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Social media platforms are extensively used in the present era and are now considered as an essential part of communication. Social media usage (SMU) within an organization distracts employees and may adversely affect their performance. However, SMU also significantly influences employees to collaborate and share information about their jobs as well as professional knowledge. This study examines the role of SMU on job performance, taking into consideration the influences of social capital and knowledge sharing. The proposed model has been empirically tested through a survey of 608 faculty from Indian public universities. The results highlight that social media usage has a significant influence on social capital, which further influence employees' knowledge sharing and enhances job performance. Social media usage among employees plays an important role in the development of their social capital, which enables them to learn and build knowledge about jobs and, consequently, to perform tasks more effectively. [ABSTRACT FROM AUTHOR]

The article titled "Comment" summarizes and analyzes a research paper that explores the relationship between industry total factor productivity (TFP) growth and the variance of supplier TFP growth. The authors of the comment agree with the original paper's findings that there is a negative relationship between industry TFP growth and the cross-sectional variance of supplier TFP growth. However, they find that when using an adjusted TFP measure, the relationship becomes less significant. The comment also suggests an alternative approach that includes own-industry employment growth as an additional factor, which reduces the coefficient of interest. The authors of the comment conclude that the Neoclassical channel is present in the data, but there are limitations to their analysis. [Extracted from the article]

The given text is a correction notice for an article titled "The relationship between decentralization and economic growth across regimes" published in the Annals of Regional Science. The correction states that there were errors in Tables 3, 4, and 5 of the original article. The negative coefficients in Tables 3 and 4 were incorrectly placed in one row and the number in another below, and Table 5 had typos in the variables. The correction requests the placement of the corrected tables. [Extracted from the article]

Investors generally aim to obtain a high return from their stock portfolio. However, investors must realize that a high value-at-risk (VaR) is essential to calculate for this aim. One of the objects in the VaR calculation is the asymmetric return volatility of stocks, which causes an unbalanced decrease and increase in returns. Therefore, this study proposes a mean-value-at-risk (mean-VaR) stock portfolio optimization model based on stocks' asymmetric return volatility and investors' risk aversion preferences. The first stage is the determination of the mean of all stocks in the portfolio conducted using the autoregressive moving average Glosten–Jagannathan–Runkle generalized autoregressive conditional heteroscedasticity (ARMA-GJR-GARCH) models. Then, the second stage is weighting the capital of each stock based on the mean-VaR model with the investors' risk aversion preferences. This is conducted using the Lagrange multiplier method. Then, the model is applied to stock data in Indonesia's capital market. This application also analyzed the sensitivity between the mean, VaR, both ratios, and risk aversion. This research can be used for investors in the design and weighting of capital in a stock portfolio to ensure its asymmetrical effect is as small as possible. [ABSTRACT FROM AUTHOR]

Following Marx's general law of capitalist accumulation, the present article seeks to evaluate the impact of fixed capital stock, labor productivity, and the mass of profits on the dynamics of employment in Colombia from 1965 to 2019 using a Vector Error Correction Model. The results show that the level of employment exhibits a significant long-term relationship with both the fixed capital stock and labor productivity. In line with Marx's theory, employment expands with fixed capital stock and contracts with labor productivity. In turn, the mass of profits has positive effects on both the capital stock and labor productivity. The empirical findings also support the existence of Marx's biased technical change as well as a negative feedback effect from employment to profits. JEL Classification: J21, C21, C22, B51 [ABSTRACT FROM AUTHOR]

In Marx's economic theory, the level of employment is fundamentally determined by capital accumulation. Nevertheless, that determination is contradictory since, on the one hand, the employment level expands with the capital stock while, on the other hand, it tends to contract with technical change and the growing productivity of labour. This article seeks to estimate this contradictory effect employing two complementary econometric methods: first, cross-sectional regression analysis for more than 100 countries in the years 2014, 2004, 1994 and 1984; second, time-series analysis for the United States, France, Japan, Turkey and Mexico from 1964 to 2014. Our empirical results are in line with Marx's theoretical framework: the level of employment grows with the expansion of fixed capital stock and reduces with increases in the productivity of labour. [ABSTRACT FROM AUTHOR]

