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Several theoretical propositions suggest that changes in economic activity can explain the decision to form a cartel. The majority of the propositions claim that cartel formation is more likely in expansionary and less likely in contractionary phases of the business cycle. The propositions are re-examined theoretically and by using data on detected cartels for the European Union. In both cases, the results cannot confirm that more cartels are formed in any of the business cycle phases and that correlated economic growth rates create higher incentives to collude. Furthermore, it cannot be confirmed that more cartels form shortly after respectively the trough or the peak in the business cycle. The conclusion is that cartel formation is unaffected by changes in the business cycle. [ABSTRACT FROM AUTHOR]

The development and implementation of an Imaging Trainee Assistant Program for radiologic technologists is presented.

In today's global economy, clusters have emerged as crucial drivers of regional economic development and competitiveness. This article presents a comprehensive literature review that sheds light on the factors that influence the competitiveness of clusters. Drawing upon a broad range of scholarly sources across various fields, including economics, geography, and management, we synthesize existing research to identify and analyze the key determinants that shape cluster competitiveness. The review highlights the importance of several factors such as industry specialization, knowledge spillovers, innovation networks, infrastructure, and institutional support in enhancing the competitive performance of clusters. Furthermore, the paper critically examines the methodological approaches employed in studying cluster competitiveness, providing valuable insights for policymakers, practitioners, and researchers. By analyzing and evaluating the literature, this paper provides a deeper understanding of the dynamics of cluster competitiveness. Therefore, the research contributes to the growing body of knowledge on this important subject and underscores the significance of clusters in shaping regional economic development and competitiveness. [ABSTRACT FROM AUTHOR]

Exploiting Google's 2010 withdrawal from mainland China, we examine the causal impact of information accessibility on export quality, and find that export quality decreases after Google's exit. The effect is more pronounced for firms and products facing greater information frictions, for firms in regions with local web filters, for firms trading with countries with more online information, and for firms facing fiercer product market competition. The more intensively affected firms also become less productive and their capital intensity declines after Google's exit. Overall, these results suggest that limited information accessibility may impair a country's international competitiveness through deteriorating export quality. [ABSTRACT FROM AUTHOR]

Mexico holds a crucial position as one of the foremost trading partners and economic powerhouses for the United States in Central and Southern America. Given its proximity to the United States and its unwavering alliance from a security standpoint, Mexico plays a pivotal role in US foreign policy endeavors. However, the escalating levels of Chinese investment in the region pose a growing economic threat, endangering the standing of the United States. Consequently, it is imperative for Washington to prioritize efforts aimed at countering any potential economic competition that could prove detrimental in the context of Mexico. [ABSTRACT FROM AUTHOR]

In this paper, we identify product market competition as a driver of privatization. Using product market shocks caused by trade liberalization of China, which has the world's largest state sector, we find that subjecting state-owned enterprises (SOEs) to higher competition leads to an increase in private ownership. This response is strengthened when SOEs operate in industries with large technology or productivity gaps from those in the frontier economies or when SOEs impose large fiscal burdens on local governments. Our findings are consistent with politicians' incentives to boost economic growth for better career development and to shed burdens when rents decrease. This paper was accepted by Tomasz Piskorski, finance. Funding: C. Lin acknowledges financial support from the National Natural Science Foundation of China [Grant 72192841]. Q. Hu acknowledges financial support from the Fundamental Research Funds for the Central Universities and the Renmin University of China [Grant 21XNF002]. W. Li acknowledges financial support from the Major Project of the Ministry of Education [Grant 22JZD007] and the National Natural Science Foundation of China [Grant 72132002]. L. Wei acknowledges financial support from the Research Grants Council, University Grants Committee [Grant 13501619]. Supplemental Material: The data files and online appendix are available at https://doi.org/10.1287/mnsc.2023.4847. [ABSTRACT FROM AUTHOR]

The common ownership of firms can have anticompetitive effects by incentivizing collusive outcomes that maximize joint surpluses of the commonly held firms or procompetitive effects through enhanced knowledge spillovers. Using a difference-in-differences regression methodology that exploits mergers between financial institutions as exogenous shocks to common ownership, our baseline results suggest that higher common ownership leads to greater product market fluidity (a text-based metric of competition) and generally leads to more product development and higher investments. These findings suggest that, on average, common ownership spurs dynamism in product spaces rather than tacit collusion between cross-held competitors. This is especially true in economic environments in which it is easier to take advantage of knowledge spillovers. However, common ownership can also inhibit product market competition and dynamism, especially in industries more prone to quasi-monopoly outcomes in product spaces. Implementing a one-size-fits-all regulatory policy limiting common ownership may be harmful in industries with strong spillover opportunities. This paper was accepted by Victoria Ivashina, finance. Supplemental Material: The online appendix and data are available at https://doi.org/10.1287/mnsc.2023.4830. [ABSTRACT FROM AUTHOR]

