infonet-economy

This paper analyses how news-based scores in environmental CSR may have influence d the monthly stocks’ market return in UD and UK during the 2007–2014 period . By linear regression, we find that. Our models show a positive and significant relationship between the environmental score and the market performance. We also consistently measured the impact of environmental news-based...

While smooth exact potential games are easily characterized in terms of the cross-derivatives of players' payoff functions, an analogous differentiable characterization of ordinal or generalized ordinal potential games has been elusive for a long time. In this paper, it is shown that the existence of a generalized ordinal potential in a smooth game with multi-dimensional...

Throughout human history, informal sanctions by peers were ubiquitous and played a key role in the enforcement of social norms and the provision of public goods. However, a considerable body of evidence suggests that informal peer sanctions cause large collateral damage and efficiency costs. This raises the question whether peer sanctioning systems exist that avoid these costs and...

We study optimal incentive contracts with multiple agents when performance evaluation is delegated to a reviewer. The reviewer may be biased in favor of the agents, but the degree of the bias is unknown to the principal. We show that a contest, which is a contract in which the principal determines a set of prizes to be allocated to the agents, is optimal. By using a contest, the...

In Europe, more than 250,0 0 0 university students spend one or two semesters abroad every year. This study explores whether a short time abroad contributes to the acquisition of foreign language proficiency. We use a newly available dataset about almost the totality of Italian graduates and two alternative in- struments to address the endogeneity of studying abroad. Both instruments...

Theoretically speaking knowledge sharing seems relevant for innovations in general. Yet, there is no adequate understanding of how knowledge sharing can develop green innovation in SMEs. This paper focuses on how internal and external knowledge sharing intercede green innovation and ponders on how it affects the organization performance. First, the empirical results show that all...

L’objectif principal de cet article est d’explorer l’impact de la flexibilité financière sur la relation entre la volatilité des cash-flows et la valeur des firmes à partir d’un échantillon de 163 entreprises non financières françaises appartenant à l’indice CAC ALL-Tradable durant la période 2002-2012. Nos résultats révèlent que face à une volatilité accrue des cash-flows, la...

Les effets de la gouvernance sur la performance financière des entreprises font l’objet d’une littérature abondante avec des résultats mitigés, mais les impacts relatifs des différents mécanismes de gouvernance sur la volatilité de la rentabilité financière des entreprises semblent avoir été très peu explorés. Le présent article a donc pour objet d’investiguer le lien postulé par les...

This paper suggests a tentative conceptual framework to study the internationalization of foreign/OECD-based SMEs (Small and Medium-sized Enterprises) attracted by fast growing emerging markets, such as China and other Asian economies, and the supportive role of global cities as market gate focal points providing a wide range of financial and non-financial services facilitating...