losses are more likely to be acquired. The managements of firms that are not actively involved in research activities are also likely to be replaced. The findings of the article, therefore, suggest that Indian firms are using mergers for expansionary and efficiency-enhancing motives.Keywords: Mergersacquisitionsfirm objectiveslogit and survival analysisIndiaJEL CLASSIFICATION: G34L2 Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1 This statistic has been calculated after excluding the financial services. Following the previous literature (Andrade and Stafford Citation2004; Ali-Yrkkö, Hyytinen, and Pajarinen Citation2005), the financial industry is excluded because of the huge differences in accounting and nature of the financial business.2 Right censoring means that subject has survived through the entire duration of the study. The firm has neither become an acquirer nor been acquired throughout the sample period and therefore, it has not been examined until the duration it becomes involved in a merger.3 The definition of control group here includes non-merging firms only and not the target firms.4 The USD value is based on the exchange rate that prevailed in March, 2023.5 Hüschelrath and Smuda (Citation2013) observed a significant and positive impact of cartels’ breakdown on merger activity, studying cartel cases decided by the European Commission between 2000 and 2011, and a detailed data set of worldwide merger activity.6 They argue that high-insider ownership is a classic feature of Indian businesses. Most Indian firms are largely organized as business groups or family firms, with promoters holding majority stake. This encourages more cash deals and discourages mergers driven by market mis-valuations.7 The likelihood of being an acquirer reaches its maximum for firms with sales growth of around 5%.8 The likelihood of being acquired reaches its maximum for firms with total assets of around Rs 7.3 million.","PeriodicalId":45470,"journal":{"name":"International Journal of the Economics of Business","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134968974","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}
Pub Date : 2023-07-12DOI: 10.1080/13571516.2023.2232767
Yoong-Hon Lee
Abstract The motion picture industry is indeed a risky sector. The difficulties in predicting success and the sheer amount of production budgets have led to spectacular failures and in some cases even bankruptcies as well. Despite the adverse nature of the industry, there are winners who not only are able to find success but are also capable of doing it consistently. Using data envelopment analysis and finance-related techniques on risk analysis, I compare the performances among a group of major film distributors/studios. I find that one studio, i.e. Disney, consistently operates on the efficient frontier and performed best when it comes to the risk and return analysis. Its strategies are distinct in that it focuses on fewer movies but bigger budgets per movie. It also restricts the genre of movies, with a significant weightage on PG- and PG-13 rated adventure films, with almost all of them, part of serialised franchises.
{"title":"Efficiency in Film Distribution","authors":"Yoong-Hon Lee","doi":"10.1080/13571516.2023.2232767","DOIUrl":"https://doi.org/10.1080/13571516.2023.2232767","url":null,"abstract":"Abstract The motion picture industry is indeed a risky sector. The difficulties in predicting success and the sheer amount of production budgets have led to spectacular failures and in some cases even bankruptcies as well. Despite the adverse nature of the industry, there are winners who not only are able to find success but are also capable of doing it consistently. Using data envelopment analysis and finance-related techniques on risk analysis, I compare the performances among a group of major film distributors/studios. I find that one studio, i.e. Disney, consistently operates on the efficient frontier and performed best when it comes to the risk and return analysis. Its strategies are distinct in that it focuses on fewer movies but bigger budgets per movie. It also restricts the genre of movies, with a significant weightage on PG- and PG-13 rated adventure films, with almost all of them, part of serialised franchises.","PeriodicalId":45470,"journal":{"name":"International Journal of the Economics of Business","volume":"14 1","pages":"273 - 292"},"PeriodicalIF":1.2,"publicationDate":"2023-07-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86087170","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}
Pub Date : 2023-07-11DOI: 10.1080/13571516.2023.2231176
Rimvie Enoc Kaboré
Abstract The paper seeks to understand the pattern of manufacturing exports in 35 developed and developing countries and 99 industrial sectors over the period 1999-2013 using a methodological approach that relies on propositions of the neoclassical trade theory. Next to the impact of traditional factors such as the endowment of public capital, we look at the importance of accounting for public capital heterogeneity, by distinguishing countries based on their proximity to the technology frontier. We consider public capital as a non-rival factor, which has a property of “creation of atmosphere” in a model that treats factor intensity as a mechanism of industrial development. We use the system GMM technique to estimate the elasticities of public capital. Our results show that public capital plays a differentiated role in the capacity to export industrial goods depending on whether countries are far or close to the technological frontier.
