Search results

The purpose of this study is to estimate the housing wealth effect on non-durable consumption using data from the Spanish Survey of Household Finances (Encuesta Financiera de las Familias, SHF) for the period 2002–2017.

The authors aim at identifying the effect of anticipated and unanticipated housing wealth changes on consumption with the sample of homeowners, following Paiella and Pistaferri (2017).

Results of this study lead us to conclude that there exists a strong housing wealth effect on consumption for the Spanish households.

The authors provide evidence against the permanent income model. They also analyse how the results change with income expectations, age and the household indebtedness rate. Finally, they detect a strong excess sensitivity to income.

This article conceptualises how the economic well-being of an entrepreneurial household affects its members' mental accounting process to establish its affordable loss for a plunge decision.

The article used research literature to analyze the resources available for entrepreneurial endeavours against a household's ability to maintain acceptable minimum material living standards, juxtaposing income and wealth against competing consumption and investment opportunities.

Mentally accounting for whether household resources can meet minimum material living standards is central to entrepreneurs' ability to raise affordable loss and decide to invest in a new venture. The article proposes that entrepreneurial households establish affordable loss by availing their money exceeding that required to maintain acceptable minimum material living standards. In low-income households, the author assumes that members are not employed and can thus avail their time (versus money) towards affordable loss.

Economic well-being introduces mental accounts of income and wealth and a hedonic reference outcome in the material living standards of households required to meet basic needs. The article introduces the tension entrepreneurial households face between using their income and wealth towards investing in a new business and maintaining their material living standards. It introduces the idea that a loss can be “affordable” according to an entrepreneurial household's ability to remain above its acceptable minimum material living standard. This view prompts scholars to consider a household unit of analysis and avoid assuming an entrepreneur makes the plunge decision in isolation.

This paper aims to assess and empirically analyze the impact of marine production manufacturing on gross domestic product (GDP) indicators as a comparative study in Gulf Cooperation Council (GCC) countries.

This study used analytical quantitative approaches to assess the impact of marine production manufacturing on GDP between GCC countries over the period from 2007 to 2015. The data were collected from Global Competitiveness Reports during 2006-2016 and from Food and Agriculture Organization of the United Nations, FAO 2015 reports.

The results show that Saudi Arabia country has the highest production of marine while Bahrain country is the lowest in GCC. The results of ordinary least squares test show that marine production has a statistical significance on GDP indicators as Pearson correlation matrix shows a strong relationship between all variables.

The main conclusion is that GCC countries must adopt a regional strategy to support maritime activities, especially in the light of green environmental fluctuations. Integrated management plans are also needed to protect vital coastal ecosystems while allowing economic growth and ensuring a better quality of life for all coastal populations. Comprehensive and collaborative leadership provides effective long-term management of coastal ecosystems in the GCC. In addition, GCC countries have high competition with each other for their market share in the global export-based marine production manufacturing.

This paper is the first to present most wealthy GCC countries in terms of marine production manufacturing. Marine production manufacturing introduces to create a new competitive market that generates distinctive internal capabilities for survival and growth in international markets.

The socialist political economy with Chinese characteristics reflects the characteristics of ushering into a new era, and the research object thereof shifts to productive forces. Emancipating and developing productive forces and achieving common prosperity become the main theme. Wealth supersedes value as the fundamental category of economic analysis.

The theoretical system of socialist political economy with Chinese characteristics cannot proceed from transcendental theories but is problem-oriented. Leading problems involve development stages and research-level problems.

The economic operation analysis is subject to the goal of optimal allocation of resources with micro-level analysis focused on efficiency and macro-level analysis focused on economic growth and macroeconomic stability also known as economic security. The economic development analysis explores the laws of development and related development concepts in compliance with laws of productive forces. The new development concepts i.e. the innovative coordinated green open and shared development drive the innovation of development theory in political economy.

Accordingly, the political economy cannot study the system only, but also needs to study the problems of economic operation and economic development. Therefore, the theoretical system of the political economy tends to encompass three major parts, namely economic system, economic operation and economic development (including foreign economy). The basic economic system analysis needs to understand the relationship between public ownership and non-public ownership, between distribution according to work and factor payments, and between socialism and market economy from the perspective of coexistence theory, thus transforming institutional advantage into governance advantage.

The purpose of this paper is to analyze the changes in wealth and consumption inequality in Spain and estimate the consumption effects of housing and financial wealth.

The estimations are made using micro-data from the Spanish Survey of Household Finances (2002–2014) applying cross-section, panel and interquartile techniques.

The findings of this paper suggest that there was an increase in wealth inequality during the period under analysis and a reduction in consumption inequality. Also, the authors find a significant positive effect of wealth on consumer expenditure. Disaggregating by asset type, the value of the main residence is the category with the highest estimated effect on consumption, whereas the remaining types of assets, although still positive and generally significant, have more modest effects on consumption. However, the estimated coefficients and their significance can change substantially depending on the phase of the economic cycle and the position of the household in the income distribution.

