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Of all publications in the section: 26
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Working paper
Zaretsky Y. SSRN Working Paper Series. SSRN Working Paper Series. Social Science Research Network, 2019
The article reviews the narratives on childhood in medieval autobiographical writings. It argues that these narratives allow us both to see differences in perception of childhood between medieval and modern autobiographers and to rethink the well-known argument of historians of childhood that medieval culture was indifferent to the first years of human life.
Added: Jun 20, 2019
Working paper
Sloev I., Lianos G. SSRN Working Paper Series. SSRN Working Paper Series. Social Science Research Network, 2013
We study the optimal customer-acquisition and customer-retention decisions over an infinite planning horizon of the representative firm in a monopolistically competitive industry. Both the long-term and short-term equilibria of the industry are characterized by a constant optimal retention rate. We show that customer churn rate and the share of acquisition expenditures in the total marketing expenditures decrease with firm size. Stronger competition leads to lower firm's total acquisition and retention expenditures, but it does not change the per-capita levels. Larger market size increases the firm's total acquisition and retention expenditures, but it leaves the per-capita retention levels unchanged.
Added: Feb 17, 2017
Working paper
Sloev I., Lianos G. SSRN Working Paper Series. SSRN Working Paper Series. Social Science Research Network, 2015
We examine the modern approach to customers as assets in its connection to the tradition of the Austrian Economic Theory. We revisit the concept of Customer Lifetime Value within a conceptual framework similar to a Misesian Evenly Rotating Economy. We argue that individual entrepreneurial action inside the market process plays a crucial role in determining the characteristics of customer assets. In our model of an Evenly Rotating Economy we show by means of a numerical example that a passive entrepreneurial attitude and a mechanistic application of the Customer Lifetime Value approach may result in destruction of Value of the Firm.
Added: Feb 17, 2017
Working paper
Sloev I., Lianos G. SSRN Working Paper Series. SSRN Working Paper Series. Social Science Research Network, 2014
We study the structure of optimal customer acquisition and customer retention strategies in an infinite horizon model of a firm in a competitive industry. We examine the effects of changes in customer profitability, density of competition, and discount rate on the optimal allocation of marketing budget. We obtain a number of normative propositions and testable hypotheses at the level of the individual firm and the industry. We establish the connections between the problem of maximizing Customer Equity and the problem of maximizing the Value of the Firm.
Added: Feb 17, 2017
Working paper
Sloev I., Lianos G. SSRN Working Paper Series. SSRN Working Paper Series. Social Science Research Network, 2014
We study the optimal customer-acquisition and customer-retention decisions of the representative firm in a dynamic competitive industry. We find that the optimal per-customer retention effort depends positively on customer profitability and is constant over time. The endogenous effective retention rate is higher for more profitable customers, so their proportion in the customer base increases over time. Larger market size and lower competition strength result in higher acquisition and retention expenditures at the firm level, but they do not change per-capita values. The retention effort that maximize a firm's value also maximize individual Customer Lifetime Value, whereas the equilibrium acquisition expenditure maximize the expected average customer value in the corresponding cohort.
Added: Feb 17, 2017
Working paper
Borisova E. SSRN Working Paper Series. SSRN Working Paper Series. Social Science Research Network, 2013
Ability to make collective agreements determines life of many organizations. But does it matter for the decision to make a new organization? On the data of 82 homeowners associations (HOAs) in Moscow and Perm factors that underpin HOA formation are studied. A logit-regression analysis is used. Ability of tenants to resolve the collective action problem in operating housing infrastructure shows its importance along with the physical characteristics of an apartment building. Thus HOA formation by homeowners is a signal of their ability to manage a house. Collective action paradox begins to play role not only ex post, but also ex ante, prior to organization’s establishment.
