Board Networks and Corporate Innovation

2020 ◽  
Author(s):  
Ching-Hung Chang ◽  
Qingqing Wu
Keyword(s):  
Agency Problems ◽  
Positive Relation ◽  
Cross Sectional ◽  
External Finance ◽  
Innovation Activities ◽  
Corporate Innovation ◽  
Empirical Tests ◽  
Director Characteristics ◽  
Positive Effect ◽  
Board Networks

This paper studies whether board connectedness affects corporate innovation. We find that well-connected boards have a positive effect on innovation activities and quality. The effect is stronger when firms have higher demand for advising or face more severe agency problems. Firms with greater needs for external finance benefit more from board connections with bankers. We show that the positive relation is causal and robust based on a battery of empirical tests including exogenous variation in board connectedness resulting from death and retirement of directors and from a regulatory shock under new exchange listing rules. Evidence indicates that types and relatedness of connections as well as director characteristics contribute to cross-sectional heterogeneity of the positive effect. This paper was accepted by Gustavo Manso, finance.

Do Antitakeover Provisions Spur Corporate Innovation? A Regression Discontinuity Analysis

2018 ◽  
Vol 53 (3) ◽  
pp. 1163-1194 ◽  
Author(s):  
Thomas J. Chemmanur ◽  
Xuan Tian
Keyword(s):  
Information Asymmetry ◽  
Firm Value ◽  
Regression Discontinuity ◽  
Causal Effect ◽  
Equity Markets ◽  
Short Term ◽  
Innovation Activities ◽  
Corporate Innovation ◽  
Positive Effect ◽  
Competitive Product

We study the effect of antitakeover provisions (ATPs) on innovation. To establish causality, we use a regression discontinuity approach that relies on locally exogenous variation generated by shareholder proposal votes. We find a positive, causal effect of ATPs on innovation. This positive effect is more pronounced in firms that are subject to a larger degree of information asymmetry and operate in more competitive product markets. The evidence suggests that ATPs help nurture innovation by insulating managers from short-term pressures arising from equity markets. Finally, the number of ATPs contributes positively to firm value for firms involved in intensive innovation activities.

scholarly journals Dealing with Student Errors in Whole-Class Discussions of Biology Lessons at German Secondary Schools

2021 ◽  
Author(s):  
Lena von Kotzebue ◽  
Christian Förtsch ◽  
Sonja Förtsch ◽  
Birgit J. Neuhaus
Keyword(s):  
Student Achievement ◽  
Secondary Schools ◽  
Central Feature ◽  
Quality Teachers ◽  
Cross Sectional ◽  
Class Level ◽  
Biology Instruction ◽  
Student Errors ◽  
Cross Sectional Design ◽  
Positive Effect

AbstractDealing with student errors is a central feature of instructional quality. Teachers’ reactions to a student’s error and classmates’ errors can be crucial to the success of a lesson. A teacher should respond appropriately in terms of motivational and learning-related issues so that the error can become a learning opportunity for students. Currently, error situations have rarely been directly recorded and explored in empirical zstudies. This gap is the central focus of the current study in which we investigated errors in biology instruction within a cross-sectional design where biology lessons in German secondary schools were videotaped, teachers’ dealings with errors analyzed, and student achievement documented with pretests and posttests. The study found that constructively dealing with student errors had a significant positive effect on student achievement at the class level. Results confirmed the relevance of teachers’ appropriate dealing with student errors on learning in biology instruction.

scholarly journals Measures of Bioavailable Serum Testosterone and Estradiol and Their Relationships with Muscle Strength, Bone Density, and Body Composition in Elderly Men*

2000 ◽  
Vol 85 (9) ◽  
pp. 3276-3282 ◽  
Author(s):  
Annewieke W. van den Beld ◽  
Frank H. de Jong ◽  
Diederick E. Grobbee ◽  
Huibert A. P. Pols ◽  
Steven W. J. Lamberts
Keyword(s):  
Body Composition ◽  
Muscle Strength ◽  
Fat Mass ◽  
Cross Sectional Study ◽  
Positive Relation ◽  
Elderly Men ◽  
Cross Sectional ◽  
Healthy Elderly ◽  
Hip Bmd ◽  
Best Parameter