Epidemic shocks have brought the issue of household economic vulnerability to the fore. Furthermore, an urgent need to establish a long-term mechanism to particularly help low-income groups cope with risk shocks, and minimum wage policies should be able to play an important role. Therefore, based on CHFS panel tracking data in 2015, 2017, and 2019, the impact of the minimum wage increase on household economic vulnerability and its mechanism of action is empirically tested. We found that for every 10% increase in the minimum wage, the probability of economic vulnerability occurring in the household economy decreases by 2.81 percentage points because the minimum wage increase raises the household income level of low-income groups, improves the health status of household members, and increase their commercial health insurance, emergency savings and financial capital stock. This impact is more significant for rural households, households in areas with high marketization levels, better rule of law levels and with low education levels. The article's research helps to comprehensively analyse the welfare effects of minimum wage policies and expand the policy options for helping low-income groups cope with risk shocks. [ABSTRACT FROM AUTHOR]

The literature on the informal economy and environmental quality nexus is quite thin despite that the considerable size of the informal economy is capable of creating significant effects on the environmental quality, since the firms in the informal part of an economy are not subject to regulations. This study aims to investigate the aforementioned nexus on the global scale using a large panel of 138 countries for the 1990–2018 period. By utilizing Augmented mean-group estimation technique and bootstrap Granger non-causality approach, it is shown that the size of the informal economy is negatively associated with and causally linked to carbon-dioxide (CO2) emissions, globally. In addition, GDP per-capita, population and government consumption are found to be in highly significant positive relation with the emissions, whereas no significant effect is captured from globalization and capital stock. The marginal analysis for the informal sector size and CO2 emissions nexus shows that the relation gains momentum as the informal sector shrinks, particularly below 20% of GDP. Thereby, it is concluded that the countries with an informal sector that allocates a larger part of the economy are suffering from severe underproductivity. It is also argued, based on the marginal analysis, that if the size of the informal economy continues to shrink globally and policymakers do not take the necessary actions, CO2 emissions might hike sharply in the future. [ABSTRACT FROM AUTHOR]

Following the paucity of empirical evidence on the effects of terrorism and uncertainty on economic complexity in Africa and the moderating role of governance institutions on these relationships, this study raised two important questions. First, how are terrorism and uncertainty impacting on economic complexity in Africa? Second, how are governance institutions moderating the effects of terrorism and uncertainty on economic complexity in Africa? To answer these questions, the study employed pooled ordinary least squares and dynamic system generalized method of moments (GMM) estimators, with a panel of 33 African countries over the period 2010–2021. We find that the unconditional effects of terrorism and uncertainty on economic complexity in Africa are predominantly negative and significant. We also find that governance institutions predominantly have unconditional positive and significant impact on economic complexity in Africa but failed to moderate the adverse effect of uncertainty on economic complexity. However, trade openness, international tourism and lagged economic complexity are potent factors promoting economic complexity in Africa, while physical capital stock remained a deterring factor. The study concluded that policymakers and leaders in Africa should engage in collaborative efforts at the African Union level to promote high‐quality institutions, while simultaneously addressing the detrimental effects of terrorism and uncertainty on the continent. [ABSTRACT FROM AUTHOR]

Due to the challenges associated with measurement, studies attempting to evaluate the effects of mega and non-mega sports events from a broader, more comprehensive perspective are rare. This paper relies on Camagni's concept of territorial capital, which is often used to evaluate policy actions in regional studies but represents a new concept in sport. The study investigates the option of employing this concept to evaluate international sports events. It is thus the first to involve the concept in the area of sports events and, indeed, in sport generally. After introducing the concept, its four traditional subdimensions are addressed ('public goods and resources', 'private fixed capital stock', 'social capital' and 'human capital') and implemented in aspects of sports events. We found that the content of Camagni's model creates a potential base for a more wide-ranging methodology to assess the impacts and legacies of sports events. [ABSTRACT FROM AUTHOR]

