We examine the effect of competition on banking stability using a new measure of competition based on the reallocation of profits from inefficient banks to efficient ones. In a sample of European ...Banks, we find that this measure does capture competition, that competition is stability-enhancing, and that the stability-enhancing effect of competition is greater for healthy banks than for fragile ones. Our results suggest that efficiency is the conduit through which competition contributes to stability and that regulators must condition policy on the health of existing banks.
Compared to large established firms, technology‐based new firms (TBNF) seem well placed to produce breakthrough innovations although questions remain as to their adeptness at subsequent exploitation. ...Building on the innovation and strategy literatures, the study identifies two different knowledge‐development approaches or modes (business models) in TBNFs—internal versus external—and examines their relation to breakthrough innovation and subsequent progression of the product to market. The internal mode assembles knowledge inside the firm to generate its innovations, whereas the external mode relies heavily on alliances to develop and assemble knowledge among firms embedded in a creative network. The study uses a unique panel dataset of 69 UK new biotechnology firms over an 11‐year period to explore this issue empirically. The findings show that the external knowledge‐development mode is associated with more breakthrough innovations and a faster movement of innovations to market. The externally focused mode is not impeded by its relative lack of internal knowledge; it uses partners to access, assemble, and develop a wide scope of knowledge in a flexible manner. In addition, partners provide deep domain expertise to undertake the requisite deep‐dives. In contrast, the internal mode has the huge challenge of assembling knowledge resources internally and suffers from a quicker onset of path dependence that impedes the generation of breakthroughs. This study provides a choice of business models (internal or external) that is associated with different breakthrough and speed to market performance outcomes. Going forward, policy makers and managers seeking breakthrough innovations, and speedy progression of the innovations to market should consider the potential resource efficiency of the external mode and the vital role played by collaborations—small firm versus large firm and private versus public entities.
Women in top management and agency costs Jurkus, Anthony F.; Park, Jung Chul; Woodard, Lorraine S.
Journal of business research,
02/2011, Letnik:
64, Številka:
2
Journal Article
Recenzirano
This study investigates gender diversity among the top managers of Fortune 500 firms and its effect on agency costs. The study finds that firms with a greater percentage of female officers present ...lower agency costs but that the negative relation is not robust when considering the endogeneity of diversity. The study also finds that external governance influences the relationship. Although increasing diversity does not reduce agency costs for all firms, the evidence shows that diversity is significantly negatively related to agency costs in firms in less competitive markets. The results suggest that increasing diversity in management can have beneficial effects for firms where strong external governance is absent.
Purpose - The purpose of this paper is to provide an understanding of the WEB 2.0 phenomenon and its implications on knowledge management; thus, in order to learn whether using WEB 2.0 concepts and ...tools can yield better assimilation of knowledge management in organizations.Design methodology approach - A range of recently published articles regarding WEB 2.0, Enterprise 2.0 and KM 2.0 are examined and critiqued (2005-2007). These are analyzed and compared to knowledge management principles and attributes as known and learned from works defining the sharing of knowledge in organizations (1995-2005). The sources are divided into three basic elements: The Internet (WEB 2.0), the organizational implementation (Enterprise 2.0) and the organizational implementation of knowledge sharing (KM2.0).Findings - WEB 2.0 is very close in its principles and attributes to knowledge management. WEB 2.0 should affect knowledge management in organizations; yet, it cannot be copied, as differences between the two will not enable organizations to benefit from such. In the first stage, tools can be adopted, and in further stages, deeper aspects such as active users' participation will be followed.Practical implications - Organizations are encouraged to start using WIKI's and in some cases also blogs. Knowledge Managers should examine if younger employees can serve as knowledge catalysts. WEB 2.0 concepts should be tested as to organization's maturity, to decide if they can be adopted as part of the organizational knowledge sharing.Originality value - This paper analyzes an important issue whether better assimilation of knowledge management can exist triggered by the WEB 2.0 phenomenon. It is unique in its broad analysis of the three related terms - WEB 2.0, Enterprise 2.0 and KM2.0.