This paper investigates the impact of increased competition at the product-market level on firms' strategic price decisions. We analyse this issue in a context of trade liberalization where only some firms benefit from the input tariff cuts. We focus on China which is characterized by a unique dual trade regime, where some imports of intermediate goods are subject to tariff (i.e., the ordinary status) whereas other (i.e., the processing status) have been exempted of tariffs for the last 30 years. The recent Chinese trade liberalization allowed ordinary importers to improve their competitiveness relative to processing firms. Facing stronger pressures in their export markets, processing firms must adjust their strategy. We find that ordinary firms took advantage of the Chinese' input trade liberalization to improve the quality of their exported products and processing firms respond to this quality sorting by decreasing their export prices and markups. This finding is more pronounced for lower-end product sold in in advanced economies, where the quality sorting of competitors is more relevant. [ABSTRACT FROM AUTHOR]

The introduction of high-cost medications often poses challenges in achieving cost-effectiveness for drug insurance coverage. Incorporating future price reductions for these medications may enhance their cost-effectiveness. We examined the influence of future cost reductions mandated by the national insurer's equal pricing for equivalent drugs (EPED) policy on the cost-effectiveness of dupilumab, a biologic drug for moderate to severe atopic dermatitis in the Korean healthcare system. We conducted a policy simulation study using semi-Markovian cost utility analysis of dupilumab in combination with supportive care (SC) versus SC alone, with and without the EPED policy adjustment. The EPED would lower dupilumab's price to 70% following the entry of a biosimilar drug in 10.3 years. Scenario analyses quantified the impact of changing time to the EPED, chemical versus biological designation, response criteria, discount rates, and time horizons on the Incremental Cost-Effectiveness Ratio (ICER) and acceptability with and without EPED adjustment. The EPED adjustment of dupilumab's future price significantly improved its cost-effectiveness, with a 9.7% decrease in ICER and a substantial 14.6% increase in acceptability. Assuming EPED in 5 years, the ICER fell below the predefined willingness-to-pay threshold. If dupilumab were a chemical drug, EPED adjustment demonstrated a 19.1% increase in acceptability. Incorporating future cost reductions via the EPED system in economic evaluations is crucial, especially for drugs facing imminent generic entry. This study underscores the importance of EPED adjustment in the cost-effectiveness analysis of innovative medications, especially for those nearing willingness-to-pay thresholds. [ABSTRACT FROM AUTHOR]

Research Summary: Although patent races of leading technology firms have garnered significant attention in the prior literature, it remains unclear how the outcome of a patent race affects subsequent firm‐level innovation. Drawing on agency theory, we propose that losing a patent race drives firms to pursue more technological innovation than winning due to managerial concerns. To investigate the mechanism, we hypothesize that the positive impact of a lost race on a firm's innovation is more pronounced when more shareholders hold near‐term investment horizons and when a CEO is less protected against the pressure of shareholders. By constructing a unique dataset of simultaneous patent applications, we find evidence consistent with the proposed theory. Managerial Summary: This study explores the impact of a patent race on the subsequent innovation of leading technology firms. We find that losing firms tend to pursue more innovation after the race, surpassing the winner in terms of innovation. This finding is particularly pronounced when top managers are more pressured by the shareholders. Specifically, we show that the positive effect of a lost race is especially evident in publicly listed companies with a higher ratio of short‐term institutional investors and where CEOs have less protection from shareholder pressures in the public market. This research underscores how a setback in a technology competition can act as a catalyst to change innovation dynamics among competitors at the technology frontiers. [ABSTRACT FROM AUTHOR]

This article explores the effects of corporate taxes on shareholders, workers, and investment. It presents different perspectives on the issue, with some arguing that corporate taxes redistribute income and others claiming they are self-defeating. The article introduces a simplified model that predicts how corporate taxes impact wages, employment, domestic pretax profits, and domestic capital. The model suggests that manufacturing firms may be more affected by corporate taxes than service firms, which aligns with recent empirical evidence. The article also provides empirical evidence and analytical examples to support its findings. It concludes by acknowledging the limitations of the model and suggesting areas for further research. [Extracted from the article]