Added: Feb 24, 2014
Working paper
Shagbazian G., Aistov A. SSRN Working Paper Series. SSRN Working Paper Series. Social Science Research Network, 2017
The work is devoted to the analysis of entrepreneurial activities. The main purpose of paper is to better understand the institutional impact on entrepreneurship and business survival. Were used data from GEM (Global Entrepreneurship Monitor) for 98 countries throughout 1999-2016 as dependent variables such as total entrepreneurial activity (TEA), established business ownership (EBO), and early-stage business survival rate (EBO/TEA). As explanatory variables characterizing institutional environment we used the rule of law and control of corruption.The results show positive relationships between rule of law and early-stage business survival, and between control of corruption and early-stage business survival rate. Also the rule of law positively influence on level EBO. However, there was no evidence that rule of law and control of corruption are important for the total entrepreneurial activity.
Added: Jul 20, 2017
Working paper
Levando D. V., Sakharov M. SSRN Working Paper Series. SSRN Working Paper Series. Social Science Research Network, 2019
We develop a theory of equilibrium market volatility in a general equilibrium duopoly with complete information. The resulting economic system possesses a property, which can be described as ‘natural volatility’ of markets, even if players have complete information. Economy is described as a strategic market game where every player has market power as a buyer and a seller. Players are uncertain about each other’s actions, and due to the properties of expected utility maximization there is no convergence of common beliefs of common knowledge to unique mixed strategies equilibrium, hence, rational expectations approach cannot be applied.  Volatility at the market appears from a multiplicity of equilibrium mixed strategies; they cannot be computed precisely, but only approximated. We identify several Pareto-efficient strategies and study induced prices, allocations and payoffs, which are all volatile. 
Added: Jan 18, 2019
Working paper
Levando D. V., Sakharov M. SSRN Working Paper Series. SSRN Working Paper Series. Social Science Research Network, 2019
We are constructing an imperfect competition general equilibrium model, with non-consumable money and labor market; our toolkit is an equilibrium default model of Shubik-Wilson (1978). Our result has an ‘equilibrium volatility’ simultaneously occurring at all three markets: labor, goods, and credit market, with a fixed money supply from a bank. A worker and an entrepreneur strategically and simultaneously trade at the three markets. Players are uncertain about each other’s actions, and do not have a convergence of common beliefs of common knowledge. It is impossible to calculate equilibrium mixed strategies exactly, but it is possible to identify some Pareto-efficient strategies and study induced prices, wages, interest rates, default, allocations and payoffs, which are all volatile, and their fluctuations are not independent. We present an equilibrium result, when a total value of default is bigger than total money supply.
Added: Jan 18, 2019
Working paper
Maksimov A.G., Shchurupova D.V. SSRN Working Paper Series. SSRN Working Paper Series. Social Science Research Network, 2016
After analyzing the characteristics and pricing models on the Russian wholesale electricity market, some important features for econometric modeling are introduced. This paper suggests econometric forecasting models developed to predict daily and hourly electricity prices on the day-ahead market for two price zones in Russia: European and Siberian ones. A set of 24 models, which are similar in nature but different in included regressors, are introduced. On the basis of the actual database for 2014 different modifications of price formation are offered and analyzed with the help of the Eviews econometric package. Dynamic forecasts on various distances (day, week, and month) are conducted and the most suitable models from the point of minimizing the norms of the vectors residuals are chosen. Constructed ARMA models have high predictive power and are able to reflect the price trend on the base of exogenous factors and the previous price values.
Added: Jan 15, 2017
Working paper
Hassanpour N. SSRN Working Paper Series. SSRN Working Paper Series. Social Science Research Network, 2013
How does disruption of communication effect political unrest? In search for an answer, we examine the news media consumption behavior among Cairo residents in relation to their protest activity during the 18-day Egyptian uprising of 2011. Based on a survey on protest locations and media usage conducted in Cairo, we confirm a significant disparity in the modes of news consumption between steadfast protesters and those who abstained from the protests. Taking the trauma caused by the sudden and ubiquitous censorship of media during the protests as a temporal marker, the survey depicts the approximate dynamics of protest location and media usage in four phases of the Egyptian uprising. We show that dispersion of the protests greatly increased during the first day of the media shutdown on January 28, and that during the second phase of the protests and onwards local news communication between the respondents and their immediate social network neighbors effectively fueled the mobilization. While the nonparticipants mostly used centralized news outlets, including satellite television, the most ardent protesters relied heavily on their local social network for receiving updates on the events.
