Search results

With multiple-related organizations, worldwide infections, deep economic recession and public disorder, and large consumption amount of anti-epidemic resources, the coronavirus disease 2019 (COVID-19) has been defined as a public health emergency of international concern (PHEIC). Nowadays, Wuhan has recovered from the pandemic disaster and reentered normalization. The purposes of this study are to (1) summarize organization collaboration patterns, successful experience and latent defects under across-stage evolution of Wuhan's cooperation governance mode against the pandemic, and on the basis, (2) reveal how the COVID-19 development trends and organizations' collaborative behaviors affected each other.

Detailed content analysis of online news reports covering COVID-19 prevention and control measures on the website of Wuhan Municipal Government was adopted to identify organizations and their mutual collaborative interrelationships. Four complex network (CN) models of organization collaboration representing the outbreak, preliminary control, recession and normalization stages, respectively, were established then. Time-span-based dynamic parameter analyses of the proposed networks, comprising network cohesiveness analysis and node centrality analysis, were undertaken to indicate changes of global and local characteristics in networks.

First, the definite collaborative status of Wuhan Headquarters for Pandemic Prevention and Control (WHPPC) has persisted throughout the period. Medical institutions and some other administrations were the most crucial participants collaborating with the WHPPC. Construction-industry organizations altered pandemic development trends twice to make the situation controllable. Media, large-scale enterprises, etc. set about underscoring themselves contributions since the third stage. Grassroots cadres and healthcare force, small and medium-sized enterprises (SMEs), financial institutions, etc. were essential collaborated objects. Second, four evolution mechanisms of organization collaboration responding to the COVID-19 in Wuhan has been proposed.

First, universality of Wuhan-style governance experience may be affected. Second, the stage-dividing process may not be the most appropriate. Then, data source was single and link characteristics were not considered when modeling.

This study may offer beneficial action guidelines to governmental agencies, the society force, media, construction-industry organizations and the market in other countries or regions suffering from COVID-19. Other organizations involved could also learn from the concluded organizations' contributions and four evolution mechanisms to find improvement directions.

This study adds to the current theoretical knowledge body by verifying the feasibility and effectiveness of investigating cooperation governance in public emergencies from the perspectives of analyzing the across-stage organization collaboration CNs.

The study aims to examine the impact of intellectual and social capital in funding businesses.

The study made use of fixed-effects panel data models with a sample of 142 countries from the five continents during the period 1998–2018.

It was found that human capital (HC), relational capital, structural capital and social capital play a role in investors’ decisions to fund a business. The study revealed that investors’ funding decisions in low human development index countries are based mainly on education, while those in high human development index countries are based mainly on the creativity component of HC and on relational, structural and social capital.

The study needs to be replicated using firm-level data within each country. Moreover, the search for new proxies for intellectual and social capital (although the list of variables is exhaustive) both at the country and firm level, constitutes an interesting avenue for future research.

Countries should pay attention to intellectual and social capital to encourage business activity. In particular, low human development countries should strengthen HC, such as the school enrollment rate, with early entrepreneurial training and increase research and development investments, while high human development countries should continue to foster strategic alliances, protect intellectual property and maintain or increase the level of trust in the country.

The study contributes to literature by being the first to explore such a variety of intellectual and social capital variables from a country-level perspective.

El estudio tiene como objetivo examinar el impacto del capital intelectual y social en la financiación de las empresas.

Utilizamos modelos de datos de panel de efectos fijos con una muestra de 142 países de los cinco continentes durante el periodo 1998-2018.

Encontramos que el capital humano (CH), el capital relacional, el capital estructural y el capital social juegan un papel en las decisiones de los inversionistas para financiar un negocio. Encontramos que las decisiones de financiamiento de los inversionistas en los países con bajo índice de desarrollo humano se basan principalmente en la educación, mientras que las de los países con alto índice de desarrollo humano se basan principalmente en el componente de creatividad del CH y en el capital relacional, estructural y social.

Sugerimos replicar el estudio utilizando datos a nivel de empresa dentro de cada país. Por otra parte, la búsqueda de nuevos indicadores de capital intelectual y social (aunque nuestra lista de variables es exhaustiva) tanto a nivel de país como de empresa, constituye una vía interesante para futuras investigaciones.

Los países deben prestar atención al capital intelectual y social para fomentar la actividad empresarial. En particular, los países con bajo desarrollo humano deberían fortalecer el CH, como la tasa de matriculación escolar, con una formación empresarial temprana y aumentar las inversiones en investigación y desarrollo, mientras que los países con un alto nivel de desarrollo humano deberían seguir fomentando las alianzas estratégicas, proteger la propiedad intelectual y mantener o aumentar el nivel de confianza en el país.

El estudio contribuye a la literatura al ser el primero en explorar tal variedad de variables de capital intelectual y social desde una perspectiva a nivel de país.

To provide a systematic analysis of the contrasts, imbalances and suggestions for corrective action in the present globalized economic system and monetary and financial order in the framework of a conference organized by Webster University, Geneva (Switzerland) dealing with the outlook for international order.

The paper is divided into two parts. The first provides an overview of the general characteristics of the globalized economy, of the interdependence of national and international orders and policy making and the issue of investments, technology transfer and global business. The second part contains a more detailed analysis of the international monetary and financial order, including the evolving role of the International Monetary Fund (IMF). While the paper provides a rigorous analysis of the institutional and policy issues, the analysis and the conclusions are accessible also to the non‐specialized reader.