{"title":"Manufacturing Export Performance, Public Capital and Proximity to the Technological Frontier of Countries*","authors":"Rimvie Enoc Kaboré","doi":"10.1080/13571516.2023.2231176","DOIUrl":"https://doi.org/10.1080/13571516.2023.2231176","url":null,"abstract":"Abstract The paper seeks to understand the pattern of manufacturing exports in 35 developed and developing countries and 99 industrial sectors over the period 1999-2013 using a methodological approach that relies on propositions of the neoclassical trade theory. Next to the impact of traditional factors such as the endowment of public capital, we look at the importance of accounting for public capital heterogeneity, by distinguishing countries based on their proximity to the technology frontier. We consider public capital as a non-rival factor, which has a property of “creation of atmosphere” in a model that treats factor intensity as a mechanism of industrial development. We use the system GMM technique to estimate the elasticities of public capital. Our results show that public capital plays a differentiated role in the capacity to export industrial goods depending on whether countries are far or close to the technological frontier.","PeriodicalId":45470,"journal":{"name":"International Journal of the Economics of Business","volume":"25 1","pages":"233 - 272"},"PeriodicalIF":1.2,"publicationDate":"2023-07-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78207562","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}
Pub Date : 2023-06-01DOI: 10.1080/13571516.2023.2213127
António Miguel Martins, C. Pires
Abstract This study examines the effect of CEO characteristics such as gender, age, tenure, functional background, stock ownership, compensation scheme and dual role on the stock market returns of automobile companies, around the announcement of product recalls. Using an event study, for a sample of 2,576 product recalls in the US automobile industry, between January 2010 and June 2021, we observe that the stock market’s reaction to a product recall announcement is negative. However, the impacts on the cumulative abnormal returns around the announcement of product recalls of the company’s CEO being female, the CEO tenure, the CEO having an operations or marketing background, the ratio of CEO long-term compensation to total compensation and the CEO and Chairperson being the same person are all positive and statistically significant, showing that these CEO characteristics mitigate the negative effects on a company’s financial value caused by product recalls.
{"title":"Do CEO Characteristics Matter in Product Recalls?","authors":"António Miguel Martins, C. Pires","doi":"10.1080/13571516.2023.2213127","DOIUrl":"https://doi.org/10.1080/13571516.2023.2213127","url":null,"abstract":"Abstract This study examines the effect of CEO characteristics such as gender, age, tenure, functional background, stock ownership, compensation scheme and dual role on the stock market returns of automobile companies, around the announcement of product recalls. Using an event study, for a sample of 2,576 product recalls in the US automobile industry, between January 2010 and June 2021, we observe that the stock market’s reaction to a product recall announcement is negative. However, the impacts on the cumulative abnormal returns around the announcement of product recalls of the company’s CEO being female, the CEO tenure, the CEO having an operations or marketing background, the ratio of CEO long-term compensation to total compensation and the CEO and Chairperson being the same person are all positive and statistically significant, showing that these CEO characteristics mitigate the negative effects on a company’s financial value caused by product recalls.","PeriodicalId":45470,"journal":{"name":"International Journal of the Economics of Business","volume":"17 1","pages":"207 - 232"},"PeriodicalIF":1.2,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80271903","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}
Pub Date : 2023-05-02DOI: 10.1080/13571516.2023.2205340
Steven C. Michael
Abstract Entrepreneurial firms are often founded by uniquely talented individuals. Given that talent does not always beget talent, succession can be challenging. An analytical model is used to explore dynamic tradeoffs of competence in the choice between an insider and an outsider in the succession of a talented individual. The model is illustrated with an application to family business.
