The direction of causality between financial intermediation and real economic progress has been a source of discussion over long periods of time. Instead of exogenously siding with one particular direction a priori, this paper provides a different treatment on this debate by considering the interaction between financial and real sectors to be not just a question of causality, but an issue of co...

Purpose Recent OECD (2010, 2011) reports argue that eco-innovation is the key to realising growth. The purpose of this paper is to analyse the drivers of eco-innovation and to compare the impact of eco-innovation and non-eco-innovation on firm performance. The paper provides insights into the role government regulation can play in directing and stimulating eco-innovation. Design/methodology/app...

Purpose – In recent decades, innovation management has changed. This article provides an overview of the changes that have taken place, focusing on innovation management in large companies, with the aim of explaining that innovation management has evolved toward a contextual approach, which it will explain and illustrate using two cases. Design/methodology/approach – The basic approach in this ...

Financialized urban governance means that local governments have been increasingly reliant on financial techniques and in some extreme cases, captured by shareholders’ interests. However, financialized mutates with various characteristics of governance. This paper unpacks China based the operation Shanghai Municipal Investment Corporation (SMI). The municipal government uses SMI as an intermedi...

Barriers to traditional living-donor kidney transplantation include ABO incompatibility and positive cross-match. Paired exchange kidney transplantation (PEKT) is a viable an increasingly popular method to increase live donation. We discuss the pros and cons as well as the various ways to achieve PEKT along with a review of existing literature. To achieve the full potential of PEKT, the transpl...

Because of delays to input payments, production linkages coincide with trade credit linkages. This paper investigates how these interconnected production and financial linkages of firms propagate shocks upstream and downstream in an input-output model. Theoretically, I obtain that financial frictions in trade and financial linkages of firms are necessary features for generating strong upstream ...

More and more layers of intermediaries arise in modern financial markets. What determines this chain of intermediation? What are the consequences? We analyze these questions in a stylized search model with an endogenous intermediary sector and intermediation chains. We show that the chain length and the price dispersion among inter-dealer trades are decreasing in search cost, search speed, and ...