ENTREPRENEURSHIP AND THE BUSINESS CYCLE Koellinger, Philipp D.; Thurik, A. Roy
The review of economics and statistics,
11/2012, Volume:
94, Issue:
4
Journal Article
Peer reviewed
Open access
We find new empirical regularities in the business cycle in a cross-country panel of 22 OECD countries for the period 1972 to 2007; entrepreneurship Granger-causes the cycles of the world economy. ...Furthermore, the entrepreneurial cycle is positively affected by the national unemployment cycle. We discuss possible causes and implications of these findings.
Purpose - The objective of this paper is to conceptualise supply chain resilience (SCRES) and to identify and explore empirically its relationship with the related concepts of supply chain ...vulnerability (SCV) and supply chain risk management (SCRM).Design methodology approach - From a review of the literature the conceptual domain of SCRES is defined and the proposed relationships with SCRM and SCV are derived. Data from a longitudinal case study with three supply chains are presented to explore the relationship between the concepts in the context of the global financial crisis.Findings - The empirical data provide support for a positive impact of supply chain risk (SCR) effect and knowledge management on SCRES and from SCRES on SCV. SCR effect and knowledge management seem to enhance the SCRES by improving the flexibility, visibility, velocity and collaboration capabilities of the supply chain. Thereby, they decrease the SCV in a disruptive risk event. The positive effects manifest themselves in upstream supplier networks of supply chains as well as in distribution channels to the customers.Research limitations implications - The recession caused by the financial crisis has illustrated the importance of SCRES in today's interdependent global economy vividly. However, the concept is still in its infancy and has not received the same attention as its counterparts SCRM and SCV. The study confirms the benefit of resilient supply chains and outlines future research needs.Practical implications - The paper identifies which supply chain capabilities can support the containment of disruptions and how these capabilities can be supported by effective SCRM.Originality value - To date, there has been no empirical study which has investigated supply chain resilience in a disruptive global event.
The recent financial crisis poses the challenge to understand how systemic risk arises endogenously and what architecture can make the financial system more resilient to global crises. This paper ...shows that a financial network can be most resilient for intermediate levels of risk diversification, and not when this is maximal, as generally thought so far. This finding holds in the presence of the financial accelerator, i.e. when negative variations in the financial robustness of an agent tend to persist in time because they have adverse effects on the agent's subsequent performance through the reaction of the agent's counterparties.
The coronavirus disease 2019 (COVID-19) pandemic has impacted the world economy in various ways. In particular, the drastic shift to telework has dramatically changed how people work. Whether the new ...style of working from home (WFH) will remain in our society highly depends on its effects on workers' productivity. However, to the best of our knowledge, the effects of WFH on productivity are still unclear. By leveraging unique surveys conducted at four manufacturing firms in Japan, we assess within-company productivity differences between those who work from home and those who do not, along with identifying possible factors of productivity changes due to WFH. Our main findings are as follows. First, after ruling out the time-invariant component of individual productivity and separate trends specific to employee attributes, we find that workers who worked from home experienced productivity declines more than those who did not. Second, our analysis shows that poor WFH setups and communication difficulties are the major reasons for productivity losses. Third, we find that the mental health of workers who work from home is better than that of workers who are unable to work from home. Our result suggests that if appropriate investments in upgrading WFH setups and facilitating communication can be made, WFH may improve productivity by improving employees' health and well-being.
Using a large sample of 3,040 U.S. firms and 16,606 firm-year observations over the 1991–2010 period, we find strong evidence that firm internationalization is positively related to the firm's ...corporate social responsibility (CSR) rating. This finding persists when we use alternative estimation methods, samples, and proxies for internationalization and when we address endogeneity concerns. We also provide evidence that the positive relation between internationalization and CSR rating holds for a large sample of firms from 44 countries. Finally, we offer novel evidence that firms with extensive foreign subsidiaries in countries with well-functioning political and legal institutions have better CSR ratings. Our findings shed light on the role of internationalization in influencing multinational firms' CSR activities in the U.S. and around the world.
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