Added: Dec 14, 2016
Working paper
Celik L., Aköz K. K. SSRN Working Paper Series. SSRN Working Paper Series. Social Science Research Network, 2017
Added: Jun 12, 2018
Working paper
Artamonova A., Mitrofanova E. SSRN Working Paper Series. SSRN Working Paper Series. Social Science Research Network, 2018
The purpose of this research is to reveal how macro-, meso- and micro-level factors influence the choice of matrimonial behaviour. The ability of determinants of various levels to explain cross-country differences in matrimonial behaviour was examined (second wave of the Generations and Gender Survey); differences in matrimonial behaviour of the Russians were also investigated (a panel part of three waves of the Russian part of the same survey). It was revealed that the form of marriage historically formed in the country, the values profile of the citizens, and the family policy of the government can explain the cross-country differences in matrimonial behaviour at the macro-level. The type of settlement determines the choice between cohabitation and marriage as a first union at the meso-level, while at the micro-level it is determined by the age at entry into the union, conception prior to the union, matrimonial experience of parents, circumstances of leaving the parental home and entering the labour market and educational level. The explanatory ability of these variables is different for men and women, as well as for various generations of the Russians.
Added: Aug 20, 2018
Working paper
Sloev I., Lianos G. SSRN Working Paper Series. SSRN Working Paper Series. Social Science Research Network, 2015
We consider the problem of optimal allocation of the marketing budget between customer acquisition and customer retention by a firm over the trade cycle. In line with the Schumpeterian idea of creative destruction, we find that under perfect capital markets customer retention increases with the state of the trade cycle (pro-cyclical) and customer acquisition decreases with the state of the cycle (counter-cyclical). In the case of imperfect capital markets, however, customer retention may be decreasing and customer acquisition may be increasing with the cycle.
Added: Feb 17, 2017
Working paper
Eduard Dzhagityan. SSRN Working Paper Series. SSRN Working Paper Series. Social Science Research Network, 2018
Mergers and acquisitions (M&A) in the banking industry pose serious threat to the post-crisis recovery amid the increasing interconnectedness of credit institutions. Yet M&A remain one of the least manageable contributors to minimization of systemic risk, should post-M&A process run short of objectives and synergy. Financial markets externalities and adverse scenarios of macro-level dynamics put additional challenges to post-M&A integration, while shortage of macroprudential policy tools fails to empower regulators in designing a roadmap towards minimization of systemic risks built in the M&A processes. Guided by the objectives of the international banking regulation reform (Basel III) we pioneer a principally new idea extending risk-centered regulation over M&A specifics aiming at integrity of banking consolidations that is highly relevant and material for resilience of the banking sector, mitigation of financial markets volatility and ultimately for financial stability. We also propose a single conceptual platform of an M&A-related rulebook as well as an M&A risk matrix that would further shape the mechanism of systemic risk alarmism.
Added: Sep 20, 2020
Working paper
Gurkov I. B. SSRN Working Paper Series. SSRN Working Paper Series. Social Science Research Network, 2020
Communities of practices (CoPs) are groups of people with a common area of expertise or professional practice who interact to exchange, share, and learn from one another. CoPs play a crucial role in distinguishing, memorizing, and exchanging novel effective practices within the organization, enabling the organization to improve its performance. In ―normal‖ circumstances, CoPs rely on channels with high media richness (i.e., personal meetings in informal settings, short- and long-term visits to sister subsidiaries, participation in joint task forces) that transfer tacit knowledge. We demonstrate how it is possible to preserve effective functioning of CoPs using communication channels with lower media richness.
