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How Do Technological Mergers and Acquisitions Affect Corporate Innovation? Evidence From China 技术并购如何影响企业创新？来自中国的证据
IF 1.2 4区 经济学
Bulletin of Economic Research Pub Date : 2026-04-03 Epub Date: 2025-11-14 DOI: 10.1111/boer.70013
Weijie Luo
{"title":"How Do Technological Mergers and Acquisitions Affect Corporate Innovation? Evidence From China","authors":"Weijie Luo","doi":"10.1111/boer.70013","DOIUrl":"10.1111/boer.70013","url":null,"abstract":"<div>\u0000 \u0000 <p>Using manufacturing firm-level data from China over the period 2011–2018, we investigate how technological mergers and acquisitions (M&amp;As) affect firm innovation. Our empirical results show that technological M&amp;As can significantly improve innovation performance. Our results hold across various econometric specifications, including when technological M&amp;As are instrumented with variables encapsulating the number of Christian colleges. However, this significant evidence applies mainly to non-state-owned, smaller, and high-technology firms. The increase in innovation is significantly larger for firms located in cities with higher levels of fiscal decentralization, higher education, or foreign direct investment. Moreover, the size of an enterprise's knowledge base is an essential factor in adjusting the effect of technological M&amp;As on corporate innovation. We also find that firms with a knowledge base have more incentives to innovate when facing technological M&amp;As. This study provides a theoretical basis and a practical reference for enterprises to make better decisions regarding innovation.</p></div>","PeriodicalId":46233,"journal":{"name":"Bulletin of Economic Research","volume":"78 2","pages":"317-327"},"PeriodicalIF":1.2,"publicationDate":"2026-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147686005","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"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
Frisch Elasticity, Directed Technical Change, and Automation: A Unified Framework for Wage Polarization and Skill Premium Dynamics 弹性、定向技术变革和自动化：工资两极分化和技能溢价动态的统一框架
IF 1.2 4区 经济学
Bulletin of Economic Research Pub Date : 2026-04-03 Epub Date: 2025-11-24 DOI: 10.1111/boer.70028
Óscar Afonso
{"title":"Frisch Elasticity, Directed Technical Change, and Automation: A Unified Framework for Wage Polarization and Skill Premium Dynamics","authors":"Óscar Afonso","doi":"10.1111/boer.70028","DOIUrl":"10.1111/boer.70028","url":null,"abstract":"<p>This paper examines how labor-supply responsiveness, captured by the inverse Frisch elasticity, shapes wage inequality in the presence of directed technical change and automation. We develop a dynamic general equilibrium model with task-based production, heterogeneous labor, and endogenous R&amp;D. The model yields closed-form expressions for the skill premium and sectoral wage gaps. We show that while the Frisch elasticity does not affect the long-run growth rate, it plays a critical role in amplifying wage differentials. As labor supply becomes more elastic, small technological or compositional changes lead to disproportionate inequality. Contrary to conventional narratives, automation alone does not generate wage polarization unless combined with highly responsive labour supply and a sufficient mass of routine workers. A calibration based on US data confirms that realistic inequality patterns arise only for moderate values of the Frisch elasticity. The analysis provides new insights on the interaction between supply-side elasticities and technological change in shaping wage structures.</p>","PeriodicalId":46233,"journal":{"name":"Bulletin of Economic Research","volume":"78 2","pages":"344-357"},"PeriodicalIF":1.2,"publicationDate":"2026-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/boer.70028","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147686224","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"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
Banking on Banksy: Banksy Prints as an Investment 寄希望于班克西：班克西版画作为一种投资
IF 1.2 4区 经济学
Bulletin of Economic Research Pub Date : 2026-04-03 Epub Date: 2025-12-10 DOI: 10.1111/boer.70022
Amangeldi Kenjegaliev, Oliver Witty, Aliya Kenjegalieva
