We show that the value of corporate diversification increased during the 2007–2009 financial crisis. Diversification gave firms both financing and investment advantages. First, conglomerates became significantly more leveraged relative to comparable focused firms. Second, conglomerates’ access to internal capital markets became more valuable not just because external capital markets became more...

E-commerce technologies—including online exchanges—focus heavily on transaction support. They are designed primarily to reduce transaction costs between suppliers, producers, distributors, and customers. Entrepreneurs however are not likely to realize the full business potential of ecommerce unless the transaction technologies are simultaneously supported by technology-enabled social learning n...

In a globalised networked economy, the sufficient utilisation of networks can be an important competitive advantage. Globally, the marketplace is restructuring itself for the new fast, intense unknown. In the past businesses struggled to position a strategy of solving existing problems. In the networked economy the focus is on finding new opportunities. Social capital is the intellectual capita...

BACKGROUND Adolescent pregnancy exposes female adolescents to medical, social and economic risks. In Ghana, adolescent mothers are more likely to experience complications during pregnancy and delivery as compared to older mothers. This study examined the competencies of adolescent girls to either proactively prevent teenage pregnancy or reactively cope effectively with it. METHODS A cross-sec...

As mobile devices rapidly proliferate and internet services expand concomitantly, a confluence of the two enables users to access the internet on their mobile-cellular devices for a variety of purposes. In this paper, we examine mobile adoption and mobile internet usage in 3,108 counties of the United States for e-entertainment and e-commerce purposes. Spatial patterns of mobile internet adopti...

This paper test the hypothesis that capital market imperfections constrained the growth of British firms during the Industrial Revolution. Using data on the cost structure of a representative British cotton manufacturer during the 1798 to 1827 period, this paper shows that the scale of operation was too small. The findings suggests that industrialization could have proceeded more rapidly if fir...

We model financial market liquidity as provided by financially constrained arbitrageurs. Market liquidity increases with the level of arbitrage capital, i.e., internal and external capital arbitrageurs can access frictionlessly. We show that liquidity dry-ups follow periods of low returns of arbitrageurs’ risky investment opportunities, and that liquidity is correlated across markets. A welfare...

In many agricultural countries, development of rural livelihood through increasing capital is a major regional policy to adapt to climate change. However, the role of livelihood capital in reducing climatic vulnerability is uncertain. This study assesses vulnerability and identifies the effects of common capital indicators on it, using Australian wheat as an example. We calculate exposure (a cl...

BACKGROUND Although natural resources play a central role in rural livelihoods across the globe, little research has explored the relationship between migration and natural capital use, particularly in combination with other livelihood capitals (i.e., human, social, financial and physical). OBJECTIVE Grounded in the rural livelihood framework, this paper explores the association between the l...

Capital accumulation has been one major issue in fishery economics over the last two decades, whereby the interaction of the fish and capital stocks were of particular interest. Because bio-economic systems are intrinsically complex, previous efforts in this field have relied on a variety of simplifying assumptions. The model presented in this paper has been substantially extended and avoids so...