This paper studies the stabilization properties of time-varying capital requirements in an environment dominated by an oligopolistic banking sector, where banks accumulate capital subject to a leverage adequacy cost. The results indicate that macroprudential policy can stabilize fluctuations in business and credit cycles by controlling the loan rate, thereby influencing the spread within the banking system. A welfare analysis shows that the welfare gains from macroprudential policy depend on the type of shock hitting the economy, and that higher banking competition can amplify these benefits. The findings also highlight that time-varying capital requirements should not substitute for monetary policy, but rather complement it in addressing financial imbalances and adverse sectoral shocks.

Under Title II of the Jumpstart Our Business Startups Act, firms can sell private placement securities to the public via general solicitation (GS) or privately (non-GS). We find that equity offerings under GS tend to be riskier than under non-GS. After accounting for selection, GS issuers are less likely to succeed in i) raising capital, ii) getting venture capital (VC) funding, and iii) exiting via IPO or mergers and acquisitions, and incur substantial brokerage costs for advertising and verifying investor accreditation. However, GS appears to help new entrants and offerings that use registered brokers. The success of Form D financing improves future VC financing and exit outcomes.

Chile has undergone two consecutive failed attempts at constitutional replacement (2021–2022 and 2023), positioning it as a globally interesting case. While existing literature identifies macropolitical and institutional factors underlying such failures, certain key causal mechanisms remain unexplored. This article addresses the central question of why majority-controlling political actors, aware of the need for broad national consensus, ultimately fail to achieve it. Framed as a two-level process—one at the elite negotiation level and the other at the electoral ratification level—this study elucidates the mechanisms operating at each stage that contributed to this dual failure. By analyzing these dynamics in detail, the article offers valuable lessons for future efforts to replace a constitution in a democratic setting.

I ask whether hedgers who speculate should be regulated differently from other speculators in a model where information acquisition is endogenous, and information has real effects. Hedging benefits and feedback effects generate strategic complementarities between market-maker, firm manager, and trader, which causes multiple equilibria. Gains from trade are lower when hedgers acquire information, while speculators may produce less information than socially desirable. A “Volcker rule” separating hedging and speculative activities may help select the higher welfare equilibrium. When too little information is produced, contracts whereby a firm subsidizes losses of designated market-makers (DMM) to make prices more informative increase welfare.

Institutional investors conduct more governance research and are less likely to follow proxy advisor vote recommendations when a company’s bonds comprise a larger share of their assets. These findings are driven by bond holdings, shareholder proposals, and companies where fixed-income managers are more likely to be attentive and share an interest with equity investors in improving governance. The findings do not concentrate on companies or shareholder proposals where creditor–shareholder conflicts are likely. Overall, the findings suggest that corporate bond holdings influence how actively institutions monitor their equity positions and contribute to institutions’ overall incentive to be engaged stewards.

Neurocognitive patterns in leadership shape employee behavior and organizational outcomes, offering important insights for advancing human resource management (HRM) theory and practice. Using a focused, theory-driven journal-based content analysis of ten high-ranked HRM and organizational journals, this review synthesizes neuroleadership research published between 2005 and 2025. The analysis is guided by six integrated neuroleadership themes (decision-making, emotional regulation, motivation and reward processing, social cognition, stress resilience, and attentional control) across six core HRM domains and interpreted through performance-oriented and sustainability-oriented HRM perspectives. The findings suggest that neuroleadership research predominantly emphasizes sustainability-oriented HRM, with decision-making and emotional–cognitive themes most frequently examined within learning and development, followed by employee engagement and well-being and organizational development. In contrast, performance-oriented HRM emphases, such as performance control and transactional management, receive comparatively less attention. The review highlights the need to expand research on motivation, stress resilience, and attentional control to address the demands of an increasingly digitalized workforce.

This study offers a systematic and theory-informed integrative synthesis of research at the intersection of artificial intelligence (AI) and entrepreneurship. Although interest in this domain has expanded rapidly, existing research remains fragmented, technology centered, and weakly connected to theories of entrepreneurial decision-making. To address this gap, the study adopts a hybrid review design that combines a systematic literature review with bibliometric co-word analysis and thematic synthesis. Based on 372 articles indexed in the Web of Science (WoS) Core Collection (2010–2025), the analysis maps the intellectual structure, thematic landscape, and temporal evolution of AI–entrepreneurship research. Four thematic quadrants are identified, reflecting core applications, transversal foundations, isolated specializations, and peripheral themes. The synthesis shows that AI is largely conceptualized as a functional input, while cognitive and behavioral dimensions of entrepreneurial judgment remain marginal. Building on these insights, the article proposes a cognitively informed research agenda to guide future work.

Policy is often seen as the synthesis of economic and political interests of the most influential players operating in material economic structures such as industrial sectors and markets. However, this is not always the case as the formation of policies often depends only partially on the inputs from economic structures, while greater influence is exercised by the internal logics of policy processes and by shared beliefs among policymakers and the society. This paper explores this issue through a comparison of the UK and US liberalisation policies of the natural gas sector.

This paper studies the ‘liberal solidarity’ of Léon Bourgeois through two fundamental and interlinked ‘liberal solidarist principles’: (i) social debt and (ii) the quasi-contract. No real work has been proposed in economics in English in the context of Bourgeois’s work. It is this shortfall that we wish to fill in this article by restoring a little-known ancient thought and proposing an initial contribution to investigating future avenues of research in institutional economics. The solidarism of the Third French Republic allows us to rethink social democratic liberalism from an open and ongoing view of institutions as the driving force behind both individual rights and the collective order. Bourgeois solidarism is an interesting doctrine for rethinking from a moral perspective the role of human duty in economics and, more largely, in society.

This study investigates consumer preferences for two emerging food waste reduction technologies – gene editing and all-natural spray coating – applied to apples. Using a discrete choice experiment with a nationally representative sample of U.S. consumers (n = 413), we estimate willingness to pay for gene-edited apples, spray-coated apples, and untreated apples. A generalized mixed logit model in willingness to pay space reveals that consumers exhibit the highest WTP for gene-edited apples ($2.45/lb), followed by spray-coated apples ($2.37/lb), with untreated apples valued least ($1.79/lb). Latent Class Analysis identifies three consumer segments: Price-Sensitive Skeptics, Sustainability-Oriented Consumers, and Selective Technology Adopters. Sustainability-Oriented Consumers showed the strongest support for both technologies, while Selective Technology Adopters displayed a clear preference for gene editing. Behavioral attitudes, rather than demographic variables, were the main drivers of segmentation. These findings suggest that tailored marketing strategies and policy interventions, including sustainability messaging, pricing incentives, and educational outreach, can support the adoption of food waste-reducing technologies. Overall, consumers are receptive to both gene-edited and spray-coated apples, though concerns about biotechnology and price sensitivity remain. Results offer insights for producers, retailers, and regulators aiming to enhance fresh produce sustainability and reduce food waste along the supply chain.