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Interactions and Influencing Factors Between Enterprise Resilience and Digital Economy: Evidence from Jiangsu Province, China 企业弹性与数字经济的交互作用及影响因素——来自江苏省的证据
IF 1.2 4区 经济学
Bulletin of Economic Research Pub Date : 2025-10-28 DOI: 10.1111/boer.70019
Ziyan Zheng, Yingming Zhu, Pengxing Yin
{"title":"Interactions and Influencing Factors Between Enterprise Resilience and Digital Economy: Evidence from Jiangsu Province, China","authors":"Ziyan Zheng,&nbsp;Yingming Zhu,&nbsp;Pengxing Yin","doi":"10.1111/boer.70019","DOIUrl":"https://doi.org/10.1111/boer.70019","url":null,"abstract":"<div>\u0000 \u0000 <p>This study analyzes the spatiotemporal heterogeneity of the coupling of enterprise resilience and digital economy in Jiangsu Province, China, using the modified Ellison–Glaeser index, coupling coordination degree, and the Tobit regression model. The internal mechanism of coupling is discussed from the aspects of human capital, research and development (R&amp;D) investment, industrial cooperation, economic foundation, foreign capital support, and structural rationalization. The study found that enterprise resilience and the complementarity of the digital economy reflect a gradual collaborative and orderly upgrading process in Jiangsu Province. The spatial linkage pattern is significant, showing an imbalanced and polarized pattern of the synergy being low in the north and high in the south. With respect to the industry sector, the coupling between the enterprise resilience of the tertiary industry and the digital economy is more significant compared to other industries. Furthermore, the absolute difference of the coupling has increased between cities, the interaction between systems has not yet reached the ideal state of cooperation, and a benign interactive model has not yet formed. R&amp;D investment, industrial collaboration, economic foundation, and industrial structure rationalization play a significant role in coupling, while human capital, foreign investment, and industrial structure rationalization show a lag in coupling progress.</p>\u0000 </div>","PeriodicalId":46233,"journal":{"name":"Bulletin of Economic Research","volume":"78 1","pages":"205-223"},"PeriodicalIF":1.2,"publicationDate":"2025-10-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145964401","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
Foreign Investors and the FOMC Announcement Premium: Evidence From the Korean Stock Market 外国投资者和FOMC公告溢价：来自韩国股市的证据
IF 1.2 4区 经济学
Bulletin of Economic Research Pub Date : 2025-10-15 DOI: 10.1111/boer.70007
Jaewan Bae, Jangkoo Kang, Chang Lee
{"title":"Foreign Investors and the FOMC Announcement Premium: Evidence From the Korean Stock Market","authors":"Jaewan Bae,&nbsp;Jangkoo Kang,&nbsp;Chang Lee","doi":"10.1111/boer.70007","DOIUrl":"https://doi.org/10.1111/boer.70007","url":null,"abstract":"<p>We investigate the effect of foreign investor ownership on stock returns during domestic and US monetary policy announcement days in the Korean stock market. Using portfolios sorted on foreign ownership, we show that high foreign ownership portfolios earn higher excess returns on Federal Open Market Committee (FOMC) announcement days, whereas low foreign ownership portfolios do not. Interestingly, Bank of Korea (BK) announcements do not affect portfolio returns. Additionally, foreign investors’ trading activity increases significantly around FOMC announcements. These results are not driven by firms’ global trade dependence. Our article highlights the significant role of foreign investors in generating the FOMC announcement premium in the Korean stock market.</p>","PeriodicalId":46233,"journal":{"name":"Bulletin of Economic Research","volume":"78 1","pages":"189-194"},"PeriodicalIF":1.2,"publicationDate":"2025-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/boer.70007","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145964341","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
Take the Good With the Bad, and the Bad With the Good? An Experiment on Pro-Environmental Compensatory Behavior 好坏兼备，好坏兼备？亲环境补偿行为实验
IF 1.2 4区 经济学
Bulletin of Economic Research Pub Date : 2025-10-15 DOI: 10.1111/boer.70009
Sophie Clot, Gilles Grolleau, Lisette Hafkamp Ibanez
