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1 – 10 of over 15000
Article
Publication date: 6 May 2014

Mak Arvin and Byron Lew

Empirical evidence on the relation between happiness (life satisfaction) and corruption is barely perceptible in the literature. The purpose of this paper is to contribute to…

1712

Abstract

Purpose

Empirical evidence on the relation between happiness (life satisfaction) and corruption is barely perceptible in the literature. The purpose of this paper is to contribute to closing this gap by presenting some estimates using a large cross-section of countries over the period 1996-2010.

Design/methodology/approach

The empirical model allows both corruption and per capita income to enter as arguments of a happiness “production function”. The correlation between happiness and corruption is presumed to be non-linear.

Findings

While the results do not support the existence of a Kuznets-type trajectory, the study finds that the level of per capita income determines whether happiness and corruption are related and in what way. The authors estimate cutoff income levels at which corruption has a discernible effect on happiness. The results show that corruption reduces happiness, but only for high-income countries – roughly the upper half of the income range in the sample.

Practical implications

Results nullify the oft-asserted statement that happiness is negatively linked to corruption in all countries. The nature of correlation is more complex.

Originality/value

The paper goes beyond simply testing whether happiness is related to corruption. It conjectures that the relationship between the two variables is non-monotonic. Thus, the analysis considers the notion that the association between happiness and probity is income dependent. A novel feature of the empirical model is that the estimated income cutoff levels are endogenously determined. That is, income thresholds are not pre-determined. The authors also test for the robustness of the results by addressing the issue of potential endogeneity of corruption.

Details

Journal of Economic Studies, vol. 41 no. 3
Type: Research Article
ISSN: 0144-3585

Keywords

Open Access
Article
Publication date: 21 December 2020

Thu-Ha Thi An and Kuo-Chun Yeh

The purpose of this study is to examine the effect of foreign direct investment (FDI) on economic growth contingent on the development level of the local financial system in…

3936

Abstract

Purpose

The purpose of this study is to examine the effect of foreign direct investment (FDI) on economic growth contingent on the development level of the local financial system in emerging and developing Asia during the period 1996–2017.

Design/methodology/approach

The study adopts the threshold approach, namely the panel smooth transition regression (PSTR) model, for the annual data collection of 18 emerging and developing Asian countries in 22 years. The authors analyze the alternative PSTR models on different proxies of financial development (FD).

Findings

The results show new findings of two distinct thresholds of FD in the FDI–growth nexus. The growth-enhancing effect of FDI is realized only when the FD lies between the two threshold values. Notably, at very high levels of FD, the beneficial effect of FDI on growth is vanishing.

Originality/value

The authors provide new insights into the growth effect of FDI and the role of FD. The estimated nonlinear effect of FDI on growth and the thresholds of FD can be benchmarks for emerging and developing Asia in assessment of their situations. The results suggest important implications to the region in setting the long-run policies to boost the effect of FDI on economic growth.

Details

Journal of Economics and Development, vol. 23 no. 2
Type: Research Article
ISSN: 1859-0020

Keywords

Article
Publication date: 25 January 2011

Xianbo Zhou and Fengping Tian

The purpose of this paper is to present a nonparametric comparative study on the HCMS consumption of urban and rural households in China.

2071

Abstract

Purpose

The purpose of this paper is to present a nonparametric comparative study on the HCMS consumption of urban and rural households in China.

Design/methodology/approach

This paper applies the panel data for China's thirty provinces in 1991‐2007 as a sample and presents a local linear estimation to the nonparametric Working‐Leser panel data models on the HCMS consumption of the rural and urban households in China. The nonparametric Hausman test is applied to test the random effects specification against the fixed effects.

Findings

Both the parametric and nonparametric estimation of the Working‐Leser panel data models give us a similar result: that the HCMS commodity is quite elastic in both the rural and urban China. Nonparametric estimate also shows that the urban‐rural difference of the HCMS expenditure share in the total expenditure is mainly due to the large urban‐rural difference of total expenditure. Under the same total expenditure, the HCMS is more elastic in the urban than in the rural regions.

Practical implications

To decrease the urban‐rural difference in the HCMS consumption, the government should enhance the income or total expenditure level of the rural households, especially in the impoverished and remote areas in China. Urbanization plays a critical role in access to health care and can help make substantial changes in rural health care in China.

Originality/value

Compared to the parametric estimation, the nonparametric estimation gives us the added information that the expenditure elasticity of the HCMS consumption in China gradually declines as one moves up the per capita total expenditure distribution. The paper could make a contribution to the relatively thin literature on the Chinese medical and health consumption market.

