JOURNAL OF ECONOMICS AND BUSINESS最新文献_第3页

Gender representation in Indian corporate reports: A textual analytics approach 印度公司报告中的性别代表性：文本分析方法

IF 3.4

JOURNAL OF ECONOMICS AND BUSINESS Pub Date : 2026-01-01 Epub Date: 2025-09-12 DOI: 10.1016/j.jeconbus.2025.106271

Rudra P. Pradhan , SMRK Samarakoon , SMNN Sarathkumara

引用次数: 0

Lakes and deserts: Understanding bank presence in Brazil 湖泊和沙漠：了解巴西的银行存在

IF 3.4

JOURNAL OF ECONOMICS AND BUSINESS Pub Date : 2026-01-01 Epub Date: 2025-08-08 DOI: 10.1016/j.jeconbus.2025.106260

Ana Abras , Bennett Bullock , Joyce Maia , Bruno de Paula Rocha

引用次数: 0

Unveiling the impact of sustainability reporting on banking performance: Role of country-specific determinants 揭示可持续发展报告对银行绩效的影响：具体国家决定因素的作用

IF 3.4

JOURNAL OF ECONOMICS AND BUSINESS Pub Date : 2026-01-01 Epub Date: 2025-05-24 DOI: 10.1016/j.jeconbus.2025.106246

Mayank Gupta

引用次数: 0

Post-bankruptcy performance: A systematic literature review on the performance of U.S. firms after emerging from Chapter 11 bankruptcy 破产后的表现：对美国公司从破产法第11章中复苏后表现的系统文献回顾

IF 3.4

JOURNAL OF ECONOMICS AND BUSINESS Pub Date : 2026-01-01 Epub Date: 2025-12-18 DOI: 10.1016/j.jeconbus.2025.106290

Wolfgang Breuer, Simon Haas, Katharina Mersmann

{"title":"Post-bankruptcy performance: A systematic literature review on the performance of U.S. firms after emerging from Chapter 11 bankruptcy","authors":"Wolfgang Breuer, Simon Haas, Katharina Mersmann","doi":"10.1016/j.jeconbus.2025.106290","DOIUrl":"10.1016/j.jeconbus.2025.106290","url":null,"abstract":"<div><div>The Chapter 11 process enables bankrupt firms to reorganize their business to return to profitability. This paper critically evaluates the literature on post-bankruptcy performance of U.S. firms that have emerged from Chapter 11. Analyzing 25 studies, we provide a comprehensive overview of the various post-bankruptcy performance metrics, the influencing factors, and the research methodologies. Post-bankruptcy performance varies significantly across firms, with average refiling rates in these studies between 7 % and 39.3 % decreasing over time, financial performance remaining below industry benchmarks, but stock market performance frequently meeting or exceeding market expectations. Key success factors include firm size, leverage re-duction, industry conditions, and investor involvement, while factors such as CEO turnover and bankruptcy duration show mixed effects. Several research gaps remain, particularly regarding corporate governance, the effects of legal reforms, the use of modern analytical techniques such as machine learning, and potential interacting effects.</div></div>","PeriodicalId":47522,"journal":{"name":"JOURNAL OF ECONOMICS AND BUSINESS","volume":"138 ","pages":"Article 106290"},"PeriodicalIF":3.4,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146116594","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 impact of industrial land reform on corporate innovation input: Evidence from a natural experiment in China 工业用地改革对企业创新投入的影响：来自中国自然实验的证据

IF 3.4

JOURNAL OF ECONOMICS AND BUSINESS Pub Date : 2026-01-01 Epub Date: 2025-11-28 DOI: 10.1016/j.jeconbus.2025.106289