{"title":"Take the Good With the Bad, and the Bad With the Good? An Experiment on Pro-Environmental Compensatory Behavior","authors":"Sophie Clot,&nbsp;Gilles Grolleau,&nbsp;Lisette Hafkamp Ibanez","doi":"10.1111/boer.70009","DOIUrl":"https://doi.org/10.1111/boer.70009","url":null,"abstract":"<p>This study investigates the extent to which people are subject to moral licensing in the environmental domain by examining moral dynamics at a disaggregated level. Using Giving and Taking games with environmental NGOs, we found that aggregate results hide important heterogeneity. Half of the participants engaged in compensatory behavior, with highly environmentally concerned individuals compensating more frequently. Men were more consistent than women, but when they adopted moral licensing, their compensation was significantly greater than that of women. These findings suggest opportunities for improving environmental policy effectiveness.</p>","PeriodicalId":46233,"journal":{"name":"Bulletin of Economic Research","volume":"78 1","pages":"195-204"},"PeriodicalIF":1.2,"publicationDate":"2025-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/boer.70009","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145958123","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
Exit and Entry Dynamics of UK Firms Following the Global Financial Crisis 全球金融危机后英国企业的退出和进入动态
IF 1.2 4区 经济学
Bulletin of Economic Research Pub Date : 2025-10-13 DOI: 10.1111/boer.70008
Florian Gerth, Chad M. Briggs, John Francis T. Diaz
{"title":"Exit and Entry Dynamics of UK Firms Following the Global Financial Crisis","authors":"Florian Gerth,&nbsp;Chad M. Briggs,&nbsp;John Francis T. Diaz","doi":"10.1111/boer.70008","DOIUrl":"https://doi.org/10.1111/boer.70008","url":null,"abstract":"<div>\u0000 \u0000 <p>In this paper, we investigate the dynamics of the United Kingdom entering and exiting firms in determining the long-lasting drop in aggregate total factor productivity (TFP) following the Global Financial Crisis. This is done in an evidential way using a multilateral model that divides real-value output by both a direct and a quantity index. Using micro-level data sourced from Companies House in the United Kingdom, our results extend the literature in showing that the main factor driving the aggregate TFP decline is the <i>within effect</i>, which is the productivity decline in surviving firms. However, the <i>entry</i> and <i>exit</i> effects also significantly contribute to the long-lasting drop in aggregate TFP. We find, exiting firms tend to have higher than average TFP. Furthermore, newly entering firms tend to have lower than average TFP. And, newly entering firms fail to increase their TFP levels over time, thereby depressing the within effect. We suggest that optimal policy decisions require evidence-based analyses of how best to foster economic growth and firm productivity. Otherwise, governments risk repeating similar mistakes in allocating scarce resources to failing or zombie firms, while allowing high-performing enterprises to leave the market.</p></div>","PeriodicalId":46233,"journal":{"name":"Bulletin of Economic Research","volume":"78 1","pages":"174-188"},"PeriodicalIF":1.2,"publicationDate":"2025-10-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145983874","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
Wealth Inequality in the Czech Republic: An Experimental Study on Bridging the Gap Between Perception and Reality 捷克共和国的财富不平等：弥合感知与现实差距的实验研究
IF 1.2 4区 经济学
Bulletin of Economic Research Pub Date : 2025-10-13 DOI: 10.1111/boer.70003
Filip Červenka, Robin Maialeh
{"title":"Wealth Inequality in the Czech Republic: An Experimental Study on Bridging the Gap Between Perception and Reality","authors":"Filip Červenka,&nbsp;Robin Maialeh","doi":"10.1111/boer.70003","DOIUrl":"https://doi.org/10.1111/boer.70003","url":null,"abstract":"<p>This study explores the impact of corrective information on perceptions of wealth inequality and related political attitudes in the Czech Republic. A custom-designed survey experiment revealed the significant underestimation of wealth inequality, as reflected in a perceived Gini coefficient of 39.6, compared to an actual value of 67.5. Despite this stark misperception, the provision of accurate information did not significantly shift preferences concerning redistribution, anti-system sentiments, or political engagement. These findings diverge from previous research on income inequality, suggesting that wealth disparities are processed differently, most likely via heuristic rather than systematic cognition. Future research should aim to refine the respective information delivery methods and further investigate cognitive responses to data on inequality.</p>","PeriodicalId":46233,"journal":{"name":"Bulletin of Economic Research","volume":"78 1","pages":"163-173"},"PeriodicalIF":1.2,"publicationDate":"2025-10-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/boer.70003","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145969923","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
