This study empirically examines whether managerial myopia leads to short-termism of innovation strategy using Korean firm and USPTO data covering 1980–2017. The main finding is that payout indicators, as the proxy variables for financialisation and managerial myopia, have a negative effect on innovation, quantitatively and qualitatively. Hence, managerial myopia and short-termism of innovation strategy are related. Further, estimation by the firm’s size reveals that the hypothesis of managerial myopia leading to short-termism of innovation strategy is valid only for conglomerates.

The objective of this study was to investigate the impact of environmental policies on bilateral green exports among developed and developing countries. The empirical analysis was based on the fixed-effects gravity model estimation with the PPML (Poisson pseudo-maximum likelihood) for bilateral green trade of world countries for 1990–2019. This study focused on two proxy environmental policy indicators: environment-related tax and energy intensity. The major findings were that, first, promotion of environment-related tax increases green exports among HIC (high-income countries) and, second, an increase in the green trade of a country depends on the energy intensity level of its trading partner countries in order to stabilize domestic demand and production. This result is shown to be significant and consistent within the trade between the same income groups. Thus, supporting the green growth strategy, empirical results suggest that LMY (low- and middle-income) countries have to promote environmental policies and green production processes to be competitive in the global market.

Using detailed longitudinal data from the Korean Labor and Income Panel Study (KLIPS) from 1998 to 2008, this paper finds significant gender differences in impacts as well as adaptation patterns to major life and labor market events in Korea. Men remain on a higher happiness level throughout marriage, while women return to their baseline happiness within only two years. Consequently, men suffer more from divorce and the death of a spouse. This marital gender happiness gap is equivalent to a (husband only) increase of annual per capita household income of approximately US$17,800. The study further finds that men suffer more from unemployment. Results are robust to the inclusion of multiple simultaneous events and the use of different estimators.

The price and output elasticities of energy demand continue to be of interest to academia and policy institutions, having been estimated in previous studies. However, the estimated results show some inconsistencies, especially at the sectoral level, across countries. Based on our conjecture that those inconsistencies are mainly due to the effect of contingent energy intensities and partially to different units of analysis, we narrowed the analysis to the industry level and classified 16 industries into energy-intensive and less energy-intensive groups. The effects of price and output on energy demand were then compared between these two groups using 274 industry panel data across 20 Organization for Economic Cooperation and Development (OECD) countries from 1978 to 2013. The results showed that the price elasticity of energy demand was consistently lower in the energy-intensive group than in the less energy-intensive group, whereas the output elasticity of energy demand was higher in the energy-intensive group than in the less energy-intensive group. Using panel differences and system generalized method of moments estimations, the dynamic elasticities of energy demand were also estimated. Energy demand in reaction to both price and output changes appeared to be more elastic in the long term than in the short term for both energy-intensive and less energy-intensive groups. These findings could be a useful reference for policy makers to deploy separate energy policies for different industries aiming for different temporal effects.

This study investigates the effect of personal remittance inflows and financial development on the economic growth of 29 economic transition countries for the period of 2000–2015. Dynamic panel system GMM estimation results show that there is a positive relationship between remittance inflows and economic growth. It also shows that remittances and the level of financial development have a substitute relationship in promoting economic growth. So the remittance inflows have a positive effect on economic growth for the countries with low levels of financial development, but they have a negative effect on such growth for countries with moderate to high levels of financial development.