Hasil untuk "Capital. Capital investments"

Michel Beine, F. Docquier, Hillel Rapoport

Laura Alfaro, S. Kalemli‐ozcan, V. Volosovych

Robert J. Barro, Gary S. Becker, Robert King et al.

Carol Corrado, Charles R. Hulten, Dan Sichel

Ronald I. McKinnon

This books presents a theory of economic development very different from the "stages of growth" hypothesis or strategies emphasizing foreign aid, trade, or regional association. Leaving these aside, the author breaks new ground by focusing on the use of domestic capital markets to stimulate economic performance. He suggests a "bootstrap" approach in which successful development would depend largely on policy choices made by national authorities in the developing countries themselves. Central to his theory is the freeing of domestic financial markets to allow interest rates to reflect the true scarcity of capital in a developing economy. His analysis leads to a critique of prevailing monetary theory and to a new view of the relation between money and physical capital—a view with policy implications for governments striving to overcome the vicious circle of inflation and stagnation. Examining the performance of South Korea, Taiwan, Brazil, and other countries, the author suggests that their success or failure has depended primarily on steps taken in the monetary sector. He concludes that monetary reform should take precedence over other development measures, such as tariff and tax reform or the encouragement of foreign capital investment. In addition to challenging much of the conventional wisdom of development, the author's revision of accepted monetary theory may be relevant for mature economies that face monetary problems.

O. Lamont

G. Calvo

Kenneth A. Froot, Jeremy C. Stein

M. Porter

Gary C. Biddle, G. Hilary

C. B. Barry, Chris J. Muscarella, John W. Peavy et al.

Chien‐Chiang Lee, Meng-Fen Hsieh

Kathleen M. Kahle, R. Stulz

Leroy Almendarez

Agripah Marangwanda

Amid rising insurance penetration, climate shocks, and expanding infrastructure investments, Africa's demand for risk transfer solutions is accelerating. Yet, the continent’s reinsurance sector remains structurally fragile and disproportionately reliant on foreign capacity. This paper presents a structured literature review to trace the historical, institutional, and regulatory evolution of Africa’s reinsurance architecture. It critically examines enduring constraints—including undercapitalization, technical skill deficits, regulatory fragmentation, and constrained retrocession access—that continue to impede local risk retention and limit financial system resilience. The dominance of global reinsurers perpetuates premium outflows and entrenches contractual asymmetries, thereby stifling the emergence of robust indigenous reinsurance capacity. Through comparative case studies of Brazil and Malaysia, the analysis illustrates the value of coordinated regulatory reform, capital investment, and talent development in building sustainable reinsurance ecosystems. It also evaluates the roles, contributions, and limitations of key African reinsurance institutions, including Africa Re, ZEP-RE, Kenya Re, TAN-RE, and Ghana Re. A central focus of the paper is the recent resurgence of protectionist measures—such as mandatory cessions and market reclosures—in Tanzania, Zimbabwe, Zambia, and Kenya. While these policies seek to reclaim financial sovereignty and preserve domestic capital, they risk undermining regional solidarity and market integration efforts central to the African Continental Free Trade Area (AfCFTA). The paper assesses AfCFTA’s potential as a policy vehicle for regulatory harmonisation, regional risk pooling, and cross-border service liberalisation. The study concludes with forward-looking strategic recommendations aimed at enhancing regulatory coherence, actuarial and underwriting capacity, and financial innovation—including the development of African insurance-linked securities (ILS) markets. These insights offer practical guidance for policymakers, regulators, investors, and development partners committed to repositioning African reinsurance as a cornerstone of financial sovereignty, disaster resilience, and inclusive economic growth.

