Search results for "spillover"
showing 10 items of 114 documents
Inter-industry job mobility in the knowledge economy in Finland
2013
Purpose – The purpose of this paper is to investigate inter-industry labor mobility, paying special attention to workers who move into high-tech (HT) sectors or knowledge-intensive business services (KIBSs). This study inquires whether skilled workers are mobile and whether the characteristics of mobile workers support the effective transfer of knowledge across industries. Design/methodology/approach – Census data representing 7 percent of Finnish residents were used. The micro-econometric estimation method with correction of sample selection bias was applied. Findings – The results show that young workers are the most mobile, whereas mobility decreased for those with previous work experie…
Wavelet Analysis Of Variance Risk Premium Spillovers
2013
In this paper we construct a variance risk premium spillover index among France, Germany, UK, Switzerland and the US. The variance risk premium is measured by the difference between the difference between the (square) of implied volatility and expected realized variance of the stock market for next month. We also construct a spillover index for the constituents of the variance risk premium. The series under investigation exhibit long memory properties. The construction of a total spillover indicator suggested by Diebold-Yilmaz (2009) would then rely on modeling a fractionally integrated Vector Autoregressive Model, which might be subject to errors in specifying the correct lag length and th…
Wavelet analysis of variance risk premium spillovers
2013
In this paper we construct a variance risk premium spillover index among France, Germany, UK, Switzerland and the US. The variance risk premium is measured by the difference between the difference between the (square) of implied volatility and expected realized variance of the stock market for next month. We also construct a spillover index for the constituents of the variance risk premium. The series under investigation exhibit long memory properties. The construction of a total spillover indicator suggested by Diebold-Yilmaz (2009) would then rely on modeling a fractionally integrated Vector Autoregressive Model, which might be subject to errors in specifying the correct lag length and th…
Endogenous asymmetry and cooperative R&D in linear duopoly with spillovers
2009
In a standard model of R&D followed by linear Cournot competition, firm asymmetry is sustainable as equilibrium with non cooperative R&D if and only if the productivity of research is sufficiently large relative to the benefits of imitation. Increasing spillovers distribute R&D results among asymmetric competitors, causing price, firm asymmetry, and joint profit to reduce. With zero spillovers, a symmetric joint lab dominates asymmetric R&D competition in terms of social welfare and consumer surplus, but is sometimes dominated in terms of joint profit. Raising spillovers encourage symmetric collusion but makes the latter potentially harmful to consumers. (JEL : C72; L13; O32).
Spillover outcomes of job insecurity: differences among men and women (Consecuencias indirectas de la inseguridad laboral: diferencias entre hombres …
2021
A vast literature on job insecurity can be found. However, there are still several significant research gaps. Little attention has been paid to the spillover effect of job insecurity on employees’ ...
Cross-border capital flows and information spillovers across the equity and currency markets in emerging economies
2021
This paper presents a novel perspective on the interaction between equity and currency markets in emerging market economies (EMEs) by (i) examining the nonlinear effects of capital flows on return spillovers between the stock and currency markets in a sample of twelve EMEs via the causality-in-quantiles approach of Balcilar et al., (2016), and (ii) providing a comparative analysis of the influence of debt versus equity flows over the spillover patterns. We show that the causal effects of international debt and equity flows on return spillovers across the equity and FX markets are largely concentrated at lower quantiles, suggesting that the arrival of information via capital flows tends to e…
Another Look at Value and Momentum: Volatility Spillovers
2017
This paper examines volatility interdependencies between value and momentum returns. Using U.S. data over the period 1926-2015, we document persistent periods of low and high volatility spillovers between value and momentum strategies. Moreover, we find that the intensity of the volatility spillovers may change substantially in very short periods of time and that these shifts in spillover intensity can be linked to prominent economic events and financial market turmoil. Our results further demonstrate that value returns increase and momentum returns decrease monotonically with increasing volatility spillovers between the two strategies. Given this linkage between spillover intensity and ret…
Option-Implied Volatility Spillovers between Risk Factors in FX Markets and States of the Global Economy
2016
This study employs option price data to back out the implied portfolio volatilities of the dollar and carry trade risk factors of the G-10 currencies. To investigate expected volatility spillover effects between risk factors in FX markets, we extend Grobys (2015) and Diebold and Yilmaz (2009) by constructing expected volatility spillover indices based upon the forecast-error variance decomposition of Vector-Autoregression models employing option-implied portfolio volatilities. Surprisingly, the dollar and carry trade risk factors that are orthogonal in the first moment exhibit strong stochastic interrelations in the second expected moment. Our findings indicate that expected high spillover …
Engagement valence duality and spillover effects in online brand communities
2017
Purpose Online brand communities (OBCs) are an effective avenue for brands to engage consumers. While engaging with the brand, consumers simultaneously interact with other OBC members; thus engaging with multiple, interrelated engagement objects concurrently. The purpose of this paper is to explore both positively and negatively valenced consumer engagement with multiple engagement objects, the interplay between these, and the spillover effect from consumers’ engagement with the OBC to their engagement with the brand. Design/methodology/approach Drawing on 16 in-depth interviews with OBC members of a luxury accessory brand, a constant comparative method was adopted using axial and selectiv…
Beyond Economic Profitability, Sustainable Financing through Crowdfunding
2021
Esta investigación se ha llevado a cabo con el objetivo de determinar la relación entre el crowdfunding y la sostenibilidad. El crowdfunding es una herramienta de financiación que surge de la economía colaborativa, y emplea una plataforma online para poner en común inversores que ofrecen recursos económicos y emprendedores, empresas o individuos que demandan dichos recursos. Con el fin de analizar dicha relación se realiza una revisión de la literatura previa en el tema y se observa que a través de la innovación se crean proyectos sostenibles que son financiados a través de crowdfunding. Estos proyectos significan una solución sostenible que incide en el pensamiento fuera de la caja, y que …