Lin Zhu , Wenjiao Zang

{"title":"The impact of industrial land reform on corporate innovation input: Evidence from a natural experiment in China","authors":"Lin Zhu , Wenjiao Zang","doi":"10.1016/j.jeconbus.2025.106289","DOIUrl":"10.1016/j.jeconbus.2025.106289","url":null,"abstract":"<div><div>This paper investigates the impact of industrial land reform on corporate innovation input. To establish causality, we utilize China’s industrial land reform as an exogenous shock to land use efficiency. Using a difference-in-differences approach, we find that the reform significantly facilitates corporate innovation input. Mechanism analyses reveal two primary channels driving this effect: an increase in internal capital through higher average yield per acre and a greater willingness to innovate due to intensified market competition. Further tests show that the positive relationship between industrial land reform and corporate innovation input is more pronounced in regions with a government land supervision agency, higher levels of land misallocation, and among non-high-tech firms. Additionally, the reform enhances the quantity, quality, and efficiency of innovation outputs. The main results hold for various tests, including parallel trend tests, alternative measures, robust checks with an alternative regression model, and the exclusion of other policies. Taken together, our findings provide insights into the micro-level effects of market-oriented land reforms and the determinants shaping corporate innovation.</div></div>","PeriodicalId":47522,"journal":{"name":"JOURNAL OF ECONOMICS AND BUSINESS","volume":"138 ","pages":"Article 106289"},"PeriodicalIF":3.4,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146116595","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

Technology innovations and product rollover strategies: A real options approach 技术创新和产品展期策略：实物期权方法

IF 3.4

JOURNAL OF ECONOMICS AND BUSINESS Pub Date : 2025-11-01 Epub Date: 2025-09-26 DOI: 10.1016/j.jeconbus.2025.106273

Verena Hagspiel , Kuno J.M. Huisman , Peter M. Kort , Cláudia Nunes , Rita Pimentel

{"title":"Technology innovations and product rollover strategies: A real options approach","authors":"Verena Hagspiel , Kuno J.M. Huisman , Peter M. Kort , Cláudia Nunes , Rita Pimentel","doi":"10.1016/j.jeconbus.2025.106273","DOIUrl":"10.1016/j.jeconbus.2025.106273","url":null,"abstract":"<div><div>As technological innovations emerge, firms with the capacity to invest in new products must determine the optimal timing for such investments and decide the future of their existing products. Upon deciding to invest in the innovative product, the firm faces a choice: a single rollover, replacing the established product entirely, or a dual rollover, where the firm produces both products temporarily before eventually phasing out the established one. This paper presents a theoretical framework to evaluate the optimal timing and product rollover strategies in response to technological progress.</div><div>Technological advancements enhance the quality of the latest available technology over time, implying that later investments yield higher-quality products. This dynamic creates a strategic tradeoff: investing early offers immediate but modest profit gains, while waiting leads to potentially larger payoffs due to the superior quality of later innovations. However, delaying investment means the firm must continue with the established product for a longer period.</div><div>Our findings indicate that a highly uncertain economic environment encourages firms to delay discontinuing the established product. In contrast, a more volatile innovative market prompts earlier entry provided the firm maintains some presence in the established market. Furthermore, if initial demand in the innovative market is low, higher product quality becomes essential for product innovation to be viable. We also show that a higher interest rate makes the firm more inclined to choose a single rollover strategy.</div></div>","PeriodicalId":47522,"journal":{"name":"JOURNAL OF ECONOMICS AND BUSINESS","volume":"137 ","pages":"Article 106273"},"PeriodicalIF":3.4,"publicationDate":"2025-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145584447","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

Target zones on firm’s value 目标以公司价值为基础

IF 3.4

JOURNAL OF ECONOMICS AND BUSINESS Pub Date : 2025-11-01 Epub Date: 2025-11-10 DOI: 10.1016/j.jeconbus.2025.106275

Massimiliano Marzo

引用次数: 0

Managing agriculture commodity price uncertainty with crop switching: A real options approach 用作物转换管理农产品价格的不确定性：一种实物期权方法

IF 3.4

JOURNAL OF ECONOMICS AND BUSINESS Pub Date : 2025-11-01 Epub Date: 2025-08-20 DOI: 10.1016/j.jeconbus.2025.106270

Carlos L. Bastian-Pinto , Luiz G. Bastian , Luiz E. Brandão , Luis Manfredini Hernandez Requejo , Glaucia Fernandes Vasconcelos

