Search results for "Finance"
showing 10 items of 4676 documents
Several Contemporary Economy Features, Consequences of Internet Expansion and I.C.T. Innovations in the World
2019
Abstract The Internet has reach half of the population of the planet and in the latest three years more than 700 millions users came on line from the emerging world. Most of them are coming now from the poorer population. This it may be a turning point for their economic development. This paper attempts to outline some possible future developments of the contemporary economy within the new digital transformation and development of internet firms in emerging markets, some of the pluses and minuses, some of the opportunities and threats brought by the expansion of the Internet and information and communication technologies at different levels. We will present some significant aspects about th…
Two Approaches to Examine the Impact of Different Credit Default Indicators on Real Estate Loans
2019
Abstract Financing of real estates was a trigger of the largest financial crisis after the “Great Depression” from the early thirties in the last century. One of the main causes of this 2007 crisis was poor risk management in real estate financing. The aim of this paper is to examine the impact of different classes of indicators on credit default rates of real estate loans. Two research approaches should confirm a model that proves how strong the relationship is between different predictor variables such as interest rates, macroeconomic and individual indicators on the response variable of credit defaults. The first approach focuses on conducting descriptive and inferential experimental res…
A competing risks tale on successful and unsuccessful fiscal consolidations
2019
Abstract This paper analyses the transitions out of fiscal consolidations using annual data for 17 industrial countries over the period 1975-2013 and applying a discrete-time competing risks duration model. Our approach allows us to distinguish the factors behind a successful or an unsuccessful end of fiscal consolidation episodes. The results show that economic and political factors, the size and typology of fiscal adjustments and the occurrence of crises explain the differences in the length and the success/failure of fiscal consolidations. Moreover, while fiscal adjustment programmes that end successfully display positive duration dependence, those that end in an unsuccessful manner are …
How online reviews of destination responsibility influence tourists’ evaluations: an exploratory study of mountain tourism
2019
This study examines how online reviews of the economic, sociocultural and environmental dimensions of tourism destination responsibility (TDR) influence tourists’ evaluations. The effects of these ...
¿Una feria de cambios a la valenciana? Debate financiero y energía emprendedora en el siglo XVII
2020
In 1619 Philip IV sent to print a Real Pragmatic [Royal Pragmatic legislation] that would regulate changes between Valencia and Medina del Campo being introduced by Valencian merchant families to enable them to receive interest on their loans without being accused of usury. Only three years later, in 1622, the Republic of Genoa inaugurated the exchange fairs of Novi Ligure, with which the Genoese consolidated their international position in the international credit market. These apparently independent circumstances constitute an important episode for international financial knowledge and the transformation of the Mediterranean credit market during the seventeenth century. Studying financial…
The Psychological Foundations of Management in Family Firms: Emotions, Memories, and Experiences
2021
Exploring the psychological foundations of management in family firms is necessary to understand why they formulate and implement strategies differently from nonfamily firms, and why and how family firm behavior varies across different family firms. Picone et al. (2021. The psychological foundations of management in family firms: Values, biases, and heuristics. Family Business Review, 34(1), 12-32) have proposed a conceptual framework for the psychological foundations of management in family business, examining how the values, biases, and heuristics of family firm members affect strategic decision-making and family firm outcomes. Drawing on this framework, we examine emotions, memories, an…
Schatten über der Schwarzarbeit
2008
Die Diskussion uber Messung, Grosenordnung und Konsequenzen der Schwarzarbeit steht bereits deshalb unter einem Schatten, der den Blick dafur truben kann, weil Enste und Schneider trotz jahrelanger Befassung mit dem Thema Schwarzarbeit und Schattenwirtschaft nicht systematisch zu unterscheiden vermogen. Ihre Schatzungen fur die Dimension des Phanomens beruhen zudem generell auf wissenschaftlich nicht haltbaren Vorgehensweisen, die sie gleichwohl repetitiv anwenden. Die unterstellten Einnahmenverluste beim Staat ergeben sich im Ubrigen lediglich bei Vernachlassigung mikrookonomisch bedeutsamer Budgetrestriktionen sowie durch Auserachtlassung zwingender makrookonomischer Kreislaufzusammenhang…
Die volkswirtschaftliche Bedeutung von Schwarzarbeit
2007
Die Schwarzarbeit wird in der finanzpolitischen Diskussion in Deutschland als volkswirtschaftlich gewichtig angesehen, und es werden ihr erhebliche Einnahmenverluste des Staates zugeschrieben. Die vorliegende Arbeit hinterfragt diese Behauptungen. Nach einer Definition der Schwarzarbeit und ihrer Abgrenzung gegenuber ahnlichen Sachverhalten wird die unterstellte volkswirtschaftliche Bedeutung zuruckgewiesen. Auserdem lasst sich im Rahmen einer konsistenten okonomischen Analyse zeigen, dass dem Staat durch Schwarzarbeit keinerlei Einnahmeausfalle entstehen. Nach allem ist das Ausmas der Schwarzarbeit in Deutschland gering, wobei gleichwohl allokative Wirkungen der Schwarzarbeit nicht auszusc…
Interventions with Sticky Social Norms: A Critique
2021
Abstract We study the consequences of policy interventions when social norms are endogenous but costly to change. In our environment, a group faces a negative externality that it partially mitigates through incentives in the form of punishments. In this setting, policy interventions can have unexpected consequences. The most striking is that when the cost of bargaining is high, introducing a Pigouvian tax can increase output—yet in doing so increase welfare. An observer who saw that an increase in a Pigouvian tax raised output might wrongly conclude that this harmed welfare and that a larger tax increase would also raise output. This counter-intuitive impact on output is demonstrated theore…
Do Price Barriers Exist in the European Carbon Market?
2017
ABSTRACTIt is generally thought that psychological prices in markets primarily traded by professional participants should play a limited role. The authors investigate the existence of key reference points in the European Carbon Market, which can be considered as a market with highly qualified stakeholders. They document the presence of key levels and barrier bands around European Union Allowances (EUA) prices. It appears that traders tend to consider these price levels as resistances in upward movements and as supports in downward movements. Furthermore, the authors have observed that the existence of price barriers affects both return and volume dynamics. Therefore, the results indicate th…