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Using primary survey data from an urban area in Global North, this study aims to examine the impact of sociodemographic factors on perception of usefulness of public transport and the importance of safety in preferring private modes of transport over public.

The study uses stratified random sampling technique to collect data on travel behavior and socioeconomic characteristics. Descriptive statistics complemented with bivariate probit model and seemingly unrelated bivariate probit model is implemented on the data obtained.

The study finds that women, unmarried individuals, the youngest age group, least educated individuals and those who are working are expected to finding public transport more useful as compared to their respective counterparts. Despite finding the mode most useful, women are more likely to find it unsafe to travel.

The study calls attention to not only dealing with the infrastructural changes in system but also with those attached insecurities which limit its use.

To the best of our knowledge, this is the first time a comprehensive evaluation of the demands and challenges for transportation services faced by different segments of the society is carried out in this section of the developing world.

This study aims to answer if inter-state migrants in India play a more active role than their intra-state counterparts in labor force participation and entrepreneurship.

A recursive bivariate probit model is used with an instrumental variable (IV) of the total of inter-state migrants in a city over their historical numbers to tackle the endogeneity issue of the migration decision of the migrants.

Inter-state migrants did a better job than their intra-state counterparts in labor force participation and female inter-state migrants did a better job than their counterparts in wage employment and being day laborers.

The data are from IPUMS and there is no updated nationwide data regrading migration and employment for recent years.

A randomized controlled trail can be carried out near the borders of two states where there are both significant amounts of inter-state and intra-state migrants.

The government and international organizations shall focus on cultivating the skills of the female migrants as well as encouraging the entrepreneurship of both types of migrants.

The study focus is on the comparison between intra- and inter-state migrants based on nationwide survey data and the usage of recursive bivariate model and an effective Instrumental Variable.

The intensity of carbon emissions has led to the serious problem of global warming, and the consequences in terms of climatic disasters are gaining increasing attention worldwide. As the energy sector is responsible for most global emissions, developing clean energy is crucial to combat climate change. This study aims to examine the relationship between corporate governance and renewable energy (RE) consumption and explore the interaction between RE production and RE use.

The study adopts an econometric framework of a panel model, followed by the robustness check using alternative methods, including logit regressions. The bivariate probit model is used to analyze the interaction between the decision to use and the decision to produce RE. The analysis is based on a sample of 3,896 firms covering 45 countries worldwide.

The results reveal that appropriate governance mechanisms positively impact RE consumption. These include the existence of a sustainability committee; environmental, social and governance-based compensation policy; financial performance-based compensation; sustainability external audit; transparency; board gender diversity; and board independence. Firms with appropriate governance mechanisms are more likely to produce and use RE than others. Finally, while RE use positively impacts firm value and environmental performance, the authors find no significant effect on current profitability.

This study goes beyond previous research by exploring the impact of multiple governance mechanisms. To the best of the authors’ knowledge, this is also the first study examining the relationship between RE use and firm value. Overall, the findings suggest that RE transition requires, first of all, establishing appropriate governance mechanisms within companies.

In marketing, most research on intention–behavior consistency (IBC) is dedicated to improving the predictive ability of stated intentions for future behaviors, with relatively less exploration into the precursors of IBC, especially those linked to regular durable goods void of ethical consumption characteristics. This study aims to focus on the antecedents of IBC for such products, specifically examining category-level and product-level IBC in light of consumer knowledge.

The authors conducted a two-round survey to collect 3,560 Chinese consumers' vehicle purchase intentions and behaviors. The authors have also leveraged a large vehicle database (containing detailed vehicle attribute information) to measure consumer product knowledge (i.e. product judgment accuracy). A trivariate probit model was proposed to account for the potential selection bias arising from sample attrition while examining the effects of consumer knowledge on category- and product-level intention-behavior consistency.