These results provide new empirical evidence on the effects of household wealth changes on their consumption behavior, the differences depending on the household's position in the distribution and the fluctuations of these estimated coefficients throughout a period of profound economic upheavals.

The authors analyse how the receipt of a wealth transfer (inheritance or gift) affects labour force participation in 14 EU countries. They compare the effect of receiving an inheritance or a gift and investigate different behaviours at the gender level and educational level and for elderly individuals.

The authors use data from the Household Finance and Consumption Survey for 14 European countries and adopt an instrumental variable approach. They use information on the type of donor (family and nonfamily) to infer the degree of anticipation of a wealth transfer.

The authors find that unexpected wealth transfers have a negative impact on labour force participation, with a stronger impact for gifts than for inheritances. For gender, they find larger negative impacts for females than for males, which is in line with a weaker attachment to the labour market. Receiving an unexpected wealth transfer may also result in early retirement.

The paper offers a novel comparison of the effect of receiving an inheritance or a gift on labour force participation using a unique European dataset. The authors investigate whether males and females react differently to the receipt of a wealth transfer and the existence of different responses at the educational level and for elderly individuals.

The purpose of this research is to study the impact of divestitures on shareholder wealth. This study covers selloffs of publicly traded companies in Germany, Austria and Switzerland (DACH region) during the period 2002–2018. It aims to understand the overall effect of selloffs on shareholder wealth as well as the impact of important influencing factors.

This study is part of capital market studies which investigate shareholder wealth effects (abnormal returns) using event study methodology. To determine the significance of abnormal returns, a standardized cross-sectional test as suggested by Boehmer et al. (1991) was applied. The sample consists of 393 selloffs of publicly traded companies with a deal value of at least EUR 10m.

The findings confirm the overall positive impact of selloffs on shareholder wealth. The average abnormal return on the announcement day of the sample companies amounts to 1.33%. The type of buyer, the relative size of the transaction as well as the financial situation of the seller in particular seem to influence abnormal returns positively.

This study investigates shareholder wealth creation through selloffs in the DACH region, a largely neglected region in divestiture research, but now very relevant due to increasing pressure of active foreign investors. Sophisticated statistical methods were used to generate robust findings, which are in line with the results of similar studies for the US and the UK.

This paper aims to focus on the use of unexplained wealth orders (UWOs) in South Africa as a civil method to act upon lifestyle audit results that have indicated wealth from unknown, possibly unlawful, sources.

This paper applied a comparative methodology. Legislation and the application of UWOs in Ireland, the UK and Australia were compared with the situation in South Africa.

It is proposed that South Africa includes UWO legislation within its Prevention of Organised Crime Act or be established as a separate piece of legislation. Also, South Africa should follow both the civil and criminal route to target the proceeds of crime.

Corruption in South Africa is rampant and, without the necessary legislation, impossible to fight. For these purposes, this paper proposes measures to be used from a civil forfeiture perspective.

This article seeks to identify the mediating role of marketing resources and capabilities in small and medium enterprises (SMEs)‐poverty alleviation relationship. A qualitative approach of conceptualization of the interconnectedness of the major variables of the study is undertaken. Despite several development programs of SMEs and poverty alleviation, the poverty level of Nigerian SMEs has dragged with incidence of high SMEs failure. Marketing resources and capabilities are suggested as probable missing links between SMEs and profitable exchanges that lead to wealth creation, thus alleviating and eradicating poverty. While empirical study in this direction is vital, the current conceptual model shows that SMEs operators would help in the elimination of poverty by acquisition of necessary marketing knowledge, skills, and capabilities to identify the customersʼ needs, establish vital relationships with them through requisite ego drive, empathy, and capability to change, and thus keep them sold. Prior research concerning SMEs and poverty alleviation in Nigeria has been limited to finance. The findings of the present research have implications for the role of marketing as the ultimate source of profitable growth through exchanges and wealth creation that will help in eradicating poverty.

While considerable attention has been devoted to the personality traits of entrepreneurs, less attention has been given to their values, especially outside of a Western context. Values are instrumental in the decision to pursue entrepreneurship, and have implications for the entrepreneurʼs approach to creating and managing the venture. The role of values would seem especially relevant in the context of ethnic subcultures. Values traditionally associated with entrepreneurship, such as risk, individualism, competitiveness, wealth generation, and growth, may be more consistent with Western cultures, and may conflict with closely held values within various ethnic subcultures the world over. This article examines the values of entrepreneurs in two ethnic subcultures within South Africa. Findings are reported from interviews with cross-sectional samples of black and colored entrepreneurs. The results indicate entrepreneurs tend to embrace common values regardless of their individual ethnic heritage, but with different underlying patterns. In addition, the entrepreneurial path itself gives rise to certain shared values; and the overarching country culture has a strong influence on value orientations. Implications are drawn from the results, and suggestions made for ongoing research