Is a CEO Turnover Good or Bad News?

Corporate Finance

Public participation and willingness to cooperate in common-pool resource management: a field experiment with fishing communities in Brazil

The primary evidence about the factors determining successful self-governance of common-pool resources (CPR) has come from case studies. More recently, this observational evidence has been complemented by insights from economic experiments. Here we advance a third approach in which the role of local deliberation about the management of a fishery resource is investigated in a field experiment. Using three control and three treatment communities in a freshwater fishery, we tested if participation in developing specific measures for community-based sustainable CPR management increased the willingness to contribute to the implementation of these measures. Each community was also exposed to information about their community leader's advice about the proposed measures. Both participation and leader advice affected the willingness of participants to contribute to one of three concrete proposals. However, the strongest influence on individual willingness to contribute was exerted by the individual beliefs about the cooperation of others in CPR management. --local deliberation,participatory research,willingness to contribute,beliefs,fishing resources,field experiment

Decelerated spreading in degree-correlated networks

While degree correlations are known to play a crucial role for spreading phenomena in networks, their impact on the propagation speed has hardly been understood. Here we investigate a tunable spreading model on scale-free networks and show that the propagation becomes slow in positively (negatively) correlated networks if nodes with a high connectivity locally accelerate (decelerate) the propagation. Examining the efficient paths offers a coherent explanation for this result, while the $k$-core decomposition reveals the dependence of the nodal spreading efficiency on the correlation. Our findings should open new pathways to delicately control real-world spreading processes

Messung der akademischen Forschungsleistung in den Wirtschaftswissenschaften: Reputation vs. Zitierhäufigkeiten

This article discusses the provision of sophisticated architecture from the perspective of welfare economics. Given that rational real estate investors do not take into account the external effects of building design quality on the neighborhood, there is a risk of underinvestment into the external appearance of buildings in the market equilibrium. Whether public interventions as well as recent attempts to promote urban economic development by architectural landmark projects are justified, however, essentially depends on the existence of significant spillovers. On this background, we discuss evidence on architectural externalities available for Berlin, Germany and provide fist estimates of aggregated external benefit

Landscape amenities and local development: a review of migration, regional economic and hedonic pricing studies

With rapid urban expansion and loss of open space, attractive local landscapes will continue to gain importance in location decisions and on political agendas. The present study reviews the evidence on the local economic role of landscape amenities from two major strands of empirical research, migration and regional economic models, and hedonic pricing models. Following common amenity definitions we identify 71 relevant peer-reviewed studies and systematically assess the reported effects of the landscape amenity variables. The migration and regional economic studies suggest that migrants are attracted by amenities nearly as often as by low taxes. Reported effects of amenities on income and employment are less consistent. The hedonic studies suggest that nature reserves and land cover diversity have mostly, open space and forest often, and agricultural land rarely positive effects on housing prices. Studies at larger geographic scales and studies involving urban areas were more likely to identify significant amenity effects. Some limitations of the evidence may be overcome with better datasets and modeling approaches. However, in line with other recent work, the limitations also highlight the need for complementary information from the analysis of political preferences for land-use management