In this paper, we consider anti-smoking policy in Russia and the socioeconomic factors that influence an individual’s decision to smoke. Among various factors, we investigate the individual time preferences of Russians. To estimate individual time preferences, we use an experiment in which survey respondents are given hypothetical money prizes. We find that being middle-aged, being unmarried and having parents who smoke are positively correlated with both men and women’s likelihood of taking up smoking in Russia. We consider the possible endogeneity of an individual’s health status and find a positive relationship between smoking and the time preferences of Russians. Our findings confirm that decisionmakers should devote their efforts primarily to developing restrictive anti-smoking policy. The choice of policy measures should be guided by the individual characteristics of target population groups. Social advertising, public lectures and preventive care should be actively engaged in forming public attitudes towards smoking.
In this research we analyze the demand for performing arts. Since the observed demand is limited by the capacity of house, one needs to account for demand censorship. The presence of consumer segments with different purposes of going to the theatre and willingness-to-pay for performance and ticket characteristics compels to account for heterogeneity in theatre demand. In this paper we propose an estimator for prediction of demand that accounts for both demand censorship and preferences heterogeneity. The estimator is based on the idea of classification and regression trees and bagging prediction aggregation. We extend the algorithm for censored data prediction problem. Our algorithm predicts and combines predictions from both discrete and continuous parts of censored data. We show that the estimator is better in prediction accuracy compared with estimators which account for censorship or heterogeneity of preferences only.
The aim of this paper is to study the influence of chief executive officers' overconfidence on corporate research and development (R&D). We analyze a sample of 766 firms from the United Kingdom, France, Germany, Switzerland, Italy, Spain, and the Netherlands between 2008 and 2013. We use 3 measures of managerial overconfidence: the press coverage of chief executive officers, his/her age, and his/her experience in the industry. Our results show that the firms run by overconfident managers actually invest more in R&D expenditures, even after controlling for country, industry, and time factors. Overconfident managers not only spend more on R&D but also amplify the effect of financial determinants of R&D such as firm liquidity or profitability. Nevertheless, overconfident managers do not invest efficiently in R&D, and these expenditures can negatively affect the value of the firm.
Purpose – The purpose of this paper is to analyse the demand for tickets in the Brazilian State Championships focussing in the impact generated by the brand teams as well as the play-off matches in the demand for tickets and, consequently, in the match day revenues. Design/methodology/approach – An equations system by three-stage least square estimator is employed. The data set comprises 1,114 matches from Mineiro, Carioca and Paulista Championships over the seasons 2013-2015. Findings – All explanatory variables increase both attendance and match day revenues. However, the most important goal is the distribution of wealth found. The presence of brand teams in those championships provides a financial aid for smaller teams. Practical implications – The proposals from the mass media to exclude the brand teams and design those championships exclusively in play-off stages should not be implemented by the policymakers. On the contrary, rearranging the design of the competition with more matches between small teams and brand teams may help to all of them. Originality/value – The paper contributes to introduce the Brazilian State Championships in the sport economics literature as well as evidences the redistribution effect of wealth among clubs.