The Impact of Education Quality on Economic Growth: A Panel Cointegration and Causality Analysis 教育质量对经济增长的影响：面板协整与因果分析
IF 1.2 4区 经济学
Bulletin of Economic Research Pub Date : 2025-10-10 DOI: 10.1111/boer.70010
Mariem Gharsallah, Salwa Trabelsi
{"title":"The Impact of Education Quality on Economic Growth: A Panel Cointegration and Causality Analysis","authors":"Mariem Gharsallah,&nbsp;Salwa Trabelsi","doi":"10.1111/boer.70010","DOIUrl":"https://doi.org/10.1111/boer.70010","url":null,"abstract":"<p>The study investigates the dynamic relationship between education quality and economic growth in developed and developing countries for the period 2000–2020. Considering the Group Mean Fully Modified OLS (GM-FMOLS) model, the results prove the existence of long-run equilibrium relationships among observed variables and that education quality has a strong and significant positive impact on economic growth. A Panel Vector Error Correction Model (PVECM) has been adopted to show the long-run and short-run causality among the variables across the countries. The PVECM result reveals the presence of long-run and short-run bidirectional causality between education quality and economic growth.</p>","PeriodicalId":46233,"journal":{"name":"Bulletin of Economic Research","volume":"78 1","pages":"152-162"},"PeriodicalIF":1.2,"publicationDate":"2025-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/boer.70010","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145994002","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
Impacts of Administrative Penalties Toward Digital Technology Companies on Agency Costs: Insights From Chinese Listed Companies 数字技术公司行政处罚对代理成本的影响——来自中国上市公司的观察
IF 1.2 4区 经济学
Bulletin of Economic Research Pub Date : 2025-10-07 DOI: 10.1111/boer.70011
Xiang Cheng, Yihua Ma
{"title":"Impacts of Administrative Penalties Toward Digital Technology Companies on Agency Costs: Insights From Chinese Listed Companies","authors":"Xiang Cheng,&nbsp;Yihua Ma","doi":"10.1111/boer.70011","DOIUrl":"https://doi.org/10.1111/boer.70011","url":null,"abstract":"<div>\u0000 \u0000 <p>Recently, Chinese administrative authorities have introduced administrative penalties, specifically targeting violations of adopting digital technology innovations and applications (termed administrative penalties toward digital technology companies, APDTs). These penalties have significantly heightened operational pressure on Chinese enterprises. This study explores the impact of APDTs on the agency costs between owners and managers. Through a combination of theoretical analysis and empirical testing utilizing Chinese city data and samples of listed companies from 2008 to 2020, we investigate the intricate mechanisms underlying this impact. The findings reveal that, first, APDTs exacerbate the agency conflict between owners and managers, resulting in increased agency costs. Second, the operational mechanism involves the elevation of firms’ debt capital and the reduction of their equity capital, consequently intensifying the agency costs between owners and managers. Lastly, the impact of APDTs on agency costs displays heterogeneity, diminishing as firms’ investment opportunities increase.</p>\u0000 </div>","PeriodicalId":46233,"journal":{"name":"Bulletin of Economic Research","volume":"78 1","pages":"141-151"},"PeriodicalIF":1.2,"publicationDate":"2025-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145969728","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
Empirical Evidence From the Effects of Audit Committee Characteristics on Corporate Efficiency 审计委员会特征对公司效率影响的实证研究
IF 1.2 4区 经济学
Bulletin of Economic Research Pub Date : 2025-10-07 DOI: 10.1111/boer.70005
Meilan Chen, Zhi-Yuan Feng, Sharon. S. Yang