Findings reveal that 47% of the participants displayed category-level IBC, and within this group, a further 39% exhibited product-level IBC. Notably, product knowledge, manifested as accurate product judgment, correlates negatively with category-level IBC but positively with product-level IBC. Intriguingly, the negative association between inaccurate judgment and product-level IBC is less pronounced for consumers overestimating the target product than for those underestimating it. Furthermore, consumers with direct experience are less prone to show category-level IBC, but are more inclined to display product-level IBC.

Vehicle marketers should prioritize consumers who show interest in their products but possess inaccurate knowledge, to retain whom companies can nurture their product knowledge. As for consumers with accurate knowledge, companies should try to expedite their purchase. Vehicle marketers also need to devise suitable advertising strategies to prevent consumers from undervaluing their products. For those overestimating competitors' products, companies can provide information to correct their overestimation and draw attention to possible confirmation biases. Vehicle marketers should encourage potential buyers who have shown interest in their product to participate in test-drive events, exhibitions, and other direct experience opportunities. Yet, for consumers still in the “whether-to-buy” decision-making phase, companies should not rush them into a test drive.

In the policy-making realm, governmental administrators can implement extensive consumer education programs, with a focus on the importance of product knowledge. This may involve providing consumers with accurate information and buying guides through various channels, which can help consumers make informed purchase decisions. Moreover, to foster healthy competition among vehicle companies, governmental administrators can establish regulations that require vehicle companies and other relevant industries to provide accurate and transparent product information, including performance, safety, and environmental aspects. Finally, in order to protect consumer rights, governmental administrators can also strengthen regulations to ensure fair treatment and safeguards for consumers throughout the purchasing process. This includes cracking down on false advertising and fraudulent practices, maintaining market order, and enhancing consumer confidence and purchase consistency.

This study is among the first attempts to examine the relationship between consumer knowledge and intention-behavior consistency, especially for regular durable products void of ethical consumption characteristics. Responding to the call of previous literature (e.g. Morwitz, 1997), the authors distinguish between and examine two forms of intention-behavior consistency simultaneously (using a sample selection model) and obtain more reliable conclusions. Moreover, the study's large-scale two-round survey had obtained individual-level purchase behavioral outcomes, which allowed the authors to measure each consumer's IBC at both category and product levels. More importantly, the authors show the opposite effects of consumer knowledge on the two forms of intention-behavior consistency.

Although scholars in strategic management have identified innovating and exit as firms’ two sequential strategic responses to long-run crisis, the potential interdependency has yet remained implicit. Specifically, in the context of Chinese Privately Owned Enterprises (POEs), this study investigates the interrelationship of these two strategic responses during long-run crisis. Building on resource redeployment perspective, the authors propose that firms tend to simultaneously leverage innovating and exit responses.

The authors use the data from the 2010 Chinese POEs survey to verify how firms in the long-term crisis made strategic responses after the 2008 financial crisis. Besides, the authors utilize Probit regressions as the basic analysis and further employ bivariate Probit regressions to conduct robustness tests.

This study provides empirical evidence confirming that firms in the long-run period of the crisis tend to adopt both exit and innovating strategies at the same time, that is, the strategy of resource redeployment. Moreover, this study further finds that government subsidies, the degree of marketization and firm’s organizational capability could all accentuate the decision-making of firms’ resource redeployment.

The authors thus contribute to the study of strategic responses to crisis in strategic management by dynamically find out the interdependency of two responses and enrich the research on resource redeployment perspective by identifying three influential positive antecedents, adding to the ongoing investigation on positive drivers of resource redeployment.

The literature stresses the importance of collaboration patterns and the role of public funding in regional competitiveness. This study aims to contribute to a better understanding of this subject by focusing on two key dynamics of technological cooperation. First, the authors focus on the ability of public funding to support regional technological demand through the promotion of science and technology-based innovation (STI) and innovation based on learning-by-doing, learning-by-using, learning-by-interacting (DUI) cooperation. Second, the authors investigate whether such cooperation patterns influence the companies’ ability to support the development of novel products through the effective transfer of knowledge.