This study provides evidence for the USA that the secular decline in the labor share is not only explained by technical change or globalization, but also by the dynamics of factor taxation, automation capital (robots), and population growth. First, we empirically find indications of co-integration for the period from the last quarter of the 20th to the first decade of the twenty-first century. Permanent effects on factor shares emanate from relative factor taxation. The latter also have a lasting effect on the use of robots. Variance decompositions reveal that taxing contributes to changes in the two income shares and in automation capital. Second, we analyze and calibrate a neoclassical growth model extended to include factor taxation, automation capital, and capital adjustment costs. Labor and automation capital are perfect substitutes, whereas labor and traditional capital are complements. The model replicates the dynamics of the observed functional income distribution in the USA during the 1965–2015 period. Counterfactual experiments suggest that the fall in the labor share would have been significantly smaller if labor and capital income tax rates had remained at their respective level of the 1960s. [ABSTRACT FROM AUTHOR]

The impact of capital accumulation on job creation is an important and interesting issue in economic development. This model provides a general‐equilibrium framework for studying technology choice with unemployment in a developing economy based on micro‐foundations. Unemployment in the urban sector results from the existence of efficiency wages. Manufacturing firms engage in oligopolistic competition and choose technologies to maximise profits. A more advanced technology uses more capital and less labour. In the steady state, an increase in the amount of capital induces firms to choose more advanced technologies and the wage rate increases. While a higher capital stock always induces firms to choose more advanced technologies, urban unemployment rate may decrease and agricultural sector employment may increase. [ABSTRACT FROM AUTHOR]

This study has analysed spatial effects of economic, social and political globalisation on structural change while controlling for financial access and human capital in eight ASEAN member nations: Brunei Darussalam, Cambodia, Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam. Data has been taken from the WDI Database, KOF Index of Globalisation, General Statistics Office ofVietnam and Statistics Department Singapore from 1993 to 2014. Panel Spatial Static SDM has been used to find out long-run spatial impacts of variants of globalisation and covariates on structural change. Empirical findings highlight the existence of long-run spatial negative effects of economic and political globalisation on own country's structural change and positive impacts of human capital on structural change. The cross-border spillover effects of neighbouring members on structural change of neighbour economy is such that economic globalisation has a negative, whereas social globalisation has a positive impact. The study recommends increasing human capital stock as it has a positive impact on driving structural change in ASEAN member nations in this study. [ABSTRACT FROM AUTHOR]

This study analyzes whether indigenous or foreign innovation efforts are more important for the transition of middle-income economies to the higher-income rank. Data on 61 countries in both lower middle-income and upper middle-income categories between 1980 and 2018 are used. Discrete-time hazard models are employed. The unobserved heterogeneity is controlled in the estimations to improve the continuous-time hazard model applied in existing studies on innovation at the national level. Results show that foreign sources of innovation measured by nonresident patents and international R&D spillovers through the FDI channel are more important for the lower middle-income group to move up the income ladder. For the upper middle-income group, domestic source of innovation measured by R&D capital stock is the most important, followed by foreign innovation diffused through the import channel. Institutional quality supports the upper middle-income economies to obtain the high-income rank. [ABSTRACT FROM AUTHOR]

The manufacturing industry is the foundation for building and strengthening a country. Micro-manufacturing enterprises are the basis for the development of manufacturing, and products are the core and life of enterprises. Based on micro data from industrial enterprises, this study conducts a statistical measurement on the indicators of high-quality product development. Taking the Baidu Index as the proxy variable for attention allocation, the influence of attention allocation on high-quality development of products is systematically examined both theoretically and empirically; Additionally, it seeks to ascertain whether factor stock adjustment has a mediating effect. The findings are as follows: 1. Within the full sample, 63.63% of the attention allocation process to promote high-quality development of products is achieved by optimizing the factor stock adjustment channels. 2. Capital stock and labor stock adjustment have a partial mediating effect on the high-quality development of products in capital-intensive industries, while labor stock adjustment has a partial mediating effect on labor-intensive industries. 3. The regional results show that the adjustment of capital and labor stock has a partial mediating effect in the eastern region. This conclusion provides a theoretical basis for realizing the high-quality development of China's manufacturing industry. [ABSTRACT FROM AUTHOR]

