Miracle-dz/UniFAR-FTUs huggingface dataset:
A Novel Metaphor Concerning the Terminology of Open Innovation

The objective of this article is to present a metaphor concerning the terminology of open innovation. This metaphor will help both academics and practitioners in getting a deeper understanding of the terms and their relationships in this emerging field. An electrical circuit is used as the metaphor. In it, the following open innovation terms are included: inbound open innovation, outbound open innovation, sequential coherence, dynamic innovation capabilities, knowledge flow, absorptive capacity, organizational inertia, and innovation performance. A corresponding term for each one of these open innovation terms is given in the metaphor. Within an organization, open innovation involves the internal exploration of external knowledge and external exploitation of internal knowledge. Open innovation is gaining wide attention of researchers as it impacts innovation performance of organizations. Systematic metaphor analysis is a qualitative research method. A metaphor is an implicit comparison in which a word or phrase that originally denotes a certain object or concept is applied to another. Time tested relationships among variables in the metaphor of electric circuit offer new insights in the domain of open innovation.
Brazilian and American Entrepreneurial Experience: Cultural and Financial Aspects From Brazilian Entrepreneurs’ Point of View

Objective: this study aims to compare the entrepreneurial experience, specifically related to the determinants culture and access to capital between Brazil (the South and the Southeast regions) and the United States of America (South Florida), from the entrepreneur´s point of view. <br><br>Methodology: an exploratory qualitative study was developed through in-depth interviews with Brazilian entrepreneurs, who had entrepreneurial experience both in Brazil and in the US. <br><br>Results: even though the American economy and the image of entrepreneurs in the US encourage entrepreneurship, the fear of failure is present in both countries. Besides, the common belief that it is easy and cheap to get credit in the US was not verified in the interviews. Finally, the perspective of entrepreneurs in relation to the regulation in the US is also contradictory. Even though they like the regulation in the US and criticize the Brazilian bureaucracy, they also would like to have the flexibility that they have in Brazil. <br><br>Methodological and theoretical contributions: this study makes it possible to future researchers to compare the venture capital market in both countries, as the other determinants that compound the entrepreneurial ecosystem. <br><br>Originality/Relevance: this study’s relevance comes from the comprehension of the differences between the entrepreneurial experience in Brazil and in the United States, through Brazilian entrepreneurs’ experiences. <br><br>Contributions: through the entrepreneurs’ experiences, it was possible to identify how the differences between the two countries, mainly regarding cultural and financial aspects, can modify the entrepreneurial ecosystem.
Evaluation of Operations Management and Its Impact on Improved Logistics Control

The study critically evaluates the effects of operations management on enhanced logistics control. The specific objectives were: To critically analyze the impact of process design on logistic control; to review the effect of production planning on logistic control, and to ascertain the effect of maintenance management on logistic control. The study adopted a descriptive research design. The population studied consists of 400 staff of the selected logistics company based in Lagos State Nigeria; made up of 12 managers, 30 Supervisors, 58 Operators and 100 technicians. The simple random sampling technique was used. A sample size of 200 was obtained using the Taro Yamane sample size formula. The analysis led to the acceptance of the hypothesis that process design, production planning and maintenance management have a significant effect on logistics control. The results led to the conclusion that all aspects of operations management affect logistics control of the selected logistics company. To increase productivity in the logistics industry, the study recommends that employees should upgrade their technical skills and logistical skills to be able to maximize efficiency in the workplace.
Effect CEO’s Demographics, and Entrepreneur and Management Skills on Business Philanthropic Activities and Its Subsequent Social and Business Benefits

To measure the value and results of philanthropy remain some of the greatest challenges. A bigger challenge is to figure out its antecedents. We tried to address both problems by proposing a theoretical framework combining its antecedent and consequence into a structural model. We theorized that the CEO’s Entrepreneur and Management Skills and well as its risk-taking ability increase the Philanthropic activities of the business. Moreover, the effects of these skills and abilities on Philanthropy are complemented by the CEO’s age, qualification, and experience. Furthermore, higher Philanthropy would lead to higher Social and Business Benefits in terms of Employees Satisfaction, better Product Quality, and Cost Efficiency. The empirical validity of our model was established by conducting a survey by means of a Likert scale type close-ended questionnaire. Data were collected from 70 Entrepreneurs/CEOs having less than 100 employees from different sectors of Pakistan. Data were analyzed using confirmatory factor analysis and structured equation modeling. The results completely validated our theory. It showed that both Entrepreneur and Management Skills, risk-taking ability as well as Age, experience, and qualification have a significant positive effect on Philanthropy. Moreover, all three demographic factors significantly and positively complement the effect of each Entrepreneur and Management Skill and Risk-Taking Ability on Philanthropy. Entrepreneur and Management Skills also have a significant effect on Risk-taking abilities. And Lastly, Philanthropy along with Risk-taking ability has a significant and positive impact on Cost Efficiency, Employee Satisfaction, and Product Quality.
Digital Technologies’ Implementation within Financial and Banking System during Socio Distancing Restrictions – Back to the Future