{"title":"Following the Talent in Entrepreneurial Firms","authors":"Steven C. Michael","doi":"10.1080/13571516.2023.2205340","DOIUrl":"https://doi.org/10.1080/13571516.2023.2205340","url":null,"abstract":"Abstract Entrepreneurial firms are often founded by uniquely talented individuals. Given that talent does not always beget talent, succession can be challenging. An analytical model is used to explore dynamic tradeoffs of competence in the choice between an insider and an outsider in the succession of a talented individual. The model is illustrated with an application to family business.","PeriodicalId":45470,"journal":{"name":"International Journal of the Economics of Business","volume":"16 1","pages":"123 - 138"},"PeriodicalIF":1.2,"publicationDate":"2023-05-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75652548","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}
Pub Date : 2023-02-24DOI: 10.1080/13571516.2023.2176636
Phil Kerpen, Stephen Moore, Casey B. Mulligan
Two and a half years ago COVID-19 spread to the United States. Following the federalism model (New State Ice Co. vs Liebmann; Cheng and Lee 2019 Cheng, Chen, and Christopher Lee. 2019. Laboratories of Democracy: Policy Experimentation under Decentralization. American Economic Journal: Microeconomics 11 (3): 125–154. doi:10.1257/mic.20160257.[Crossref], [Web of Science ®] , [Google Scholar]), the 50 states and their governors and legislators made many of their own pandemic policy choices to mitigate the damage from the virus. States learned from one another over time about what policies worked most and least effectively in terms of containing the virus while minimizing the negative effects of lockdown strategies on businesses and children.This study is an expanded and updated version of an October 2020 report card of how pandemic health, economy, and policy varied across the 50 states and the District of Columbia (Committee to Unleash Prosperity 2020 Committee to Unleash Prosperity. 2020. “Grading Our Governors: A Report Card on Reopening States’ Economies.” https://committeetounleashprosperity.com/wp-content/uploads/2020/10/Governors-Report-Card-Updated1.pdf [Google Scholar]). It examines three variables: health outcomes, economic performance throughout the pandemic, and impact on education. We find no relationship between reduced economic activity during the pandemic and mortality.
两年半前,COVID-19传播到美国。遵循联邦制模式(New State Ice Co.诉Liebmann;Cheng, Chen, and Christopher Lee, 2019。民主的实验室:权力下放下的政策实验。《经济研究》(3):1 - 4。doi: 10.1257 / mic.20160257。[Crossref], [Web of Science®],[Google Scholar]), 50个州及其州长和立法者做出了许多自己的流行病政策选择,以减轻病毒的损害。随着时间的推移,各国相互了解哪些政策在遏制病毒方面最有效,哪些政策最无效,同时最大限度地减少封锁战略对企业和儿童的负面影响。本研究是2020年10月报告卡的扩展和更新版本,该报告卡显示了50个州和哥伦比亚特区的大流行卫生、经济和政策如何变化(2020年释放繁荣委员会)。“给我们的州长评分:重新开放各州经济的成绩单。”https://committeetounleashprosperity.com/wp-content/uploads/2020/10/Governors-Report-Card-Updated1.pdf [Google Scholar])。它审查了三个变量:健康结果、疫情期间的经济表现以及对教育的影响。我们发现大流行期间经济活动减少与死亡率之间没有关系。
{"title":"A Final Report Card on the States’ Response to COVID-19<sup>1</sup>","authors":"Phil Kerpen, Stephen Moore, Casey B. Mulligan","doi":"10.1080/13571516.2023.2176636","DOIUrl":"https://doi.org/10.1080/13571516.2023.2176636","url":null,"abstract":"Two and a half years ago COVID-19 spread to the United States. Following the federalism model (New State Ice Co. vs Liebmann; Cheng and Lee 2019 Cheng, Chen, and Christopher Lee. 2019. Laboratories of Democracy: Policy Experimentation under Decentralization. American Economic Journal: Microeconomics 11 (3): 125–154. doi:10.1257/mic.20160257.[Crossref], [Web of Science ®] , [Google Scholar]), the 50 states and their governors and legislators made many of their own pandemic policy choices to mitigate the damage from the virus. States learned from one another over time about what policies worked most and least effectively in terms of containing the virus while minimizing the negative effects of lockdown strategies on businesses and children.This study is an expanded and updated version of an October 2020 report card of how pandemic health, economy, and policy varied across the 50 states and the District of Columbia (Committee to Unleash Prosperity 2020 Committee to Unleash Prosperity. 2020. “Grading Our Governors: A Report Card on Reopening States’ Economies.” https://committeetounleashprosperity.com/wp-content/uploads/2020/10/Governors-Report-Card-Updated1.pdf [Google Scholar]). It examines three variables: health outcomes, economic performance throughout the pandemic, and impact on education. We find no relationship between reduced economic activity during the pandemic and mortality.","PeriodicalId":45470,"journal":{"name":"International Journal of the Economics of Business","volume":"206 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136146776","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}
Pub Date : 2023-02-11DOI: 10.1080/13571516.2023.2168996
A. Gomez-Sanchez, E. L. Rosero-Ceballos, Daniel Andres Mosquera
Abstract The objective of this paper is to explore the ICT impact on firm’s import decision and on firm’s performance in import markets in Colombian manufacturing. This is the first document exploring this linkage in Latin America. We analyse firms’ imports of raw materials (not exports as the tradition) because of the decisive role imports play in firms’ exports. To deal with the problem of sample selection bias we replicate the Tobit II-Heckman procedure, by using a dynamic random effects probit model with panel data for decision process and a dynamic Generalized Linear Model (GLM) for performance process including Mills ratio. We include the influence of exports on imports, the initial conditions problem and the depreciation pattern of import experience. Our main results reveal a strong and direct impact of ICT on imports, especially for SMEs. Other results also suggest sunk costs/persistence, self-selection, cross-effects, and a decreasing import experience.
