Search results for "Markets"
showing 10 items of 332 documents
The community structure of the global corporate network.
2013
We investigate the community structure of the global ownership network of transnational corporations. We find a pronounced organization in communities that cannot be explained by randomness. Despite the global character of this network, communities reflect first of all the geographical location of firms, while the industrial sector plays only a marginal role. We also analyze the network in which the nodes are the communities and the links are obtained by aggregating the links among firms belonging to pairs of communities. We analyze the network centrality of the top 50 communities and we provide the first quantitative assessment of the financial sector role in connecting the global economy.
Monetary policy, asset prices and consumption in China
2012
Abstract This paper studies the wealth channel in China. Although the wealth channel has been found to be functioning in many advanced countries, its existence is yet to be explored in most emerging economies, also in China. In order to illuminate dynamics between monetary policy, asset prices and consumption, we use the structural vector autoregression method. The findings support the view that a loosening of China's monetary policy does indeed lead to higher asset prices. Furthermore, a positive shock to residential prices increases household consumption, while the role of stock prices seems to be small from the households’ point of view. Finally, we test the existence of the wealth chann…
The Role of Institutions in the Migration of Corporate Governance Practice into Emerging Economies The Case of Africa
2016
This study examines the role of institutional environment in influencing the migration of corporate governance best practice into 22 emerging African economies. Using a unique and comprehensive sample hand-collected sample of 202 IPO firms from across the continent we adopt a novel institutional logics perspective in studying the diffusion of CEO salary disclosure – a central element of corporate transparency. Our findings reveal that the adoption of CEO salary disclosure by firms is more likely in more homogenous informal institutional contexts. Complementarities arising from disclosure originating from an Anglo-American shareholder value governance framework and indigenous formal institut…
Basis-set extrapolation techniques for the accurate calculation of molecular equilibrium geometries using coupled-cluster theory
2006
To reduce remaining basis-set errors in the determination of molecular equilibrium geometries, a basis-set extrapolation (BSE) scheme is suggested for the forces used in geometry optimizations. The proposed BSE scheme is based on separating the Hartree-Fock and electron-correlation contributions and uses expressions obtained by straightforward differentiation of well established extrapolation formulas for energies when using basis sets from Dunning's hierarchy of correlation-consistent basis sets. Comparison with reference data obtained at the R12 coupled-cluster level [CCSD(T)-R12] demonstrates that BSE significantly accelerates the convergence to the basis-set limit, thus leading to impro…
I mercati coperti a Palermo. Architettura e tecnica nella costruzione in ferro tra Ottocento e Novecento
2020
The history of the construction and transformations of the covered iron markets in Palermo, between the nineteenth and twentieth centuries, is very interesting for scholars of historical construction techniques and systems and studies - in addition to the evolution, progress and rethinking - also the assumptions economic and social which made it possible to better organize trade within designed buildings. The essay offers some reflections on two covered markets designed by Giuseppe Damiani Almejda in Palermo and representative of that short and fervent Iron Age that was able to combine the needs of local entrepreneurs, who found a promising opportunity for growth in iron processing, and the…
The Challenges Underlying Firm Revival and Resilience in the Post-COVID-19 Phase
2022
Covid-19 is an exogenous shock that has deeply modified the basic building blocks and the micro-mechanisms on which socio-economic systems and organizations rest. The vast majority of both factor markets and final markets have been significantly disrupted on a worldwide scale. As all factors that determine severe crises, the Covid-19 pandemic is a low probability and high impact shock which has significantly changed the environment in which firms operate (Grewal and Tansuhaj 2001, Hudecheck et al. 2020). Such changes have nonetheless been asymmetric, whilst they have menaced the survival of a huge number of firms and have brought to their knees many key industries, it has also ignited rapid…
The Real Effect of Financial Crises in the European Transition Economies
2010
Working Paper GATE 2009-20; International audience; The aim of this work is to assess the impact of financial crises on output for 11 European transition economies (CEECs). The results suggest that financial crises have a significant and permanent effect, lowering long-term output by about 17 percent. The effect is more important in smaller countries, with relative higher dependence on external financing, and in which the banking sector noticed more important financial disequilibria. We also found that fiscal policy measures have been the most efficient tools in dealing with the crises, while the role of monetary policy instruments has been rather blinded. Exchange rate resulted to be more …
Spatial Localization in Manufacturing: A Cross-Country Analysis
2009
This paper employs a homogenous firms' database to investigate industry localiza- tion in European countries. More specifically, we compare, across industries and countries, the predictions of two of the most popular localization indices, i.e., the Ellison and Glaeser index (Ellison and Glaeser, 1997) and the Duranton and Over- man index (Duranton and Overman, 2005). We find that, independently from the index used, localization is a pervasive phenomenon in all countries studied, but the degree of localization is very uneven across industries in each country. Furthermore, we find that the two indices significantly diverge in predicting the intensity of the forces generating localization with…
Consumers' perceptions of mobile banking continuous usage in Finland and South Africa
2015
This study examines continuous usage behaviour related to mobile banking (m-banking) among consumers living in Finland (FI) and South Africa (ZA). The study investigates three post-adoption behavioural consequences - namely, trust, satisfaction and word of mouth. Using purposeful sampling techniques, we found that trust plays a significant role in promoting continuous usage of m-banking. In general, the respondents reported high levels of trust in m-banking technology and were satisfied with the m-banking application and services. In addition, convenience, user friendliness and speed emerged as the main sub-topics related to satisfaction. In most cases, the convenience of using m-banking do…
Towards a new generation of high-resolution meteorological input data for small-scale hydrologic modeling
2011
Summary Current and future challenges of hydrologic sciences are to accurately predict and assess climate-driven impacts on water resources for the relevant scales of planning. However, process-based small-scale hydrologic modeling is data demanding and large uncertainties exist in data-sparse areas. The aim of our study was to test the applicability of the COSMO-DE analysis data (COSMO-DE-A) for hydrologic modeling. COSMO-DE-A data are a new meteorological data set with high temporal and spatial resolution that originates from the German Weather Service data assimilation system using the COSMO-DE weather prediction model. We collected field parameters in a small (10 km 2 ) mountainous catc…