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PhD holders propensity to work in research-intensive sectors: evidence from Italy 博士生在研究密集型部门工作的倾向：意大利的证据
IF 0.9
Economics and Business Letters Pub Date : 2023-12-15 DOI: 10.17811/ebl.12.4.2023.296-305
Valentino Parisi, Margarida M. Pinheiro
{"title":"PhD holders propensity to work in research-intensive sectors: evidence from Italy","authors":"Valentino Parisi, Margarida M. Pinheiro","doi":"10.17811/ebl.12.4.2023.296-305","DOIUrl":"https://doi.org/10.17811/ebl.12.4.2023.296-305","url":null,"abstract":"PhD holders play an important role in exploring new research areas relevant to the development of knowledge-based economies, and the investment in PhD education is seen as part of a strategy for tomorrows’ society, with doctorates historically being absorbed by an academic career dedicated to teaching and research. However, these days are gone, and the number of PhD holders is far beyond the academic vacancies available. The present study aims at estimating the probability of PhD holders to work in research intensive sectors in Italy. We use data available from the National Institute of Statistics to estimate a probit model with the Heckman correction for the sample selection bias. The study has political consequences related to PhD holders career orientation.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":"16 63","pages":""},"PeriodicalIF":0.9,"publicationDate":"2023-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138999118","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Banking sector openness, a path to social responsibility? Evidence from Southern European banks 银行业开放，通往社会责任之路？南欧银行的证据
IF 0.9
Economics and Business Letters Pub Date : 2023-12-15 DOI: 10.17811/ebl.12.4.2023.284-295
Brahim Gaies
{"title":"Banking sector openness, a path to social responsibility? Evidence from Southern European banks","authors":"Brahim Gaies","doi":"10.17811/ebl.12.4.2023.284-295","DOIUrl":"https://doi.org/10.17811/ebl.12.4.2023.284-295","url":null,"abstract":"Since the global financial crisis of 2008, the practices of the European banking sector have come under public scrutiny.Considered as a source of external shocks, the opening of European banking markets is particularly questioned.Following this trend, this article aims to provide an original study by examining the effect of banking sector openness onbanks' social responsibility. It focuses on the case of Southern European banks, which are the most vulnerable in theEuropean system. The study highlights a significant effect of banking sector openness on banks' social performance.However, the financial performance of banks moderates this effect.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":"4 6","pages":""},"PeriodicalIF":0.9,"publicationDate":"2023-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139000326","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Does export intensity of heterogeneous firms affect leverage? Evidence from a small open economy 异质企业的出口强度会影响杠杆率吗？来自小型开放经济体的证据
IF 0.9
Economics and Business Letters Pub Date : 2023-12-15 DOI: 10.17811/ebl.12.4.2023.356-365
Imran Ramzan, Ömer Lütfi Gebizlioglu
{"title":"Does export intensity of heterogeneous firms affect leverage? Evidence from a small open economy","authors":"Imran Ramzan, Ömer Lütfi Gebizlioglu","doi":"10.17811/ebl.12.4.2023.356-365","DOIUrl":"https://doi.org/10.17811/ebl.12.4.2023.356-365","url":null,"abstract":"Exports at firm level improve the financial performance and thereby contribute to economic growth. Exporting activities require additional financing and become a challenge to manufacturing firms, thus affecting managerial financing decisions. This study explores the impact of export intensity on leverage by using a dataset of manufacturing firms. The results of two-step system GMM reveal that export intensity negatively influences the leverage. We find that a firm’s size positively impacts the leverage, while cash holding has a negative connection with leverage. Finally, we note that board size exhibits a positive relationship to leverage. These findings suggest important policy implications for export promotion, specifically for a small open economy. The results are robust to different sensitivity checks.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":"63 4","pages":""},"PeriodicalIF":0.9,"publicationDate":"2023-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138998103","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
A micro-foundation of a simple financial model with finite-time singularity bubble and its agent-based simulation 具有有限时间奇点泡沫的简单金融模型的微观基础及其基于代理的模拟
IF 0.9
Economics and Business Letters Pub Date : 2023-12-15 DOI: 10.17811/ebl.12.4.2023.277-283
Naohiro Yoshida
