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Startup accelerators, which aim to improve the set of choices representing a startup's entry strategy, have become increasingly influential in both regional development and the strategies of individual startups. This article explores an accelerator's impact on startup performance and whether that impact varies substantially by features of the startup's founding environment. Leveraging data from a leading startup accelerator, I use a regression discontinuity framework to hold startup quality constant so that I can compare the performance of admitted startups to those that do not make the cut, and I examine whether any observed performance differentials are driven by accelerator admission and by characteristics of the startup's earlier environment. I find evidence that startups from better pre-accelerator environments experience stronger gains from accelerator admission. I also find evidence of home bias, as local startups have a stronger treatment effect. These results provide evidence of ecosystem effects whereby the impact of one organizational sponsor in an ecosystem is strongly moderated by other features in the ecosystem. The findings help to explain the concentration of accelerator programs in already successful entrepreneurial ecosystems and reveal how such programs may interact with founding environments to complement resource abundance or magnify prior resource inequalities. [ABSTRACT FROM AUTHOR]

This study investigates whether accelerators attract the highest‐performing FinTech ventures. Drawing on countersignalling theory, we present a model of accelerator participation that predicts high‐quality FinTech ventures will avoid accelerator programmes. Using a unique financial reporting dataset of FinTech accelerator participants and a propensity score‐matched sample of comparison firms, we find support for the prediction from our countersignalling model. FinTech accelerator participants have worse performance, both before and after completing a programme, when compared to peer non‐accelerator ventures. Overall, our results indicate that FinTech ventures are less suited for accelerators due to the current breadth of outside funding options available, which provides little incentive for participation from high‐quality ventures. This research has important implications for entrepreneurs, accelerators and investors. [ABSTRACT FROM AUTHOR]

This introductory piece to the special issue presents in a broad sense, issues, and concepts related to temporality and ethics in business and society. In particular, this article rethinking time and temporality while developing a more critical understanding of the same, especially in organizing and managing, helps processing specific ethical questions and issues as well as more sustainable ways by reconstructing the past and relating differently to the presence and future in organisation studies and practice (Wenzel et al. in Organ Stud 45:1–15, 2020). We present an extended understanding of what "timely" means and why is it well timed to connect temporality with ethics and vice versa in our present-day time and for a future to come. We discuss reasons why it is ethically timely to rethink and reconsider not only conceptions of time, but also its implications and consequences related to our contemporary world. This article elaborates on the connection between temporality and ethics. Moreover, we briefly discuss some specific ethically relevant phenomena, the nexus of time, and crisis and then conclude by offering some perspectives on alternative temporal interpretations linked to ethics and an overview of the articles in this special issue. [ABSTRACT FROM AUTHOR]

In modern capitalist societies, companies are exposed to enormous pressure to accelerate. However, it has increasingly become apparent that the social and economic acceleration which is the result of systemic imperatives tends to produce conflict both on the micro-level of personal temporal patterns and rhythms and on the macro-ecological level, where it tends to undermine the proper times for natural regeneration and reproduction. Corporations are increasingly called upon as corporate citizens to fulfil their responsibilities to stakeholders such as employees or ecosystems. Business ethics approaches therefore seek to develop strategies for fulfilling this responsibility in view of these conflicts created by social acceleration. In this contribution, we first present a diagnosis of acceleration imperatives for companies based on a sociological analysis of social acceleration. Then we examine the normative aspects of conflicts created by acceleration for employees and the ecosphere using the sociological conception of resonance. We attempt to articulate conceptually the normative requirements for a business ethics which are capable of dealing with the problems of social acceleration in corporations with a particular focus on a resonant stakeholder approach. [ABSTRACT FROM AUTHOR]