Russian foreign policy in Central and Eastern Europe in the post-Cold war period followed the track of the evolution of its general foreign policy strategy. After the Second World War countries of Central and Eastern Europe were either Soviet republics or fell under the sphere of interests of the USSR. The following dissolution of the socialist bloc and the Soviet Union itself resulted in fundamental geopolitical changes in the region, erasing the solid military and political frontier that divided Europe on the borders of the GDR, Czechoslovakia and Hungary. New states took shape out of what was left of former socialist republics. The region became split and uneven politically. Moscow itself was no longer a political center for Central and Eastern Europe. It became the capital of a remote state that had no common borders with most of the Eastern European countries. Russia-NATO relations that used to be the basis of the continental politics lost their sense of certainty, having opened up room for experiments. Russia faced the challenge of shaping its foreign policy afresh, taking into consideration the changing environment on its western border. The geopolitical configuration of Central and Eastern Europe is what makes this region especially important for Russian foreign policy. Its intermediate position in between Russia and the Euro-Atlantic makes it an arena for either cooperation or rivalry between the two power centers on the continent. Metaphorically put, this region may serve as a bridge over the chasm between Russia and NATO, or it may become a battlefield for the two. Apart from security concerns, there is also a factor of gas and oil transit via this territory, which explains Moscow’s interest to ensure the safety of energy supply through Eastern to Western Europe, where its end consumers are. Scholars of Russian foreign policy in Central and Eastern Europe largely disagree on its motives and goals. The key disagreement is between two approaches. One group of scholars argues that Russian policy inherently aims for expansion encouraged by imperial complexes (McFaul, 1998; Sherr, 2013; Umland, 2016) or ethnic and nationalist impulses (Rutland, 2014; Zevelev, 2014; Motyl, 2016). The other group believes that Moscow’s primary concern is to ensure its national security and protect its values (Bogaturov, 2007; Mearsheimer, 2014; Tsygankov, 2015; Graham, 2017). Academic debates on issues of Russian foreign policy today are overly politicized. It is not clear how soon the academic sphere will break free from the extremes of the emotional load that is caused by the major conflict between Russia and the West over Ukraine.
The article examines how identity is represented through space in Anglo-Irish literature of the Troubles in the context of public multimodal public discourse. The paper addresses the structure and the functions of the space in Anglo-Irish novels of the Troubles within the framework of visual and verbal identity. It also focuses on verbal and visual ways of identification of the place in divided society as represented in Anglo-Irish literature. The analysis of the novels demonstrated that place identity is represented in the novels and function there as a recognizable landscape marker creating a historical background of the novels. It also performs several communicative functions. Visual and verbal identity represent community solidarity and unification. In case of identity cognition of the other community representative they are seen as a an indicator of a potential threat. A more detailed view of four Troubles novels gives a picture of how place is conceptualized as an integral part of national identity.
This study is a corpus-based examination of denominal verbs with figurative meanings in the texts of the British business broadsheet The Financial Times. Based on the study of word-formation as the source of metaphoricity (Steen et al., 2010; Janda, 2011, 2014; Brdar & Brdar-Szabó, 2013) and propositional analysis (Pankrats, 1992; Steen, 2002), it presents the classification of such verbs and discusses how and why denominal verbs with metaphorical meanings were used in the journalistic discourse about business. The empirical base of this study was a 621-thousand-word corpus of the Financial Times articles from the years 2014-2015. The authors conclude that the commonness of denominal verbs is due to the conceptual and evaluative functions of metaphor. There is consideration of the implications of these findings for linguists, translators, ESP students and those interested in corpus research into metaphor.
This study provides readers with new information about key drivers of performance in the emerging area of eSports. Competitive computer gaming (eSports) is becoming increasingly popular, and the number of gamers and amount of prize money is growing. We therefore explore some key country-level characteristics that may contribute to players’ success, measured as money won. We use gamers’ prize earnings aggregated by country and a hurdle model to understand the determinants of performance. The results show that a 1% increase in GDP per capita leads to a 2.2% increase in prize money per capita. Country population is not statistically significant in the outcome model. This finding may indicate that eSports talents are not uniformly distributed across the world population. Surprisingly, post-Soviet and planned or post-planned economies are more likely to participate in eSports.
Representing ‘The Irish national self’ in Anglo-Irish literature of the Troubles is one of the key topics, which is inseparable from British national identity since these communities are intermingled in Northern Ireland and compete for space and political dominance. Little attention of critics was paid to the analysis of linguistic means of constructing national identity. This paper examines how national identity is formed in literary discourse within the framework of discourse analysis in the Troubles novels. I suggest that in the novels considered national identity manifests itself through a purposeful choice of discourse strategies (construction, destruction and justification) and language means. Conceptualizing both identities is based on conceptualizing space and religious identity but what makes them distinctive is narrating political history. Irish national identity, as represented in the Troubles novels, is based on the idea of victimization and trauma memorization, while British national identity relies heavily on mythologizing historical victory. Both identities are constructed in binary oppositions to a conflicting community and are mostly negative.