{"title":"Banking on Banksy: Banksy Prints as an Investment","authors":"Amangeldi Kenjegaliev,&nbsp;Oliver Witty,&nbsp;Aliya Kenjegalieva","doi":"10.1111/boer.70022","DOIUrl":"10.1111/boer.70022","url":null,"abstract":"<div>\u0000 \u0000 <p>The dual aim of this study is to understand if investment in prints by “Banksy” yields a non-negative return and to compare it to the conventional financial instruments. To achieve this, we estimate an annual index of prices between 2007 and 2020 for 552 price pairs of modern prints by “Banksy.” Our results suggest the financial performance of Banksy prints considerably improved, in terms of returns, from 2014 onwards. We surmise two explanations for this. First, the perception of Banksy's street art is growing more favorably by the public—both in and out of the “artistic community.” Second, the supply of original works of art by Banksy is finite. Hence, a rise in wealthy professional investors at online auctions caused the estimated index to behave in this way, crowding out less affluent collectors in the process.</p>\u0000 </div>","PeriodicalId":46233,"journal":{"name":"Bulletin of Economic Research","volume":"78 2","pages":"443-457"},"PeriodicalIF":1.2,"publicationDate":"2026-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147686085","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"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
Field Evidence on Nudging High School Students Towards Pro-Environmental Behavior 推动高中生亲环境行为的实地证据
IF 1.2 4区 经济学
Bulletin of Economic Research Pub Date : 2026-04-03 Epub Date: 2025-11-14 DOI: 10.1111/boer.70023
Rustam Romaniuc, Odile Séré de Lanauze, Lisette Hafkamp-Ibanez, Sébastien Roussel
{"title":"Field Evidence on Nudging High School Students Towards Pro-Environmental Behavior","authors":"Rustam Romaniuc,&nbsp;Odile Séré de Lanauze,&nbsp;Lisette Hafkamp-Ibanez,&nbsp;Sébastien Roussel","doi":"10.1111/boer.70023","DOIUrl":"10.1111/boer.70023","url":null,"abstract":"<p>This paper contributes to the literature studying the effect of green nudges on the behavior of young people, particularly adolescents. We conducted a field experiment involving high school students to assess the effectiveness of a nudging strategy that aimed at motivating them to power off computers when they are not used in the classroom. Our nudging strategy resulted in a significant reduction in computer power in the treated high school compared to a control high school. We discuss the relevance of our work for research on young people's pro-environmental behavior as well as the implications in terms of policy-making.</p>","PeriodicalId":46233,"journal":{"name":"Bulletin of Economic Research","volume":"78 2","pages":"328-333"},"PeriodicalIF":1.2,"publicationDate":"2026-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/boer.70023","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147686006","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"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
Educational Heterogeneity in Labor Income Profiles 劳动收入概况中的教育异质性
IF 1.2 4区 经济学
Bulletin of Economic Research Pub Date : 2026-04-03 Epub Date: 2025-11-24 DOI: 10.1111/boer.70026
Ali Güneş
{"title":"Educational Heterogeneity in Labor Income Profiles","authors":"Ali Güneş","doi":"10.1111/boer.70026","DOIUrl":"10.1111/boer.70026","url":null,"abstract":"<div>\u0000 \u0000 <p>Utilizing the correct form of labor income process as an ingredient in the macro-labor framework might pave the way for explaining the income and wealth inequalities observed in the data. Using the Panel Study of Income Dynamics, this paper employs the minimum distance estimation method to decompose labor income profiles into ex ante and ex post components for different education groups. The results present no ex post heterogeneity but substantial ex ante heterogeneity between college and noncollege graduates. The intercept, linear, and quadratic heterogeneity for college graduates are around 1.5, 2.5, and 3 times as high as those for noncollege graduates, respectively.</p>\u0000 </div>","PeriodicalId":46233,"journal":{"name":"Bulletin of Economic Research","volume":"78 2","pages":"334-343"},"PeriodicalIF":1.2,"publicationDate":"2026-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147686225","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"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
