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Exploring the Intersection of Sociology and Philosophy in Sustainable Economic Practices
Full text linkJust as interdisciplinary sociologists have identified social constructs of efficient market practices, sociologist-philosophers have drawn on classical and contemporary philosophical perspectives in theorizing the morally appropriate boundaries on economic conduct. Through a shared concern with distributive justice, fairness, class relations, the commodification of labor, the role of the state, and the mutual determination of social structure and individual moral character, the sociologist-philosophers selected here have developed normative models of sustainable economic structures that mimic sociologist-inspired characterizations of efficient economic structures
Robust Parameter Estimation for Financial Data Simulation
Full text linkFinancial market data are known to be far from normal and replete with outliers, i.e., “dirty” data that contain errors. Data errors introduce extreme or aberrant data points that can significantly distort parameter estimation results. This paper proposes a robust estimation approach to achieve stable and accurate results. The robust estimation approach is particularly applicable for financial data that often features the three situations we are protecting against: occasional rogue values (outliers), small errors and underlying non-normality
Fuel diversification among firms and common ownership
Full text linkWe develop a duopoly model that incorporates fuel diversification, resulting in ex post cost asymmetry between firms. We theoretically examine how common ownership influences welfare. Our findings indicate that welfare decreases (increases) with the degree of common ownership when ex post cost heterogeneity due to fuel diversification is small (large). Furthermore, we identify a potential U-shaped relationship between the degree of common ownership and welfare, an insight not previously documented in the literature.
In addition, we demonstrate that common ownership promotes fuel diversification, which may further enhance welfare
To Bubble or Not to Bubble: Asset Price Dynamics and Optimality in OLG Economies
Full text linkWe study an overlapping generations (OLG) exchange economy with an asset that yields dividends. First, we derive general conditions, based on exogenous parameters, that give rise to three distinct scenarios: (1) only bubbleless equilibria exist, (2) a bubbleless equilibrium coexists with a continuum of bubbly equilibria, and (3) all equilibria are bubbly. Under stationary endowments and standard assumptions, we provide a complete characterization of the equilibrium set and the associated asset price dynamics. In this setting, a bubbly equilibrium exists if and only if the interest rate in the economy without the asset is strictly lower than the population growth rate and the sum of per capita dividends is finite. Second, we establish necessary and sufficient conditions for Pareto optimality. Finally, we investigate the relationship between asset price behaviors and the optimality of equilibria
Value relevance of Accounting informational; Evidence from Nigeria Quoted firms
Full text linkThis study examined the value relevance of accounting information in Nigerian firms. The study specifically examined the relationship between share price (MSP) and four accounting variables, earnings per share (EPS), dividends per share (DPS), operating cashflows (OCF) and book value per share (BVPS).
To achieve the objectives of this research, an ex-post facto research design was employed in the study, secondary data was retrieved from the financial statements of 20 nonfinancial service companies listed on the Nigerian Exchange group (NGX) for a period of 11 years spanning from 2013-2023.The ordinary least squares regression method (OLS) was adopted to make the statistical decisions.