The paper focuses on the inconsistencies and asymmetries in the working of the international economic and monetary order and of the policies of the principal international organizations with respect to different groups of countries, and in particular the advanced, developed countries, on the one hand, and the developing countries, on the other hand. The corrective measures suggested by the author are in the interests of both groups of countries and thus of the system as a whole.

The paper provides suggestions for improvements in the economic and monetary order of a globalised world on the basis of systematic policy analysis, anchored in economic theory, rather than political rhetoric.

The purpose of this study is to know the contribution of service-learning (SL) on the awareness-raising and sensitivity with regards to sustainable development goals (SDGs) in physical education teacher education (PETE) programs.

The research used a qualitative methodology with a case study design from an ethnographic-interpretative approach. The participants were 81 higher education level students from the PETE program. For the collection of information, the following techniques and instruments were used: non-participant observation, students’ portfolios, focus groups and group-interviews.

The main findings show the teaching positive features of SL experiences in the PETE students. In alignment with the sustainable development model, the findings suggest that SL can boost and strengthen knowledge, comprehension, sensitivity and compromise in relation to the SDGs. It can be concluded that SL allows teacher educators to train socially critical professionals and to progress toward a sustainable development.

SL emerges as an appropriate pedagogical model to meet the educational needs of higher education and to face global challenges in relation to the sustainable development of the planet.

This chapter’s goal is to determine the essence and causal connections of the emergence of conflicts at the level of economic systems (countries) due to technological inequality and to find the perspectives of overcoming these conflicts. The chapter models the economic and political conflict of modern time under the conditions of high-tech development based on the methods of variation analysis and regression analysis. It is proven that the scale of technological inequality in the world economy is very large. It is the economic and political conflict of modern time, the essence of which is as follows: the differentiation of economic systems amid digital development predetermines the opportunities for their entering the world markets. This chapter contributes to the development of the theory of economic and political conflicts, proving the existence of technological inequality as a new form of differentiation of economic systems amid digital development and defining this inequality as a new economic and political conflict of modern time. The chapter also contributes to the development of the theory of international trade, disproving – for the first time – the action of the principle of freedom of international trade. The authors describe technological barriers of the world markets, which limit the presence of countries that are behind the leading countries by digital development. Three key factors that determine the level of technological development of the economy are given: knowledge-intensive employment, venture investments and financing of innovations in business. Due to the above, the chapter provides opportunities for technological conflict management.

This research investigated the market conditions caused by IPO advertising by examining the impact of IPO advertising, based on the US stock market from 1986 to 2009. The relationship between advertising intensity in the IPO year and the degree of IPO underpricing was examined. It was found that an increase in advertising intensity around an IPO event increases the initial returns. Simultaneously, however, advertising intensity around an IPO event also increases the degree of overvaluation, which raises the question as to whether advertising serves primarily as a mechanism to convey a firm’s true value to investors. The theoretical valuation of IPO and the relation between IPO advertising and the degree of stock overvaluation are discussed. Based on the Peasnell’s (1982) residual-income valuation framework (henceforth RIV), IPO advertising was proved to cause stock price to be more overvalued in the secondary market: a positive relationship was found between advertising and the degree of stock overvaluation relative to its theoretical value. Accordingly, an alternative hypothesis, that advertising inflates the short-run stock price, was proposed. The results of this study are consistent with the view of Purnanandam and Swaminathan (2004), namely that the stock price of newly listed firms can be overvalued.

This study examines the impact of the trading volume on Initial Public Offering (IPO) initial return in the context of an emerging market from January 2006 to December 2016. Models consist of hierarchical and multiple regressions have been evaluated. Our results show, firstly, IPO provides an average of 21.90% of initial return to investors on the first trading day, 9.08% of return on the second day of trading, and 7.12% of return on the third day of return. Secondly, there is a positive relationship between the oversubscription ratio and initial return and no relationship between trading volume and initial return on the first three trading day. Thirdly, the trading volume does not act as a moderator that worsens the relationship between the oversubscription ratio and initial return. Lastly, this study shows that investors should actively participate in the subsequent trading of an IPO. Higher participation will bring greater liquidity and shareholder wealth in the stock market. To the authors' knowledge, this is the first study on the moderating effect of trading volume on IPO initial return in an emerging market.

Findings in the literature indicate leading financial analysts attract high levels of market attention and provide more accurate earnings forecasts prior to becoming all-star analysts. Furthermore, these analysts significantly impact the investment decisions of other market participants and thus the market price of assets. Therefore, this study examines the information role of leading financial analysts and identifies two significant conclusions. First, the positive outcomes of these analyst leaders are more informative and attract more followers. Second, informational herding by followers of these analysts is not as naïve as suggested in previous studies, as followers who smartly use information from analyst leaders tend to perform better. We also find that analysts who practice smart learning by studying and selectively employing analyst-leader decisions achieve better career outcomes.

U.S. bank holding companies (BHCs) have experienced dynamic changes over a period of 2000–2010. We find that the size distribution of sample banks becomes highly positively skewed with a small number of big banks becoming super-sized, and these big banks tend to take extra risk by holding derivative positions for trading purposes. The ten largest risk-taking banks hold about 70% of total assets of all the sample banks in 2010. We investigate whether the risk-taking activities of the BHCs translate into higher risk-adjusted return performance. In extensive panel regression analyses, we find that the risk-taking strategies of large banks by holding derivative positions for trading purpose do not show the clear evidence of enhancing risk-adjusted performance. We find that negative impacts of extra risk-taking on the risk-adjusted performance become bigger with the size of banks.