Competition and well-being

We study the effects of competition in a context in which people's actions can not be contractually fixed. We find that in such an environment the very presence of competition does neither increase efficiency nor does it yield any payoff gains for the short side of the market. We also find that competition has a strong negative impact on social well-being, the disposition towards others, and individually experienced well-being, the emotional state, of those on the long side of the market. We conjecture that this limits the possibilities of satisfactory interaction in the future and, hence, has negative implications for efficiency in the longer-run

Financial intermediation in a model of growth through creative destruction

This paper presents an endogenous growth model in which the research activity is financed by intermediaries that are able to reduce the incidence of researcher's moral hazard. It is shown that financial activity is growth promoting because it increases research productivity. It is also found that a subsidy to the financial sector may have larger growth effects than a direct subsidy to research. Moreover, due to the presence of moral hazard, increasing the subsidy rate to R\&D may reduce the growth rate. I show that there exists a negative relation between the financing of innovation and the process of capital accumulation. Concerning welfare, the presence of two externalities of opposite sign steaming from financial activity may cause that the no-tax equilibrium provides an inefficient level of financial services. Thus, policies oriented to balance the effects of the two externalities will be welfare improving.

Do creative industries cluster? mapping creative local production systems in Italy

An important debate on the role of creativity and culture as factors of local economic development is distinctly emerging. Despite the emphasis put on the theoretical definition of these concepts, it is necessary to strengthen comparative research for the identification and analysis of the kind of creativity embedded in the territory as well as its determinants. Creative local production systems are identified in Italy and Spain departing from local labour markets as territorial units, and focusing on two different kinds of creative

From creative ideas to new emerging ventures: the process of identification and exploitation among finnish design entrepreneurs

This study focuses on identification and exploitation processes among Finnish design entrepreneurs (i.e. selfemployed industrial designers). More specifically, this study strives to find out what design entrepreneurs do when they create new ventures, how venture ideas are identified and how entrepreneurial processes are organized to identify and exploit such venture ideas in the given industrial context. Indeed, what does educated and creative individuals do when they decide to create new ventures, where do the venture ideas originally come from, and moreover, how are venture ideas identified and developed into viable business concepts that are introduced on the markets? From an academic perspective: there is a need to increase our understanding of the interaction between the identification and exploitation of emerging ventures, in this and other empirical contexts. Rather than assuming that venture ideas are constant in time, this study examines how emerging ideas are adjusted to enable exploitation in dynamic market settings. It builds on the insights from previous entrepreneurship process research. The interpretations from the theoretical discussion build on the assumption that the subprocesses of identification and exploitation interact, and moreover, they are closely entwined with each other (e.g. McKelvie & Wiklund, 2004, Davidsson, 2005). This explanation challenges the common assumption that entrepreneurs would first identify venture ideas and then exploit them (e.g. Shane, 2003). The assumption is that exploitation influences identification, just as identification influences exploitation. Based on interviews with design entrepreneurs and external actors (e.g. potential customers, suppliers and collaborators), it appears as identification and exploitation of venture ideas are carried out in close interaction between a number of actors, rather than alone by entrepreneurs. Due to their available resources, design entrepreneurs have a desire to focus on identification related activities and to find external actors that take care of exploitation related activities. The involvement of external actors may have a direct impact on decisionmaking and various activities along the processes of identification and exploitation, which is something that previous research does not particularly emphasize. For instance, Bhave (1994) suggests both operative and strategic feedback from the market, but does not explain how external parties are actually involved in the decisionmaking, and in carrying out various activities along the entrepreneurial process.

Why do creative industries cluster? An analysis of the determinants of clustering of creative industries

Creative industries tend to concentrate mainly around large- and medium-sized cities, forming creative local production systems. The text analyses the forces behind clustering of creative industries to provide the first empirical explanation of the determinants of creative employment clustering following a multidisciplinary approach based on cultural and creative economics, evolutionary geography and urban economics. A comparative analysis has been performed for Italy and Spain. The results show different patterns of creative employment clustering in both countries. The small role of historical and cultural endowments, the size of the place, the average size of creative industries, the productive diversity and the concentration of human capital and creative class have been found as common factors of clustering in both countries.

Technological innovation in creative clusters. The case of laser in conservation of artworks in Florence

The field of laser application to the restoration and cleaning of cultural assets is amongst the most thriving developments of recent times. Ablative laser technological systems are able to clean and protect inestimable works of art subject to atmospheric agents and degradation over time. This new technology, which has been developing for the last forty year, is now available to restorers and has received a significant success all over Europe. An important contribution in the process of laser innovation has been carried out in Florence by local actors belonging to a creative cluster. The objects of the analysis are the genesis of this innovation in this local Florentine context, and the relationships among the main actors who have contributed in it. The study investigates how culture can play a part in the generation of ideas and innovations, and which are the creative environments that can favour it. In this context, the issue of laser technologies for the restoration of cultural heritage has been analysed as a case study in the various paths taken by the Creative Capacity of the Culture (CCC).