{"title":"Empirical Evidence From the Effects of Audit Committee Characteristics on Corporate Efficiency","authors":"Meilan Chen,&nbsp;Zhi-Yuan Feng,&nbsp;Sharon. S. Yang","doi":"10.1111/boer.70005","DOIUrl":"https://doi.org/10.1111/boer.70005","url":null,"abstract":"<div>\u0000 \u0000 <p>Our research examines the effects of audit committee (AC) mechanisms through the viewpoint of corporate economic efficiency by analyzing 12,561 US firm-year observations from 2002 to 2016. Our research suggests that certain AC characteristics, such as AC independence and the tenure of AC members, may impair firm efficiency because these two AC characteristics will increase monitoring strength and limit management decision-making. Conversely, our regression results highlight that increasing gender diversity, particularly the inclusion of female AC members, can positively impact firm efficiency. Further, through the mechanism analyses, the results indicate that female directors on an AC can improve efficiency by increasing research and development (R&amp;D) investments and financial leverage. However, senior AC members tend to make conservative decisions that can result in a reduction in the firm's leverage and, in turn, harm corporate efficiency.</p>\u0000 </div>","PeriodicalId":46233,"journal":{"name":"Bulletin of Economic Research","volume":"78 1","pages":"124-140"},"PeriodicalIF":1.2,"publicationDate":"2025-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145969690","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
Customers, Banks, and Natural Disasters 客户、银行和自然灾害
IF 1.2 4区 经济学
Bulletin of Economic Research Pub Date : 2025-10-05 DOI: 10.1111/boer.70002
Alex Bao, Whelsy Boungou
{"title":"Customers, Banks, and Natural Disasters","authors":"Alex Bao,&nbsp;Whelsy Boungou","doi":"10.1111/boer.70002","DOIUrl":"https://doi.org/10.1111/boer.70002","url":null,"abstract":"<div>\u0000 \u0000 <p>We examine the impact of natural disasters (NDs) on customer capital and bank risk. Using a large panel dataset from 4066 banks in the Eurozone over the period 2000–2021, we find that NDs negatively affect customer capital through a deterioration of the guarantees provided. This leads to an increase in bank risk characterized by a decline in the quality of banks' assets and a rise in non-performing loans. Furthermore, these results vary according to the type of NDs and bank-specific characteristics (i.e., capitalization, dependence on deposits, and size). This article, therefore, provides evidence of the mechanism connecting natural disasters directly and indirectly to financial stability. This article sheds further light on banks' exposure to climate change risks.</p>\u0000 </div>","PeriodicalId":46233,"journal":{"name":"Bulletin of Economic Research","volume":"78 1","pages":"108-123"},"PeriodicalIF":1.2,"publicationDate":"2025-10-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145983663","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
To Work or Not to Work? Married Men's Earnings and the Labor Supply of Other Household Members 工作还是不工作？已婚男性收入与其他家庭成员的劳动供给
IF 1.2 4区 经济学
Bulletin of Economic Research Pub Date : 2025-09-29 DOI: 10.1111/boer.70004
Neha Agarwal, David Fielding, Arpita Bhattacharjee
{"title":"To Work or Not to Work? Married Men's Earnings and the Labor Supply of Other Household Members","authors":"Neha Agarwal,&nbsp;David Fielding,&nbsp;Arpita Bhattacharjee","doi":"10.1111/boer.70004","DOIUrl":"https://doi.org/10.1111/boer.70004","url":null,"abstract":"<p>Despite rising per capita income, improvements in female educational attainment, and declining fertility, the reported overall female employment rate in India declined from 35% in 1999 to 27% in 2012. This paper examines the association between married men's earnings and the labor supply of other household members. We find a significant negative association between men's earnings and the employment of married women, and our econometric analysis suggests that this association is robust to a range of different types of unobserved heterogeneity. There is no robust negative association between men's earnings and the employment of unmarried women, adolescents, or elderly household members. One potential explanation for these results is a negative income effect of men's earnings on the labor supply of their wives but not on the labor supply of other household members.</p>","PeriodicalId":46233,"journal":{"name":"Bulletin of Economic Research","volume":"78 1","pages":"91-107"},"PeriodicalIF":1.2,"publicationDate":"2025-09-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/boer.70004","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145970185","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
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