The data used in this longitudinal study are taken from the Basque statistics agency’s (EUSTAT) technological innovation survey, which compiles activities, personnel, funding sources, support institutions and other innovation-related aspects of businesses in the Basque region. The survey was carried out following the methodology of the community innovation survey (CIS). CIS data are used to generate official innovation statistics for the EU and its member countries and have been used extensively for analysis in economics. The sample included an unbalanced panel of 17,431 companies that reported research and development expenditure for the period 2013‐2017.

The results of the analysis confirm that the relationship between STI cooperation and regional funding is positive (Piñeiro-Antelo and Lois-González, 2019), but regional DUI cooperation will have a greater impact than STI cooperation on a company’s ability to generate novel products. The authors can, therefore, say that public funding is successful at supporting cooperation between science and technology agents and firms but fails to promote the transfer of knowledge and subsequent development of novel products in companies in the region.

Following a quadruple helix approach, it is important to underline the need for public policies to strengthen the connections between all the key agents in the ecosystem (where the research community, industry, public sector and citizens are all active actors), promoting technology transfer and dissemination, as well as trust among the parties, absorptive capacity and business access to resources and financing. Thus, the design of public policies should be oriented to support a firm’s innovation, balancing the exploration and exploitation of STI and DUI regional cooperation.

The contribution of this research is threefold. First, it serves to emphasize the importance of the impact of regional innovation systems on business innovation modes and their performance. Second, it takes the study of innovation systems and their impact on companies a step further by examining the impact of public funding on the companies’ ability to explore and exploit regional innovation modes. Thirdly, the authors offer a dynamic view of the region’s ability to support its own demand for technology and study the impact of regional business modes on the firms’ ability to support novel products.

Federally subsidized crop insurance aims to mitigate farm risks of crop producers. A body of literature has examined informational problems under this program. However, few studies empirically link crop insurance participation with farm financial performance. Most use county-level aggregates to argue that crop insurance participation is associated with increased farm financial debt. Using farm-level data, this study provides empirical evidence of crop insurance's effects on farm financial risk.

The impact of crop insurance on farm financial risks is assessed using farm-level data from Kansas. The sample consists of at least 1,600 farms each year from 2002 to 2015. Financial risks are measured using the probability of falling into the critical zone of five different financial ratios. The study uses two matching estimators to estimate the causal effects of crop insurance participation on farm financial risks. Several alternative empirical approaches account for unobserved heterogeneity and potential endogeneity.

Crop insurance participation has reduced the farm's likelihood of being in the critical liquidity risk by 8%. This result is robust across matching estimators and alternative specifications to account for unobserved heterogeneity and potential endogeneity.

This is one of the few studies to examine whether crop insurance reduces farm financial risks. This study provides empirical evidence of the extent to which crop insurance enrollment impacts farm financial risks. Findings suggest that crop insurance is critical to maintaining the financial well-being of crop producers, and significantly reduces the likelihood of producers being in a critical liquidity risk.

This study aims to examine the relationship between corporate environmental responsibility (CER) practices and different types of innovation carried out by small- and medium-sized enterprises (SMEs) in Vietnam.

The authors employ the bivariate probit model and the two-stage least squares regression model to estimate the effects of CER on process innovation and product innovation of SMEs.

The findings show that while CER is not significantly related to product innovation, it has a positive and significant effect on process innovation. Further analysis indicates that CER engagement increases labor productivity and financial performance of SMEs.

Corporate managers should view implementation of environmental responsibility practices as a strategy to foster process innovation and boost labor productivity and financial performance. For policy makers, government support for firms proactively engaging in CER practices could encourage firms to pursue innovative activities, which are vital to their long-term success as well as to the society's prosperity.