This study delved into the moderating impact of industry diversification and competition intensity on the relationship between merger and acquisition transaction prices and enterprise value. Using panel data on corporate mergers and acquisitions in Jordan between 2017 and 2022, this study applied a fixed effect model and performed robust regression to test hypotheses. A total of 402 observations for 108 companies were included in the estimation, and year dummies were incorporated into the model to control for year-specific effects. The findings revealed that transaction prices had a significantly negative impact on the firm's future value. However, this negative effect was mitigated in the opposite direction if the acquirer faced highly competitive intensity. Moreover, in the case of mergers and acquisitions between companies in different industries, this mitigating effect became even more pronounced. The study carries several theoretical implications. It quantitatively demonstrated that the effects of corporate mergers and acquisitions, particularly the effects of transaction prices, influence the corporation's value. These effects are moderated by the corporation's competitive environment and the characteristics of the merger and acquisition, including whether it involves companies in different industries. The research also has significant implications for practical corporate merger and acquisition applications. Practitioners should analyse synergies and fair values with target companies and comprehensively consider the competitive intensity of the company's markets that can be effectively accessed through mergers and acquisitions when anticipating the effects of mergers and acquisitions. [ABSTRACT FROM AUTHOR]

During the past few years, hydrogen use has come to be considered as an alternative energy carrier in a future decarbonized world. Many developed nations are undergoing a shift towards low-carbon energy sources, driven by the excessive reliance on fossil fuels and the detrimental effects of climate change. This study aims to investigate the potential for hydrogen deployment in the Greek energy market during the next few decades. In this context, green hydrogen's potential application in the Greek market is being assessed, employing an integrated techno-economic model grounded in worldwide trends and localized expenses. The forthcoming years will see an analysis of both the challenges and opportunities surrounding the integration and implementation of hydrogen in new and existing processes within Greece. Many alternative ways to produce hydrogen in Greece are investigated, contemplating different production paths. We evaluate how fluctuations in hydrogen, oil, and carbon prices affect the economics of green hydrogen adoption in oil refining, as is detailed in the draft of the European Union delegated act published in May 2022. The Levelized Cost of Hydrogen (LCOH) for different scenarios is calculated for the time frame up until 2050. A sensitivity analysis reveals that investment costs, electricity prices, electrolyzer efficiency, and carbon taxes significantly influence the LCOH, ultimately impacting the economic competitiveness of hydrogen production. These findings underscore the importance of aligning public–private partnership agendas in hydrogen production to create optimal conditions for investment attraction and development. [ABSTRACT FROM AUTHOR]

Academic libraries are experiencing drastic changes due to unprecedented advancements in technology. This advancement has caused changes in users' information-seeking behavior, increased information competitors, and easy access and availability to free information on the internet. It is unfortunate that all this is happening amidst the dwindling financial support libraries receive from their parent organization. These variations, such as the digital shift and remote access, changing user expectations, open access movement, the need for data management and preservation models are causing havoc and disruption to academic libraries; therefore, academic libraries need to justify their position and relevancy. This paper discusses the conundrum academic libraries face and suggests why and how they should adopt entrepreneurial practices. [ABSTRACT FROM AUTHOR]

This research has investigated the impact of market competition on efficiency and profitability in banking sector of Pakistan with mediating role of credit risk. Panel data of 19 conventional banks operating in Pakistan has been used for the time period of 2006-2016. By using Panel data techniques this study has found that market competition has significant impact on profitability and efficiency of Pakistani banks. Credit risk is positively and significantly related with market competition. Moreover, the impact of credit risk on banks profitability and efficiency is significant and negative. The empirical findings show that credit risk mediates the relationship between market competition and ROA as well as market competition and cost efficiency. The results of this study may help to suggest modifications in current banking principles to boost market competition, to certify financial stability and to increase banks efficiency and profitability. [ABSTRACT FROM AUTHOR]

This study uses a sample of Chinese listed firms to examine how overconfident CEOs influence firm risk, with product market competitiveness serving as a moderator. The findings of this investigation reveal that firms led by overconfident CEOs are more likely to have very volatile stock returns and cash flows, which runs counter to the predictions of traditional agency theories that assume agents are rational and risk averse. The results also demonstrate that non-state-owned firms are particularly susceptible to the unfavorable effects of overconfidence. Furthermore, except for state-owned firms, a competitive industrial environment may mitigate the negative consequences of CEO overconfidence. These outcomes suggest policy makers and regulators to formulate strategies for promoting stronger competition in the industry. [ABSTRACT FROM AUTHOR]