Research Summary: Can accelerators pick the most promising startup ideas no matter their provenance? Using unique data from a global accelerator where judges are randomly assigned to evaluate startups headquartered across the globe, we show that judges are less likely to recommend startups headquartered outside their home region by 4 percentage points. Back‐of‐the‐envelope calculations suggest this discount leads judges to pass over 1 in 20 promising startups. Despite this systematic discount, we find that—in contrast to many past studies—judges can discern startup quality and are no better at evaluating local firms. These differences emerge because the pool of startups accelerator judges evaluate is both broader and less "local," suggesting that judging ability depends on the composition of the companies they are tasked with evaluating. Managerial Summary: Accelerators often seek the most promising startup ideas. Yet, they can only do so if their judges can discern the quality of startups, both local and foreign to them, without systematic bias. We used unique data from a global accelerator where judges are assigned to evaluate startups headquartered across the globe and find that, while judges can detect the quality of both local and foreign startups, they discount startups foreign to them, hindering their ability to accept the best startup ideas. As venture capitalists increasingly source startups from accelerators, this foreign discounting can result in investors passing over promising ideas. However, simple measures like reducing the threshold for startups evaluated by foreign judges may help reduce judges' foreign discounting and enable picking the best companies. [ABSTRACT FROM AUTHOR]

Dobusiness accelerators affect new venture performance? We investigate this question in the context of Start-Up Chile, an ecosystem accelerator. We focus on two treatment conditions typically found in business accelerators: basic services of funding and coworking space, and additional entrepreneurship schooling. Using a regression discontinuity design, we show that schooling bundled with basic services can significantly increase new venture performance. In contrast, we find no evidence that basic services affect performance on their own. Our results are most relevant for ecosystem accelerators that attract young and early-stage businesses and suggest that entrepreneurial capital matters in new ventures. [ABSTRACT FROM AUTHOR]

This work resume the arguments by Hartmut Rosa on the acceleration as a trendy principle of modernity, thus studying in depth the reasons (the "drives") leading to this process. One of these drives -the one analyzed herein in detail- is the capitalist competition that fuels, added to other cultural and institutional aspects, the increase in the speed. Based on the works by David Harvey, this paper shows the directions and the logic reasons whereby the capitalism actually produces the acceleration. Then, it allows making two contributions to Rosa's theory: a discussion of the relationship between the different drives of acceleration; and a weighing of how important it is to take them under the sociological concept of social structure. [ABSTRACT FROM AUTHOR]

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Highlights • Countries' transition into non-traditional exports attracts policy attention. We unpack the channels behind this evolution. • We combine cross-country exports data (1990–2010) with measures of Marshallian linkages: technology, labor and input-output. • We find that countries tend to diversify towards technologically related products. • Developing countries also tend to diversify upstream of current exports, not through downstream processing. • This last finding is consistent with Albert Hirschman's claim in his classical work of 1958. Abstract The transition into non-traditional export activities attracts important policy and academic attention. Using international trade data, we explore how alternative linkages relate to the take-off and acceleration of export industries. Concretely, we run a horse-race among alternative Marshallian linkages across sectors: input-output relations, technology and labor. Technology has a predictive power depending on the specification used. We consistently find, however, that export take-offs are more likely to occur in sectors that are upstream to already competitive export industries. Our findings, which are mostly driven by developing economies, are consistent with Albert Hirschman's 60-year-old view that the forces behind upstream linkages fueled the growth of new competitive industries in the developing world. [ABSTRACT FROM AUTHOR]

Despite its importance, the volatility of derived demand in industrial markets has not been studied by marketing scholars. Here we present a description of how fluctuations in demand for fossil fuels during recent years have caused precipitous changes in demand for turbomachinery equipment used to produce the fuels. This volatility in demand for fossil fuel production equipment is viewed both from the perspective of industry and that of five individual companies. Finally, a number of marketing strategies that can serve to dampen otherwise volatile sales performance are proposed for industrial firms. [ABSTRACT FROM AUTHOR]