Take It Easy! How Flexible Work Arrangements Bust the Commuting Life Satisfaction Nexus 放轻松！弹性工作制如何破坏通勤生活满意度关系
IF 1.2 4区 经济学
Bulletin of Economic Research Pub Date : 2026-04-03 Epub Date: 2025-11-06 DOI: 10.1111/boer.70020
Marco Kühne
{"title":"Take It Easy! How Flexible Work Arrangements Bust the Commuting Life Satisfaction Nexus","authors":"Marco Kühne","doi":"10.1111/boer.70020","DOIUrl":"10.1111/boer.70020","url":null,"abstract":"<p>Commuting to work can negatively affect people's well-being. This paper analyzes the effect of commuting distance on subjective well-being for employees under different work time regimes. The analysis is based on data from the German Socio-Economic Panel (GSOEP) for 2003–2021. The causal effect of commuting distance is identified by quasi-experimental changes for employees who experience firm relocation. Accounting for idiosyncratic unobserved effects, the results suggest that the loss in life satisfaction is about two and a half times higher for employees in non-flexible work arrangements than for those in a flexible work regime.</p>","PeriodicalId":46233,"journal":{"name":"Bulletin of Economic Research","volume":"78 2","pages":"261-267"},"PeriodicalIF":1.2,"publicationDate":"2026-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/boer.70020","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147686847","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"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
Unveiling Convergence in Healthcare Expenditures in OECD Countries: Evidence From Club Convergence Analysis 揭示经合组织国家医疗保健支出趋同：来自俱乐部趋同分析的证据
IF 1.2 4区 经济学
Bulletin of Economic Research Pub Date : 2026-04-03 Epub Date: 2025-11-09 DOI: 10.1111/boer.70021
Şekip Yazgan, Fatih Hakan Dikmen, Reşat Ceylan, Dilek Başar
{"title":"Unveiling Convergence in Healthcare Expenditures in OECD Countries: Evidence From Club Convergence Analysis","authors":"Şekip Yazgan,&nbsp;Fatih Hakan Dikmen,&nbsp;Reşat Ceylan,&nbsp;Dilek Başar","doi":"10.1111/boer.70021","DOIUrl":"10.1111/boer.70021","url":null,"abstract":"<div>\u0000 \u0000 <p>The purpose of this study is to investigate the convergence dynamics of per capita healthcare expenditures in OECD countries. The study employs the Club Convergence Hypothesis framework, following the approach proposed by Phillips and Sul. There is no overall convergence in per capita health expenditure among OECD countries during the period studied. However, 38 OECD countries were categorized into three final convergence clubs based on per capita health expenditure: Club A includes 23 countries, Club B consists of 9 countries, and Club C comprises 6 countries. A comprehensive analysis of the commonalities and divergences in the healthcare systems of countries within these clubs yields valuable policy recommendations.</p>\u0000 </div>","PeriodicalId":46233,"journal":{"name":"Bulletin of Economic Research","volume":"78 2","pages":"268-277"},"PeriodicalIF":1.2,"publicationDate":"2026-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147686083","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"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
Geopolitical Risk and Corporate Environmental Performance 地缘政治风险与企业环境绩效
IF 1.2 4区 经济学
Bulletin of Economic Research Pub Date : 2026-04-03 Epub Date: 2025-11-30 DOI: 10.1111/boer.70030
Lin Zhang
{"title":"Geopolitical Risk and Corporate Environmental Performance","authors":"Lin Zhang","doi":"10.1111/boer.70030","DOIUrl":"10.1111/boer.70030","url":null,"abstract":"<div>\u0000 \u0000 <p>This paper takes Shanghai and Shenzhen A-share listed companies in China from 2008 to 2020 as the research sample (26,805 observations) to systematically examine the impact of geopolitical risks on corporate environmental performance. Based on panel data, a fixed-effects regression model is constructed, and a variety of robustness test methods are employed to verify the research conclusions, including the one-period lag of the core explanatory variable, the instrumental variable method, eliminating the impact of economic policy uncertainty, and constructing a difference-in-differences model. Empirical results show that geopolitical risks significantly improve corporate environmental performance. Mechanism