This article explores the significance of terminological knowledge in specialized translation, particularly in scientific and technical writing. It emphasizes the role of translators as language mediators and the challenges they face in identifying and understanding terms and finding suitable equivalents in the target language. The article recommends collaboration with domain experts and accessing various sources of terminological information. It also discusses the relationship between terms and concepts and the difficulties of translating highly specialized texts. Additionally, the article focuses on the terminological issues and repetitive structures in the field of economics and finance, specifically related to the concept of capitalization. It highlights the importance of accurately conveying specialized information in translation and staying updated on evolving language and specialized vocabularies. [Extracted from the article]

This paper extends the Q-theory of investment to capital goods with arbitrary efficiency profiles. When efficiency is non-geometric, the firm's capital stock and the replacement cost of its assets are fundamentally different aggregates of the firm's investment history. If capital goods have constant efficiency over a finite useful life, simple proxies are readily available for both the replacement cost of assets in place and capital stock. Under this assumption, we decompose the total investment rate along two dimensions: into its net and replacement components, and into its cash and non-cash components. We show these components exhibit significantly different economic determinants and behavior.

Two perspectives on the analysis of economic growth have developed within the input–output framework. On the one hand, Leontief proposed a dynamic model, where investment supplies the necessary capital stock needed to produce future output. On the other hand, Structural Decomposition Analysis assumes that changes in the output level are dependent on the behaviour of the technological and final demand components. This paper examines the differences between input–output tables of different periods to explain growth, as well as the contribution of the final demand components in the phenomenon. Further, the article provides examples based on the coefficient tables of five OECD economies, between 1995 and 2011, to illustrate the relevance of the method proposed here. [ABSTRACT FROM AUTHOR]

This paper investigates the role played by public capital on the production level of Italian regions by specifically accounting for the quality of institutions. Our analysis, carried out over the period 2000–2019, benefits from a rich data set on public expenditures. This allows us to build the regional public capital stock by distinguishing among public institutions in charge of the investments and sectors of intervention. While controlling for several contextual variables (human capital, technological capital, and population density), the main results show that public capital has a positive and significant effect on production. Most interestingly, looking at Mezzogiorno's regions, public capital carried out by local institutions turns out to have a lower impact than in the rest of the Italian regions. On the other hand, central bodies in the South exhibit an impact higher than the average. Moreover, institutions' quality exhibits a positive and significant effect on regional economic performance. These results cast serious doubts about the local Southern administrations' capacity to effectively manage the National Recovery and Resilience Plan's enormous resources and the new European Union cohesion framework 2021–2027. Our results are also relevant for other European regions that, featuring structural traits similar to Southern Italian regions, are expected to face the same difficulties in managing public funding. [ABSTRACT FROM AUTHOR]

This article discusses the supervision of Limited Liability Companies (PT) in Indonesia. PT is a legal entity established through an agreement and conducts business activities with divided capital in the form of shares. The article explains that supervision is carried out to ensure that PT operates in accordance with applicable laws and regulations. PT has characteristics such as separation between the company and its owners, the ability to sue and be sued on behalf of the company, and the right of shareholders to file lawsuits related to ultra vires acts. The article also explains that the requirements for establishing PT in Indonesia have undergone changes, where now PT can be established by one person and can also be operated by one person. The establishment of PT involves providing information such as the company's name, registered address, duration of establishment, purpose and objectives, business activities, capital, shareholders, and founder's data. PT must obtain legal status from the Ministry of Law and Human Rights to be recognized as a legal entity. Failure to obtain approval from the Ministry will result in PT being treated as a partnership or non-legal entity. The Ministry of Law and Human Rights has the authority to revoke the license of PT. Financial and tax supervision of PT is the responsibility of the Ministry of Finance. If the license of PT needs to be revoked, it must go through the Ministry of Law and Human Rights. [ABSTRACT FROM AUTHOR]

Copyright of Management international / International Management / Gestiòn Internacional is the property of Management International 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.)