Details

Journal of Economic Studies, vol. 38 no. 1
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 12 March 2018

Gustavo Ferro and Ignacio Benito Amaro

Given the growing supply of wines and the large number of new consumers with purchasing power but lacking knowledge of the subtleties of high-quality wines, expert opinions are…

Abstract

Purpose

Given the growing supply of wines and the large number of new consumers with purchasing power but lacking knowledge of the subtleties of high-quality wines, expert opinions are used for consumers as proxies for quality. This study aims to determine the determinants of prices in top-quality wine market. The authors also seek to estimate the role for country of origin, grape, producing region and winery in prices. And, finally, the authors try to show how countries, regions and wineries can help increase their position in international rankings.

Design/methodology/approach

The authors try to answer: What factors explain the price of top-quality wines (defined as best rated in a standardized ranking)? To some extent, in the hands of producers influence prices, which imply long-term decisions or large investments in land and marketing. Other variables that consumer value does affect prices. The authors try also to detect undervalued or overvalued wines, grapes, regions, wineries or producer countries. The authors estimate an econometric model of hedonic prices using a 14-year sample of the Wine Spectator’s 100 top-rated wines for the American market between 2003 and 2016, totaling 1,400 observations. The sample is a great cross-section because each wine is unique.

Findings

The authors’ contribution is twofold: the determination of the price explanatory values and the identification and attribution of price differences by country, grape, region and winery. Also, the authors detected grapes, countries, regions and wineries which are overvalued or undervalued with respect to the average prediction of the model.

Research limitations/implications

The findings are useful to understand the role of price explanatory variables, as well as for making policy and managerial decisions. From the model, collective or managerial actions can be derived to increase particular wines’ positions in international rankings. The proxy for “quality” in the study is not the only possible definition.

Practical implications

In some cases, managerial choices could be conditioned by the policies or history. There is some room for collective action and public policies to improve regions’ and countries’ reputation.

Social implications

There are clear synergies for policies that can raise the prestige of countries and regions and their spillovers on the brand name reputation of individual wineries.

Originality/value

The results, policy and managerial implications are of interest for business, countries interested in improving their position in international rankings and for consumers to make more informed decisions.

Details

International Journal of Wine Business Research, vol. 30 no. 1
Type: Research Article
ISSN: 1751-1062

Keywords

Open Access
Article
Publication date: 12 September 2023

Jean-Alain Heraud, Phu Nguyen-Van and Thi Kim Cuong Pham

This paper analyzes individual subjective well-being using a survey database from the Strasbourg metropolitan development council (France). The authors focus on the effects of…

Abstract

Purpose

This paper analyzes individual subjective well-being using a survey database from the Strasbourg metropolitan development council (France). The authors focus on the effects of externalities generated by public services (transport, culture and sport), environmental quality and feeling of security in the Strasbourg metropolitan area (Eurométropole de Strasbourg, EMS). Results show that EMS specificities (public facilities, environmental quality, safety and security) and individual features like opportunities to laugh or live with children significantly influence individual well-being. These findings are robust when using three subjective measures: feeling of well-being, environmental satisfaction and social life satisfaction. The authors also show that income may affect the perceived well-being of individuals belonging to a low-income group, while individuals belonging to a high-income group tend to be unsatisfied with environmental quality but satisfied with their social life. Besides, social comparison in terms of income does not matter for individual well-being in the Strasbourg metropolitan area.

Design/methodology/approach

Theoretical and empirical paper —Utility theory in economics—Econometric modeling using an ordered probit model.

Findings

Specificities of the Strasbourg metropolitan area-France (public services related to transport, culture and sport, environmental quality perceived as convenient for individual health, sense of security) significantly impact individual subjective well-being. Income does not substantially impact the individual subjective perception of happiness: income may matter for the feeling of well-being only for individuals belonging to a low-income group. Wealthy individuals tend to be unsatisfied with environmental quality but satisfied with their social life. Social comparison in terms of income does not matter for individual well-being in the Strasbourg metropolitan area.

Research limitations/implications

Cross-sectional data, but it is the only available database from a survey conducted by EMS in 2017 to collect information on potential elements relative to individual well-being in the Strasbourg metropolitan area.

Practical implications

Results shed light on the role of territorial policies in improving individual well-being and might provide some guidelines for policy-makers concerned about the population’s welfare. Policy-makers should give strong attention to public facilities (an essential element of local public action) and improve environmental quality. If they care about the population’s happiness, they have to reorient current policies in this direction. Of course, through the inquiry in 2017 giving this database, the Strasbourg agglomeration development council aimed to provide such evidence to the local administration. Nevertheless, the results were a bit upsetting for many people in the administrative and political circles, who generally prioritize economic and demographic development, while the citizens’ responses to the inquiry have revealed a strong focus on the quality of everyday life in their neighborhood.

