经济学最新文献

Pricing Poseidon: Extreme Weather Uncertainty and Firm Return Dynamics

IF 8 1区经济学

Journal of Finance Pub Date : 2025-01-14 DOI: 10.1111/jofi.13416

MATHIAS S. KRUTTLI, BRIGITTE ROTH TRAN, SUMUDU W. WATUGALA

引用次数: 0

Greening the future: how venture capital nurtures cleantech companies’ growth in Europe 绿化未来：风险投资如何促进欧洲清洁技术公司的发展

IF 6.4 1区经济学

Small Business Economics Pub Date : 2025-01-14 DOI: 10.1007/s11187-024-00988-y

Matteo Ambrois, Annalisa Croce, Elisa Ughetto

引用次数: 0

Hubristic founders and entrepreneurial exit: a proposed framework

IF 6.4 1区经济学

Small Business Economics Pub Date : 2025-01-13 DOI: 10.1007/s11187-024-00992-2

Pasquale Massimo Picone, Nadia Di Paola, Giovanni Battista Dagnino

{"title":"Hubristic founders and entrepreneurial exit: a proposed framework","authors":"Pasquale Massimo Picone, Nadia Di Paola, Giovanni Battista Dagnino","doi":"10.1007/s11187-024-00992-2","DOIUrl":"https://doi.org/10.1007/s11187-024-00992-2","url":null,"abstract":"As occurs in new venture creation, founders’ biases may also play a role in the context of entrepreneurial exit. This conceptual paper presents a framework about how founders’ hubris affects exit strategies. Our framework points out three key aspects. First, hubris bias influences entrepreneurs’ intentions, and the performance threshold is linked to business exit. Second, when the firm shows performance below the expected threshold, hubristic founders are prone to escalate firm investments and insist on pursuing choices that have beforehand resulted in inadequate performance. Such hubristic behavior will likely lead to an entrepreneurial exit, resulting in bankruptcy. However, we also recognize the less probable occurrence of a bright side of hubris, linked to its support to long-term effort perseverance and interest consistency. Third, when a firm performs above the expected threshold, hubristic founders prefer to walk out of their business through a financial harvesting strategy, thereby excluding stewardship behavior option under such conditions. To detect the practical implications of our framework, we provide a series of illustrative quotes, anecdotes, and cases. Implications for the entrepreneurial exit literature and the hubris theory of entrepreneurship are discussed.","PeriodicalId":21803,"journal":{"name":"Small Business Economics","volume":"6 1","pages":""},"PeriodicalIF":6.4,"publicationDate":"2025-01-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142968191","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The effects of unilateral climate policy towards agriculture: A case study of Denmark

IF 3.4 2区经济学

Journal of Agricultural Economics Pub Date : 2025-01-13 DOI: 10.1111/1477-9552.12624

Peter Birch Sørensen, Ulrik Richardt Beck, Asbjørn Kehlet Berg, Simon Christiansen, Cecilie Løchte Jørgensen, Jens Sand Kirk, Louis Birk Stewart, Peter Philip Stephensen

{"title":"The effects of unilateral climate policy towards agriculture: A case study of Denmark","authors":"Peter Birch Sørensen, Ulrik Richardt Beck, Asbjørn Kehlet Berg, Simon Christiansen, Cecilie Løchte Jørgensen, Jens Sand Kirk, Louis Birk Stewart, Peter Philip Stephensen","doi":"10.1111/1477-9552.12624","DOIUrl":"https://doi.org/10.1111/1477-9552.12624","url":null,"abstract":"To meet their climate policy obligations towards the EU, some EU member states will have to adopt strict climate policies towards agriculture. Responding to this need, the Danish parliament recently decided to impose a tax on greenhouse gas (GHG) emissions from the country's livestock production. We develop a simple model of primary agriculture and its interaction with the food industry to illustrate the main economic mechanisms determining the impact of a unilateral tax on GHG emissions from domestic agriculture. To study the allocation effects of the GHG tax on agriculture and the impact on the wider economy over time, we then present a disaggregated dynamic simulation model of Danish agriculture, embedded in a large‐scale computable general equilibrium model. The model predicts that a large share of the cost increase induced by the tax will be shifted forward onto higher input prices in the food industry and ultimately onto consumers via higher food prices, but landowners will also bear a significant part of the burden through a fall in land prices. The GHG tax will induce a reallocation from animal to plant production, which would be even more pronounced in the case of a livestock‐specific tax as currently foreseen, and from conventional to organic farming. This will help to reduce the total emissions from agriculture, but the largest share of the emission cuts will stem from a fall in output, as there are still few low‐cost technical abatement possibilities in agriculture.","PeriodicalId":14994,"journal":{"name":"Journal of Agricultural Economics","volume":"36 1","pages":""},"PeriodicalIF":3.4,"publicationDate":"2025-01-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142968275","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Unveiling geographical patterns of hierarchy in the Greek labor market network: toward a multilayer “status-polus” model

IF 2.9 2区经济学

Journal of Economic Geography Pub Date : 2025-01-11 DOI: 10.1093/jeg/lbae052

Dimitrios Tsiotas, Dimitris Kallioras

引用次数: 0

Book review: Urban Culture and the Modern City: Hungarian Case Studies

IF 4.7 1区经济学

Urban Studies Pub Date : 2025-01-10 DOI: 10.1177/00420980241309830

Gábor Patkós

引用次数: 0

Local income inequality and product variety: empirical evidence

IF 2.9 2区经济学

Journal of Economic Geography Pub Date : 2025-01-10 DOI: 10.1093/jeg/lbae050

Dieter Pennerstorfer, Nora Schindler, Biliana Yontcheva

引用次数: 0

Cost-effectiveness of the addition of sintilimab as a first-line therapy for locally advanced or metastatic oesophageal squamous cell carcinoma: a Chinese healthcare system perspective.

