Search results for "Econometric"
showing 10 items of 3780 documents
How individual characteristics shape the structure of social networks
2015
Abstract We study how students’ social networks emerge by documenting systematic patterns in the process of friendship formation of incoming students; these students all start out in a new environment and thus jointly create a new social network. As a specific novelty, we consider cooperativeness, time and risk preferences – elicited experimentally – together with factors like socioeconomic and personality characteristics. We find a number of robust predictors of link formation and of the position within the social network (local and global network centrality). In particular, cooperativeness has a complex association with link formation. We also find evidence for homophily along several dim…
How they walk the talk : Responsible management education in Finnish business schools
2022
Responsible management education (RME) has become a common initiative in the educational discourse of business schools worldwide. However, little is known about how (non-)engagement with RME in the past influenced the way RME is organised today. We examine this in one of the pioneering countries of RME, Finland, using extensive qualitative research materials. Our results suggest that RME has been embedded with authenticity-driven change (local context and research) since the 1990s. In the late 2000s after the legal educational reforms implemented in Finland, the prestige-driven change (accreditations) began to shape the embedding of RME. In the 2020s, both the authenticity- and prestige-dri…
How does an allowance for a non-working younger partner affect the retirement behaviour of couples?
2021
AbstractWe examine the effect of the partner allowance (PA) in the Dutch pension system on the retirement decisions of couples using administrative data. PA was paid to people who receive the public old-age pension with a partner younger than the state pension age (SPA) and with a low own income. PA worked as a financial incentive to retire earlier, especially for the younger partners. As of 1 April 2015, new old-age pensioners are no longer entitled to this allowance. We estimate the effect of this reform on the retirement behaviour of each spouse. To account for the fact that at the same time, another reform essentially put an end to generous early retirement arrangements, we compare sing…
Hedging foreign exchange rate risk: Multi-currency diversification
2016
Abstract This article proposes a multi-currency cross-hedging strategy that minimizes the exchange risk. The use of derivatives in small and medium-sized enterprises (SMEs) is not common but, despite its complexity, can be interesting for those with international activities. In particular, the reduction in the exchange risk borne through the use of natural multi-currency cross-hedging is measured, considering Conditional Value-at-Risk (CVaR) and Value-at-Risk (VaR) for measuring market risk instead of the variance. CVaR is minimized using linear programmes, while a multiobjective genetic algorithm is designed for minimizing VaR, considering two scenarios for each currency. The results obtai…
Effectuating Person-Organization Fit : Effectuation in Organizations
2015
Industrial policies of innovation concentrate on funding or encouraging promising innovations entailing growth or that have possibilities of internationalization. However, concrete innovation process happens in and between individuals. Effectuation is a logic that is emergent and iterative in nature. It develops through enactment and trial-and-error processes that follow deep expertise, contextual experience and abilities to leverage contingencies. Harnessing individuals to challenge their working environment to function better may improve both work well-being and organization performance. The integration of person-organization fit and effectuation suggest that paying attention to effectuat…
Innovación y crecimiento económico: Factores que estimulan la innovación
2012
[ES] El objetivo de este artículo es analizar el papel que desempeñan las innovaciones en la actividad económica. En este sentido, se muestra la relación que existe entre innovaciones y crecimiento económico, como objetivo esencial actual de la política económica para reducir el desempleo y aumentar el bienestar social. Para llevar a cabo este análisis nos basamos en el modelo de Schumpeter, en el que el empresario-emprendedor y el clima social desempeñan un papel relevante en el proceso. El análisis empírico estima una ecuación de innovaciones para el caso de 11 países desarrollados, mostrando que el clima social, representado por la formación y la distribución de la renta, y la política m…
Education and skill mismatches: wage and job satisfaction consequences
2013
PurposeThis paper aims to highlight the relevance of examining education and skill job‐worker mismatches as two different, although simultaneous, phenomena of the labor market. Most previous literature does not take into account skill mismatch, and a number of papers deal with both kinds of mismatches as equivalent.Design/methodology/approachSpanish data from the European Community Household Panel (ECHP) survey for the year 2001 are used to examine the degree of statistical association between both education and skill mismatches, and to estimate wage equations as well as job satisfaction equations, considering satisfaction with pay, with the type of job and overall job satisfaction, in orde…
Sense of coherence and work characteristics: A cross-lagged structural equation model among managers
2004
This study investigated the dominance of predictive relationships between Sense of Coherence (SOC) and work characteristics (organizational climate and job control) in cross-lagged longitudinal data with two measurement points and a time lag of 3 years. The sample consisted of 615 (587 men and 28 women) managers, aged between 27 and 64 years. The cross-lagged longitudinal analysis was done by the use of Structural Equation Modelling (SEM) within the framework by LISREL. The results of the chi-square difference tests indicated that the model where SOC at Time 1 predicted work characteristics at Time 2 better accounted for the data than the competitive models. However, the only significant pa…
The role of Institutions in explaining wage determination in the Euro Area: a panel cointegration approach
2016
Over the last 15 years, the evolution of labor costs has been very diverse across EMU countries. Since wages have important second-round effects on prices and competitiveness, and EMU countries do not have the tool of the nominal exchange rate to correct for such imbalances, understanding the determinants of the wage is a matter of increasing concern and debate. We estimate the equilibrium wage equation for the Euro Area over the period 1995-2011 using panel cointegration techniques that allow for cross-section dependence and structural breaks. The results show that the equilibrium wage has a positive relation with productivity and negative relation with unemployment, as expected. We also i…
Public sector wage premium and output volatility in the European Union
2018
This study seeks to uncover the role played by the public sector wage premium in explaining the output volatility. Furthermore, the study also explores the factors that might substantiate the cross-country differences in the volatility of the public sector wage premium. Using cross-sectional regression analysis for the European Union countries, the findings indicate that more volatile public sector wage premium is associated with higher fluctuations in the private sector employment and less stable growth. Findings also suggest that volatility of the public sector wage premium tends to be larger in countries with smaller governments and in countries where collective bargaining is the predomi…