We analyze a network‐based macroeconomic framework with the objective to analyze the effects that endogenous migration choices may have on the mutual relation between population dynamics and capital accumulation. In our economy population size determines the labor input which, together with the available capital stock, shapes total output. Production takes place with a convex‐concave technology allowing for a poverty trap. Migration depends on the origin‐destination income differential and affects the fertility rate. Thus population growth ultimately turns out to be endogenously dependent upon economic conditions. Such feedback effects between population and capital dynamics give rise to possible heterogeneity in the patterns of economic development, allowing to explain the large variability in the level of development between regions we generally observe at world level. We show that a higher degree of economic interaction improves economic outcomes at global level by allowing poor economies to escape their poverty trap, suggesting thus that promoting the formation of tight relations between countries may be an important policy option to favor economic development. [ABSTRACT FROM AUTHOR]

Firm political connections are widely recognized to have both positive and negative implications, but why do firms build political connections in the first place? Distinct from prior research that typically views firm political connections as capital stock, we focus on board political capital building —selecting new directors with political backgrounds—as a strategic decision. Drawing on the behavioral theory of the firm, we examine how board political capital building is driven by performance shortfalls based on the logic of problemistic search—seeking the potential benefits of political connections while undertaking the potential downsides. Using director selection data on Chinese listed firms, we find that firms with higher performance shortfalls are more inclined to select new independent directors with political backgrounds. We further demonstrate that it is more feasible for firms with performance shortfalls to build lower-level board political capital but infeasible for them to build upper-level political capital. [ABSTRACT FROM AUTHOR]

This paper documents the impact of the US–China trade war on firms worldwide. Based on data on more than five thousand listed firms in 40 countries, I establish that firms with export exposure to China have had a decline in revenue, profits and capital stocks since the trade war began. This effect is stronger in industries in which China raised tariffs on the US, suggesting that rest of the world exports to China are complements to US exports. At the same time, firms have benefited from export exposure to the US, especially in industries in which the US imposed trade war tariffs on China, implying that rest of the world exports substitute Chinese exports to the US. Supply chain linkages have also played a role: firms in Europe and the Americas in industries selling intermediate inputs to the US have had a relative decline in revenue during the trade war. These impacts have been highly heterogeneous across geographic regions as well as across firms of different sizes. [ABSTRACT FROM AUTHOR]

This paper presents a model where misallocation in the agricultural factors of production is caused by transportation costs to and from local markets, which result in an inefficiently large share of inputs operated by less productive subsistence farmers. The model derives some testable predictions which are verified in the empirical analysis, based on a representative census of Ugandan farms. Specifically, subsistence farmers operate inefficiently high shares of land and capital and the efficiency losses are more severe in areas where subsistence farming is more widespread, due to lower connectivity with local markets. Conversely, there is no relationship between the level of misallocation and credit access and/or land-market activity. These findings suggest that transportation costs play a key role in determining the efficiency of agricultural input distribution and that land-market liberalization is a necessary but not sufficient condition to tackle misallocation. [ABSTRACT FROM AUTHOR]

We propose a model that reconciles two aspects of social capital: social capital as reciprocal sharing of favors within a selected group vs. social capital as trust that lubricates transactions in societies. The core assumption is that individuals have productive potentials, e.g., innovations, that can not be put at use autonomously. However, individuals can associate in a club to match productive innovator-implementor dyads among the members. For a given club, allowing one new member has the effect of a) an increased pool of innovations and b) an increased pool of potential implementers. Whether a particular member supports the expansion of the club depends on whether she expects to be an implementor or an innovator. When expansion of membership is decided by vote, both small exclusive clubs and open clubs encompassing the whole society can emerge. The outcome depends both on the voting protocol, on the distribution of innovator and implementer skills, and on the maximal potential club size. Moreover, identical environments may generate multiple equilibrium club sizes. In which of these the society ends up depends on the initial conditions and on the voting protocol. [ABSTRACT FROM AUTHOR]