In their survey on whether advertising increases prices, Farris and Albion fail to understand that those who argue that advertising increases prices lack both theory and facts. Consumers benefit from advertising because advertising lowers the costs of information about brand qualities and reduces the average price per unit of quality. They also fail to recognize that Steiner's dual stage model is inconsistent with the theory of derived demand. [ABSTRACT FROM AUTHOR]

The level of consumption of many industrial products is closely related to the general level of industrial activity. Yet forecasts of industrial activity are generally more accurate than forecasts of factory shipments for a particular industry. A method is presented for deriving better forecasts of manufacturers' sales from projections of general industrial activity by systematic analysis of inventory behavior at all levels of distribution. [ABSTRACT FROM AUTHOR]

The article reports on a simulation study concerning the dynamic behavior of Chow's Model and the effect of three determinants--multiplier, accelerator and liquidity preference--on U.S. national income. Four equations in the model--which relate to consumption, investment, and the demand for money--include exogenous variables such as currency, demand deposits, and government purchases and four endogenous variables including new construction, personal consumption, and yield from twenty-year corporate bonds. Terms representing a gross national product deflator, four-component random vector matrix, marginal tax rate, and slope of the equation are defined. The econometric model was tested to determine the effect of random shocks on the variables and to analyze business cycles.

Time and acceleration have remained at the periphery of debates about the theory and practice of governance, yet they add an important contextual dimension to Sørensen and Torfing’s contribution and discussion about ‘emerging agendas and future paths’. This short intervention illustrates this point by drawing on contemporary debates that have taken contrary positions on what would represent an appropriate response to the ‘accelerated polity’. Whilst some have argued that slower temporal horizons should be promoted over faster ones (acceleration-as-evil), others have argued that we should embrace the opportunities presented by the imperative of speed (acceleration-as-potential). The commentary concludes that whilst the fast/slow dichotomy is unhelpful, it does serve a purpose in provoking further inquiry into the ‘accelerated polity’, its meaning, effect and impact. [ABSTRACT FROM AUTHOR]

In today's market era of rapid technological innovation even the most established agribusiness players risk being left behind in the wake of disruptive technology. How can large agriculture companies keep up? One emerging possibility for corporate innovation is that of the corporate start-up accelerator. Companies across all sectors, including agricultural and food technology, are increasingly using these programs to tap into early innovation. In 2017, Alltech ran its first program, the Pearse Lyons Accelerator for agri-business and ag-tech start-ups. This article serves to describe and analyze how corporate accelerators have populated start-up ecosystems and how the ag-tech and food sectors are reflecting this trend. Recommendations based on experience and critical feedback are presented to those considering developing their own accelerators and the role it might play in responsible innovation. [ABSTRACT FROM AUTHOR]

African indigenous vegetables (AIVs) hold potential to address food security and nutrition in Africa. Their production and consumption remain constrained by lack of quality seed. Efforts to promote commercial seed production lack information about the effective demand of AIV seed. This study estimated derived demand for input seed in central Uganda using trans-log production model. Own-price and cross-price elasticities for production inputs were estimated using marginal approach. Seed demand analysis showed that farmers would utilise seed from market sources of approximately 32 tons per year, against current formal supply of 4.4 tons. Estimated price elasticities showed that purchased seed was less sensitive to its own price, implying less significant effect of price change on the quantity of seed demanded over time. Seed production exhibited higher gross margins and returns to labour day compared to vegetable production, suggesting prospects of profitability and sustainability of farmer-seed enterprises as an alternative source of quality seed for farmers. [ABSTRACT FROM AUTHOR]

Single-particle entanglement entropy (SPEE) is calculated for entanglement Hamiltonian eigenmode in a one-dimensional free fermion model that undergoes a delocalized–localized phase transition. In this numerical study, we show that SPEE of entanglement Hamiltonian eigenmode has the same behavior as SPEE of Hamiltonian eigenmode at the Fermi level: as we go from delocalized phase toward localized phase, SPEE of both modes decrease in the same manner. Furthermore, fluctuations of SPEE of entanglement Hamiltonian eigenmode — which can be obtained through the calculation of moments of SPEE — signature very sharply the phase transition point. These two modes are also compared by calculation of single-particle Rényi entropy (SPRE). We show that SPEE and SPRE of entanglement Hamiltonian eigenmode can be used as phase detection parameters. [ABSTRACT FROM AUTHOR]

