American Journal of Economics and Sociology最新文献_第2页

Congratulations to Robert Schalkenbach Foundation on 100 Years 祝贺罗伯特·沙肯巴赫基金会成立100周年

IF 0.9 4区经济学

American Journal of Economics and Sociology Pub Date : 2025-01-29 DOI: 10.1111/ajes.12618

Vernon K. Walker

引用次数: 0

When Economic Prowess Is a Liability—Unpredictable Black Swan Events Such as the Financial Crisis and COVID-19 Pandemic Disrupt Hotel Value Dynamics 当经济实力成为一种负担时——金融危机和COVID-19大流行等不可预测的黑天鹅事件会破坏酒店价值动态

IF 0.9 4区经济学

American Journal of Economics and Sociology Pub Date : 2025-01-15 DOI: 10.1111/ajes.12615

Ying Chen, Don Capener

{"title":"When Economic Prowess Is a Liability—Unpredictable Black Swan Events Such as the Financial Crisis and COVID-19 Pandemic Disrupt Hotel Value Dynamics","authors":"Ying Chen, Don Capener","doi":"10.1111/ajes.12615","DOIUrl":"https://doi.org/10.1111/ajes.12615","url":null,"abstract":"<div>\u0000 \u0000 <p>This study examines the relationship between operating efficiency and firm value in the hotel industry during the most recent economic crises: the 2008–2009 financial crisis and the COVID-19 pandemic. Both were Black Swan events that were difficult or impossible to predict in advance. Using a sample of 161,031 hotel firms from 1991 to 2023, we employ OLS and GLS regression models and seemingly unrelated regression analyses to perform the quantitative analysis. Our findings reveal that operating efficiency generally positively impacts firm value, but this relationship varies significantly depending on the nature of the crisis. During the financial crisis, the positive impact of efficiency on firm value was amplified, particularly for financially more robust hotels. Conversely, during the COVID-19 pandemic, the efficiency-value relationship remained stable, with financially more robust hotels experiencing a more pronounced negative impact. These results highlight the need for context-specific approaches to hotel financial management and valuation during Black Swan events, contributing to the literature on hospitality crisis management and financial performance.</p>\u0000 </div>","PeriodicalId":47133,"journal":{"name":"American Journal of Economics and Sociology","volume":"84 3","pages":"521-534"},"PeriodicalIF":0.9,"publicationDate":"2025-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143905365","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 Economics of External Information and Risky Behavior: A Case Study of Avalanche Forecasting and Backcountry Incidents 外部信息和风险行为的经济学：雪崩预测和边远地区事件的个案研究

IF 0.9 4区经济学

American Journal of Economics and Sociology Pub Date : 2025-01-14 DOI: 10.1111/ajes.12617

Perry Ferrell, Joshua C. Hall, Yang Zhou

{"title":"The Economics of External Information and Risky Behavior: A Case Study of Avalanche Forecasting and Backcountry Incidents","authors":"Perry Ferrell, Joshua C. Hall, Yang Zhou","doi":"10.1111/ajes.12617","DOIUrl":"https://doi.org/10.1111/ajes.12617","url":null,"abstract":"<div>\u0000 \u0000 <p>Understanding risk taking is an important part of the economic analysis of human behavior. When engaging in risky behaviors, individuals rely on heuristics and external information. It is an open question as to whether external information about fluctuating risk reduces bad outcomes for risk takers. We examine this question using data from avalanche incidents in wintertime backcountry recreation. The number of people traveling in avalanche terrain in the United States has grown exponentially in the past more than 2 decades, yet major avalanche accidents have remained relatively constant. Using data from reported avalanche incidents in Colorado and Utah, this paper shows that additional avalanche forecasting services reduce dangerous incidents. A policy change in Colorado allows for a difference-in-differences estimation with neighboring forecast centers, which gives causal estimates of forecasting reducing incidents by 42% on higher danger days. This reduction may be partially offset by an increase in incidents on lowest rated danger days.</p>\u0000 </div>","PeriodicalId":47133,"journal":{"name":"American Journal of Economics and Sociology","volume":"84 3","pages":"503-519"},"PeriodicalIF":0.9,"publicationDate":"2025-01-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143905343","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

Economic Freedom and Presidential Elections: A Bayesian Spatial Probit Hierarchical Modeling Approach 经济自由与总统选举：贝叶斯空间概率分层建模方法

IF 0.9 4区经济学

American Journal of Economics and Sociology Pub Date : 2025-01-13 DOI: 10.1111/ajes.12616

Donald J. Lacombe, Timothy Shaughnessy

引用次数: 0

The Belt and Road Initiative and Urban Entrepreneurship: Evidence From the Opening Policy From China “一带一路”倡议与城市创业：来自中国开放政策的证据

IF 0.9 4区经济学

American Journal of Economics and Sociology Pub Date : 2025-01-10 DOI: 10.1111/ajes.12614