Whereas there are recent papers on the effect of robot adoption on employment and wages, there is no evidence on how robots affect non‐monetary working conditions. We explore the impact of robot ...adoption on several domains of non‐monetary working conditions in Europe over the period 1995–2005 combining information from the World Robotics Survey and the European Working Conditions Survey. In order to deal with the possible endogeneity of robot deployment, we employ an instrumental variables strategy, using the robot exposure by sector in other developed countries as an instrument. Our results indicate that robotization has a negative impact on the quality of work in the dimension of work intensity and no relevant impact on the domains of physical environment or skills and discretion.
How has the United Nations dealt with the question of terrorism before and after September 11? What does it mean that the UN itself has become a target of terrorism? Terrorism and the UN analyzes how ...the UN's role in dealing with terrorism has been shaped over the years by the international system, and how events such as September 11 and the American intervention in Iraq have reoriented its approach to terrorism. The first half of the book addresses the international context. Chapters in this part consider the impact of September 11 on the UN's concern for the rights and security of states relative to those of individuals, as well as the changing attitudes of various Western powers toward multilateral vs. unilateral approaches to international problems. The second half of the book focuses more closely on the UN, its values, mechanisms, and history and its future role in preventing and reacting to terrorism. The Security Council's position on and reactions to terrorist activities are contrasted with the General Assembly's approach to these issues. What role the UN might play in suppressing the political economy of terrorism is considered. A concluding chapter looks at broader, more proactive strategies for addressing the root causes of terrorism, with an emphasis on social justice as a key to conflict prevention, a primary concern of the UN, particularly the General Assembly, before September 11. Contributors are Jane Boulden, Chantal de Jonge Oudraat (Georgetown University), Edward C. Luck (Columbia University), S. Neil MacFarlane (University of Oxford), Rama Mani (Geneva Centre for Security Policy), M. J. Peterson (University of Massachusetts, Amherst), Nico Schrijver (Vrije Universiteit, Amsterdam), Mónica Serrano (Colegio de México and University of Oxford), Thierry Tardy (Geneva Centre for Security Policy), Karin von Hippel (King's College, London), and Thomas G. Weiss.
Crespo Cuaresma J., Doppelhofer G. and Feldkircher M. The determinants of economic growth in European regions, Regional Studies. This paper uses Bayesian model averaging (BMA) to find robust ...determinants of economic growth between 1995 and 2005 in a new data set of 255 European regions. It finds that income convergence between countries is dominated by the catching-up of regions in new member states in Central and Eastern Europe, whereas convergence within countries is driven by regions in old European Union member states. Regions containing capital cities are growing faster, particularly in Central and Eastern European countries, as do regions with a large share of workers with a higher education. The results are robust when allowing for spatial spillovers among European regions.
From 1995 to 2005, the average urban household savings rate in China rose by 7 percentage points, to about one-quarter of disposable income. Savings rates increased across all demographic groups, and ...the age profile of savings has an unusual pattern in recent years, with younger and older households having relatively high savings rates. We argue that these patterns are best explained by the rising private burden of expenditures on housing, education, and health care. These effects and precautionary motives may have been amplified by financial underdevelopment, including constraints on borrowing against future income and low returns on financial assets.
American power has been subjected to extensive analysis since September 11, 2001. While there is no consensus on the state of US hegemony or even on the precise meaning of the term, it is clear that ...under George W. Bush the US has not only remained the 'lone superpower' but has increased its global military supremacy. At the same time, the US has become more dependent on its economic, financial and geopolitical relationships with the rest of the world than at any other time in its history, markedly since the events of 9/11.
The distinguished scholars in this volume critically interpret US hegemony from a range of theoretical and topical perspectives. They discuss the idea of empire in the age of globalization, critique the Bush doctrine, analyze the ideologies underpinning a new American imperialism and examine the influence of neo-conservatism on US foreign and domestic policy.
The authors investigate recent patterns in mental health at the workplace across 15 European countries using three waves of the European Working Conditions Survey. Their study shows that adverse ...working conditions, defined in terms of job demands and job hazards, are strongly associated with workers' mental health problems, and it also finds a causal effect of job quality on workers' mental health. Their analysis detects heterogeneous effects across countries and demographic groups and shows that labor market regulations and health care systems explain some of these cross-country differences.
PDF