Abstract In the present cross-sectional study of 403 independently living elderly men, we tested the hypothesis that the decreases in bone mass, body composition, and muscle strength with age are related to the fall in circulating endogenous testosterone (T) and estrogen concentrations. We compared various measures of the level of bioactive androgen and estrogen to which tissues are exposed. After exclusion of subjects with severe mobility problems and signs of dementia, 403 healthy men (age, 73–94 yr) were randomly selected from a population-based sample. Total T (TT), free T (FT), estrone (E1), estradiol (E2), and sex hormone-binding globulin (SHBG) were determined by RIA. Levels of non-SHBG-bound T (non-SHBG-T), FT (calc-FT), the TT/SHBG ratio, non-SHBG-bound E2, and free E2 were calculated. Physical characteristics of aging included muscle strength measured using dynamometry, total body bone mineral density (BMD), hip BMD, and body composition, including lean mass and fat mass, measured by dual-energy x-ray absorptiometry. In this population of healthy elderly men, calc-FT, non-SHBG-T, E1, and E2 (total, free, and non-SHBG bound) decreased significantly with age. T (total and non-SHBG-T) was positively related with muscle strength and total body BMD (for non-SHBG-T, respectively, β = 1.93 ± 0.52, P < 0.001 and β = 0.011 ± 0.002, P < 0.001). An inverse association existed between T and fat mass (β = −0.53 ± 0.15, P < 0.001). Non-SHBG-T and calc-FT were more strongly related to muscle strength, BMD, and fat mass than TT and were also significantly related to hip BMD. E1 and E2 were both positively, independently associated with BMD (for E2, β = 0.21 ± 0.08, P < 0.01). Non-SHBG-bound E2 was slightly strongly related to BMD than total E2. The positive relation between T and BMD was independent of E2. E1 and E2 were not related with muscle strength or body composition. In summary, bioavailable T, E1, total E2, and bioavailable E2 all decrease with age in healthy old men. In this cross-sectional study in healthy elderly men, non-SHBG-bound T seems to be the best parameter for serum levels of bioactive T, which seems to play a direct role in the various physiological changes that occur during aging. A positive relation with muscle strength and BMD and a negative relation with fat mass was found. In addition, both serum E1 and E2 seem to play a role in the age-related bone loss in elderly men, although the cross-sectional nature of the study precludes a definitive conclusion. Non-SHBG-bound E2 seems to be the best parameter of serum bioactive E2 in describing its positive relation with BMD.

Intention to adopt cryptocurrency: a robust contribution of trust and the theory of planned behavior

2022 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Bahadur Ali Soomro ◽  
Naimatullah Shah ◽  
Nadia A. Abdelmegeed Abdelwahed
Keyword(s):  
Theory Of Planned Behavior ◽  
Planned Behavior ◽  
Online Survey ◽  
Behavioral Control ◽  
Perceived Behavioral Control ◽  
Cross Sectional ◽  
Content Type ◽  
Intention To Adopt ◽  
Positive Effect ◽  
Practical Implications

PurposeAt present, the adoption of cryptocurrency investment has brought consideration to the globe. The present paper attempts to investigate the intention to adopt cryptocurrency (IACR) among the potential investors of Pakistan.Design/methodology/approachThe theory of planned behavior (TPB) is applied to underpin the conceptual framework. The study uses a quantitative approach. The study collects cross-sectional data through an online survey questionnaire. In the last, the authors utilized 334 samples for outcomes.FindingsFindings of the SEM reveal a significant positive effect of attitude, subjective norms (SNs), perceived behavioral control (PBC) and trust on IACR.Practical implicationsThe outcomes of an investigation would develop further intention and trust towards cryptocurrency adoption. The results would support developing favorable policies regarding the reduction of the ban on cryptocurrency in Pakistan to make easier transactions of the investors further. Possibly, it brings several opportunities in all segments of society in making the digital transaction modes through cryptocurrency. Finally, the findings would further validate the TPB in the context of cryptocurrency.Originality/valueThe study provides a better understanding of cryptocurrency and investors IACR. The empirical evidence further develops the other individuals' intentions towards cryptocurrency usage.