Intensive wheat production, which produces high yields through the excessive use of chemical inputs and non-renewable energy, is unsustainable in the long term. Innovative cultivation methods such as intercropping can address emerging challenges. This kind of plant association offers the possibility of achieving a balanced yield with the use of a natural nitrogen source. An experiment was conducted for three growing seasons (2020/2021, 2021/2022, 2022/2023) with a combination of three winter wheat varieties (GK Szilárd, Cellule, GK Csillag) and a winter pea variety (Aviron) in three sowing densities to determine the species interaction and the economics of mixed plots. The intercropping systems were evaluated in terms of the land equivalent ratio (LER), aggressivity (A), competitive ratio CR), actual yield loss (AYL), monetary advantage index (MAI), and intercropping advantage (IA). In almost all mixtures, the values of partial A, CR, and AYL indicated that wheat was more competitive than peas due to the overconcentration of mixtures. For MAI, the mixture Cellule/Aviron 75:50 was more profitable than the others in the first two years. Our results draw attention to the influence of the seeding rate, which can contribute to new directions for current research. [ABSTRACT FROM AUTHOR]

As an important way to expand financing channels, the listing can significantly improve the enterprises' comprehensive competitiveness. However, few studies pay attention to the continuous impact of listing years on enterprise innovation. Based on the sample data of Chinese enterprises before and after listing from 2004 to 2017, this paper discusses the relationship between the listing years and dual innovation. And analyzes the moderating effect of slack. The research shows that the listing years are related to the quantity and quality of innovation in the inverted U-shaped, but the inflection point of the innovation quantity is later than the innovation quality. Before listing, the innovation quantity and quality increased; after listing, the innovation quantity first increased and then decreased, while the innovation quality declined. High slack makes the inverted U-shaped relationship between the listing years and innovation quality steeper. [ABSTRACT FROM AUTHOR]

Este estudio tiene por objeto medir los efectos de la participación en las cadenas globales de valor sobre la productividad total de los factores de la economía brasileña utilizando modelos de paneles dinámicos heterogéneos y métodos que permiten diagnosticar efectos a corto y largo plazo. El estudio innova en dos aspectos: se estima el impacto de las cadenas globales de valor en la productividad total de los factores sectorial brasileña, desagregando los indicadores de participación en cadenas simples y complejas desarrollados por Wang y otros (2017), y se usa una metodología inédita en el análisis entre participación en las cadenas globales de valor y productividad total de los factores sectorial brasileña. A largo plazo, esta participación parece generar ganancias de productividad con cualquier indicador considerado. Además, los mayores efectos a largo plazo se producen cuando las actividades se desarrollan en cadenas complejas. Se encuentran efectos positivos en 15 de los 31 sectores analizados. [ABSTRACT FROM AUTHOR]

Competitiveness is a key requirement for modern companies to survive. Effective corporate governance practices are also fast emerging as a fundamental obligation owed to shareholders and other stakeholders. The connection between competition and good corporate governance is derived from the product market competition hypothesis (PMCH) that projects the idea that operating in competitive markets would increase x-efficiency and decrease agency costs in companies, leading to superior corporate governance. Although a significant amount of work, both theoretical and empirical has been carried out on the efficacy of the PMCH, none of the research has been conclusive. Moreover, there has been no concentrated effort into determining the impact of the PMCH on the specific types of agency problems that are endemic to companies with largely concentrated shareholding structures like India. The paper highlights that a part of the reason behind the waning and unconvincing research on the PMCH (specially in India) has been the focus on competitiveness as an abstract concept or empirical construct, rather than on the regulatory aspect of competition, that is, competition law. This paper examines the connection between competition law and corporate governance, specifically the utility of competition regulation in being used to improve corporate governance in companies. It also considers the effectiveness of competition law in dispelling some of the pervasive Indian corporate governance problems such as tunneling and inefficient related party transactions. Some of the methods that are considered which would have such an impact and thus are recommended by the researcher, are a redefinition of 'dominant position' in the competition law discourse, to include within it pyramidical groups of companies as well as viewing tunneling practices as having an 'appreciable adverse effect' on competition. Doing so would result in numerous efficiencies as competition law could be used to kill two birds with one stone: increasing both competitiveness and good corporate governance. [ABSTRACT FROM AUTHOR]

