The Nature and Development of Giftedness

Following a short discussion of conceptual and theoretical problems of giftedness, the methodological foundations and selected results of a (presently) four year longitudinal study are presented. This study is based on a multidimensional concept of giftedness: intelligence, creativity, social competence, musical ability, psychomotor ability (or practical intelligence). Both academic achievements and leisure activities, as well as cognitive and motivational personality factors and school and family socialisation conditions relevant to giftedness, were studied. During the second project phase developmental aspects and achievement analyses of gifted and normal students aged 6 to 18 years were the central aspects of the study. Finally, methodological problems in the identification of gifted children and adolescents as well as consequences for the nurturing of giftedness are discussed

Agglomeration, Migration and Tax Competition

This paper focuses on tax competition and international migration in R&D sectors as agglomeration forces and trade restrictions are present. Economic integration forces industrialized countries to adapt their tax rates in order to keep their industrial status quo. Unlike the often discussed "race to the bottom" result, taxes are increased and the provision of public goods is maintained. It is also proven that taxes that redistribute between mobile and immobile labor lead to a tax burden that favors mobile labor. As integration continues, the cutback of factor mobility restrictions supports economic development in industrialized countries at the expense of structurally backward regions. --Economic Geography,Agglomeration,Migration,Tax Competition

International Patent Pattern and Technology Diffusion

The paper focuses on the impact of business related R&D spending on input factor productivity (IFP) using international patent applications as a technology diffusion channel. Considering the relationship amongst research and productivity, international patent pattern reflect the link between the source (R&D) and the use (IFP). To estimate patent related spill-over effects, I use the estimation techniques developed and proposed by Kao and Chiang (1998) in order to deal with nonstationary and cointegration and to obtain reliable coefficients. I find that patent related foreign R&D spillover effects are present and that impact on labor productivity for Non-G7 countries is higher due to foreign than domestic R&D activities.Productivity, R&D, Technology Diffusion, Nonstationary Panels

The Relationship between the Ownership Structure and the Role of the Board

This paper develops a theoretical model to better understand how the priorities of the board of directors are influenced by the ownership structure and how that affects firm performance. Most corporate governance research focuses on a universal link between corporate governance practices (e.g., board structure, shareholder activism) and performance outcomes, but neglects how the specific context of each company and diverse environments lead to variations in the effectiveness of different governance practices. This study suggests that the ownership structure has an important influence on the priorities set by the board, and that these priorities will determine the optimal composition of the board of directors. In contrast to a board prioritizing monitoring, where directors with financial experience and a duality are important, a board prioritizing the provision of resources could benefit from directors with different characteristics, the presence of the CEO on the board of directors and a larger board size. Understanding the influence of the board of directors on firm performance requires greater sensitivity to how corporate governance affects different aspects of effectiveness for different stakeholders and in different contexts. The insights on the interaction between the ownership structure and board composition can shed new light onto the contradictory empirical results of past research that has tried to link board composition or structure to firm performance directly. In an effort to increase the relevance of future research on boards and firm performance, we provide a framework on the interaction between ownership, corporate boards and firm performance. In light of scandals and perceived advantages in reforming governance systems, debates have emerged over the appropriateness of implementing corporate governance recommendations mainly based on an Anglo-Saxon context characterized by dispersed ownership where markets for corporate control, legal regulation, and contractual incentives are key governance mechanisms. This paper adds to the literature that argues in favor of the need to adapt corporate governance policies to the local contexts of firms.