Ding Xiong, Xin Zhong, Kai Sun, Sirui Zhao

{"title":"The Belt and Road Initiative and Urban Entrepreneurship: Evidence From the Opening Policy From China","authors":"Ding Xiong, Xin Zhong, Kai Sun, Sirui Zhao","doi":"10.1111/ajes.12614","DOIUrl":"https://doi.org/10.1111/ajes.12614","url":null,"abstract":"<div>\u0000 \u0000 <p>Entrepreneurship is a vital source of high-quality employment in China and is crucial in advancing Chinese-style modernization. Using panel data from 281 prefecture-level cities in China from 2003 to 2021, this study employs difference-in-differences and double machine learning models to examine the impact of the Belt and Road Initiative (BRI) on entrepreneurship. The research findings are as follows: The BRI implementation significantly enhances entrepreneurship at city and provincial levels, with results remaining robust across various tests. The BRI promotes entrepreneurship through industrial innovation, digital trade development, and economic agglomeration. Heterogeneity analysis reveals that the BRI's positive effects on entrepreneurship are more pronounced in small and medium-sized cities and central and western regions. Furthermore, the BRI exhibits significant spatial spillover effects, stimulating entrepreneurship in neighboring cities. The initiative also effectively reduces relative disparities in entrepreneurship across regions, particularly between eastern, central, and western areas, thus promoting coordinated regional development. Additionally, triple-difference results indicate that the BRI's positive effects on urban industrial innovation are mainly concentrated in manufacturing sectors such as energy, equipment, and information technology. This study complements the BRI's effects and provides policy implications for narrowing regional entrepreneurship gaps and promoting high-quality full employment in China.</p>\u0000 </div>","PeriodicalId":47133,"journal":{"name":"American Journal of Economics and Sociology","volume":"84 3","pages":"481-496"},"PeriodicalIF":0.9,"publicationDate":"2025-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143905001","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

Does ESG Performance Affect Supply Chain Concentration? Evidence From China ESG绩效是否影响供应链集中度？来自中国的证据

IF 0.9 4区经济学

American Journal of Economics and Sociology Pub Date : 2025-01-10 DOI: 10.1111/ajes.12612

Panpan Feng, Yimeng Zhang, Seongil Jeon

引用次数: 0

Political Stability, Economic Risk, and Renewable Energy Technology Innovation: International Evidence 政治稳定、经济风险和可再生能源技术创新：国际证据

IF 0.9 4区经济学

American Journal of Economics and Sociology Pub Date : 2025-01-08 DOI: 10.1111/ajes.12613

Hanhua Shao, Yaning Wang

{"title":"Political Stability, Economic Risk, and Renewable Energy Technology Innovation: International Evidence","authors":"Hanhua Shao, Yaning Wang","doi":"10.1111/ajes.12613","DOIUrl":"https://doi.org/10.1111/ajes.12613","url":null,"abstract":"<div>\u0000 \u0000 <p>Renewable energy technology innovation (RETI) is essential for addressing climate change and ensuring energy security, but the impact of political stability on RETI remains underexplored. Using panel data for 65 countries from 2002 to 2022, this paper systematically examines the direct and indirect effects of political stability on RETI, along with the substitution effect of economic risk on political stability, by integrating economic risk into the analysis. The results show that (1) political stability has a significant contribution to RETI, which still holds after robustness tests and the exclusion of endogeneity. (2) Mechanism analysis reveals that political stability influences RETI via three channels: financial stability, industrial stability, and R&D stability. (3) Heterogeneity analysis shows that political stability contributes more significantly to RETI in countries facing higher economic risks. A lower economic risk also promotes RETI and partially substitutes for political stability. The findings offer key insights for maintaining political stability and advancing RETI.</p>\u0000 </div>","PeriodicalId":47133,"journal":{"name":"American Journal of Economics and Sociology","volume":"84 3","pages":"449-465"},"PeriodicalIF":0.9,"publicationDate":"2025-01-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143905122","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

Climate Denialism 气候拒绝

IF 0.9 4区经济学

American Journal of Economics and Sociology Pub Date : 2024-12-31 DOI: 10.1111/ajes.12611

Tinus Pulles

引用次数: 0

The Effect of Housing Prices on Urban Innovation Capability: New Evidence From 246 Chinese Cities 房价对城市创新能力的影响：来自246个中国城市的新证据

IF 0.9 4区经济学

American Journal of Economics and Sociology Pub Date : 2024-12-27 DOI: 10.1111/ajes.12610

Zuanxu Chen, Mingyang Li, Marina Zhang

{"title":"The Effect of Housing Prices on Urban Innovation Capability: New Evidence From 246 Chinese Cities","authors":"Zuanxu Chen, Mingyang Li, Marina Zhang","doi":"10.1111/ajes.12610","DOIUrl":"https://doi.org/10.1111/ajes.12610","url":null,"abstract":"<div>\u0000 \u0000 <p>This study investigates the impact of rising housing prices on urban innovation capabilities from a comprehensive and systemic perspective, using panel data from 246 Chinese cities from 2004 to 2020. The findings challenge traditional views that emphasize only the negative effects of high housing prices on innovation. Instead, the analysis reveals that rising housing prices can enhance urban innovation through specific mechanisms. These include attracting and concentrating talent and generating spatial spillover effects that benefit neighboring cities. The study employs feasible methodological approaches, including the analytic hierarchy process (AHP), to measure urban innovation capability and spatial econometric models to capture spillover effects. The results provide valuable insights for policymakers to promote urban innovation, including stabilizing housing markets, optimizing industrial structures, attracting high-skilled individuals, and establishing inter-city innovation coordination mechanisms. This research contributes a novel theoretical framework for understanding the complex relationship between housing prices and urban innovation, enriching the fields of urban economics and innovation studies.</p>\u0000 </div>","PeriodicalId":47133,"journal":{"name":"American Journal of Economics and Sociology","volume":"84 2","pages":"427-440"},"PeriodicalIF":0.9,"publicationDate":"2024-12-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143530641","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

AJES Board Response to an Internal Controversy About Climate-Change Denial AJES董事会对否认气候变化的内部争议的回应

IF 0.9 4区经济学

American Journal of Economics and Sociology Pub Date : 2024-12-24 DOI: 10.1111/ajes.12609

Ted Gwartney, Alexandra Lough

引用次数: 0