This study makes several important contributions. First, the authors provide new empirical evidence regarding the different effects of engaging in environmentally friendly practices on firm innovation in an under-examined emerging market setting. Second, the authors enrich our understanding of potential benefits of CER implementation. Third, the findings suggest that firm innovation may play a mediating role in the CER–firm performance association.

This paper aims to examine the interrelation between two innovating strategies (product and process) on total factor productivity (TFP) growth and the dynamic linkages between these strategies, for Colombia. The authors first explore whether ex ante more productive firms are those that introduce innovations (the self-selection hypothesis) and if the introduction of innovations boosts TFP growth (the returns-to-innovation hypothesis). Second, the authors study the firm’s joint dynamic decision to implement process and/or product innovations. The authors use Colombian manufacturing data from the Annual Manufacturing and the Technological Development and Innovation Surveys.

This study uses a four-stage procedure. First, the authors estimate TFP using a modified version of Olley and Pakes (1996) and Levinsohn and Petrin (2003), proposed by De Loecker (2010), that implements an endogenous Markov process where past firm innovations are endogenized. This TFP would be estimated by GMM, Wooldridge (2009). Second, the authors use multivariate discrete choice models to test the self-selection hypothesis. Third, the authors explore, using multi-value treatment evaluation techniques, the life span of the impact of innovations on productivity growth (returns to innovation hypothesis). Fourth, the authors analyse the joint likelihood of implementing process and product innovations using dynamic panel data bivariate probit models.

The investigation reveals that the self-selection effect is notably more pronounced in the adoption of process innovations only, as opposed to the adoption of product innovations only or the simultaneous adoption of both process and product innovations. Moreover, our results uncover distinct temporal patterns concerning innovation returns. Specifically, process innovations yield immediate benefits, whereas implementing both product innovations only and jointly process and product innovations exhibit significant, albeit delayed, advantages. Finally, the analysis confirms the existence of dynamic interconnections between the adoption of process and product innovations.

The contribution of this work to the literature is manifold. First, the authors thoroughly investigate the relationship between the implementation of process and product innovations and productivity for Colombian manufacturing explicitly recognising that firms’ decisions of adopting product and process innovations are very likely interrelated. Therefore, the authors start exploring the self-selection and the returns to innovation hypotheses accounting for the fact that firms might implement process innovations only, product innovations only and both process and product innovations. In the analysis of the returns of innovation, the fact that firms may choose among a menu of three innovation strategies implies the use of evaluation methods for multi-value treatments. Second, the authors study the dynamic inter-linkages between the decisions to implement process and/or product innovations, that remains under studied, at least for emerging economies. Third, the estimation of TFP is performed using an endogenous Markov process, where past firms’ innovations are endogenized.

Both issuing firms and underwriters shall benefit from the associations in underwriting contracts for seasoned equity offerings (SEOs). Issuing firms that are offered underwriting contracts with clustered gross spreads do not have strong incentives to switch away from the firms' prior SEO underwriters, and thus these existing underwriters are able to maintain or gain greater market share. This study investigates how the clustering of percentage gross spreads affects the likelihood of underwriter switching.

Using the investment bank-underwritten SEOs in Hong Kong, the authors find that the percentage gross spreads of 40% of these SEOs are clustered at 2.5%. The seemingly unrelated bivariate probit model, Weibull survival mixed model and trivariate probit model are applied to analyse this phenomenon.

The authors' study provides first direct evidence that the clustering of percentage gross spreads lowers the likelihood of underwriter switching. Investment banks as underwriters can explicitly price underwriting contracts at a clustered level, more likely in periods of greater market volatility, and intentionally retain the banks' client firms using pricing arrangements. The authors' finding and approach offer more direct and distinct support that the issuer–underwriter association can be relationship-based.

Whilst the clustering of fees is interpreted as a type of anticompetitive price sitting, the authors contribute to literature by providing new empirical evidence on why percentage gross spreads as a price dimension are clustered. On top of contract efficiency and collusion, this study's new evidence provides a third view for the clustering of gross spreads.