In 2020, the pandemic socio distancing restrictions affect both individuals and businesses. Financial transactions become a little more difficult to be conducted with cash, and online banking transactions are called to help the good development of economic activity. Having in mind that the stance in bank digitalization in each country differs, the paper aims to estimate the level of digitalization of banking sector, as well as reasons and factors determining the actual movements of digital banking. In order to achieve the objective, the paper is structured as follows, elaborates the changes in demand and supply of banking services as result of socio-financial disruption caused by the pandemic situation, financial digitalization and digitalization changes in the banking sector on global level, and the benefits of digitalization for individuals and businesses at the same level. Such approach secures the solid base for determining the measures and further steps for increasing the level of digitalization of the banking sector together with educating the population in the use of new digital technologies.
The Role of a Latent Value-Relevant Measure in Tracking and Predicting Stock Returns: A FAVAR Approach

This paper attempts to estimate and study the role of 'other information', as posited in the residual income valuation model of Ohlson (1995), for tracking and predicting future returns of the S&amp;P 500. 'Other information' is an unobserved variable and defined as a summary of value-relevant information about events and their effect on future profitability, which is captured in a company's current stock price and returns, but not yet reflected in a company's current financial statements. This suggests a potential to predict subsequent returns. Previous literature has found that traditional valuation metrics (e.g. B/P, E/P, and D/P ratios) have poor predictive power. In this study, we apply a factor augmented vector autoregression (FAVAR) to estimate this value-relevant latent variable and assess its predictive performance. The FAVAR is a suitable model because it enables us to analyze and quantify the linkages of stock market value, profitability, and unobserved factors that are broadly captured by big data. We use a two-step principal components estimation approach to extract the unobserved factors of 78 informational variables from financial market, accounting, investor and consumer sentiment, and macroeconomic data. Our analysis shows that, in comparison to competing measures, the estimated latent value-relevant variable can track contemporaneous stock returns and has statistically reliable power to predict both future real stock returns and excess returns over a Treasury Bill rate, both in- and out-of-sample.
The Impact of Remittances on Household: An Empirical Study on the Bangladeshi Diaspora in United Kingdom

This paper, the Working-Lesser model has been applied to estimate the impact of remittances on households’ expenditure patterns in Bangladesh. In order to investigate the expenditure patterns, we estimated the regressions for three different categories. The dataset which has used to examine the impact of remittances on household expenditure behaviour was obtained from the Household Survey in Sylhet Division in Bangladesh during the period January to June 2004. Given the specificities in the data, that is, the all positive numbers in current consumption variable and the presence of a considerable number of zero values in the durable goods and education categories, two different estimation methods have been used, that is OLS and Tobit. Regarding the factors affecting the expenditure patterns, the results suggested that as income in the household increases the share of expenditure in current consumption decreases. The effect of income is the opposite on the share of durable goods and education. The age-current consumption relationship is non-linear suggesting a U-shaped function and the lowest point being at the age. Home ownership increases the share of expenditure on current consumption and durable goods, while it decreases the category of education, perhaps reflecting some sort of economic security compared to their counterparts. The estimates suggest that the changes in income of households who receive remittances are spent differently compared to non-recipients across expenditure categories. However, years of migration are not found to affect expenditure patterns. Overall, the findings suggest that there is little evidence that changes in income levels for households receiving remittances are spent very differently from the households not receiving them. Finally, findings may indicate that the policy relevance for remittances is not as important as suggested by the literature for developing countries, especially for those with a similar profile to Bangladesh.
An Empirical Investigation of the Legal Origin Theory for Minority Investors Protection

Though there is criticism of the legal origin view of minority investor protection, there is no controversy about the importance of protecting them.2 The main criticism of the theory is the theoretical link between legal system and investor protection. Researchers suggests that high judicial independence (LaPorta et al. 2004), a quality legal system (Johnson et al. 2000), high protection to private property (La Porta et al. 1999) are reasons for greater protection of minority shareholders in common law countries. However, past studies do not show how these variables link legal system and minority investor protection. This paper helps to fill in this gap by empirically testing that these inherent qualities of a legal system help better legal enforcement in a country and this in turn protect minority investors which finally improves economic development of a country. <br><br>The pro legal origin theory researchers suggests that legal origin is not a destiny; quality legal reform, reform sensitive to legal tradition and reform enforcement as means of minority investors right improvement (LaPorta et al. 2008). Therefore, the study on how legal enforcement links legal origin to minority investor protection can help understand Legal Origin Theory better and strengthen its theoretical underpinnings; thus it suggest policy makers whether a country should follow legal reform route to protect minority investors or not; and if they follow this route what factors they should consider implementing legal reform as a means for protecting minority investors.
Financial Markets Under SVAR Approach for Middle East Economies