Originality/value

The present study contributes to the literature on subjective well-being, with a focus on the role of local characteristics and living environment. The authors’ starting point is related to the standard utility theory, indicating that environmental quality and public services are positive externalities. The authors investigate whether the local living environment and public facilities are crucial elements explaining individual well-being. To do this, we consider three subjective measures: feeling of well-being, environmental satisfaction and social life satisfaction, which are used as proxies of individual utility. The authors consider different explicative variables representing specificities of EMS in terms of public services (transport, culture and sport), environmental quality perceived as convenient for individual health, safety and security, etc. The authors also provide a test for relative standing by including the median monthly household income at the municipality level.

Details

Fulbright Review of Economics and Policy, vol. 3 no. 2
Type: Research Article
ISSN: 2635-0173

Keywords

Article
Publication date: 2 February 2021

Jianhua Zhang and Mohammad Shahidul Islam

The primary purpose of the study is to examine the role of market power in driving innovation and productivity of intangible intensive firms of eight emerging economies of the…

Abstract

Purpose

The primary purpose of the study is to examine the role of market power in driving innovation and productivity of intangible intensive firms of eight emerging economies of the Association of Southeast Asian Nations (ASEAN-8).

Design/methodology/approach

There is hardly any study on emerging economies that explored the causal chain of R&D–innovation–productivity, considering the role of market power in a structural model. Taking advantage of the availability of firm-level data and following the extended version of the Crépon, Duguet and Mairesse (CDM) model, we intend to fill the gap. The CDM model first explores the link between R&D and innovation, then the latter's impact on productivity. Besides, it captures sectoral heterogeneity and the differing roles of technological and institutional innovation on productivity.

Findings

The manufacturing firms that held a higher markup had a more significant contribution to driving innovation than services one. While institutional innovation affected productivity positively, technological innovation had the opposite impact. Nevertheless, firms' higher degree of monopoly, in general, worsened productivity outcomes. The estimated results are robust to a range of alterations.

Practical implications

The study offers implications for the competition policy of ASEAN.

Originality/value

The sample of this study accounts for almost half of the world's best-performing emerging economies. Thus, the findings are likely to contribute to the thin literature on market power's role in driving innovation and productivity in the intangible economy of emerging markets.

Details

International Journal of Emerging Markets, vol. 17 no. 8
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 26 January 2010

Jasper Fanning, Thomas Marsh and Kyle Stiegert

Fast food (FF) consumption increased dramatically through the 1990s in the USA, accounting for nearly 35.5 percent of total away‐from‐home expenditures in 1999. Given dramatic…

2861

Abstract

Purpose

Fast food (FF) consumption increased dramatically through the 1990s in the USA, accounting for nearly 35.5 percent of total away‐from‐home expenditures in 1999. Given dramatic changes in food consumption, and heightened public concern about health and obesity, there is a considerable need for research to understand better the factors affecting US FF consumption. This paper aims to fill this gap.

Design/methodology/approach

In this paper, logistic regression is applied to analyze the socioeconomic and demographic factors influencing the likelihood of consuming FF using United States Department of Agriculture data from the Continuing Survey of Food Intakes by Individuals from 1994 to 1996 and the Supplemental Children's Survey of 1998.

Findings

In general, the expected likelihood of FF consumption increases until around 20‐30 years of age and then decreases; increases as household income grows until about $50,000‐60,000 and then decreases; and decreases as household size grows. Further, males from the Midwest and South regions that live outside central cities in Metropolitan Statistical Areas have the highest likelihood of consuming FF.

Originality/value

While much literature has addressed key questions about expenditure on food away from home, this study complements previous work by focusing on food items consumed from FF facilities in the 1990s. In addition, the results find highly significant and important (statistically and economically) interactions between the likelihood of FF consumption and age, income, and household size.

Details

British Food Journal, vol. 112 no. 1
Type: Research Article
ISSN: 0007-070X

Keywords

Open Access
Article
Publication date: 2 March 2023

Xinzhou Qi and Zhong Ning

The purpose of this paper is to investigate the relationship between the characteristics of the incubation industry, government funding, and the intensity of funding for different…

1086

Abstract

Purpose

The purpose of this paper is to investigate the relationship between the characteristics of the incubation industry, government funding, and the intensity of funding for different services. Because the incubation industry has particular characteristics, government funding varies for different services, and its intensity varies with service.