IF 2.7 3区经济学

Health Economics Review Pub Date : 2025-01-10 DOI: 10.1186/s13561-024-00588-2

Cuicui Yu, Yingqi Wu, Yadi Geng, Hui Yan, Pengli Zhu, Peng Ji, Fei Wu, Lijuan Ning, Yubin Feng, Aizong Shen

{"title":"Cost-effectiveness of the addition of sintilimab as a first-line therapy for locally advanced or metastatic oesophageal squamous cell carcinoma: a Chinese healthcare system perspective.","authors":"Cuicui Yu, Yingqi Wu, Yadi Geng, Hui Yan, Pengli Zhu, Peng Ji, Fei Wu, Lijuan Ning, Yubin Feng, Aizong Shen","doi":"10.1186/s13561-024-00588-2","DOIUrl":"10.1186/s13561-024-00588-2","url":null,"abstract":"Background: The ORIENT-15 double-blind randomized controlled trial demonstrated that the addition of sintilimab to chemotherapy for locally advanced or metastatic oesophageal squamous cell carcinoma (OSCC) resulted in better clinical outcomes. In this analysis, we sought to evaluate the cost-effectiveness of sintilimab as a first-line treatment for locally advanced or metastatic OSCC from a healthcare system perspective in China.Methods: A partitioned survival model was constructed to perform a cost-effectiveness analysis comparing chemotherapy alone with sintilimab for locally advanced or metastatic OSCC patients. Clinical data were obtained from the ORIENT-15 trial and extrapolated to 10 years. Health state utilities and costs were sourced from the literature and from public healthcare institutions. The primary outcomes included the incremental cost-effectiveness ratio (ICER) and quality-adjusted life-years (QALYs). Two different sensitivity analyses, one-way and probabilistic, were performed to assess model uncertainty.Results: Sintilimab-based chemotherapy was more costly ($31699.21 vs. $20687.42) and more effective (0.74 vs. 0.53) than placebo-based chemotherapy, resulting in an ICER of $51908.19 /QALY, which is greater than the willingness-to-pay (WTP) threshold of China ($38223/QALY). Sensitivity analysis demonstrated that the PFS and cost of sintilimab were the major influencing factors affecting the results.Conclusions: In patients with locally advanced or metastatic OSCC, sintilimab chemotherapy could improve survival time and health benefits compared with traditional chemotherapy, but the present analysis suggests that sintilimab is not a cost-effective treatment option in China.","PeriodicalId":46936,"journal":{"name":"Health Economics Review","volume":"15 1","pages":"2"},"PeriodicalIF":2.7,"publicationDate":"2025-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC11720610/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142956632","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Q: Risk, rents, or growth?

IF 8.9 1区经济学

Journal of Financial Economics Pub Date : 2025-01-09 DOI: 10.1016/j.jfineco.2024.103990

Alexandre Corhay, Howard Kung, Lukas Schmid

{"title":"Q: Risk, rents, or growth?","authors":"Alexandre Corhay, Howard Kung, Lukas Schmid","doi":"10.1016/j.jfineco.2024.103990","DOIUrl":"https://doi.org/10.1016/j.jfineco.2024.103990","url":null,"abstract":"We document that the increasing polarization in Tobin’s <mml:math altimg=\"si13.svg\" display=\"inline\"><mml:mi>Q</mml:mi></mml:math> within industries is closely connected to the growing divergence in rents and the emergence of superstar firms over the past four decades, while discount rates and growth rates did not exhibit the same increasing dispersion. We explain these industry polarization trends in an estimated general equilibrium model where each industry consists of large superstar oligopolists and small monopolistically competitive firms with endogenous transitions between them. Small firms make investments in speculative innovation to increase their probability of becoming superstars. Our model estimation finds that rising entry barriers in both small and superstar firms contribute to rising polarization in markups, but the rising barriers to creating small firms and increasing tastes for goods produced by superstars account for most of the divergence in <mml:math altimg=\"si13.svg\" display=\"inline\"><mml:mi>Q</mml:mi></mml:math>. Stunting the creation of small firms generates greater incentives for speculative innovation, magnifying the impact of market power dispersion on industry polarization in <mml:math altimg=\"si13.svg\" display=\"inline\"><mml:mi>Q</mml:mi></mml:math>.","PeriodicalId":51346,"journal":{"name":"Journal of Financial Economics","volume":"11 1","pages":""},"PeriodicalIF":8.9,"publicationDate":"2025-01-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142968119","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Book review forum: Pandemic urbanism: Infectious diseases on a planet of cities

IF 4.7 1区经济学

Urban Studies Pub Date : 2025-01-09 DOI: 10.1177/00420980241299674

Ranabir Samaddar, Susannah Bunce, Chiara Camponeschi, David Wilson, S Harris Ali, Creighton Connolly, Roger Keil

引用次数: 0