Institutional Balance in the EU. The Prodi Administration as a Reforming Commission

The essay looks at the Prodi Commission (1999-2004) in the context of the institutional balance in the European Union. Not only did Prodi come into office at a time of unprecedented weakness of the Executive, but the Commission operates within a changing institutional equilibrium, one made more precarious by the shifting political disposition of the Member States

Nanotermoparells: heterounions de nanowires

Projecte de recerca elaborat a partir d’una estada a la University of California a Irvine, EEUU, entre juliol del 2007 i gener del 2008. Els termoparells són actualment els sensors de temperatura més populars i més utilitzats per a un ampli rang d’aplicacions: industrials, domèstiques, etc. Aconseguir miniaturar els dispositius fins a dimensions extremadament petites obra un ampli rang de noves aplicacions per aquests dispositius, per exemple, en el camp de la tecnologia lab-on-a-chip. En aquesta investigació, el concepte de termoparell, és a dir, dos cables de diferent metall connectats per un extrem s’ha extrapolat a l’escala nanomètrica, utilitzant nanowires com a element de construcció. Aquests nanowires s’han sintetitzat a través d’un nou procediment desenvolupat en el grup d’investigació de la Universitat de California, Irvine, que ha permès treballar amb nanowires de diferents dimensions (control independent de l’alçada i amplada) i un major grau d’èxit en la fabricació d’aquests termometres. El mètode també permet dipositar aquestes nanoestructures sobre substractes no conductors de manera controlable, simplificant notablement tot el procés de fabricació. L’obtenció d’aquests dispositius ha permès demostrar que, a part de ser bons sensors de temperatura a nivell macroscòpic (fonts de calor ambientals), també permet la determinació de temperatura a nivell microscòpic (fonts de calor focalitzada, com és el cas de feixos làser). Per a la seva caracterització ha estat necessari l’ús de tecnologia puntera (làsers, amplificadors, microscopis de forces atòmiques) i inclòs el disseny de nous dispositius. Aquests nanotermoparells presenten propietats extraordinàries, com una gran sensitivitat, gran velocitat de resposta a estímuls tèrmics, i un comportament estable vers l’ús i el temps.

Influència dels tractaments mèdics i psicoterapèutics en la disminució del delicte en població addicta a drogues

En l'àmbit judicial es constata una relació entre drogoaddicció i delicte. Els addictes a drogues han iniciat amb freqüència algun programa de desintoxicació o han sol·licitat suport mèdic o psicològic. L'estudi es proposa avaluar l'associació entre la conducta il·legal i l'abús de substàncies tòxiques, així com interpretar l'eficàcia dels tractaments terapèutics en la disminució d’aquesta associació, i les repercussions de les teràpies tant sobre els pacients com sobre el seu entorn. És un estudi observacional prospectiu d’una mostra de 100 subjectes que tenen relació amb el consum de drogues d'abús, al Jutjat de Guàrdia de Barcelona i en subjectes interns del Centre Penitenciari de Joves de Barcelona. Els resultats de l’estudi diuen que el sexe masculí hi està representat en un 94%, la mitjana d’edat és de 25,5 anys, amb baix nivell d’estudis i sense professió qualificada. Gairebé la meitat de la mostra són estrangers i solters. Els pacients estudiats són politoxicòmans amb un consum majoritari de cocaïna (92%), cannabis (87%), alcohol (71%) i el 54% d’heroïna. Destaca l’alta freqüència dels UDVP i de la positivitat als tres virus (VIH, VHC, VHB), tot i que es demostra el descens de l’ús de la via parenteral. El 73% dels subjectes comenten delictes contra la propietat. El 93% de la mostra han estat en tractament, però en períodes curts (70%). El 72,7% que estan en PMM consumeixen habitualment cocaïna. Els pacients tractats amb psicofàrmacs són detinguts menys vegades que la resta de pacients. Pocs pacients han fet tractaments combinats amb psicoteràpia o lliure de drogues. Entre la població de detinguts, els tractaments rebuts han resultat beneficiosos pel que fa a autoestima, autoagressivitat, heteroagressivitat, conflictivitat penal i violència en els fets delictius, però aquestes variables quasi no es modifiquen en el cas dels joves. Els tractaments produeixen un benefici als pacients toxicòmans i disminueixen la conflictivitat penal. Els tractaments s’han d’iniciar en els primers estadis del consum, així com potenciar l’adhesió i el seguiment. Els centres penitenciaris de justícia juvenil, les comissaries i els jutjats de guàrdia són els llocs idonis per a l’abordatge del tractament del drogodependent.