The shift towards digitalization is fundamentally transforming societies and changing lives. Meanwhile, many African countries are lagging behind on the dividends of accelerated digital technologies to address their developmental challenges. This is partly because of the dearth of evidence demonstrating how technological integration impacts on economic growth and poverty reduction. By relying on panel data for the period 2011–2021, this study empirically estimates the degree to which ICT adoption contributes to South Africa's economic competitiveness along four indicators: boosting productivity, accelerating business growth, increasing government operational efficiency, and creating opportunities for people. The data were analyzed using multivariate regression analysis. The findings indicated a strong positive correlation between the application of digital technologies and the improvement of business operations welfare improvement, and GDP growth. The findings suggest to policymakers the need to prioritize interventions that drive investment in digital infrastructure. Given the net positive effects of ICT innovations, it is also recommended that policymakers focus on building the ICT skills of South Africans, while ensuring a business-friendly environment that enables fast digital penetration in the economy. [ABSTRACT FROM AUTHOR]

The use of predator-prey models in economics has a long history, and the model equations have largely evolved since the original Lotka-Volterra system towards more realistic descriptions of the economic dynamics of predation, competition, and synergy. Seminal examples in this regard are the business cycle model (Goodwin, 1967), chaotic hysteresis (Rosser, 1994), and the models of renewable resources (Clark, 1990). Given this background, this paper aims to analyse the mechanism of economic competition under different conditions, by adopting the unifying framework of niche models. Niche models are dynamic competition models that allow for a richer description of the interacting economic variables than the neoclassical economic theory. We conduct a qualitative study of the dynamic behaviour of firms of different types/sizes in the province di Bologna (Italy), analyzing - in discrete time - their competition through simulation experiments. It emerges that the economic system under analysis is coherent with different (in)stability patterns depending on different configurations of the firms within the market, by confirming the theory of industrial districts in the northeast of Italy. [ABSTRACT FROM AUTHOR]

We study product market competition's influence on annual report readability. As competition increases in an industry, our findings show that firms reduce the readability of their annual reports. We further document that the impact of competition on annual report readability is stronger for research and development (R&D)-intensive firms, for firms that have a higher level of trade secrecy (i.e. proprietary information), and for firms with higher levels of CEO performance-based incentives. Overall, our findings highlight the importance of the proprietary cost effect of competition on annual report readability. [ABSTRACT FROM AUTHOR]

We examine the association between strategic deviation—defined as the deviation of firms' resource allocation from that of industry peers—and corporate tax avoidance. By combining the agency perspective with the risk aspect, we argue that managers of firms with high strategic deviation avoid tax compared with those of firms with low strategic deviation. High-strategic-deviant firms who avoid tax are likely to face the risk of compromising firm value. Based on a large sample of 40,168 US firm-year observations for the period 1987–2020, we find evidence supporting our hypothesis. A series of robustness tests validates our main finding. We further provide evidence to suggest that the positive association between strategic deviation and tax avoidance is stronger for deviant firms with high financial constraints, low institutional ownership, firms operating in more competitive markets, and procuring higher auditor provided tax services from incumbent auditors. Importantly, we show that the capital market penalises tax avoidance strategies undertaken by the deviant firms. [ABSTRACT FROM AUTHOR]

The paper constructs a theoretical framework suggesting a moderating impact of product market competition in determining the relationship between family ownership/control and innovation. We argue that the elimination of 'career concerns' of CEOs in firms with greater family share may explain the mechanism followed to encourage R&D investments. Empirical testing of the hypotheses is performed using data from the Indian manufacturing industry for the period 2001–2018. The findings suggest that the domestic product market competition complements the relationship between family ownership/control and R&D investments. This indicates that family firms tend to invest more in R&D as domestic product competition increases. The data suggest that the effect of family involvement on innovation is due to the reduction of managerial career concerns, as we find that managerial turnover (conditional on poor performance) is lower if family involvement is higher. This effect is significantly stronger under higher degrees of competition. [ABSTRACT FROM AUTHOR]