In the new era of high-quality economic development, the digital economy offers fresh perspectives and momentum for China to achieve a harmonious balance between innovation-driven growth and environmental protection. We develop a systematic dynamic model to examine the effects of the digital economy on China's environmental quality. The findings indicate the following: (1) the digital economy initially suppresses but later promotes environmental quality; (2) by empowering primary, secondary, and tertiary industries, the digital economy advances industrial structure optimization and upgrading, leading to improved environmental quality; (3) the digital economy encourages the growth of R&D personnel and the accumulation of R&D capital stock, which fosters technological innovation and enhances environmental quality; (4) the synergistic development of the digital economy, industrial structure upgrading, and technological innovation offset the increase in energy consumption and pollution emissions caused by the digital economy's scale effect, representing the most favorable scenario for enhancing environmental quality. Plain Language Summary: How does the development of China's digital economy impact environmental quality? In the new era of high-quality economic development, the digital economy offers fresh perspectives and momentum for China to achieve a harmonious balance between innovation-driven growth and environmental protection. We develop a systematic dynamic model to examine the effects of the digital economy on China's environmental quality. The findings indicate the following: (1) the digital economy initially suppresses but later promotes environmental quality; (2) by empowering primary, secondary, and tertiary industries, the digital economy advances industrial structure optimization and upgrading, leading to improved environmental quality; (3) the digital economy encourages the growth of R&D personnel and the accumulation of R&D capital stock, which in turn fosters technological innovation and enhances environmental quality; (4) the synergistic development of the digital economy, industrial structure upgrading, and technological innovation offset the increase in energy consumption and pollution emissions caused by the digital economy's scale effect, representing the most favorable scenario for enhancing environmental quality. This study focuses on the overall development of China's digital economy and improving environmental quality without considering the significant regional disparities in economic development and environmental quality across different areas of China. Future research can conduct more detailed analyses on specific regions to provide more accurate policy guidance. [ABSTRACT FROM AUTHOR]

We study the impact of international trade on a firm's technology choice in an infinite-horizon model. Banks engage in oligopolistic competition in providing capital for the manufacturing sector. Manufacturing firms also engage in oligopolistic competition and choose technologies with different levels of fixed and marginal costs. In the steady state, firms in a country with a larger market size or a more efficient financial sector choose more advanced technologies, and this country has a higher capital stock. The opening of international trade leads manufacturing firms to choose more advanced technologies and the steady-state capital stock increases. [ABSTRACT FROM AUTHOR]

This paper revisits the Heckscher-Ohlin-Vanek (HOV) theorem and investigates its fit for digital tasks and ICT capital, which both represent endowment factors that are expected to shape the digital transformation. We use a theory-consistent methodology for calculating the measured net factor content of trade and apply it to a unique dataset on digital and non-digital tasks performed in detailed occupations, as well as recent data on ICT capital stocks. Equipped with these data, we provide new evidence on the factor-based trade patterns for 25 EU countries and use it to test the HOV theorem. Overall, the performance of the sign test and the rank test is good, if not impressive. In 83% of the cases, countries are net exporters of those factors with which they are abundantly endowed, with a higher score achieved for digital tasks than for ICT capital. The relevance of digital tasks and ICT capital is corroborated by a gravity model, which indicates that higher endowments with these factors foster bilateral exports. [ABSTRACT FROM AUTHOR]

Copyright of GWP: Gesellschaft Wirtschaft Politik is the property of Verlag Barbara Budrich GmbH 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.)

This study investigates the relationship between the degree of human capital and the labor's share for selected 30 economies over the 1980–2019 period. The main rationale behind this nexus is to show that a higher degree of human capital reduces the labor's share if the bargaining power of workers is relatively low than the threat option of capital. This also leads to exacerbation of inter-class conflicts and thus may result in a higher rate of income diversion among the wage and salaried workers. Along with the negative impact of the bargaining framework on labor's share, the study also refers to the argument that technological progress can increase the labor's share if it absorbs the excess supply of workers by tending to an increase in employment opportunities. However, the empirical findings also imply that technological progress alone has a downward trend on labor's share since it may lead to provide an extra surplus for capital and thus raises the capital's share at the expense of labor's share. [ABSTRACT FROM AUTHOR]