Search results for "Macroeconomic"
showing 10 items of 503 documents
Sunk cost of local elected representatives in situation of fiscal competition: An example of escalating commitment
2018
Abstract Introduction Competition between French local communities to build infrastructures to attract enterprises and residents could sometimes result in irrational public spending. Objectives Show the influence of psychological factors and the phenomenon of escalating commitment in particular on this type of economic decision. Method We conducted a survey comprising four scenarios which were sent to 285 local elected representatives and we study the impact of the factors “Amount of sunk costs” and “Level of project completion” on two dependent variables, “the desire to complete the project” and “the judgment regarding the quality of the investment”. The scenarios presented a project which…
Twitter sentiment as a weak signal in venture capital financing
2021
Abstract How do venture capitalists (VCs) incorporate weak and strong signals in the valuation of technology-based startups? Based on a sociocognitive perspective of signaling theory, we introduce Twitter sentiment as a novel and weak signal, which we juxtapose with patents as a traditional, strong signal. While we find a positive association between both signals and VCs' venture valuations, our results reveal that Twitter sentiment does not correlate with actual long-term investment success, whereas patents do. Additionally, we identify and test novelty and experience characteristics (i.e., startup age and VC firm experience) as boundary conditions for our proposed signal-valuation relatio…
Hypothetical Investment Bias
2018
Young, entrepreneurial firms are particularly dependent on external investors to sustain their development. Are non-binding equity investment commitments informative? Our large sample evidence in the context of equity crowdfunding shows that only 18% of non-binding commitments made by investors in entrepreneurial firms are actually invested. The evidence is consistent with hypothetical bias. Hypothetical bias is significantly less pronounced among women, and among investors with greater social capital, proxied by education and wealth. While investment intentions are only partially reliable at the individual level, the aggregate amount of collected investment intentions is a strong predictor…
Adjusting to Climate Change: Implications of Increased Variability and Asymmetric Adjustment Costs for Investment in Water Reserves
1997
Abstract In this paper we study the determination of optimal water storage capacity in a region, taking into account that the supply of the resource, the flow into the reserve, is uncertain, that a measure of the uncertainty, the variance, is likely to increase with climate change, that building capacity is costly, and that the development of water resources may entail alsoenvironmental costs. We find that water storage capacity in the long run ispositivelyrelated to increases in uncertainty if the marginal benefit of water withdrawal isconvexand that, for the case of costly reversibility of investment, a range of inaction for investment appears, and the stability of water storage capacity …
Revista complutense de educación
2015
The incorporation of the European Credit Transfer System (ECTS) will pay off soon with the release of the first labor market new-plan graduates. In this study an initial assessment of the results is done by analyzing whether the curriculum (new-plan degree or old-plan degree) and the use of new teaching methodologies have led to significant differences in academic performance or if, on the contrary, they did not. These results suggest that this performance is higher for old-plan graduates, and also for those who have benefited from a new pedagogical tool (students from both the old and new plan). Data used corresponds to that from two different classes, one of them from an old-plan double d…
Labor Market Flexibility and Unemployment: New Empirical Evidence of Static and Dynamic Effects
2012
The aim of this paper is to analyze the relationship between labor market flexibility and unemployment outcomes. Using a panel of 97 countries from 1985 to 2008, the results of the paper suggest that improvements in labor market flexibility have a statistically and significant negative impact on unemployment outcomes (over unemployment, youth unemployment, and long-term unemployment). Among the different labor market flexibility indicators analyzed, hiring and firing regulations and hiring costs are found to have the strongest effect.
To detach or not to detach? The role of psychological detachment on the relationship between heavy work investment and well-being: A latent profile a…
2021
AbstractThis study focuses on two types of heavy work investment, namely workaholism and work engagement, and on psychological detachment from work. Both workaholism and work engagement refer to an intense work effort, yet with a different impact on work and personal life. Building on Stressor–Detachment Model (SDM), we examine how different levels of workaholism, work engagement, and psychological detachment influence different outcomes related to employees’ well-being (i.e., perceived health, negative affectivity, positive affectivity). Data were collected from 342 employees via online survey and analyzed by mean of latent profile analysis. Five employee profiles were identified: High-Det…
Accounting identities : more that just bookkeeping conventions
2006
Measuring ‘indirect’ investments in ICT in OECD countries
2019
International audience; ICT components, such as microprocessors, may be embodied in other capital goods not recorded as ICT in National Accounts. We name ‘indirect ICT investment’ the value of embodied ICT components in non-ICT investment. The paper provides estimates of ‘indirect ICT investment’ based on detailed and unpublished Supply-Use tables (SUT) in 12 OECD countries: Australia, Belgium, Canada, Chile, Czech Republic, Denmark, France, Germany, Japan, Israel, Mexico, New Zealand, the United Kingdom, and the United States.Our main finding is that ICT investment appears significantly higher when considering its indirect component, the average increase being about 35%. The inclusion of i…