Qingguo Zhang

This study addresses regional disparities and the dynamic evolution of China’s science and technology finance integration (STFI) by constructing a composite index system using the entropy method. Recognizing the limitations of subjective weighting in traditional assessment frameworks, the entropy approach was employed to objectively quantify the contribution weights of 23 indicators across four dimensions: capital investment intensity, market development level, technological innovation efficiency, and public service accessibility. Analysis of panel data from 31 provinces (2010–2020) reveals three key findings: (1) China’s overall STFI exhibits a declining trend, with market development and capital investment emerging as primary drivers; (2) regional disparities are widening, as evidenced by a 2.3-fold increase in the coefficient of variation, with northwestern provinces demonstrating the fastest growth, while southwestern regions lag significantly; and (3) public services and innovation contributions remain underdeveloped, accounting for only 15.6% of the composite index. The entropy-based assessment framework demonstrates superior discriminatory power compared to principal component analysis, particularly in capturing regional heterogeneity. Policy implications include calls for intergovernmental coordination mechanisms, national market unification, inclusive service diffusion strategies, and targeted innovation investments. This research contributes a novel quantifiable tool for evaluating technology–finance synergies while highlighting systemic inefficiencies in China’s innovation-driven development paradigm.

Sai Ding, A. Guariglia, John Knight

Brandon Julio, Youngsuk Yook

We examine the effects of political uncertainty on cross-border capital flows using election timing as a source of fluctuations in political uncertainty. FDI flows from US companies to foreign affiliates drop significantly during the period just before an election and increase after the uncertainty is resolved, consistent with the view that political uncertainty deters foreign investment. The electoral patterns in FDI flows are more pronounced when elections are more competitive. The impact of political uncertainty on FDI flows depends on the level of institutional quality. Countries with higher levels of institutional quality experience significantly less variation in FDI around election cycles.

Josephine Borghi, Michael Kuhn

This perspective examines the relationship between climate change, health outcomes, and behavioural responses across the life course. It identifies three primary channels through which climate change impacts behaviours which in turn affect health: increased morbidity driving healthcare demand and accessibility, reduced productivity and income affecting health care investments, and combined health and economic risks shaping migration patterns, dietary choices and human capital investment across the life course and generations. Climate-induced changes in behaviours exacerbate existing health-related and socio-economic vulnerabilities. While climate-related shocks elevate demand for healthcare services, disruptions in infrastructure hinder access, especially for the poorest, widening health inequities. Loss of income and disrupted employment further compound health and economic risks, pushing vulnerable communities towards informal care options and impoverishment tied to health expenditures. Increased health and economic risks are associated with migration affecting healthcare access and health outcomes. They also influence dietary choices, with health consequences. Finally, deteriorating prospects of leading a long, prosperous and healthy life may induce individuals to reduce their time horizon and assign lower values to long-term survival, impacting human capital investments across the life course and generations. Again, these impacts are prone to exhibit a social gradient with vulnerable individuals being more likely to give up on striving for a healthier life. Effective policies must integrate climate, health, and socioeconomic factors, considering long-term behavioural responses and their health and socio-economic implications. Adapting health financing mechanisms to account for climate risks and incentivise resilience-building behaviours within health and social care systems is essential for protecting health across the life course, and avoiding widening inequities.