People are intent to make similar choices especially in consumer goods markets. To address both explanations of this persistence, i.e. state dependence and heterogeneity in preferences, we use random coefficient logit model based on scanner panel data on juice purchases. The product differentiation of the chosen category allows us to model three dimensions of state dependence on brand, size and flavor characteristics. We provide evidence that the persistence in brand choices is positively correlated with persistence in size and flavor choices, thus the consumer pattern is prone to be inertial or variety seeking in every product characteristics. Simultaneously we show that the more sensitive to price and promotional activities consumers are, the less inertial is their behavior.
It has been shown how static and dynamic characteristics could be used for a comparative assessment of social, environmental, and economic development, as well as the development balance in social, economic, and ecological spheres. The proposed methodological toolkit has made it possible to identify problem areas and stably manifested dynamic disproportions in the investigated regions, which require corrective actions in order to ensure sustainable development
With an increased interest in machine processable data and with the progress of semantic technologies, many datasets are now published in the form of RDF triples for constituting the so-called Web of Data. Data can be queried using SPARQL but there are still needs for integrating, classifying and exploring the data for data analysis and knowledge discovery purposes. This research work proposes a new approach based on Formal Concept Analysis and Pattern Structures for building a pattern concept lattice from a set of RDF triples. This lattice can be used for data exploration and in particular visualized thanks to an adapted tool. The specific pattern structure introduced for RDF data allows to make a bridge with other studies on the use of structured attribute sets when building concept lattices. Our approach is experimentally validated on the classification of RDF data showing the efficiency of the underlying algorithms.
Purpose - The purpose of this paper is to examine the relationship between export activity and firm performance for a positive impact of foreign direct investments. We also analyse two possible causes of the effect: technology transfer and financial support. The theoretical background is rooted in the resource-based approach taking into account multinational companies’ perspective and the specifics of emerging markets. Design/methodology/approach - We propose testable hypotheses based on a review of the theory. To test the hypotheses, we build a sample of over 500 Russian public manufacturing firms covering the period from 2004 to 2014 and estimate regression models. Given concerns about endogeneity, the instrumental variable approach for panel data, using GMM-estimator, is implemented. Findings - Consistent with the view that foreign direct investments generate spillover effects, our results support the positive impact of foreign ownership on the link between exports and firms’ performance. Our results underline the importance of foreign ownership: shareholders from developed countries can provide benefits to exporting companies through transferring advanced technologies and loosening financial constraints by lowering interest and raising availability of bank loans.
Originality/value - We provide new insights on the relationship between exports and firm performance. Given our focus on Russia, a market with high potential to draw foreign investments, our research sheds some light on how emerging country firms can benefit from having foreign shareholders with paying attention to geographical distribution of such investments. Specifically, through the overcoming of technological barriers and loosening of financial constraints, we show empirically that foreign capital can make up for weak local institutional infrastructure and enhance the company’s’ returns from internationalization.
The use of hedges has been an important topic in academic writing research. Much of this research has focused on L1 academic texts. This study investigates the use of the most frequent hedging devices in the corpus of 58 works written by Russian university students and compares it to the corpus of articles published in peer-reviewed journals in business and management. The analysis of learner corpus data and further comparison provided by the reference corpus have highlighted a number of problems which non-native learners experience when writing academic texts, e.g., phraseological infelicities and stylistic inappropriacies. Some teaching materials presented in the paper aim at helping teachers to deal with the problems identified. This study has important implications for creating EAP courses, research of second language acquisition, and writing pedagogy.
The article gives the analysis of practice of the latest appointments of Duma and Muscovite ranks in Russia in the end XVIIth and early XVIIIth centuries. The author studies the first Peter’s the Great rank system reforms in the context of social and political events. The research reveals biographies those people who had high ranks, it also names the last honorees having moscow ranks and gives details of their ranks granting. The analysis showed the significance of promotion in Muscovite ranks as the way of communication between supreme power and service elite. The attention is drawn to the fact that rank granting was limited to function as honours for service. Finally, it is underlined that duma and Muscovite ranks had been in active use among courtiers and officials inspite of the “Table of ranks”.