{"title":"A micro-foundation of a simple financial model with finite-time singularity bubble and its agent-based simulation","authors":"Naohiro Yoshida","doi":"10.17811/ebl.12.4.2023.277-283","DOIUrl":"https://doi.org/10.17811/ebl.12.4.2023.277-283","url":null,"abstract":"This paper proposes a mathematical model of financial security prices in continuous time with bubbles in which prices may diverge and crash in finite time. Just before the bubbles burst, prices increase super-exponentially. In addition, a discrete-time excess demand model is proposed to provide a micro-foundation for the continuous-time model. The derived discrete-time security price model has the same characteristics as the continuous-time price model and expresses the finite-time singularity. Furthermore, based on the excess demand model, an agent-based simulation is performed to check the price behavior. As expected, we can confirm that prices can diverge in finite time and increase super-exponentially.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":"15 5","pages":""},"PeriodicalIF":0.9,"publicationDate":"2023-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138996623","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
When two banks fall, how do markets react? 当两家银行倒下时，市场会如何反应？
IF 0.9
Economics and Business Letters Pub Date : 2023-12-15 DOI: 10.17811/ebl.12.4.2023.331-341
Dora Almeida, A. Dionísio, Paulo Ferreira
{"title":"When two banks fall, how do markets react?","authors":"Dora Almeida, A. Dionísio, Paulo Ferreira","doi":"10.17811/ebl.12.4.2023.331-341","DOIUrl":"https://doi.org/10.17811/ebl.12.4.2023.331-341","url":null,"abstract":"The most recent fall of the Silicon Valley (SVB) and Credit Suisse (CS) banks increased the fear of a worldwide banking crisis. We analyse the impacts of their fall on five financial indices. We apply detrended fluctuation analysis, static and with sliding windows. We find a higher impact of the SVB fall on the efficiency dynamic of the studied indices, which revealed fluctuating efficiency and a loss of efficiency during the period of the falls. The fall of both banks contributed to some persistence in stock indices returns. The Nasdaq and STOXX Europe 600 Banks are the most and the least efficient indices, respectively. Despite the apparent evidence of inefficiency, it might not necessarily mean a capacity for abnormal profits.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":"18 12","pages":""},"PeriodicalIF":0.9,"publicationDate":"2023-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139000020","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Home-ownership and unemployment: revisiting the Oswald hypothesis from a regional heterogeneity perspective 房屋所有权与失业：从地区异质性角度重新审视奥斯瓦尔德假说
IF 0.9
Economics and Business Letters Pub Date : 2023-12-15 DOI: 10.17811/ebl.12.4.2023.342-355
Timo Tohmo, Jutta Viinikainen
{"title":"Home-ownership and unemployment: revisiting the Oswald hypothesis from a regional heterogeneity perspective","authors":"Timo Tohmo, Jutta Viinikainen","doi":"10.17811/ebl.12.4.2023.342-355","DOIUrl":"https://doi.org/10.17811/ebl.12.4.2023.342-355","url":null,"abstract":"Home-ownership may create both positive and negative externalities. As an example of a negative externality, the so-called Oswald hypothesis suggests that a high home-ownership rate creates frictions in the economy and thus increases the unemployment rate. We approach this hypothesis from a novel perspective by taking into account regional differences in population density and dwelling composition. Using municipality-level panel data, we find that although the phenomenon identified by the Oswald hypothesis may not be omnipresent, it may manifest itself, particularly in semi-urban areas where the share of large ownership dwellings is high. We also find that in-migration to these areas is lower, which is consistent with the view that the home-ownership rate may affect migration flows and, thus, economic dynamics.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":"58 5","pages":""},"PeriodicalIF":0.9,"publicationDate":"2023-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138997342","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The urban mobility of elder workers: evidence with the American Time Use Survey (2003-2018) 老年工人的城市流动性：美国时间使用调查（2003-2018 年）提供的证据
IF 0.9
Economics and Business Letters Pub Date : 2023-12-15 DOI: 10.17811/ebl.12.4.2023.306-312
Jorge Velilla, Raquel Ortega-Lapiedra, Antonio Gutiérrez-Lythgoe
{"title":"The urban mobility of elder workers: evidence with the American Time Use Survey (2003-2018)","authors":"Jorge Velilla, Raquel Ortega-Lapiedra, Antonio Gutiérrez-Lythgoe","doi":"10.17811/ebl.12.4.2023.306-312","DOIUrl":"https://doi.org/10.17811/ebl.12.4.2023.306-312","url":null,"abstract":"This paper explores the commuting behavior of elder workers in the United States, with a focus on metropolitan areas and metropolitan population sizes. Using the American Time Use Survey for the years 2003-2018, estimates reveal a positive correlation between commuting time and residing in metropolitan areas, driven by longer commutes in more populated areas. Furthermore, elder workers in metropolitan areas of more than 2.5 million inhabitants use more public transports than workers in less-populated or non-metropolitan areas. The analysis may allow policy makers to identify which workers may be more affected by the negative consequences of commuting, and also who has more limitations in their commuting behaviors.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":"47 4","pages":""},"PeriodicalIF":0.9,"publicationDate":"2023-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139000044","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