Hashem Atapour, Afshin Hamdipour, Sahar Safipour

Purpose: Nowadays, companies need innovation to survive in complex conditions and to produce new products and services. In this regard, a key influential factor is the acquisition of competent human capital, as it is considered the building block of companies. Therefore, the aim of this study was to examine the relationship between human capital and innovation in Iranian creative companies. Additionally, by examining the mediating roles of knowledge sharing and social media networking, the research aims to uncover how these elements synergize to bolster innovation. The findings promise to offer valuable insights for organizations aiming to harness the full potential of their human capital and navigate the digital age with enhanced creativity and efficiency.Design/methodology/approach: This study falls in the category of applied researches. Research approach is quantitative and was done using survey method. Out of 1611 creative companies at the time of the research, 311 companies were selected as sample using random sampling method. Data collection was done using standard questionnaires. The questionnaire incorporated a 5-point Likert scale, with questions derived from well-established previous studies. In total, the questionnaire consisted of 18 questions, with the human capital and innovation factors each having 5 questions, and the knowledge sharing and social media networking factors each having 4 questions. The reliability of the questionnaire was rigorously tested using Cronbach's alpha coefficient. The results indicated that the reliability of the research variables, including human capital, knowledge sharing, social media networking, and innovation, were 0.842, 0.863, 0.890, and 0.856, respectively, indicating the questionnaire's adequate reliability. Out of the distributed questionnaires, 233 were returned fully completed, enabling a substantial dataset for analysis. The collected data were analyzed using SPSS and SmartPLS software, facilitating both descriptive and path analysis.Findings: The descriptive analysis revealed that the research data adhered to normal distribution parameters. Further, all the main research variables—human capital, knowledge sharing, social media networking, and innovation—scored above average, indicating a generally positive assessment from the respondents. The path analysis conducted within the Partial Least Squares (PLS) framework offered deeper insights into the relationships among the studied variables. It was revealed that human capital had a significant direct effect on innovation, marked by a path coefficient of 0.237. Moreover, the mediating effects of knowledge sharing and social media networking were substantial. Human capital's impact on innovation, through the mediating role of knowledge sharing, showed a path coefficient of 0.169. Similarly, social media networking as a mediator reflected a path coefficient of 0.180.According to the results, Human capital had both a direct and indirect effect (through the mediating variables of knowledge sharing and social media networking) on innovation. The indirect effect of human capital on innovation was greater than the direct effect, highlighting the importance of knowledge sharing and social media networking in converting the potential of human capital into innovation in Iranian creative companies. The results highlight a crucial insight: innovation within Iranian creative companies is not solely dependent on possessing knowledgeable and skilled human resources. Instead, the mechanisms for sharing knowledge and establishing robust social networks play pivotal roles in converting the latent potential of human capital into tangible innovation. This underscores the importance of creating supportive infrastructures that encourages the free flow of knowledge and leverages social media networking, which enable companies to unlock significant innovative capabilities.The role of knowledge sharing as a mediator in this relationship can be further elucidated through social exchange theory, which highlights the importance of reciprocal interactions and the sharing of information and resources among employees. When employees share their knowledge and expertise, they contribute to a collective pool of ideas and solutions, enhancing the organization's capacity for innovation. Knowledge sharing dismantles silos, enhances collaborative efforts, and ensures continuous learning, thus driving innovation.On the other hand, the mediating rule of social media networking can be understood through the lens of social capital theory, which focuses on the value derived from social relationships and networks. Social media platforms facilitate the creation and maintenance of social connections, enabling employees to access diverse sources of information, feedback, and support. This not only enhances their individual creativity but also fosters a collaborative environment where innovative ideas can thrive. The findings of the study underscore the importance of leveraging social media networks to maximize the innovative potential of human capital.Research limitations/implications: While this research shed light on the relationships between human capital, knowledge sharing, social media networking, and innovation in Iranian creative companies, it faced limitations as follows:The focus of this research was on Iranian creative companies. This may limit the generalizability of the findings to other cultural and organizational contexts. Additionally, cultural differences in attitudes towards knowledge sharing and social media acceptance could affect the results.Reliance on self-reported data might introduce bias. Participants may overestimate their engagement in knowledge sharing or the effectiveness of social media networking due to social desirability or lack of self-awareness. Employing a mixed-method approach, including qualitative data and objective performance metrics, could provide a more comprehensive understanding.This research did not account for all potential mediating and moderating variables. Factors such as organizational structure, leadership style, and technological infrastructure could also play a mediating role in the relationship between human capital and innovation. Future research in this field could address these limitations to gain a deeper understanding and enhance the robustness of the findings.In addition, it is worth exploring the theoretical underpinnings that relate human capital to innovation. Human capital theory suggests that investments in education and training enhance employees' knowledge, skills, and abilities, which are crucial for fostering innovation. Employees equipped with advanced skills and knowledge are more likely to contribute innovative ideas and solutions, thus driving the company's overall innovative performance.Practical implications: Based on the research findings, practical suggestions were presented as follows:Creative companies are advised to invest in employee training, foster a culture of continuous learning and knowledge sharing, and encourage employees to actively participate in social media to facilitate innovation. They should also promote a culture that encourages knowledge sharing.Policymakers are advised to support initiatives that enhance human capital development and create environments conducive to knowledge sharing and innovation.Originality/value: This researh offers valuable insights into the relationship between human capital and innovation, particularly within the context of Iranian creative companies. It not only contributes to the academic literature on human capital and innovation but also offers practical recommendations that can be applied by companies and policymakers to enhance innovation in the digital age.