Contrapuntos de la invención

Un instrumento musical implica la presencia de un registro sonoro que afecta tanto a la organización de los sonidos, silencios y ruidos, como a la disposición corporal que con él se va forjando. Desde esta consideración, la organización de la música llevada a cabo con las tecnologías eléctricas y electrónicas supone una profunda modificación de ambos aspectos. La llegada de la electricidad implica una tripledislocación: respecto a la transmisión de lo sonoro, a su posibilidad de reproducción y a la escucha. Estas dislocaciones son puestas en relación con invenciones que, desde el órgano de Ctesibios hasta el clavecín ocular de Castel, nos dibujan un marco en el que música, técnica, sensibilidad y sistemaeconómico-social, tejen sus nexos. A lo largo de este recorrido se trazan lo que se ha denominado contrapuntos de la invención, que pueden tomar en las figuras de J.S. Bach y de J. Cage sus ejemplos más prominentes

The ethics of creative accounting

The term 'creative accounting' can be defined in a number ofways. Initially we will offer this definition: 'a processwhereby accountants use their knowledge of accounting rulesto manipulate the figures reported in the accounts of abusiness'.To investigate the ethical issues raised by creativeaccounting we will:- Explore some definitions of creative accounting.- Consider the various ways in which creative accounting can be undertaken.- Explore the range of reasons for a company's directors to engage in creative accounting.- Review the ethical issues that arise in creative accounting.- Report on surveys of auditors' perceptions of creative accounting in the UK, Spain and New Zealand.

Creative accounting: Some ethical issues of macro- and micro-manipulation

This paper examines two principal categories of manipulative behaviour. The term'macro-manipulation' is used to describe the lobbying of regulators to persuadethem to produce regulation that is more favourable to the interests of preparers.'Micro-manipulation' describes the management of accounting figures to produce abiased view at the entity level. Both categories of manipulation can be viewed asattempts at creativity by financial statement preparers. The paper analyses twocases of manipulation which are considered in an ethical context. The paperconcludes that the manipulations described in it can be regarded as morallyreprehensible. They are not fair to users, they involve an unjust exercise ofpower, and they tend to weaken the authority of accounting regulators.

The struggle against creative accounting: Is "true and fair view" part of the problem or part of the solution?

Creative accounting is a growing issue of interest in Spain. In this article we argue that the concept true and fair view can limit or promote the use of creative accounting depending upon its interpretation. We review the range of meanings that true and fair view can take at an international level and compare the experience of the United Kingdom with the Australian one by analysing the use of true and fair view to limit creative accounting. Finally, we suggest lines of action to be considered by the Spanish accounting standards-setting institutions.

Ethics and creative accounting: Some empirical evidence on accounting for intangibles in Spain

Recent research shows that financial reports are losing relevance. Mainly thisis due to the growing strategic importance of intangible assets in theperformance of a company. A possible solution is to modify accounting standardsso that statements include more self-generated intangible assets, taking intoaccount with their inherent risk and difficulty of valuation. We surveyed loanofficers who were asked to assess the credit-worthiness of a hypotheticalcompany. The only information given was a simplified version of financialstatements. Half the group got statements where research and development costshad been capitalized. The other half got statements in which these costs hadbeen treated as an expense. The findings show that capitalization wassignificantly more likely to attract a positive response to a loan request. Thepaper raises the question of whether accounting for intangibles might providemanagers with one more creative accounting technique and, in consequence, itsethical implications.

The ethics of creative accounting: Some Spanish evidence

'Creative accounting' involves accountants in making accounting policy choices or manipulating transactions in such a way as to give the impression in the accounts that they prefer. While regarded as unethical by most observers, a defence of creative accounting can be based on the ability of the users of accounts to identify bias in accounting policy choices and make appropriate adjustments.In this paper we take the example of the Barcelona Football Club where the club management made three key accounting policy choices that presented a favourable position, and a supporters' club presented an alternative report choosing three alternative accounting policies that presented an unfavourable position. We presented each of these financial reports to one of two groups of Spanish bank loan offices, with supporting notes making the impact of the accounting policy choices clear. We found that the more favourable set of accounts was significantly more likely to attract a positive response to a loan request.This result undermines the defence for creative accounting, based on the ability of users to identify manipulation.