infonet-economy

This paper provides new empirical evidence for the effect of corporate social responsibility (CSR) on corporate financial performance. In contrast to former studies, we examine two different regions, namely the USA and Europe. Our econometric analysis shows that envi-ronmental and social activities of a firm compared with other firms within the industry are valued by financial…

This paper provides further evidence on the recent increase in international consumption risk sharing. We show that this increase is more pronounced among EU and EMU countries than among non-E(M)U industrialised countries. We also show that the patterns of international but intra-European risk
sharing have started to diverge from what is found at the level of the OECD as a…

Legitimacy can be understood as the social acceptance of actions or institutions and is a vital resource for the sustained survival of companies in competitive environments. Legitimacy is subjectively perceived and ascribed to institutions and activities in processes of social construction. In recent times organizational legitimacy has been maintained primarily by either adapting to…

Recent studies of the demand for sports clearly indicate that stars play an important role in promoting fan interest. However, on theoretical grounds it is controversial if a star’s talent superiority and/or a star’s popularity drive match attendance and hence
increase gate revenues. Using longitudinal match attendance data of all clubs in the first German soccer league in a 9-…

Revolutionary developments in economics are rare. The conservative bias of the field and its enshrined knowledge make it difficult to introduce new ideas not in line with received theory. Happiness research, however, has the potential to change economics substantially. Its findings, which are gradually being taken into account in standard economics, can be considered revolutionary in…

People spend a lot of time commuting and often find it a burden. According to economics, the burden of commuting is chosen when compensated either on the labor or on the housing market so that individuals’ utility is equalized. However, in a direct test of this strong notion of equilibrium, we find that people with longer commuting time report systematically lower subjective well-…

Based on the competing theories of superstar formation proposed by Rosen (1981) and Adler (1985) it is controversial if first hand observable talent or other factors like past consumption and popularity influence stardom. This article investigates the emergence of superstars in German soccer. We use data on market values and individual player performance and publicity data to…

To monitor the environment for social threat humans must build affective evaluations of others. These evaluations are malleable and to a high degree shaped by responses engendered by specific social encounters. The precise neuronal mechanism by which these evaluations are constructed is poorly understood. We tested a hypothesis that conjoint activity in amygdala and fusiform gyrus…