Using an administrative payroll data set for 2.6 million retail workers, we find that the staggered rollout of a major e-commerce firm's fulfillment centers reduces traditional retail workers' income in geographically proximate counties by 2.4%. Wages of hourly workers, especially part-time hourly workers, decrease significantly driven by a drop in the number of hours worked. We observe a U-shaped pattern in which both young and old workers experience a sharper decrease in wage income. Consequently, some workers experience an increase in credit card delinquency. Using data for 3.2 million stores, we find that sales (employment) at proximate stores decrease by 4% (2.1%). Exits, especially of young and small stores, increase, and entry decreases. Our results highlight how creative destruction led by e-commerce impacts local labor markets. This paper was accepted by Anindya Ghose, information systems. Funding: The authors gratefully acknowledge funding support from the Kauffman Foundation Junior Faculty Fellowship. Supplemental Material: The online appendix and data are available at https://doi.org/10.1287/mnsc.2023.4795. [ABSTRACT FROM AUTHOR]

This Article describes the emergence of corporate law federalism across a long twentieth century. The period begins with New Jersey’s successful initiation of charter competition in 1888 and ends with the enactment of the Sarbanes-Oxley Act in 2002. The federalism in question describes the interrelation of state and federal regulation of corporate internal affairs. This Article takes a positive approach, pursuing no normative bottom line. It makes six observations: (1) the federalism describes a division of subject matter, with internal affairs regulated by the states and securities issuance and trading regulated by the federal government; (2) the federalism is an artifact of history rather than an instantiation or reflection of a theory of government; (3) competition for charters at the state level resulted in a stable, as opposed to a volatile legal regime; (4) just as economic contractions lead to new regulatory constraints on the conduct of business, so do economic expansions lead to increased regulatory slack; (5) even though regulation on the ground never fully adhered to the subject matter division, the division became increasingly salient over time, taking on positive normative implications; and (6) federal lawmakers came to adhere to a norm of noninterference in state regulation of internal affairs. [ABSTRACT FROM AUTHOR]

Copyright of Environmental & Social Management Journal / Revista de Gestão Social e Ambiental is the property of Environmental & Social Management Journal and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Environmental & Social Management Journal / Revista de Gestão Social e Ambiental is the property of Environmental & Social Management Journal and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

T he global economy significantly relies on the air conditioning sector, which has been gaining increased importance worldwide and in Türkiye due to the impact of global warming, climate change, and the diminishing energy resources. As a multifaceted industry encompassing air conditioning, heating, installation, insulation, refrigeration and ventilation sector has been adapting to the growing demand for environmentally friendly and energy-efficient solutions. This study analyzes air conditioning industry of Türkiye and its sub-product groups in terms of its ability to compete internationally, spanning from 2001 to 2021. To assess competitiveness, we employed various analytical tools, including Balassa's Revealed Comparative Advantages Index (RCA), Vollrath Indices (RXA, RMP, RTA, RC), Revealed Symmetric Comparative Advantages Index (RSCA), Trade Balance Index (TBI), and Product Mapping method. Notably, there is no research that scrutinize the competitiveness of the Turkish air conditioning industry utilizing the Product Mapping. The study findings emphasize that air conditioning industry of Türkiye has competitiveness. Within the sub-product group, the analysis reveals that Türkiye has competitiveness for 11 products, a near-limit competitiveness for 3 products, and a lack of competitiveness for 10 products. [ABSTRACT FROM AUTHOR]

In most marketplaces, brands face fierce competition. Those that are adopted into consumers' self‐concepts in the form of a strong self‐brand connection reap myriad benefits including more positive evaluations, increased purchase intentions, and greater customer loyalty. This research tests the premise that the processing fluency of two prominent branding elements, brand name and logo, may promote self‐brand connection. A series of three studies indicates that processing fluency, prompted either through repeated exposure to a logo (Study 1) or more easily processed brand names (Studies 2 and 3), is associated with a stronger self‐brand connection. Evidence across the studies supports that the sense of brand familiarity stemming from fluent assessment promotes narrative processes in which the brand is connected to aspects of one's life and that such narrative processing, in turn, leads to the formation of stronger self‐brand connections. Further, such evidence is provided via direct measures of self‐brand connections, investigation of consumers brand narratives, and hemostatic brain response as measured via functional magnetic resonance imaging. [ABSTRACT FROM AUTHOR]