The relationships between monetary/financial variables have highly drawn attention in the literature using different techniques so as to observe whether the underlying theoretical mechanisms are compatible with the facts. In this study the scope is to investigate the relationship between exchange rate, money supply, inflation and interest rates for several Middle East economies, namely as Turkey, Pakistan, Iran and Egypt, using monthly data set. Due to the severe criticisms to a-theoretical formation of standard VAR model, structural VAR (SVAR) analysis has evolved as it enables the researcher to impose theoretical restrictions. Some of empirical findings display different results if the countries reflect diverse economic structures.
Measuring Service Quality in Software Outsourcing at Quantic Co., Ltd - A Dimension-by-Dimension Analysis

The issues of measuring service quality in software industry are not considered important even though the IT industry grew fast and dramatically in recent years. This research aims to investigate the customers’ perception and expectation of services provided by Quantic Co., Ltd. by using the market research instrument called SERVQUAL, the form of dimension-by- dimension. A sample of 137 customers were asked of the perception and expectation of services to identify the service quality by using questionnaires. Descriptive analysis revealed that the service quality gap in two dimensions- Assurance and Reliability- were high in comparison to that of the others. It suggests Quantic Co., Ltd some programs to do to reach customers’ expectations. <br>
Stakeholder Orientation and Operations Outcomes: Evidence from Constituency Statutes

We study the effect of stakeholder orientation on operations decisions. For identification, we exploit a quasi-natural experiment that effectively reduced potential personal costs for executives pursuing stakeholder-oriented decisions, the staggered adoption of constituency statutes. Using a staggered difference-in-difference approach, we find that firms incorporated in constituency states (treated firms) are 15.9 percentage points (pp) more likely to hire a chief operating officer (COO) relative to firms in non-constituency states (control firms) post reform. We also find that treated firms engage more in operational decisions discussions and increase operational investments post reform. Importantly, a structural two-stage least squares approach reveals that these changes in operational decisions, operational investments, and COO hiring contribute to increasing firm value by 17.2%, 12.6%, and 9.3%, respectively. We further find that the chief executive officers of treated firms are less likely to be fired relative to control firms post reform. Altogether, our results suggest that constituency statutes lead to higher firm value by allowing executives to implement stakeholder-oriented operational decisions that were potentially personally too costly for them pre reform. To our best knowledge, our study is the first to identify a clear economic mechanism (i.e., the enlarged decision space for executives following the reform) through which stakeholder orientation, by affecting operations decisions, contributes to firm value. Our work contributes to the sustainable operations literature by identifying the separation between shareholders and managers as a fundamental determinant of responsible operations. Interestingly, while constituency statutes were intended to protect executives adopting stakeholder-oriented policies from shareholders’ sanctions, our findings suggest that these statutes benefited not only executives and non-equity stakeholders, but also shareholders. More broadly, our results indicate that policymakers need to assess the implications of regulatory changes beyond the targeted constituencies. Importantly, shareholders should recognize managerial freedom in operations decisions as an important value driver.
Inter-city transport infrastructure and intra-city housing markets: Estimating the redistribution effect of high-speed rail in Shenzhen, China

This study analyses the changes in intra-city housing values in response to improved inter-city connection brought by high-speed rail (HSR), using the opening of the Hangzhou–Fuzhou–Shenzhen Passenger Dedicated Line (HFSL) in Shenzhen, China, as an example. The opening of the HFSL and its integration into the local metro network at Shenzhen North Station provide exogenous intra-city variations in access to the surrounding economic mass. With a difference-in-differences approach, we find that the HFSL showed a negative local effect as housing values declined by 11.5%–13.3% in the proximity of Shenzhen North Station relative to areas further from the station after the opening, possibly due to the negative externalities of the HFSL. The HFSL effect can spread along the metro network and lead to, on average, a 7% appreciation of housing values around metro stations (network effect). The direction and strength of the network effect vary by metro travel time between Shenzhen North Station and metro stations. Housing values decreased by 7.7% around metro stations within 5–15 minutes of metro travel time but increased by 63.6%, 16.6% and 29.2% around metro stations within 15–25, 25–35 and 35–45 minutes of metro travel time to Shenzhen North Station, respectively. The HFSL effect on housing values diminishes when the rail travel time is above 45 minutes. We interpret these findings as evidence of the redistribution effect in the city related to HSR connection.
Climate, Urbanization, and Conflict: The Effects of Weather Shocks and Floods on Urban Social Disorder