analysis reveals that geopolitical risks promote environmental performance mainly by enhancing enterprises' green innovation capabilities and improving resource allocation efficiency. Heterogeneity analysis further indicates that for enterprises with higher analyst attention, stronger innovation capacity, lower financial mismatch, and higher total factor productivity, the positive impact of geopolitical risks on their environmental performance is more significant. This paper not only reveals the internal mechanism by which geopolitical risks affect corporate environmental performance but also provides a scientific basis for governments to formulate relevant policies and for enterprises to enhance their green competitiveness.</p>\u0000 </div>","PeriodicalId":46233,"journal":{"name":"Bulletin of Economic Research","volume":"78 2","pages":"385-409"},"PeriodicalIF":1.2,"publicationDate":"2026-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147686343","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"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 Effect of Relocation on Risk Aversion 搬迁对风险规避的影响
IF 1.2 4区 经济学
Bulletin of Economic Research Pub Date : 2026-04-03 Epub Date: 2025-12-18 DOI: 10.1111/boer.70033
Dawoon Jung
{"title":"The Effect of Relocation on Risk Aversion","authors":"Dawoon Jung","doi":"10.1111/boer.70033","DOIUrl":"10.1111/boer.70033","url":null,"abstract":"<div>\u0000 \u0000 <p>Risk preferences are one of the crucial parameters which can affect an individual's decisions. Thus, understanding the formation of risk preferences is crucial for comprehending economic behavior and its underlying factors. This paper examines the impact of family composition on risk preferences, with a particular focus on whether leaving the original household affects changes in risk preferences. Drawing on data collected from the National Survey of Tax and Benefits (NASTAB), a representative panel survey of households in Korea, the study finds that individuals who have moved out tend to exhibit lower levels of risk aversion. Moreover, there is variation in the impact of moving out observed over the years subsequent to relocation. Furthermore, employing measures of financial behavior, the study finds that individuals who have relocated are more inclined to purchase additional private insurance.</p></div>","PeriodicalId":46233,"journal":{"name":"Bulletin of Economic Research","volume":"78 2","pages":"479-497"},"PeriodicalIF":1.2,"publicationDate":"2026-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147686055","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"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
Reversal of Bertrand–Cournot Ranking for Optimal Privatization Level 最优私有化水平Bertrand-Cournot排序的反转
IF 1.2 4区 经济学
Bulletin of Economic Research Pub Date : 2026-04-03 Epub Date: 2025-11-06 DOI: 10.1111/boer.70018
Arindam Paul, Parikshit De
{"title":"Reversal of Bertrand–Cournot Ranking for Optimal Privatization Level","authors":"Arindam Paul,&nbsp;Parikshit De","doi":"10.1111/boer.70018","DOIUrl":"10.1111/boer.70018","url":null,"abstract":"<div>\u0000 \u0000 <p>We analyze a mixed duopoly market with a public and a private firm competing in the downstream market. The public firm is partially privatized and a regulator decides on the privatization level to maximize welfare. A foreign monopolist supplies a key input for producing the final commodity and may use uniform or discriminatory pricing; we observe that the presence of a foreign monopolist practicing price discrimination may lead to the privatization of a public firm. The overall findings show that under uniform pricing, the Cournot competition leads to higher privatization levels, while under discriminatory pricing, the Bertrand competition leads to higher privatization levels. The sensitivity of the Cournot–Bertrand rankings to the substitutability also depends on the pricing regime.</p></div>","PeriodicalId":46233,"journal":{"name":"Bulletin of Economic Research","volume":"78 2","pages":"242-260"},"PeriodicalIF":1.2,"publicationDate":"2026-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147686845","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"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
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