{"title":"Imports-ICT Linkage in Colombian Manufacturing","authors":"A. Gomez-Sanchez, E. L. Rosero-Ceballos, Daniel Andres Mosquera","doi":"10.1080/13571516.2023.2168996","DOIUrl":"https://doi.org/10.1080/13571516.2023.2168996","url":null,"abstract":"Abstract The objective of this paper is to explore the ICT impact on firm’s import decision and on firm’s performance in import markets in Colombian manufacturing. This is the first document exploring this linkage in Latin America. We analyse firms’ imports of raw materials (not exports as the tradition) because of the decisive role imports play in firms’ exports. To deal with the problem of sample selection bias we replicate the Tobit II-Heckman procedure, by using a dynamic random effects probit model with panel data for decision process and a dynamic Generalized Linear Model (GLM) for performance process including Mills ratio. We include the influence of exports on imports, the initial conditions problem and the depreciation pattern of import experience. Our main results reveal a strong and direct impact of ICT on imports, especially for SMEs. Other results also suggest sunk costs/persistence, self-selection, cross-effects, and a decreasing import experience.","PeriodicalId":45470,"journal":{"name":"International Journal of the Economics of Business","volume":"37 1","pages":"185 - 205"},"PeriodicalIF":1.2,"publicationDate":"2023-02-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78896005","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}
Pub Date : 2023-02-11DOI: 10.1080/13571516.2023.2173933
Thanh Ngo, K. Tsui
Abstract This study investigates the price reaction in a duopolistic market where two airlines (a full-service and a low-cost carrier) dominate the domestic aviation market. Utilising a rich dataset of 53,463 matched airfares for Air New Zealand and Jetstar in New Zealand from September to December 2019, we found a U-shaped relationship (from Jetstar to Air New Zealand) and an inverted U-shaped relationship (from Air New Zealand to Jetstar) between the two airfares. While distinguishing their different business models, such behaviour has not been empirically discussed in the literature. This study can be extended to larger and more complex markets.
{"title":"Price reaction in New Zealand’s duopolistic airline market","authors":"Thanh Ngo, K. Tsui","doi":"10.1080/13571516.2023.2173933","DOIUrl":"https://doi.org/10.1080/13571516.2023.2173933","url":null,"abstract":"Abstract This study investigates the price reaction in a duopolistic market where two airlines (a full-service and a low-cost carrier) dominate the domestic aviation market. Utilising a rich dataset of 53,463 matched airfares for Air New Zealand and Jetstar in New Zealand from September to December 2019, we found a U-shaped relationship (from Jetstar to Air New Zealand) and an inverted U-shaped relationship (from Air New Zealand to Jetstar) between the two airfares. While distinguishing their different business models, such behaviour has not been empirically discussed in the literature. This study can be extended to larger and more complex markets.","PeriodicalId":45470,"journal":{"name":"International Journal of the Economics of Business","volume":"38 1 1","pages":"159 - 184"},"PeriodicalIF":1.2,"publicationDate":"2023-02-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78215802","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}