Search results for "STRATEGY"
showing 10 items of 2256 documents
Convex costs and the hedging paradox
2010
Accepted version of an article from the journal:Journal of Corporate Finance. Published version available on Science Direct: http://dx.doi.org/10.1016/j.jcorpfin.2009.10.002 Financial theory suggests that hedging can increase shareholder value in the presence of capital market imperfections, including direct and indirect costs of financial distress, costly external financing, and convex tax exposure. The influence of these costs, which are high when profits are low and low or negligible when profits are large, on the extent of firm hedging has not been consistently addressed in the finance literature. In Brown and Toft's (2002) model, more convex costs imply that a firm will decrease the ex…
Cost analysis of a vaccination strategy for respiratory syncytial virus (RSV) in a network model
2010
[EN] In this paper an age-structured mathematical model for respiratory syncytial virus (RSV) is proposed where children younger than one year old, who are the most affected by this illness, are specially considered. Real data of hospitalized children in the Spanish region of Valencia are used in order to determine some seasonal parameters of the model. Once the parameters are determined, we propose a complete stochastic network model to study the seasonal evolution of the respiratory syncytial virus (RSV) epidemics. In this model every susceptible individual can acquire the disease after a random encounter with any infected individual in the social network. The edges of a complete graph co…
Knowledge management and intellectual capital in the business model innovation of Costa Rican manufacturing firms
2022
Abstract The purpose of this article is to analyze the impact of knowledge management and intellectual capital on the ability of companies to generate business model innovation. To evaluate the proposed hypotheses, we surveyed a final sample of 100 Costa Rican manufacturing companies and analyzed the data using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results show that knowledge management positively contributes to the development of business model innovations. Similarly, intellectual capital has a direct positive influence on business model innovation. However, the direct contribution intellectual capital depends on the adoption of practices that encourage knowledg…
Portfolio diversification in the sovereign credit swap markets
2018
We develop models for portfolio diversification in the sovereign credit default swaps (CDS) markets and show that, despite literature findings that sovereign CDS spreads are affected by global factors, there is sufficient idiosyncratic risk to be diversified. However, we identify regime switching in the times series of CDS spreads and spread returns, and the optimal diversified strategies can be regime dependent. The developed models trade off the CVaR risk measure against expected return, consistently with the statistical properties of spreads. We consider three investment strategies suited for different CDS market participants: for investors with long positions, speculators that hold unco…
Applied Chemical Ecology to Enhance Insect Parasitoid Efficacy in the Biological Control of Crop Pests
2018
The field application of semiochemicals, used by parasitoids to find mates and to locate their hosts, is a promising environmentally sustainable and highly specific pest control strategy and an attractive alternative to the use of pesticides. In this chapter, we first examine research progress dealing with the effect of semiochemical cues on parasitoid foraging strategy. In the second part, we review the possible field applications of these chemical cues to enhance pest control strategies, either through direct pest control or by manipulating parasitoid behaviour. We then consider novel approaches, such as the “attract and reward” strategy, combining semiochemical application and habitat ma…
A bibliometric review of cryptocurrencies as a financial asset
2021
Within a decade, cryptocurrencies have captured significant attention. After Bitcoin's emergence in 2008, new cryptocurrencies started to enter the financial market. We use bibliometric analysis to...
Economic development and the creative industries: a tale of causality
2014
Cultural and creative industries are thought to be a driver for economic growth. During the last decade, research has tried to link higher intensity of these industries with the region's welfare. However, this is a controversial relationship that still needs to be proved. In this article, we build a conceptual framework to help us test the possible causality between regional income generation and employment in the cultural and creative sectors. Using regional European data for 1999–2008, our results show that there is a significant feedback (bidirectional causality) between the per capita GDP and employment intensity in the cultural and creative industries, allowing us to conclude that ther…
The development and validation of the Business Cultural Intelligence Quotient
2016
Purpose– The purpose of this paper is to present a new instrument for measuring cultural intelligence in the business context (BCIQ).Design/methodology/approach– The paper describes the process of the conceptualization of the model and the development of the instrument, the sample, as well as the validation of the instrument. Directions on the use of the instrument and future research are discussed.Findings– The instrument shows good psychometric properties and good predictive power and outperforms other publicly available CQ measures on a number of dimensions.Originality/value– The unique features and advantages of the present instrument are as follows: first, a refined factor structure co…
The “Big Bang” of the populist parties in the European Union: The 2014 European Parliament election
2018
A significant number of voters are turning their backs on traditional parties. The stability of European party systems is being defied by a growing number of (new) radical parties, whose presence i...
Regional industrial restructuring resulting from individual and system agency
2018
The article discusses mechanisms and policy that stimulate regional economic restructuring. Economic restructuring is conceptualised through the notion of path development. The article distinguishe...