James Cassing and Steven Husted
This paper aims to combine the authors' findings of widespread bilateral trade‐share persistence with some recent empirical evidence of substantial and rapid volatility in the…
Abstract
Purpose
This paper aims to combine the authors' findings of widespread bilateral trade‐share persistence with some recent empirical evidence of substantial and rapid volatility in the country source of most products in order to extend the implications of this literature in several ways.
Design/methodology/approach
The paper focuses on the behavior of aggregate bilateral trade flows for a large number of countries over the period 1980‐2000.
Findings
The paper infers that countries are frequently switching to very different products in their export bundles to particular destinations. It also argues that the evidence of rapid product turnover in trade is not inconsistent with traditional factor endowment trade pattern predictions, as has been inferred in the literature. Finally it finds that sunk costs in international trade appear to be external to particular products going to particular destinations but internal to the sum total of bilateral trade.
Originality/value
The novelty of this paper resides in documenting the remarkably constant bilateral trade shares of 93 countries over the past two decades and the combination of this result with other known trade pattern characteristics to arrive at important new conclusions.
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Keywords
The existence of a stable relation between the demand for real cash balances and some few variables relating it to real economic activity is one of the cornerstones of the…
Abstract
The existence of a stable relation between the demand for real cash balances and some few variables relating it to real economic activity is one of the cornerstones of the monetarist approach. Such a relation permits us not only to analyze the impact of monetary change on economic activity but, since it is stable, it also has important predictive content. A better insight is then possible on the analysis of the effects of monetary policy. On this basis, it has been shown that money really matters and that the money supply is, with regard to economic stability, a powerful but also a dangerous weapon when heedlessly used by governments.
Steven A. Brieger and Dirk De Clercq
The purpose of this paper is to provide a better understanding of how the interplay of individual-level resources and culture affects entrepreneurs’ propensity to adopt social…
Abstract
Purpose
The purpose of this paper is to provide a better understanding of how the interplay of individual-level resources and culture affects entrepreneurs’ propensity to adopt social value creation goals.
Design/methodology/approach
Using a sample of 12,685 entrepreneurs in 35 countries from the Global Entrepreneurship Monitor, it investigates the main effects of individual-level resources – measured as financial, human and social capital – on social value creation goals, as well as the moderating effects of the cultural context in which the respective entrepreneur is embedded, on the relationship between individual-level resources and social value creation goals.
Findings
Drawing on the resource-based perspective and Hofstede’s cultural values framework, the results offer empirical evidence that individual-level resources are relevant for predicting the extent to which entrepreneurs emphasise social goals for their business. Furthermore, culture influences the way entrepreneurs allocate their resources towards social value creation.
Originality/value
The study sheds new light on how entrepreneurs’ individual resources influence their willingness to create social value. Moreover, by focussing on the role of culture in the relationship between individual-level resources and social value creation goals, it contributes to social entrepreneurship literature, which has devoted little attention to the interplay of individual characteristics and culture.
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Steven Lui, John Lai, Ben Nanfeng Luo and Peter Moran
Based on two dominant perspectives, team climate and knowledge integration, on team innovation, this study aims to propose a moderated mediation model to examine the interactive…
Abstract
Purpose
Based on two dominant perspectives, team climate and knowledge integration, on team innovation, this study aims to propose a moderated mediation model to examine the interactive effect of inter-team trust and goal clarity on team innovation through knowledge inflows into a team. Considering the two perspectives at the same time will provide a more complete picture on our understanding on team innovation.
Design/methodology/approach
The research model is tested on 150 retail teams of a large apparel firm. Data are collected from two separate surveys, one to store managers and one to store staff members. Moderation mediation regression analysis is conducted on the survey data.
Findings
The regression analysis identified both a positive direct effect of goal clarity on innovation, and a negative moderating effect of goal clarity on the mediation of knowledge inflows between inter-team trust and innovation. In other words, inter-team trust is positively related to team innovation through knowledge inflows when goal clarity is low.
Originality/value
In this study, the authors identify an indirect and negative role of goal clarity on team innovation, and examine the mechanism and boundary of inter-team trust on team innovation. Managers are advised to foster a trusting environment and be aware of cognitive bias in their teams so that their teams can be more innovative.
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This study finds evidence that a stock return is inversely correlated with downside risk, confirming a pattern of risk-aversion behavior. Evidence from testing a stock return's…
Abstract
This study finds evidence that a stock return is inversely correlated with downside risk, confirming a pattern of risk-aversion behavior. Evidence from testing a stock return's response to a change in economic policy uncertainty indicates a significantly negative effect in the Chinese stock market; this conclusion holds true for testing the impacts of changes in fiscal and monetary policy uncertainties. However, the data produce a mixed effect for the change in fiscal policy uncertainty. The evidence produced from examining the geopolitical effect on the stock market strongly supports the presence of an adverse effect on stock market performance.