New Estimates of the Effect of Marijuana and Cocaine Use on Wages

ILR Review ◽  
1994 ◽  
Vol 47 (3) ◽  
pp. 454-470 ◽  
Author(s):  
Robert Kaestner
Keyword(s):  
Drug Use ◽  
Illicit Drug ◽  
Unobserved Heterogeneity ◽  
Illicit Drug Use ◽  
Longitudinal Survey ◽  
National Longitudinal Survey ◽  
Cross Sectional ◽  
Cocaine Use ◽  
Wage Effects ◽  
Positive Effect

Using the 1984 and 1988 waves of the National Longitudinal Survey of Youth, this study provides an update of several previous cross-sectional estimates of the effect of illicit drug use on wages, as well as the first longitudinal estimates of that effect. The cross-sectional results, which are generally consistent with the surprising findings of previous research, suggest that illicit drug use has a large, positive effect on wages. The longitudinal estimates, which control for unobserved heterogeneity in the sample, are mixed: among men, the estimated wage effects of both marijuana and cocaine use are negative, but among women, the effect of cocaine use remains positive and large. Because the longitudinal model is imprecisely estimated, however, those results are inconclusive.

scholarly journals Comparison of the Significance of Clusters for Increasing Business Performance

2020 ◽  
Vol 12 (3) ◽  
pp. 172-189
Author(s):  
Eva Stichhauerova ◽  
Miroslav Zizka ◽  
Natalie Pelloneova
Keyword(s):  
Business Performance ◽  
Data Envelopment ◽  
Company Performance ◽  
Positive Relation ◽  
The Czech Republic ◽  
Cluster Membership ◽  
Cluster Group ◽  
The Impact ◽  
The Given ◽  
Positive Effect

This article focuses on the impact of clusters on performance in five selected industries. Focused on increasing the competitiveness of regions and enterprises, clusters are currently considered one of the most essential tools of industrial policy. This includes the Czech Republic, where cluster initiatives have been systematically supported since 2004 by operational programmes. The goal of this research was to determine whether cluster organizations have a positive effect on the performance of their member enterprises in various industries. Another goal was to verify the relation between the financial and innovative performance of the member enterprises. The research was carried out on a sample of five clusters in the automotive, IT, furnituremanufacturing, packaging and machinery industries, with Data Envelopment Analysis used for this performance evaluation. The enterprises were divided into three groups: companies that are members of cluster organizations, companies that are active in the same region and industry but are not members of a cluster group, and companies from the respective industry that operate outside the region of the given cluster. The results of the study indicate that in four industries (automotive, IT, packaging, machinery), member companies of cluster organizations achieve better results than non-members or firms active in other regions. On the other hand, it was not possible to prove a positive relation between company performance and their registered industrial rights, neither from the perspective of cluster membership nor their activity in the respective industry and region.

scholarly journals Be Green to Be Innovative: The Role of Government Subsidies

2021 ◽  
Vol 9 ◽  
Author(s):  
Yingbo Xu ◽  
Wei Liu ◽  
Ruihui Pu ◽  
Yonghui Xu
Keyword(s):  
Environmental Protection ◽  
Industrial Firms ◽  
Role Of Government ◽  
Market Strategy ◽  
Institutional Legitimacy ◽  
Government Subsidies ◽  
Environmental Investment ◽  
Innovation Activities ◽  
Corporate Innovation

Corporate environmental investment has long been recognized as a non-market strategy that helps secure both economic and social benefits. However, we know much less about how environmental investment affects corporate innovation. We argue that investment in environmental protection is an important source of institutional legitimacy for firms to secure government resources, thus providing financial support for corporate innovation activities. Using a sample of Chinese industrial firms, we find that firms investing more in environmental protection can receive more government subsidies and then have better innovation performance. This study emphasizes the mechanism of government resources, which enriches our understanding of the effect of environmental investment on corporate innovation.

