1,720,995 research outputs found
The effect of multinationality and management entrenchment on debt conservatism and zero-leverage phenomena, investigating the profile of north american firms adopting extreme conservative leverage conditions
Full text linkThis research is aimed to test whether multinationality of firms and management entrenchment
are possible driver of companies’ decisions to adopt Zero-Leverage or Almost Zero-Leverage
financial decisions. In addition, we analyze the profile of Debt-Conservative firms to
understand if the reason why companies decide to have low or nor debt is explained by their
financial constraints or instead, by their desire to achieve financial flexibility.
We find, across different linear and logistic regressions, that Multinationality and CEOs
Ownership positively increase the likelihood of a firm to be Debt-Conservative while
controlling for Year and Industry fixed effects. Moreover, our findings suggest that higher the
level of International Revenues more significant is the impact of Multinationality on the
leverage status of a company for US companies listed in the NYSE and Nasdaq, between 1990
and 2018. Our findings are in line with previous research on the puzzling phenomenon of Zero Leverage and represent the first scientific study on Multinationality and Debt Conservatism for
North American companies.Esta investigação destina-se a testar se a multinacionalidade das empresas e a proteção
injustificada dos quadros serão fatores potencialmente determinantes para as empresas ao
adotarem decisões financeiras de Alavancagem-Zero ou Quase Alavancagem-Zero. Além
disso, analisamos o perfil de empresas com níveis conservadores de dívida para compreender
se estas decidem ter pouca ou nenhuma dívida devido aos seus constrangimentos financeiros
ou, em vez disso, pelo seu desejo de alcançar flexibilidade financeira.
Verificamos, através de diferentes regressões lineares e logísticas, que a Multinacionalidade e
a Propriedade dos CEOs aumentam positivamente a probabilidade de uma empresa ser
Conservadora da Dívida enquanto controla os efeitos fixos do Ano e da Indústria. Além disso,
as nossas conclusões sugerem que um nível de Receitas Internacionais mais elevado deverá
levar a um impacto mais significativo da Multinacionalidade sobre o estatuto de alavancagem
de uma empresa, isto para empresas americanas cotadas no NYSE e no Nasdaq, entre 1990 e
2018. As nossas conclusões estão em linha com estudos anteriores sobre o fenómeno de
Alavancagem-Zero e representam o primeiro estudo científico sobre Multinacionalidade e
Conservadorismo da Dívida para empresas norte-americanas
The Economics of Big Science 2.0
Full text linkThe second volume of open access essays builds upon the success of the initial installment, "The Economics of Big Science (© 2021, 978-3-030-52390-9, Open Access book as well)," delving deeper into the tangible socio-economic value generated by fundamental science missions and elucidating the various ways in which this benefit is realized. This collection showcases contributions that stem from socio-economic impact studies conducted on the activities of Research Infrastructures. These studies were presented and discussed by the authors during a dedicated session on the "Economics of Big Science" at the headquarters of the European Space Agency (ESA) in Paris in May 2023, organized by EIROforum. The authors, affiliated with prominent universities, research centers, and international research organizations, actively contribute to an international collaborative effort. Their aim is to develop strategies and policies that ensure fundamental scientific research in Europe translates into tangible and sustainable societal and economic benefits. This volume is intended to be a valuable resource for policymakers, funding agencies, scientists, and academics across diverse domains. It serves as a comprehensive reference for the evidence of socio-economic impact stemming from fundamental scientific research within Open Science, Research, and Innovation environments. Moreover, it equips stakeholders with evidence supporting the effectiveness of impact analysis and facilitates the design of best practices in this regard
Investing in fundamental research:for whom? A philosopher's perspective
Full text linkIn this short piece arising from panel discussion at the 2019 FCC Week Conference in Brussels, I briefly review some of the challenges facing large-scale investments in science and the philosophical question that looms large: why care about investing in fundamental research
The Economics of Big Science
Full text linkThe essays in this open access volume identify the key ingredients for success in capitalizing on public investments in scientific projects and the development of large-scale research infrastructures. Investment in science – whether in education and training or through public funding for developing new research tools and technologies – is a crucial priority. Authors from big research laboratories/organizations, funding agencies and academia discuss how investing in science can produce societal benefits as well as identifying future challenges for scientists and policy makers. The volume cites different ways to assess the socio-economic impact of Research Infrastructures and their role as hubs of global collaboration, creativity and innovation. It highlights the different benefits stemming from fundamental research at the local, national and global level, while also inviting us to rethink the notion of “benefit” in the 21st century. Public investment is required to maintain the pace of technological and scientific advancements over the next decades. Far from advocating a radical transformation and massive expansion in funding, the authors suggest ways for maintaining a strong foundation of science and research to ensure that we continue to benefit from the outputs. The volume draws inspiration from the first “Economics of Big Science” workshop, held in Brussels in 2019 with the aim of creating a new space for dialogue and interaction between representatives of Big Science organizations, policy makers and academia. It aspires to provide useful reading for policy makers, scientists and students of science, who are increasingly called upon to explain the value of fundamental research and adopt the language and logic of economics when engaging in policy discussions
The Economics of Big Science
Full text linkThe essays in this open access volume identify the key ingredients for success in capitalizing on public investments in scientific projects and the development of large-scale research infrastructures. Investment in science – whether in education and training or through public funding for developing new research tools and technologies – is a crucial priority. Authors from big research laboratories/organizations, funding agencies and academia discuss how investing in science can produce societal benefits as well as identifying future challenges for scientists and policy makers. The volume cites different ways to assess the socio-economic impact of Research Infrastructures and their role as hubs of global collaboration, creativity and innovation. It highlights the different benefits stemming from fundamental research at the local, national and global level, while also inviting us to rethink the notion of “benefit” in the 21st century. Public investment is required to maintain the pace of technological and scientific advancements over the next decades. Far from advocating a radical transformation and massive expansion in funding, the authors suggest ways for maintaining a strong foundation of science and research to ensure that we continue to benefit from the outputs. The volume draws inspiration from the first “Economics of Big Science” workshop, held in Brussels in 2019 with the aim of creating a new space for dialogue and interaction between representatives of Big Science organizations, policy makers and academia. It aspires to provide useful reading for policy makers, scientists and students of science, who are increasingly called upon to explain the value of fundamental research and adopt the language and logic of economics when engaging in policy discussions
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
The Economics of Big Science : Essays by Leading Scientists and Policymakers
No full textThe essays in this open access volume identify the key ingredients for success in capitalizing on public investments in scientific projects and the development of large-scale research infrastructures. Investment in science – whether in education and training or through public funding for developing new research tools and technologies – is a crucial priority. Authors from big research laboratories/organizations, funding agencies and academia discuss how investing in science can produce societal benefits as well as identifying future challenges for scientists and policy makers. The volume cites different ways to assess the socio-economic impact of Research Infrastructures and their role as hubs of global collaboration, creativity and innovation. It highlights the different benefits stemming from fundamental research at the local, national and global level, while also inviting us to rethink the notion of “benefit” in the 21st century. Public investment is required to maintain the pace of technological and scientific advancements over the next decades. Far from advocating a radical transformation and massive expansion in funding, the authors suggest ways for maintaining a strong foundation of science and research to ensure that we continue to benefit from the outputs. The volume draws inspiration from the first “Economics of Big Science” workshop, held in Brussels in 2019 with the aim of creating a new space for dialogue and interaction between representatives of Big Science organizations, policy makers and academia. It aspires to provide useful reading for policy makers, scientists and students of science, who are increasingly called upon to explain the value of fundamental research and adopt the language and logic of economics when engaging in policy discussions
Variations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Full text linkWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
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