Post Keynesian models consider growth to be demand-led – a logical consequence of Keynes's principle of effective demand. After Harrod's seminal paper in 1939 they try to unearth the hidden variables that might allow the adaptation of the warranted rate, determined from the supply side, to demand-growth expectations that supposedly have an autonomous source. The purpose of this paper is to show that an investment function based on the accelerator and integrated in a supermultiplier is able to shape the warranted rate in consonance with the autonomous trend. The supermultiplier reveals itself as a stable and stabilising mechanism when demand is split into permanent and transient. Hopefully the paper will build bridges with other Keynesian, Kaleckian and Sraffian strands that have so far dismissed the supermultiplier solution because of its apparently inherent instability. [ABSTRACT FROM AUTHOR]

The purpose of this article is to provide a theoretical study about the mechanisms and channels through which both the credit taken by firms and the existence of habits in consumption, help generate and develop investment and consumption booms after a positive and transitory shock to productivity. An exogenous increase in firms' profits sets in motion an endogenous process of sustained growth in consumption through what we call the 'wellness effect'. The rising consumption, in turn, reinforces the initial increase in profits in a dynamic feedback interaction. At the same time, the persistent growth in profits causes a fall in the cost of credit over time, which facilitates the development of the boom. [ABSTRACT FROM AUTHOR]

While organizational identities play a crucial role in the launch and survival of an entrepreneurial venture, we know little about strategies new ventures use to reveal their identities to multiple audiences. In this longitudinal qualitative study of an emerging venture, we seek to clarify how new ventures respond to perceptions of legitimacy from different audiences, especially when a new venture holds a marginalized identity. We follow a faith-based accelerator that manages its faith-based identity by moving from identity opacity to identity transparency despite lacking legitimacy. Our inductive study provides insight into how and why nascent organizations either prevent, or promote aspects of their core identity in the legitimation process. [ABSTRACT FROM AUTHOR]

Although researchers have proposed that applications of effectual logics could be extended beyond entrepreneurs to context of established firms (Wiltbank, Read, Dew & Sarasvathy, 2006), studies focusing on "corporate effectuation" are still scarce, leaving a gap in our understanding of effectuation theory and its boundary conditions. To study how effectual logics unfold in the corporate context, we employ a qualitative, multiple case study approach, grounded on four corporate accelerator programs from the highly uncertain ICT sector, working with external startups. Our initial findings indicate that accelerators constitute an organizational setting that act as an enabler of the development of effectual logics in the corporate context. [ABSTRACT FROM AUTHOR]

This paper calls attention on the effects of the economic properties of knowledge on its derived demand, an issue that has not received enough attention in the literature. The results of the analysis suggests that, because of the idiosyncratic – Arrovian – properties of knowledge, a chain of effects takes place: (i) in downstream markets the price of goods that have been produced using knowledge as an intermediate good, falls, (ii) consequently the derived demand in upstream knowledge markets – both within corporations and by them to knowledge-intensive business services – has a lower position, and (iii) the price of knowledge is lower than it should be were knowledge a standard good traded in competitive markets, (iv) with negative consequences in terms of adverse selection of large scale high quality research projects, but (v) possible compensating effects stemming from the use of knowledge spillovers to generate cheaper knowledge. Such results have important implications for economic policy discussions and decisions. [ABSTRACT FROM AUTHOR]

In this article, we revisit the growth distribution trade-off, drawing from the recent theory and empirics of growth. We differentiate between episodes of growth acceleration and episodes of growth maintenance. We show that while there may be a trade-off between growth and distribution during a growth acceleration, there is no trade-off in growth maintenance. During a growth maintenance episode, policies and institutional reforms that improve income distribution may actually be growth-enhancing. [ABSTRACT FROM AUTHOR]