Added: Oct 11, 2020
Working paper
Kim A., Mitrofanova E. SSRN Working Paper Series. SSRN Working Paper Series. Social Science Research Network, 2018
The study is devoted to the investigation of the interrelations between migration and demographic behavior (partnerships, marriages, and childbearing) of modern Russian women. The quantitative research conducted on 2,229 individual biographies of women between 19 and 43 implies the use of descriptive analysis and Event History Analysis (Cox regression) within the Life-Course Approach. The results of the research are viewed within the framework of the hypotheses explaining the impact of migration on demographic behavior already described in scientific literature. The Russian female population is characterized as mostly immobile (more than two thirds of women never experienced migration, at least before age 43). The paper discusses various economic and demographic factors affecting the risks of occurrence of demographic events in migrant and non-migrant life careers. The disruption hypothesis describing the negative effect of migration on marital and reproductive behavior, is partially disproved: 1st migration exhibits no effect on the risk of 1st childbearing or 1st partnership among adult women; the risk of 1st marriage is negatively affected among women after 21.  The selection and the interrelations-of-events hypotheses may explain the demographic behavior of the two suggested groups of migrant women in Russia: educational migrants and marriage migrants.
Added: Aug 20, 2018
Working paper
Rotmistrov A. SSRN Working Paper Series. SSRN Working Paper Series. Social Science Research Network, 2015
The events in Ukraine in 2013-2014 attracted the Russian society’s attention and affected the Russian political agenda. One of the most affected sectors of the Russian domestic policy was Russian nationalist organizations. The issue of radical nationalism has become essential for European countries and for Russia in particular. But this object is rather difficult to be empirical studied. This paper provides such a study based on some methodical ideas. One of the ideas was to combine qualitative and quantitive sociological methods. As the result of applying such a quantitive method as Latent Class Analysis, it was argued that Russian nationalist movement undergone a profound crisis because of the Ukrainian events and was split alike Russian society was. Then, the article provides the arguments of those nationalist organizations which position contradicted the predominating Russian public opinion on the Ukrainian issue. These arguments were gained by means of interviews with the organizations representatives.  
Added: Oct 15, 2015
Working paper
Polskoy S. SSRN Working Paper Series. SSRN Working Paper Series. Social Science Research Network, 2018. No. No. WP BRP 169/HUM/2018.
In this article, we attempt to trace the semantic changes two key concepts of the Modern period - fundamental law and constitution underwent at the 18th century and investigates how these European concepts were adapted and used in the Russian political language. The concept of the constitution and fundamental laws in eighteenth-century political discourse had differing connotations: while the constitution was used mainly to describe the form of government, the concept of fundamental laws referred to historically developing legal traditions which have been adopted as norms of political law. The most radical vision of constitution in the 18th century went further than identify it with the fundamental law, demanding that the latter should enshrine the principles of civil rights and liberties of the Nation, and the legal guarantees thereof. However, this radical view, arising at the end of the century, was far from universal, and the discussion around various understandings of this concept was still to continue for many years.  
Added: Nov 3, 2018
Working paper
Шилова Н. В., Левин М. И. SSRN Working Paper Series. SSRN Working Paper Series. Social Science Research Network, 2013
This paper explores several of the main results of the theoretical work on the economics of innovation, including innovation in the shortage of a particular resource and innovation in the presence of certain barriers set by, for example, in the form of laws protecting intellectual property. In these studies are, in our opinion, valuable arguments in favor of free-market price mechanisms which can be an additional incentive to the development of research and development.
Added: Nov 25, 2013
Working paper
Eduard Dzhagityan. SSRN Working Paper Series. SSRN Working Paper Series. Social Science Research Network, 2018
This article undertakes an empirical analysis of M&A-related risks based on evidence from eight listed U.S. bank holding companies over the period 2000-10. The research model is designed as an inter-domain risk matrix encompassing idiosyncratic and systematic risks underlying horizontal and conglomerate M&A. Risk impact is measured by critical performance metrics at corporate and environmental levels in the pre- and post-M&A periods. It was found insignificant relationship between synergy and concentration and marginal priority of financial over operating synergy in the post-M&A realm. While systematic risk can be mitigated by horizontal M&A followed by majority ownership, its adverse effect is insurmountable for institutions resulted from conglomerate M&A.
Added: Sep 20, 2020
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