Search results for "tail"
showing 10 items of 702 documents
Digital ageing in Europe: a comparative analysis of Italian, Finnish and Swedish national policies on eHealth
2023
AbstractAgeing Europeans are today healthier than previous generations and often manage to live independently up to a high age. The proportion of people 80 years of age and older has increased significantly, and with high age the risk of multi-illness and dementia increases. Strong urbanisation processes have changed the demographic structure in rural areas, and young women and men have migrated towards the urban areas to study and work, while older persons have remained behind. This demographic challenge of increasing numbers of persons older than 80 years with care needs living in remote rural areas has become a major European social problem. In tackling this dilemma, many European countr…
Integrated capital shares
2019
In empirical macroeconomics, inter-dependencies between countries are often analysed using cross-country correlations or graphical investigation of time series. This study shows that applying an alternative methodological approach - identification of common unobservable factors and using them as explanatory variables for country-specific time series - indicates a stronger cross-country integration of functional income distributions than the standard methods. The results vary only little between different samples, where both the country and year coverage change. Moreover, the main findings are not sensitive to the way capital depreciation is taken into account. The primary driving factor see…
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…
The euro area sovereign debt crisis: Can contagion spread from the periphery to the core?
2014
Abstract We examine the determinants of joint default risk of euro area countries during 2007–2011. To accomplish this, we recover joint default probabilities from individual CDS contracts. In contrast to earlier theoretical studies, we find that financial linkages are an active contagion transmission channel only in the case of the troubled periphery euro area economies. During the current sovereign debt crisis, real economy linkages play a more important role in transmitting shocks from the euro area periphery towards its core. Countries that have stronger trade interconnections with troubled economies tend to have a higher expected joint default risk.
The Effect of Specialisation on Banks' Efficiency: An International Comparison
2006
Abstract This study analyses the effects of specialisation on the cost efficiency of a set of banking systems of the European Union over the period 1992–1998. Unlike in the established literature in which specialisation differences are not considered, in this paper cost inefficiencies are decomposed into two different components: the first is related to the inefficiency associated with the composition of specialisations in each banking system and the second is related to specific inefficiencies of banks within their specialisation. The results show the existence of high cost inefficiencies. However, the intra‐specialisation inefficiencies indicate that the inefficiencies of the European ban…
Supply chain finance: The role of credit rating and retailer effort on optimal contracts
2021
Abstract Supply chain finance aims at finding the best financing arrangements within a given buyer-supplier dyad. The source of capital can be internal (buyer or supplier) or external (financial institution) to the supply chain. So far, many studies have investigated the optimal mix of the sources of capital; our study aims at contributing to the recent literature that explores the interface of operations and finance extending the supplier-based financing models. As the Covid-19 pandemic hits economic activity, the financial constraints have ever greater importance; knock-on effects of the Covid-19 crisis urges on the critical role of a supply chain that should provide financial resources, …
Time-varying dependence between stock and government bond returns: International evidence with dynamic copulas
2015
Abstract This paper investigates the dependence pattern between stock and long-term government bond returns for a wide range of developed countries over the last two decades by using a dynamic DCC-GARCH-copula model. This approach allows obtaining a flexible and comprehensive description of the time variation in the linkage between stock and bond markets. The empirical results show that the dependence structure between stock and 10-year government bond returns varies significantly over time for most countries. In particular, a positive stock–bond association is observed during the 1990s, while the relationship becomes negative from the early 2000s, supporting the presence of flight-to-quali…
Do innovation and sustainability influence customer satisfaction in retail? A question of gender
2022
As a consequence of advances in the digitisation process and increased consumer awareness of social, economic and environmental issues, more and more companies are embarking on innovative and sustainable initiatives in response to these new demands. However, given the nature and scope of these practices, research in this direction has not reported clarifying results to date, especially when pursuing a marketing approach to their analysis. Through this research, it is intended to test a model that makes it possible to analyse the effect of innovative and sustainable actions on retail and explain their contribution to customer satisfaction. To do this, this research is based on those studies …
Caractéristiques et fonctionnement des conseils d'administration français. Un état des lieux.
2004
International audience; Dans ce travail, nous décrivons les principales caractéristiques (taille des conseils, cumul des fonctions et indépendance des membres) de 97 conseils d'administration français en 2002 et leur fonctionnement (nombre de réunions et assiduité), ainsi que ceux des principaux comités spécialisés (comité d'audit, comité de rémunération, comité de nomination et comité stratégique). Nos résultats permettent de mettre en évidence une évolution très significative des conseils en France au cours des 20 dernières années, suite notamment à la publication des rapports Vienot (1995 et 1999) et Bouton (2002).
Cross-country variation in patience, persistent current account imbalances and the external wealth of nations
2022
This paper is the first to utilize large-scale international surveys on economic preferences to examine the long-run relationships between patience, current accounts and external wealth. We find robust empirical evidence that countries with more patient individuals tend to run persistent current account surpluses, which in turn result in the accumulation of foreign assets. This theoretically plausible but empirically unexplored relationship holds true for euro area current account imbalances, global current account imbalances and net foreign asset positions worldwide. While the existing current account literature concentrates on proximate macroeconomic determinants, this paper’s extension o…