In this paper, we test the effect of weather shocks and floods on urban social disorder for a panel of large cities in developing countries. We focus on a particular mechanism, namely the displacement of population into (large) cities. We test this hypothesis using a novel dataset on floods—distinguishing those that affected large cities directly from those that occurred outside of our sample of large cities. Floods are found to be associated with faster growth of the population in the city, and in turn with a higher likelihood (and frequency) of urban social disorder events. Our evidence suggests that the effects of floods on urban social disorder occur (mainly) through the displacement of population, and the “push” of people into large cities. Our findings have important implications for evaluating future climate change, as well as for policies regarding adaptation to climate change and disaster resilience.
Yolk–shell Fe3O4@SiO2@PMO: amphiphilic magnetic nanocomposites as an adsorbent and a catalyst with high efficiency and recyclability

This study describes the preparation of a multifunctional adsorptive catalyst by the incorporation of ligand groups within the channels of magnetic amphiphilic nanocomposites and attached with Pd nanoparticles. It was clearly demonstrated that Pd2+ was adsorbed by ligand-functionalized materials in water, and then Pd2+ was coordinated with ligand groups. Finally, the Pd nanoparticles were produced via an in situ reduction of Pd2+ by ligand groups through a simple hydrothermal process. Moreover, amphiphilic nanomaterials are viewed as excellent collectors of hydrophobic contaminants in water. The immobilized catalytic active sites with ligand-functionalized nanocomposites were allowed for maximal exposure to the reactants with minimal leaching of the Pd nanoparticles. The unique amphiphilic nanocomposites enabled selective oxidation of alcohols to proceed efficiently in water under aerobic conditions. Moreover, this nanocomposite catalyst could be completely recovered using an external magnet due to the superparamagnetic behavior of Fe3O4 and can be recycled with sustained selectivity and activity.
The Impact of Intellectual Capital on Corporate Economic Performance in Iran in the Face of Sanctions

This study aimed to investigate the relationship between intellectual capital and economic performance in Iran in the face of sanction. The period of the study will fascinate other scholars about this paper because there were unprecedented sanctions against Iran market and many manufacturing industries were in financial distress. The paper sample consists of 543 observation and 109 firms listed on the Tehran Stock Exchange during a five-year period. We used OLS and panel regressions to test the research models. We find that intellectual capital and each of its elements have a positive and significant effect on economic performance in Iran in the face of sanction. This means that the higher level of intellectual capital in a company in Iran lead to the better economic performance in the face of sanction.
Deleting Unreported Innovation

Abstract The absence of observable innovation data for a firm often leads us to exclude or classify these firms as non-innovators. We assess the reliability of six methods for dealing with unreported innovation using several different counterfactuals for firms without reported R&D or patents. These tests reveal that excluding firms without observable innovation or imputing them as zero innovators and including a dummy variable can lead to biased parameter estimates for observed innovation and other explanatory variables. Excluding firms without patents is especially problematic, leading to false-positive results in empirical tests. Our tests suggest using multiple imputation to handle unreported innovation.
A Behavioural Investigation of the Easterlin Paradox in Housing Markets

The Easterlin Paradox states that average well-being is insensitive to average income growth over time. It also manifests itself in housing markets, where housing satisfaction does not rise as housing wealth increases in the long run. Based on prospect theory, we develop a behavioural framework to explain the Easterlin Paradox in housing markets. Two hypotheses, i.e., social comparison and adaptation, are tested by using household panel survey data from the UK. We find support to the social comparison hypothesis. Individual’s asymmetric response to changes in housing wealth distribution, i.e., loss aversion experienced by the worse-off group, could offset the gain from an increase in housing wealth at the aggregate level. As a result, housing wealth growth does not necessarily improve housing satisfaction for the society as a whole if it leads to housing wealth inequality. Although our empirical evidence is from the UK, regional disparity of housing prices is commonplace in many parts of the world. Our findings are particularly relevant to developing countries, where economic growth is often accompanied by widening income gap and rising wealth inequality. Policymakers should be mindful about the far-reaching effect of housing wealth inequality. Given the significant impact of housing wealth distribution on housing satisfaction, and ultimately people’s general wellbeing, it is important to tackle inequality in housing markets.