The findings of the research reveal that there is a significant positive relationship between the dependent variable, share price (MSP) and some of the independent variables namely, earnings per share (EPS), dividends per share (DPS), operating cashflows (OCF). However, there was no significant relationship between share price and book value per share (BVPS). The study concludes that accounting variables namely, EPS, DPS and OCF have significant impact on the share price of Nigerian firms. The study recommends that Nigerian firms should prioritize transparent and accurate financial reporting, with a specific emphasis on earnings, dividends, and operational cash flow
The Effects of Sports Activities on Time Preferences and Risk Aversion
Full text linkThis paper investigates whether sports experience changes adolescents’ preferences. For this purpose, we conducted a survey of Japanese university students about their sports experiences, time preferences, and risk aversion. Our regression analysis shows that students’ sports experience does not significantly change their time preferences or risk aversion. This result implies that although students devote a lot of time to sports in Japan, sports still do not have a significant impact on students’ attitudes towards time and risk
Saúde e bem-estar da população em Portugal: Um contributo à luz da Economia da Saúde
Full text linkThe level of well-being of a society, via the individuals that comprise it, obviously depends on their state of health. Thus, some well-being indicators/indices include health indicators/indices in their calculation. In fact, these well-being and health indexes must be complemented with others, of obvious relevance to the matter. This being the (main) objective of this work, the data corresponding to Portugal are analyzed: i) in the area of well-being, the indicators of happiness, satisfaction with life and, ii) in the area of health, the indicators of global burden of diseases, healthy life expectancy and self-perceived health status. This allows us to (better) understand the relationship between health and well-being in Portugal over the last few years
The Relationship between the Modified Golden Rule in the Ramsey Model and the Equilibrium Solutions in the Overlapping Generations Model
Full text linkThis paper demonstrates that the modified golden-rule level of capital stock derived in the Ramsey model can also be obtained within the overlapping generations model. While the standard overlapping generations model typically addresses a two-period optimization problem and involves dynamic inefficiency, the introduction of a bequest motive allows the equilibrium to coincide with that of the Ramsey model under certain conditions. This indicates that, despite differing motivations for leaving wealth, the solutions of the two models can converge
Environmental Complexity and Respiratory Health: A Data-Driven Exploration Across European Regions
Full text linkThis paper examines the environmental and infrastructure determinants of respiratory disease mortality (TRD) across European nation-states through an original combination of econometric, machine learning, clustering, and network-based approaches. The primary scientific inquiry is how structural environmental variables, such as land use, energy mix, sanitation, and climatic stress, co-interact to affect respiratory mortality across regions. Although prior literature has addressed individual environmental predictors in singleton settings, this paper fills an integral gap by using a multi-method, systems-level analysis that accounts for interdependencies as well as contextual variability. The statistical analysis draws on panel data covering several years and nation-states using fixed effects regressions with robust standard errors for evaluating the effects of variables such as agricultural land use (AGRL), access to electricity (ELEC), renewable energy (RENE), freshwater withdrawals (WTRW), cooling degree days (CDD), and sanitation (SANS). We employ cluster analysis and density-based methodology to identify spatial and environmental groupings, while machine learning regressions—specifically, K-Nearest Neighbors (KNN)—are utilized for predictive modeling and evaluating feature importance. Lastly, network analysis identifies the structural connections between variables, including influence metrics and directional weights. We obtain the following results: Consistently, across all regressions, AGRL, WTRW, and SANS feature importantly when determining the effect for TRD. Consistently across all networks, influencer metrics identify AGRL, WTRW, and SANS as key influencers. Consistently across all models, the best-performing predictive regression identifies the nonlinear (polynomial or non-monotone), context-sensitive nature of the effects. Consistent with the network results, the influencer metrics suggest strong connections between variables, with a particular emphasis on the importance of holistic environmental health approaches. Combining the disparate yet complementary methodological tools, the paper provides robust, understandable, yet policy-relevant insights into the environmental complexity driving respiratory health outcomes across Europe
From Technology Adoption to Strategic Coherence: The Role of Digitalization in Industrial Growth in Developing Countries
Full text linkDigitalization has emerged as a transformative force in modern industrial development, reshaping operational models, innovation practices, and competitive structures. This study investigates the impact of digitalization on the financial performance of industrial growth. Drawing on the resource-based view, dynamic capabilities theory, and transaction cost economics, the study develops a comprehensive framework linking digital strategy alignment, digital capabilities, technology adoption, innovation culture, and external support to industrial financial performance. Using panel data regression analysis on industrial firms, the results reveal that digital strategy alignment consistently exerts the strongest positive influence across measures of return on equity, return on assets, and asset turnover. Digital technology adoption and innovation culture show mixed effects, enhancing equity returns and operational efficiency while imposing short-term costs on asset-based performance. Digital capabilities display both transitional inefficiencies and long-term benefits, while external support emerges as statistically insignificant. These findings emphasize that the financial gains of digitalization are contingent on strategic coherence, organizational readiness, and cultural transformation rather than on technology adoption alone. The study contributes to both theory and practice by highlighting that firms must view digitalization as a holistic transformation process to overcome short-term paradoxes and achieve sustainable growth, while policymakers should focus on creating supportive ecosystems that strengthen firm-level capacities