Search results for "SECTOR"
showing 10 items of 1051 documents
Working under pressure: economic recession and third sector development in Europe
2016
Purpose – The context conditions for third sector organizations (TSOs) in Europe have significantly changed as a result of the global economic crisis, including decreasing levels of public funding and changing modes of relations with the state. The effect of economic recession, however, varies across Europe. The purpose of this paper is to understand why this is the case. It analyses the impact of economic recession and related policy changes on third sector development in Europe. The economic effects on TSOs are thereby placed into a broader context of changing third sector policies and welfare state restructuring. Design/methodology/approach – The paper focusses on two research questions…
Circularity Within the EU: The Return Intentions of Latvian Migrants
2016
Recently, much attention has been paid in the literature to circular migration because of its perceived potential to reduce permanent migration and to promote development. This is probably a result of a perfect combination of interests benefiting not only sending and receiving countries, but also the migrants themselves (Vertovec 2007; Adepoju et al. 2010; Castles and Ozkul 2014). Circularity allows migrants to gain experience and acquire skills, and to apply them on returning to their countries of origin, thereby contributing to development (Cassarino 2004; de Haas 2010, 2012), transforming brain drain into brain gain, and at the same time contributing to their positive effects on labour m…
Organizational models in the Sicilian ornamental plant industry: An empirical analysis based on transaction cost theory
2015
The process of market globalization has led to a redefinition of business models in order to compete in domestic and international markets. In the current competitive scenario, the survival of companies is linked to their ability to reduce or contain the sum of both production and transaction costs. The aim of this paper is to identify the existence of similar organizational models of a sample of Sicilian firms active in the Ornamental Plants sector based on those transaction costs that they support in relation to the sales channel and the other human and firm characteristics. Using a clustering procedure, we identified four well-distinct organizational models whose formation is influenced …
Análisis de las plataformas de crowdfunding social en el estado español: un estudio de casos
2018
Las actuales tecnologías de la información y comunicación han propiciado un incremento en la capacidad de agrupación virtual de la sociedad, a través de la generación de un nutrido y variado conjunto de espacios de colaboración y participación comunicativa. Ello ha generado un nuevo marco de oportunidades de fundraising para el Tercer Sector de acción social español, frente al progresivo deterioro experimentado en su financiación tradicional a raíz de la crisis económica. Un nuevo marco donde se encuentra una herramienta con potencial para reconfigurar cualitativamente las estructuras de fundraising de las entidades sociales, dando cabida a una democratización financiera desde su propia bas…
Commodity market based hedging against stock market risk in times of financial crisis: The case of crude oil and gold
2018
Based on daily data from 1989-2016 we find that the correlations between some relevant commodity market futures and equity returns in the aggregate U.S. market, and specifically in the energy sector stocks have changed strongly during the stock market crisis periods. The correlation between crude oil futures and aggregate U.S. equities increases in crisis periods, whereas in case of gold futures the correlation becomes negative, which supports the safe haven hypothesis of gold. For energy sector equities, the dynamics of hedge ratios does not support using either crude oil or gold futures for cross-hedging during stock market crises.
Uncertainty and cross-border banking flows
2019
Abstract While global uncertainty—measured by the VIX—has proven to be a robust global “push” factor of international capital flows, there has been no systematic study assessing the role of uncertainty in driving bilateral capital flows. This paper examines the effects of higher country-specific uncertainty on cross-border banking flows using data from the Bank for International Settlements Locational Banking Statistics. The bilateral structure of this data allows disentangling supply factors from demand factors, thereby helping identify the effect of higher uncertainty on cross-border banking flows from other confounding factors. The results of this analysis suggest that: (i) uncertainty i…
Bank competition and multimarket contact intensity
2021
Abstract This paper analyzes the effect of multimarket contact on bank competition. We propose a completely new multimarket contact indicator that not only considers the existence of contacts between banks, but also their intensity, by analyzing the strength–weakness position of banks in terms of branch numbers in comparison to their rivals in the markets where they coincide. We test the new indicator empirically in the context of the Spanish banking sector. The main results suggest a negative relationship between market power and the number of multimarket contacts, rejecting the hypothesis of tacit collusion in the Spanish banking sector. However, the result changes completely when we cons…
Potential spillovers from the banking sector to sovereign credit ratings
2020
The global financial crisis and European sovereign debt crisis underlined the links between the banking sector and sovereign risk. This paper uses a machine learning technique (random forest regres...
Centralised or decentralised banking supervision? Evidence from European banks
2021
Abstract This paper analyses the impact of the Banking Union on European bank credit risk. Specifically, we investigate the effect that the establishment of the Single Supervisory Mechanism has had on the credit risk of the banks it supervises in comparison to financial institutions that are still supervised by National Supervisory Authorities. We analyse a sample of 746 European banks over the period 2011–2018, by means of a difference-in-differences methodology. We provide empirical evidence that Single Supervisory Mechanism supervised banks reduced credit risk exposure compared to banks supervised by National Supervisory Authorities, suggesting that the Banking Union has successfully red…
Foreign Direct Investment Spillovers: Evidence from the British Retail Sector
2011
This paper discusses the impact of foreign-ownership presence on the productivity performance of British-owned domestic retailers. In particular, we analyse the existence of productivity spillovers, in the form of knowledge transfer, by using establishment-level data from the Annual Respondents Database over the period 1997–2003. The results confirm the presence of such spillovers and highlight their positive and significant impact on the productivity of domestic firms, although these spillovers are mostly confined to the region in which foreign subsidiaries locate. There is also evidence that the productivity benefit from regional foreign direct investment spillovers increases with the abs…