This paper investigates how the recent crisis of 2008 changed relations between innovation and firm performance in Western Europe. We apply a structural framework of CDM modelling, which incorporates different stages of the knowledge creation process and takes into account the complex nature of innovations. The study is based on a balanced panel data of 420 listed manufacturing firms from the U.K., Germany and France. All the information is gathered from common sources, thereby reducing subjectivity, a typical problem in the field. We found, the crisis resulted in appreciable changes in the model. The most important evidence is enhancement of the role of firm resources in the post-recession period. We also reveal larger barriers for innovations, increased uncertainty and lower state dependence in R&D engagement, product creation and economic performance. These results could indicate the ‘cleaning effect’ of the crisis, which has worsened the business environment and enhanced competition.
This article explores consumers` acceptance and willingness to pay for genetically modified potatoes in Tajikistan. A binary-choice contingent valuation metholdolgy is applied as a primary research tool. Results indicate that more than half of respondents are not aware of this particular product. Yet, majority of consumers expressed their positive or neutral opinion. Findings highlight the relevance and possibility to introduce and market nonconventional potatoes in a Central Asian market of Tajkistan.
Abstract Purpose – This paper aims to analyse the location as root of the specificity of the sources of competitiveness in subsistence small businesses (SSBs) of wood industry to improve the situation of poverty and the different behaviour of subsistence entrepreneurs. Design/methodology/approach – The research uses an exploratory analysis based on principal components in two phases and confirmatory analysis based on partial least square techniques applied to a sample of 113 small and medium enterprises of wood industry in Oberá, a region of Argentina. Findings – The analysis evidences the use of competitiveness sources of SSBs and a double behaviour in SSBs according to subsistence threshold. Satisfactory SSBs use competitiveness sources to improve organizational and economic performance. Unsatisfactory SSBs find economic performance without relation to organizational performance. Research limitations/implications – Data are cross-sectional, and in a conjuncture of economy expansion, future research should monitor the sample of firms using panel data to assess the development of relations. Sample is in a particular region and sector, and generalizations should be done carefully. Practical implications – SSBs should raise the strategy integrating short and long term, which requires a strengthening of intellectual capital, especially in cooperation, professionalism and training. They could integrate and share a business community to develop competitive advantages of collective systemic. Originality/value – The research shows the importance of the location for the competitiveness of SSBs and provides a classification of SSBs according to their performance.
Small businesses created as a way of subsisting are very important in Latin America in alleviating extreme poverty. These businesses possibly need to innovate to compete. Innovativeness is strongly linked with intellectual capital, but the limitations of subsistence small businesses weaken this link. In particular, human capital possibly affects innovativeness, but the effect can be mediated or moderated by other components of intellectual capital. This paper uses partial least squares to study the impact of the different dimensions of intellectual capital on innovativeness as a dynamic capability in small businesses in the timber industry in an area of Latin America, and, in particular, the mediation effect among them. The results show that human capital generates relational capital. The relational capital needs structural capital to improve the innovativeness of subsistence small businesses.
According to behavioral economics, coaches may be unconsciously biased, and this could lead to deviations from rational behavior, which in turn affects team performance. We analyze the influence of a particular behavioral bias of coaches, overconfidence, on the performance of soccer teams. We use a sample of 63 coaches managing all the soccer clubs involved in the Russian Football Premier League during the four seasons between 2010 and 2013/2014. To measure overconfidence, we use a press-based metric that is generally accepted in corporate governance studies and complement it with an additional continuous measure. Coaches' overconfidence positively and significantly influences team average scores, both in the baseline regression and robustness checks. Additional testing allows us to draw conclusions regarding the inverse U-shaped relationship between overconfidence and performance. We cannot conclude that overconfidence has any effect on coaches' risk-taking that can be approximated by goals scored or allowed. We apply the well-studied methodology of overconfidence measurement to the new field of sport economics, thereby generating novel results. Although overconfidence is perceived negatively in corporate governance, we show that in sport, it is beneficial to be overconfident. The findings contribute to sport literature, more specifically to the field of performance in soccer, with results that support the importance of a coach's personal traits.