Complexity and Geographical Economics

Commendatore, Pasquale; Kayam, Saime; Kubin, Ingrid

doi:10.1007/978-3-319-12805-4

Cited by 7 publications

(1 citation statement)

References 482 publications

(709 reference statements)

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“…It has been experimentally demonstrated that actors placed in the higher tiers of the pyramidal structure may have high centrality (Park et al, 2020). In particular, it is consistent with the existence of 'too big to fail' institutions that are usually positioned at the top of the hierarchy (Commendatore et al, 2015). According to the 'ceiling effect' of heterogeneous interactions (Lin, 1999), actors at the top of the hierarchy are at a disadvantage in heterogeneous interactions due to the fact that these vertical relationships may be associated with lower status and poorer resources.…”

Section: Central Position Of Institutional Network and Stock Price Cr...mentioning

confidence: 71%

Collusion or monitoring? Connected institutional investors and stock price crash risk in China

Zhang

Liang

2022

Syst Res Behav Sci

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This paper investigates the impact of connected institutional investors on stock price crash risk. We document that the closer institutions are to the central position of the network, the greater the stock price crash risk, whereas the closer they are to the intermediary position, the smaller the stock price crash risk. Such results remain strong after conducting several robustness checks. Further evidences demonstrate that the collusion effect of central position, which is more pronounced for firms with higher insider ownership concentration, lower institutional ownership and lower regional marketization index, works through managers' asymmetric news disclosure, whereas the monitoring effect of intermediary position, which is more pronounced for firms with higher insider ownership concentration, higher institutional ownership and lower regional marketization index, works through better informativeness and control. Overall, our analyses provide insights into the relation between social embeddedness of individual economic activities and corporate governance.

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Section: Central Position Of Institutional Network and Stock Price Cr...mentioning

confidence: 71%

Collusion or monitoring? Connected institutional investors and stock price crash risk in China

Zhang

Liang

2022

Syst Res Behav Sci

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Some Dynamical Models in Regional Economics: Economic Structure and Analytic Tools

Kubin

Commendatore

Sushko

2016

Qualitative Theory of Dynamical Systems, Tools and Applications for Economic Modelling

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Obtaining a hub position: A New Economic Geography analysis of industry location and trade network structures

2020

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We present a linear New Economic Geography model with three regions, one remote region and two regions that entertain a trade agreement with low bilateral trade costs. Only one of these two integrated regions has the outside option to conclude an additional trade agreement with the remote region and to obtain a hub position. We show that the new trade agreement has a substantial impact on industry location and trade patterns and that the effects strongly depend upon level of integration between the initial two regions. It is not always the region with the outside option that profits from using it. Finally, we also show that higher firm mobility may lead to complex dynamics.

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Complexity and Geographical Economics

Cited by 7 publications

References 482 publications

Collusion or monitoring? Connected institutional investors and stock price crash risk in China

Collusion or monitoring? Connected institutional investors and stock price crash risk in China

Some Dynamical Models in Regional Economics: Economic Structure and Analytic Tools

Obtaining a hub position: A New Economic Geography analysis of industry location and trade network structures

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