{"title":"Managing agriculture commodity price uncertainty with crop switching: A real options approach","authors":"Carlos L. Bastian-Pinto , Luiz G. Bastian , Luiz E. Brandão , Luis Manfredini Hernandez Requejo , Glaucia Fernandes Vasconcelos","doi":"10.1016/j.jeconbus.2025.106270","DOIUrl":"10.1016/j.jeconbus.2025.106270","url":null,"abstract":"<div><div>Investments in agricultural ventures are subject to significant risks due to market price uncertainty. We propose a strategy for farmers to maximize their financial returns and reduce risk based on their capacity to switch crops annually by taking advantage of each crop’s price volatility. We use the real options approach (ROA) to determine the value and risk of annual crop switches in the Brazilian agricultural sector. Four annual crops are selected (soybeans, cotton, corn, and wheat), and their prices are modeled using a mean-reverting stochastic process. Monte Carlo simulation is applied to estimate the value added by crop switching flexibility over a 10-year planting period considering a typical medium-size farm in Brazil. We only consider market price uncertainty for crop switching decisions and assume that such switching can be exercised at zero cost. Results indicate that the option to switch crops annually adds significant value and reduces producers’ financial risk. A lower price correlation between different crop prices yields a greater effect on the value of the crop switching option. Financial valuation of agricultural activity is significant, particularly if it follows a strategy that farmers can easily manage. Quantifying this strategy using the ROA constitutes hedging for farmers who face price volatility risk. To the best of our knowledge, the association of multiple crop choices to price dynamics using the ROA is a novel approach that will enrich the existing literature.</div></div>","PeriodicalId":47522,"journal":{"name":"JOURNAL OF ECONOMICS AND BUSINESS","volume":"137 ","pages":"Article 106270"},"PeriodicalIF":3.4,"publicationDate":"2025-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145584450","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

Valuing oil reserve volumes under price uncertainty 在价格不确定的情况下评估石油储量

IF 3.4

JOURNAL OF ECONOMICS AND BUSINESS Pub Date : 2025-11-01 Epub Date: 2025-11-12 DOI: 10.1016/j.jeconbus.2025.106277

Marco Antonio Guimarães Dias , Roberto Evelim Penha Borges

{"title":"Valuing oil reserve volumes under price uncertainty","authors":"Marco Antonio Guimarães Dias , Roberto Evelim Penha Borges","doi":"10.1016/j.jeconbus.2025.106277","DOIUrl":"10.1016/j.jeconbus.2025.106277","url":null,"abstract":"<div><div>Petroleum reserve is defined as the economically recoverable volume given a capital in place. As an economic concept, the reserve volume is determined by the abandonment decision, with the oil price being a key factor. We estimate the oil reserve volume under oil price uncertainty using the real options (RO) approach. We highlight the similarities and differences between this real abandonment option and the financial put. We compare RO results with discounted cash flow (DCF) results from intuitive and quantitative perspectives. DCF uses expected cash flow to report the value and volume of reserves until the economic life of an oilfield ends (abandonment). RO makes the uncertainty explicit, and the <em>ex-post</em> application of the RO abandonment rule implies a greater reserve volume because it considers the value of waiting before exercising the abandonment option. Paradoxically, for reserve reporting, <em>ex-ante</em> DCF is optimistic about the reserve volume compared with the RO, except in case of mature fields. For the expected volume computation with the abandonment option, we introduce <em>Pruned Pascal’s Algorithm</em> to assess the probability of continuing to produce in the binomial tree. This algorithm is more general and can be used in other RO applications. We use the risk-neutral measure to calculate the reserve value and the real probability measure to calculate the expected reserve volume. Because we employ the real/true probability measure, analysis of the effect of volatility on the reserve volume cannot be performed using the usual <em>ceteris paribus</em> approach. The methodology can also be used in other RO applications.</div></div>","PeriodicalId":47522,"journal":{"name":"JOURNAL OF ECONOMICS AND BUSINESS","volume":"137 ","pages":"Article 106277"},"PeriodicalIF":3.4,"publicationDate":"2025-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145584451","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

Real options: Added return versus added risk 实物期权：增加收益vs增加风险

IF 3.4

JOURNAL OF ECONOMICS AND BUSINESS Pub Date : 2025-11-01 Epub Date: 2025-11-07 DOI: 10.1016/j.jeconbus.2025.106276

Arkadiy V. Sakhartov

引用次数: 0