We explore the impact of fear on demand for government intervention. Our empirical strategy takes advantage of a unique quasi-experiment: During our survey in Russia, a very popular television program misreported the riskiness of the Covid-19 virus, thereby providing short-term exogenous...

This study examines factors influencing full (FP) versus partial (PP) privatization and how markets respond to government control in PP and FP firms. Exploiting China's 2005 NTS reform as a natural experiment, we find that treated PP firms experienced significantly lower post-reform performance,...

This paper examines the macroeconomic implications of unrealistic optimism, a psychological bias that has been largely overlooked in economic models. While traditional models often link optimism to speculative bubbles and excessive risk taking, this study challenges that view by demonstrating...

Global financial markets frequently experience extreme volatility, which poses significant challenges in forecasting stock returns, particularly following market crashes. Traditional models often falter under these conditions due to heightened investor sentiment and strong regulatory...

To understand the capitalist state, often labeled as the "modern state," it is imperative to analyze the relations of dialectical unification between the class nature of the state and its public character with the perspective of historical materialism. From the narrative logic of Capital ,...

This study examines the impact of China's special economic zones (SEZs) on land misallocation, primarily using city-level data for China from 2003 to 2018. The findings indicate that establishing SEZs exacerbates land misallocation by over-allocating land to cities, resulting in an average...

Global financial markets frequently experience extreme volatility, which poses significant challenges in forecasting stock returns, particularly following market crashes. Traditional models often falter under these conditions due to heightened investor sentiment and strong regulatory...

Taxation is often described as the material expression of the social contract. However, this conceptualization largely reflects the Anglo-European experience and provides limited explanatory power for analysing taxation in African states, which did not experience the type of state-society...

This study investigates the impact of government-business relationships on corporate involvement in the People's Republic of China's poverty alleviation campaign. Using data on Chinese-listed firms from 2017 to 2020, we find that closer government-business relationships, as measured by a...

Limited research exists on business transformation strategy within the Indonesian banking sector, particularly regarding regional development banks, which play a crucial role in regional economic advancement. This study investigates the drivers of successful business transformation in Indonesian...

In the wake of the COVID-19 pandemic, the Russian war of aggression against Ukraine and the resurgence of the Middle East conflict, government measures to support the economy have intervened massively in economic activity and thus influenced the real insolvency situation. This situation creates...

In 2016, the IEA and EPICENTER launched the first edition of Dr Christopher Snowdon's 'Nanny State Index', which tries to measure the degree of restrictiveness of paternalistic policies that interfere with personal lifestyle choices in various areas. 'Nanny state' is obviously a pejorative term,...

Business resilience and government intervention are critical in navigating crises. Guided by resilience theory and concepts of state intervention in global crises, this article examines firm-level strategies to the Covid-19 pandemic. The qualitative findings decipher adaptive resilience and...

Limited research exists on business transformation strategy within the Indonesian banking sector, particularly regarding regional development banks, which play a crucial role in regional economic advancement. This study investigates the drivers of successful business transformation in Indonesian...

Purpose - The purpose of this study is to investigate the impact of government policies adopted by the Tunisian government to cope with the COVID-19 sanitary crisis on stock market return. Design/methodology/approach - The author uses daily data from March 2, 2020, to July 23, 2021. Findings -...

Formal conceptions of state capacity have mostly focused on indirect measures of state capacity - by, for instance, using the state's fiscal or extractive capacity as a proxy for its overall capacity. Yet, this input or extractive view of state capacity falls short, especially since...