In an earlier paper, i.e. Kendrick and Amman (A Taylor Rule for fiscal policy?, ), we raised the question of whether adjusting fiscal policy more frequently than its current pace of once a year could be used to improve stabilization. Also, we proposed a method for shedding light on that question by using a small macroeconometric model in a quadratic linear tracking stochastic control framework with an implicit feedback rule to compare a scenario in which fiscal policy was changed quarterly to a scenario in which it was only changed once a year. In this paper we first report on the use of counterfactual experiments in the 2007-2010 period of a major downturn in the economy. We find in one experiment that quarterly changes in policy stabilize output levels in the economy better than annual changes with a slightly larger increase in debt over the counterfactual period. In a second experiment we find that when weight changes are used to get roughly equal stabilization results, the increase in the debt level over the counterfactual periods is substantially less with quarterly than with annual policy changes. In the second part of the paper we repeat the two experiments but do so in a Monte Carlo framework. The results in this more general framework also point the way to a finding that a relatively simple shift from annual to quarterly fiscal policy could provide either better stabilization results with a slightly larger increase in the debt level or similar stabilization results but with a smaller increase in the debt level. [ABSTRACT FROM AUTHOR]

This paper presents an energy-efficient feature extraction accelerator design aimed at visual navigation. The hardware-oriented algorithmic modifications such as a circular-shaped sampling region and unified description are proposed to minimize area and energy consumption while maintaining feature extraction quality. A matched-throughput accelerator employs fully-unrolled filters and single-stream descriptor enabled by algorithm-architecture co-optimization, which requires lower clock frequency for the given throughput requirement and reduces hardware cost of description processing elements. Due to the large number of FIFO blocks, a robust low-power FIFO architecture for the ultra-low voltage (ULV) regime is also proposed. This approach leverages shift-latch delay elements and balanced-leakage readout technique to achieve 62% energy savings and 37% delay reduction. We apply these techniques to a feature extraction accelerator that can process 30 fps VGA video in real time and is fabricated in 28 nm LP CMOS technology. The design consumes 2.7 mW with a clock frequency of 27 MHz at V dd = 470 mV, providing 3.5× better energy efficiency than previous state-of-the-art while extracting features from entire image. [ABSTRACT FROM PUBLISHER]

Highlights: [•] Analysis of the credit network structure as emerging in Riccetti et al. (2011). [•] Application of the methodology proposed by Bargigli and Gallegati (JEBO, 2011). [•] Relationship between network topology and business cycle features. [•] Calibration of the credit network model on Japanese data. [•] Importance of calibration related to bank default dynamics. [ABSTRACT FROM AUTHOR]

Detecting whether banks’ leverage is indeed procyclical is relevant to support the view that booms and crises may be reinforced by some sort of supply side financial accelerator, whilst finding a plausible explanation of banks’ behaviour is crucial to trace the road for a sensible reform of financial regulation and managers’ incentives. By analyzing a large sample of European banks, we show that procyclical leverage appears to be well entrenched in the behaviour of those banks for which investment banking prevails over the traditional commercial banking activity. [ABSTRACT FROM AUTHOR]

Financial factors influencing the business cycle have received considerable attention in recent years in the aftermath of the global financial crisis in 2008. This paper examines the role of financial factors in the business cycle by considering Korea, a small open economy, that experienced a severe financial crisis in 1997 as well as the recent global financial crisis. We estimate small open economy Bayesian DSGE (dynamic stochastic general equilibrium) models with financial factors and analyze the role of these financial factors in the business cycle in the context of Korea. The results indicate that the model based on an endogenous financial accelerator and a modified monetary policy rule provides a better explanation to the data than that without the financial factors and justify the recent attention to financial factors influencing the business cycle. [ABSTRACT FROM AUTHOR]