A note on institutional trust and poverty: evidence from Latin America 关于机构信任与贫困的说明：拉丁美洲的证据
IF 0.9
Economics and Business Letters Pub Date : 2023-12-15 DOI: 10.17811/ebl.12.4.2023.313-320
Edgar Demetrio Tovar-García
{"title":"A note on institutional trust and poverty: evidence from Latin America","authors":"Edgar Demetrio Tovar-García","doi":"10.17811/ebl.12.4.2023.313-320","DOIUrl":"https://doi.org/10.17811/ebl.12.4.2023.313-320","url":null,"abstract":"This short paper argues that institutional trust should be considered as an additional factor influencing poverty at the macroeconomic level. By examining a sample of Latin American countries and analyzing annual data from 1995 to 2019 using panel data techniques such as cointegration analysis and panel fully modified least squares, this study estimates the long-term relationships between poverty, economic growth, inequality, and institutional trust. As hypothesized, the empirical evidence suggests that institutional trust also reduces poverty. These findings hold particular significance for Latin America, where inequality levels are relatively high, institutional trust is low, and poverty rates have only recently begun to decline. Therefore, to alleviate poverty, it is crucial to implement public policies that restore and enhance institutional trust.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":"49 23","pages":""},"PeriodicalIF":0.9,"publicationDate":"2023-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138995887","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Online disinformation: an economic analysis 网上虚假信息：经济分析
IF 0.9
Economics and Business Letters Pub Date : 2023-12-15 DOI: 10.17811/ebl.12.4.2023.266-276
Gaetano Lisi
{"title":"Online disinformation: an economic analysis","authors":"Gaetano Lisi","doi":"10.17811/ebl.12.4.2023.266-276","DOIUrl":"https://doi.org/10.17811/ebl.12.4.2023.266-276","url":null,"abstract":"Internet and social networks have hugely increased the quantity of information available to a decision-maker. Unfortunately, this huge quantity of information also includes fake news and false news. Therefore, a decision-maker needs to carefully select the reliable sources of information. This theoretical and empirical paper studies the effects of online disinformation from an economic perspective. Precisely, it introduces the role of disinformation in the choice of the optimal level of information. In the presence of disinformation, of course, information is below its optimal level. Furthermore, if disinformation is regarded as true, a problem of poor quality of information exists in the economy. However, education helps to recognise disinformation. An empirical analysis substantiates the main insights of the theoretical model.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":"343 1","pages":""},"PeriodicalIF":0.9,"publicationDate":"2023-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138996510","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Monetary aggregates in the US since 2020 and post-COVID-19 inflation: evidence from the equation of exchange 美国自 2020 年以来的货币总量与后 COVID-19 通货膨胀：来自交换等式的证据
IF 0.9
Economics and Business Letters Pub Date : 2023-12-15 DOI: 10.17811/ebl.12.4.2023.321-330
Edoardo Beretta, Doris Neuberger
{"title":"Monetary aggregates in the US since 2020 and post-COVID-19 inflation: evidence from the equation of exchange","authors":"Edoardo Beretta, Doris Neuberger","doi":"10.17811/ebl.12.4.2023.321-330","DOIUrl":"https://doi.org/10.17811/ebl.12.4.2023.321-330","url":null,"abstract":"Starting from Irving Fisher’s equation of exchange ( ) at the basis of the quantity theory of money, we analyze from a theoretical macroeconomic-monetary perspective whether the increase of monetary aggregates M1 and M2 might have affected general prices. Moreover, we investigate why monetary aggregates have evolved differently for COVID-19 than in the global financial crisis (2007-2009). The article elaborates on data for the US from Q1/2020 to Q2/2022 and represents the first scientific contribution to the analysis of post-COVID-19 inflation by means of the equation of exchange. We find that money growth seems to have contributed to inflation supporting the “monetarist” view, but that non-monetary drivers such as supply shocks and increasing profit margins outweigh the monetary ones.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":"85 2","pages":""},"PeriodicalIF":0.9,"publicationDate":"2023-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138998221","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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