Research Summary: Coordination challenges generate uncertainties in ecosystems. Past research suggests that standardization mitigates these challenges, reducing ecosystem‐level uncertainty. But how does it affect firm‐level uncertainty over value‐appropriation? We examine heterogeneity in the latter effect. Using 1996–2010 data on standard‐setting in Information and Communications Technology (ICT) ecosystems and a firm‐level uncertainty measure based on stock option implied volatility, we demonstrate that while standardization reduces uncertainty for firms that own part of the standardized components, it heightens uncertainty for firms that do not, especially when they face strong rivals in complementary technologies or have fewer complementary technologies or production assets themselves. Findings stress that coordination tools enhancing ecosystem‐level value‐creation can end up hurting firm‐level value‐appropriation and worsen uncertainty for some firms in the ecosystem that the tools are meant to help. Managerial Summary: In an ecosystem, a firm faces two types of uncertainty—ecosystem‐level uncertainty over how to coordinate with others on developing interoperable parts, and firm‐level uncertainty over whether it can occupy a viable position to capture value. Standardization, a commonly touted solution, reduces the former but not necessarily the latter. Using 1996–2010 data on standard setting in ICT ecosystems and stock option implied volatility, we show that for non‐standard‐owner firms, standardization in fact worsens the latter, especially when they face strong rivals or lack complementary technologies or production assets in areas complementary to the standard. Thus, tools like standardization meant to solve ecosystem‐level coordination problems can end up raising more doubts on firms' ability to capture value and discouraging firms from participating instead of promoting ecosystem growth. [ABSTRACT FROM AUTHOR]

Most national competition authorities apply national and EU competition law in parallel. It is explicitly permitted by Regulation 1/2003 and the practice itself is not much debated. This article argues that it should nonetheless be abandoned, as it may cause substantial problems, both for the parties to the proceedings and more generally, to the predictability of competition law, while not bringing any clear benefits. [ABSTRACT FROM AUTHOR]

The advancement of science and technology has spurned an expansion in patent entitlements, particularly evident in the extension of the object, content, and term of these rights. Currently, the world's criminal legislation is in the trend of criminalization, the expansion of patent rights further promotes the criminalization of patent protection and is embodied in the change process of the patent legal system. To comply with the trend of criminalization of patent protection, it is necessary to establish the offense of patent infringement. This is not only an effective way for criminal law to play its role as the ultimate safeguard, but also an important system for encouraging market competition and promoting economic development. [ABSTRACT FROM AUTHOR]

Purpose: This study explores the impact of Supplier Relationship Management (SRM) practices on supply chain performance, with a focus on cost efficiency, within the dynamic context of Bangladesh. The purpose is to elucidate the relationships between SRM practices, specifically Supplier Collaboration, Supplier Development, Supplier Evaluation and Selection, and Long-Term Supplier Relationships, and their influence on cost efficiency within supply chains. Design/Methodology/Approach: A quantitative research approach was employed, utilizing regression analysis and correlation analysis to analyze data collected through a structured survey from 270 Participants within Bangladesh's Manufacturing and Service Sectors. The research adopted a cross-sectional time horizon, providing a snapshot view of the relationships between SRM practices and cost efficiency. Findings: The findings reveal that Supplier Collaboration and Long-Term Supplier Relationships significantly and positively influence cost efficiency within the supply chains of Bangladeshi organizations. These SRM practices collectively contribute to approximately 64.2% of the variance in cost efficiency, emphasizing their critical role in optimizing supply chain performance. Research Limitations/Implications: Limitations of this study include its cross-sectional nature and the focus on a specific set of SRM practices. Future research can explore additional SRM dimensions and employ longitudinal approaches for deeper insights. Practical Implications: Practitioners can leverage the study's findings to enhance supply chain performance by implementing holistic SRM strategies, fostering collaborative supplier relationships, and nurturing long-term partnerships with suppliers. Social Implications: This research contributes to the broader economic landscape of Bangladesh by highlighting the importance of SRM practices in enhancing cost efficiency, which can ultimately lead to economic growth and competitiveness. Originality/Value: This study extends the understanding of SRM practices by examining their applicability and significance in an emerging market like Bangladesh. It underscores the originality and value of SRM as a strategic imperative for organizations operating in diverse contexts. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to examine whether the presence of advisory directors affects firm discretionary accruals (DACC), a widely used proxy for financial reporting quality. The authors argue that the advisory director weakens the board monitoring role and impairs the firm financial reporting quality by increasing DACC. Design/methodology/approach: The sample consists of listed firms on the Australian Stock Exchange from 2001 to 2015 using 7,649 firm-year observations. The authors perform descriptive statistics, regression and propensity score matching analyses to examine the research hypothesis. Findings: The research evidence that firms with a higher presence of advisory directors have more DACC, indicating poor financial reporting quality. Furthermore, the authors categorize the DACC and find that the firm has higher income-increasing DACC in the presence of higher advisory directors. The findings are robust concerning endogeneity issues. Research limitations/implications: The research evidence that firms with a higher presence of advisory directors have more DACC, indicating poor financial reporting quality. Furthermore, the authors categorize the DACC and find that the firm has higher income-increasing DACC in the presence of higher advisory directors. The findings are robust concerning endogeneity issues. Practical implications: The research contributes valuable insights for regulators and policymakers seeking to comprehend the implications of firms using more advisory directors. Additionally, the authors recognize the potential significance of the findings for the institution of directors, as they can provide a nuanced understanding of the specific roles played by advisory directors in organizational dynamics. Originality/value: While the extensive body of literature on corporate governance and financial reporting quality has been well-established, a noticeable void exists in academic research delving into the relationship between advisory directors and DACC management. This study seeks to fill this gap, making a distinctive and original contribution to the existing literature on corporate governance. [ABSTRACT FROM AUTHOR]