Design/methodology/approach

Government funding is classified as incubation subsidy and incubation incentive. Besides, incubation services include property management, business mentoring as well as investment and financing. Based on this, this study examines the influence mechanism of different subsidy and incentive on incubation services by using the generalized propensity score matching method.

Findings

The empirical results show that subsidy and incentive have an inverse-U shape effect on property management service, but a linear effect on business guidance service. Furthermore, subsidy does not affect investment and financing service, but incentive that can have a significant impact.

Originality/value

The theme of government funding and incubator services plays an important role in helping entrepreneurs expand their businesses. Incubation subsidy and incentive can provide important support to help enterprises obtain more preferential loans, technical services and technical support in the incubator. Applying it to incubator services can provide better technology and entrepreneurship guidance. These services can help new entrepreneurs understand products and markets, and how to develop more successfully in the early stage. In short, incubators supported by government funds can provide important support to entrepreneurs to help them successfully realize their business plans.

Details

Asia Pacific Journal of Innovation and Entrepreneurship, vol. 17 no. 1
Type: Research Article
ISSN: 2071-1395

Keywords

Article
Publication date: 11 June 2021

Huilan Zhang

There has been little empirical research focused on the effect of lean on hospital performance in the form of a consolidated methodology. This paper aims to apply a more…

Abstract

Purpose

There has been little empirical research focused on the effect of lean on hospital performance in the form of a consolidated methodology. This paper aims to apply a more sophisticated approach to examine whether hospitals’ decision for lean implementation is endogenous and test the effects of lean on hospital performance.

Design/methodology/approach

This study uses a publicly available data set of hospitals across the USA from 2002 to 2019 and performs two-stage least squares (2SLS) analysis. In the first stage, a probit model is used to estimate hospitals’ decision to implement lean. The fitted probability values from the first stage are used in the second stage to test the relationship between lean and hospital performance. Ordinary least squares (OLS) regression results are compared with those of the 2SLS approach.

Findings

The decision to implement lean is significantly associated with hospital-specific characteristics (the complexity of care, size and cost-to-charge ratio), indicating hospitals’ decision for lean implementation is endogenous. Moreover, there is strong evidence that lean implementation is positively associated with hospital financial and operational performance. The Hausman F-tests confirm the presence of endogeneity and this, in turn, suggests that OLS regressions result in unreliable estimates.

Practical implications

The findings of this study can help hospital managers benchmark performance and explore opportunities for profit and efficiency improvement. The findings are also relevant to policymakers who strive to lower health-care spending.

Originality/value

This study is motivated by the challenges facing the health-care industry. This study is among the first to investigate endogeneity in lean implementation and the association between lean and hospital performance using large-scale archival panel data. The use of the 2SLS approach provides more confidence in statistical findings.

Details

Journal of Accounting & Organizational Change, vol. 17 no. 5
Type: Research Article
ISSN: 1832-5912

Keywords

Article
Publication date: 9 May 2018

Debarpita Roy

This paper aims to understand housing demand of urban Indian households in terms of housing and household-level characteristics. Because a house is a bundle of certain…

Abstract

Purpose

This paper aims to understand housing demand of urban Indian households in terms of housing and household-level characteristics. Because a house is a bundle of certain characteristics which vary across houses, each characteristic has an implicit price. Finding this implicit price for certain important characteristics is the first objective of this study. The second objective of the paper is to compute the income elasticity and price elasticity of housing demand for these cities.

Design/methodology/approach

To achieve comparable estimates, household-level data from India’s National Sample Survey Organisation housing surveys for the years 2002 and 2008-2009 have been used. A hedonic price function is estimated using ordinary least squares (OLS) and Box-Cox functional forms to estimate the implicit prices of housing characteristics. This exercise is attempted for owned and rented houses separately. Demand function required for computing the elasticities, uses the hedonic price index derived from the implicit prices and household characteristics.

Findings

The study finds housing demand to be income elastic and price inelastic for the six cities across both the time periods.

Originality/value

Firstly, this study includes housing characteristics such as individual access to drinking water, modern sanitation facility, separate kitchen, condition of the structure, existence of a road with street light and whether the house is in a slum or non-slum area in the hedonic price function. These variables were not used in any of the earlier studies pertaining to India. Secondly, it uses the Box-Cox non-linear form to derive the hedonic price function, a specification not used earlier. Thirdly, this is the first study analysing housing demand across the six largest Indian cities.

Details

International Journal of Housing Markets and Analysis, vol. 13 no. 1
Type: Research Article
ISSN: 1753-8270

Keywords

1 – 10 of over 15000