Uncertainty, Flexible Labour Relations and R&amp;D

Cintio, Marco Di; Grassi, Emanuele

doi:10.1111/meca.12127

Cited by 8 publications

(18 citation statements)

References 51 publications

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“…Given their low stellar masses, it has been argued that UDGs may be analogs of other low mass galaxies, which have been puffed up by gravitational heating, tidal effects, or a high angular momentum (e.g., Beasley & Trujillo 2016;Amorisco & Loeb 2016). An alternative idea is that many are failed galaxies which quenched earlier than other galaxies of the same halo mass, through ram pressure stripping, stellar feedback driven galactic winds, or other effects (van Dokkum et al 2015b;Yozin & Bekki 2015;Agertz & Kravtsov 2016;Di Cintio et al 2016;Peng & Lim 2016). Some UDGs have very high M/L ratios as determined from their kinematics Beasley & Trujillo 2016).…”

mentioning

confidence: 99%

Evidence of Absence of Tidal Features in the Outskirts of Ultra Diffuse Galaxies in the Coma Cluster

Mowla

Dokkum

Merritt

et al. 2017

ApJ

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We study the presence of tidal features associated with ultra diffuse galaxies (UDGs) in galaxy clusters. Specifically, we stack deep Subaru images of UDGs in the Coma cluster to determine whether they show position angle twists at large radii. Selecting galaxies with central surface brightness µ(g, 0) > 24 magarcsec −2 and projected half-light radius r e > 1.5 kpc, we identify 287 UDGs in the Yagi et al. (2016) catalog of low surface brightness Coma objects. The UDGs have apparent spheroidal shapes with median Sérsic index n = 0.8 and median axis-ratio b/a = 0.7. The images are processed by masking all background objects and rotating to align the major axis before stacking them in bins of properties such as axis ratio, angle of major axis with respect to the cluster center and separation from cluster center. Our image stacks reach further than 7 kpc ( 4r e ). Analysis of the isophotes of the stacks reveal that the ellipticity remains constant up to the last measured point, which means that the individual galaxies have a non-varying position angle and axis ratio and show no evidence for tidal disruption out to ∼ 4r e . We demonstrate this explicitly by comparing our stacks with stacks of model UDGs with and without tidal features in their outskirts. We infer that the average tidal radius of the Coma UDGs is >7 kpc and estimate that the average dark matter fraction within the tidal radius of the UDGs inhabiting the innermost 0.5 Mpc of Coma is > 99%.

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confidence: 99%

Evidence of Absence of Tidal Features in the Outskirts of Ultra Diffuse Galaxies in the Coma Cluster

Mowla

Dokkum

Merritt

et al. 2017

ApJ

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“…One of the few studies examining the effect of uncertainty on R&D investment is that by Goel and Ram (2001), who measure uncertainty using 5-year moving averages of countries' inflation rates and find that uncertainty reduces the share of R&D expenditure in GDP. Measuring uncertainty as firm revenue volatility, Czarnitzki andToole (2007, 2011) and Di Cintio and Grassi (2017) come to similar conclusions, using German and Italian firm-level data respectively. Measuring uncertainty as firm revenue volatility, Czarnitzki andToole (2007, 2011) and Di Cintio and Grassi (2017) come to similar conclusions, using German and Italian firm-level data respectively.…”

Section: Related Literaturementioning

confidence: 53%

“…At the micro level, Minton and Schrand (1999), using Compustat data and measuring uncertainty as cash flow volatility, also find evidence of a negative relationship between uncertainty and R&D expenditure. Measuring uncertainty as firm revenue volatility, Czarnitzki andToole (2007, 2011) and Di Cintio and Grassi (2017) come to similar conclusions, using German and Italian firm-level data respectively. 4 On the other hand, to the best of our knowledge, few studies have examined the relationship between exchange rate changes and R&D investment at the firm level, although there are a limited number of firm-level empirical studies on the relationship between exchange rate changes and firms' exports, production, employment, and productivity.…”

Section: Related Literaturementioning

confidence: 53%

“…3 This also holds for investment in R&D, with a considerable number of empirical studies providing evidence that higher uncertainty reduces firm-level R&D investment (e.g., Czarnitzki andToole 2007, 2011;Di Cintio and Grassi 2017). 3 This also holds for investment in R&D, with a considerable number of empirical studies providing evidence that higher uncertainty reduces firm-level R&D investment (e.g., Czarnitzki andToole 2007, 2011;Di Cintio and Grassi 2017).…”

Section: The Developing Economiesmentioning

confidence: 97%

“…Uncertainty makes firms more cautious and less sensitive to changes in business conditions when investing and disinvesting. 3 This also holds for investment in R&D, with a considerable number of empirical studies providing evidence that higher uncertainty reduces firm-level R&D investment (e.g., Czarnitzki andToole 2007, 2011;Di Cintio and Grassi 2017). However, Bloom (2014) points out that it is also possible that uncertainty can stimulate R&D if it increases the upside from innovative new products.…”

Section: The Developing Economiesmentioning

confidence: 99%

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Exchange Rate Uncertainty and R&D Investment: Evidence from Japanese Firms

Ito

Haneda

2017

The Developing Economies

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The Japanese yen is one of the most volatile among developed country currencies. In this paper, we investigate how real effective exchange rate (REER) uncertainty affects firms' research and development (R&D) investment, using firm-level panel data for Japanese manufacturing firms for the period 1994-2011. Our results show that firms that are more exposed to REER uncertainty are less responsive to changes in demand conditions. Uncertainty makes firms more cautious when investing, since high uncertainty increases the chances of making a costly mistake. Our finding thus provides evidence of the caution effect of uncertainty. The caution effect also increases the persistence of R&D, implying that R&D investment does not increase much even if firms face favorable demand conditions. Reducing REER uncertainty is important to stimulate R&D investment, especially for firms that are more exposed to international competition and REER uncertainty.

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Determinants of employees' participation in decision‐making in developing countries: Does a firm's formal versus informal status matter?

Kouakou

2021

Manage Decis Econ

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Prior studies on the determinants of employees' participation in decision‐making have ignored the sector dualism (formal sector vs. informal sector) in developing countries, despite the differences in the characteristics of formal and informal firms. This paper tests the idea that a firm's formal versus informal status matters, using firm‐level data from Côte d'Ivoire. It emerges that a firm's formality status influences positively its probability to involve employees in decision‐making. This result holds after controlling for manager‐, firm‐, and sector‐level factors. Ultimately, the paper contributes to sending the signal that formalization of informal firms in developing countries should be beneficial to their decision‐making process and thereby to their performance.

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Uncertainty, Flexible Labour Relations and R&D

Cited by 8 publications

References 51 publications

Evidence of Absence of Tidal Features in the Outskirts of Ultra Diffuse Galaxies in the Coma Cluster

Evidence of Absence of Tidal Features in the Outskirts of Ultra Diffuse Galaxies in the Coma Cluster

Exchange Rate Uncertainty and R&D Investment: Evidence from Japanese Firms

Determinants of employees' participation in decision‐making in developing countries: Does a firm's formal versus informal status matter?

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