The International Accounting Standard No. 39 and the Statement of Financial Accounting Standard No. 133 were issued to address investors' concerns regarding the reporting requirements for derivatives and hedging activities. I examine the influence of derivatives recognition, as required by SFAS 133, on investors' uncertainty and diversity of opinion about the cash flow implications of underlying market rate changes. Using a sample of firms included in the S&P 500 Index, I find a decline in investors' uncertainty and diversity of opinion after the adoption of SFAS 133 for users of derivatives. Furthermore, I find that investors' uncertainty and diversity of opinion after the adoption of SFAS 133 is higher for users of derivatives operating in highly competitive industries compared to in less competitive industries. Overall, the study highlights the importance of considering a firm's competitive environment when implementing recognition practices related to derivatives and hedging activities. [ABSTRACT FROM AUTHOR]

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We study all-pay auctions with noise both theoretically and experimentally. First we show theoretically that all-pay auctions with noise (or "luck") can be surprisingly like standard all-pay auctions with complete information in several important respects. Equilibria in both formats feature the same expected expenditures and payoffs. One difference, however, is that without noise predictions are in mixed strategies, while with noise predictions are in pure strategies. We next report the results of an experiment on our model and find qualitative support for the predicted equivalence of expected expenditures. Our experimental results on the noisy version of the model are particularly interesting, as subjects' behavior appears to be more closely in line with the model's theoretical equilibrium predictions than the treatment without noise in terms of reduced variance. [ABSTRACT FROM AUTHOR]

In the contemporary era, the strategic rivalry between the United States and China is increasingly manifesting itself in the economic domain, leading to concerns about potential economic warfare. This paper delves into the concept of economic war within the context of the U.S.-China strategic competition, examining the various tactics employed, the implications for global trade and investment, and the potential paths forward. Economic warfare refers to the strategic use of economic measures, such as trade barriers, sanctions, subsidies, and other policy tools, to gain an advantage over a competitor. The U.S. and China, being the world's two largest economies, have engaged in a range of economic actions aimed at weakening the other's economic power while strengthening their own. The U.S. has employed tactics such as tariffs, blacklisting Chinese technology companies, and initiating a trade war, citing concerns over unfair Chinese trade practices. China, on the other hand, has pursued strategies like subsidizing domestic industries and promoting indigenous innovation. This economic competition has far-reaching implications for global trade and investment flows, as well as for multinational corporations operating in both markets. Additionally, it raises concerns about potential unintended consequences and the risk of escalation. The paper explores the nuances of this economic rivalry, highlighting the complexities and interdependencies between the two economies. It concludes by offering insights into potential paths forward, emphasizing the importance of dialogue, cooperation, and finding a balance between competition and collaboration in the pursuit of mutual economic interests. [ABSTRACT FROM AUTHOR]

This study uses the Plain Writing Act of 2010 as an exogenous variation in the readability of 10‐K reports to establish the impact of report improvements on firm risk. We find that better readability significantly decreases total and idiosyncratic risks for US firms experiencing shocks to their readability environment during 2001–2016. The impact is stronger among firms with poorer governance, less external monitoring, and greater product market competition. The results based on supporting the causal impact of readability on firm risk are robust. Our findings suggest that more readable 10‐K reports facilitate investor monitoring, inducing firms to manage risk better. [ABSTRACT FROM AUTHOR]