scholarly journals Assessment of the Consistency of Tetabulin Injection to the Patients with an Open Fracture Referred to the Khatamolanbia Hospital, Zahedan in 2017 with the National Guidelines

2020 ◽  
Vol 10 (1) ◽  
pp. 148
Author(s):  
Mohammad Sedaghat ◽  
Alireza Dashipour ◽  
Mahtab Masood
Keyword(s):  
Open Fracture ◽  
Pearson Correlation ◽  
Open Fractures ◽  
Risk Of Infection ◽  
National Guidelines ◽  
Clostridium Tetani ◽  
Chi Square ◽  
Cross Sectional ◽  
Age Range ◽  
Positive Effect

Background and Goal: Open fractures are at risk of infection with Clostridium tetani and severe traumatic infections. Tetabulin injection is strongly recommended for the patients with an open fracture and severe wounds. The goal of this study is to assess the consistency of tetabulin injection to the patients with an open fracture referred to the Khatamolanbia hospital in Zahedan in 2017 with the national guidelines. Materials and Methods: This study is a cross-sectional descriptive study. 300 patients with an open fracture referred to the ER of the Khatamolanbia Hospital in Zahedan in 2017 were selected as the sample. Their fracture type and severity were assessed. The data were classified in the tables and statistically analyzed using Chi-square, pared t-test, Pearson correlation, and regression in SPSS 26. Findings: Among 300 patients, 275 patients (91.7%) were male and 25 patients (8.3%) were female. The most frequent age range was 20 to 30 years old (31.7%), and the least frequent ones were 5 to 10 years old (10%) and more than 50 years old (11.6%). The results showed that gender has no significant effect on the predictability of the need of tetabulin injection for the patients with open fractures (P=0.780). However, age has a significant positive effect on the predictability of the need of tetabulin injection for the patients with open fractures; as the age increases, the need for tetabulin injection also increases, and it must be injected in the 50 years and older patients (P=0.05). Conclusion: The results showed that age was effective on the decrease of the serum level of anti-tetanus antibody, however, gender had no significant effect on it. Therefore, it is concluded that tetabulin injection for open fractures is consistent with the national guideline.

scholarly journals Disgust as an emotional driver of vaccine attitudes and uptake? A mediation analysis

2019 ◽  
Vol 147 ◽  
Author(s):  
P. M. Luz ◽  
H. E. Brown ◽  
C. J. Struchiner
Keyword(s):  
Mediation Analysis ◽  
Cross Sectional Study ◽  
Vaccine Uptake ◽  
Disgust Sensitivity ◽  
Cross Sectional ◽  
Perceived Susceptibility ◽  
Psychological Determinants ◽  
Negative Effect ◽  
The Usa ◽  
Positive Effect

AbstractResearch on the drivers of vaccine acceptance has expanded but most interventions fall short of coverage targets. We explored whether vaccine uptake is driven directly or indirectly by disgust with attitudes towards vaccines acting as a possible mediator. An online cross-sectional study of 1007 adults of the USA via Amazon's Mechanical Turk was conducted in January 2017. The questionnaire consisted of four sections: (1) items assessing attitudes towards vaccines and vaccine uptake, (2) revised Disgust Scale (DS-R) to measure Disgust Sensitivity, (3) Perceived Vulnerability to Disease scale (PVD) to measure Germ Aversion and Perceived Susceptibility, and (4) socio-demographic information. Using mediation analysis, we assess the direct, the indirect (through Vaccine Attitudes) and the total effect of Disgust Sensitivity, Germ Aversion and Perceived Susceptibility on 2016 self-reported flu vaccine uptake. Mediation analysis showed the effect of Disgust Sensitivity and Germ Aversion on vaccine uptake to be twofold: a direct positive effect on vaccine uptake and an indirect negative effect through Vaccine Attitudes. In contrast, Perceived Susceptibility was found to have only a direct positive effect on vaccine uptake. Nonetheless, these effects were attenuated and small compared to economic, logistic and psychological determinants of vaccine uptake.

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