📈 economics

 Flying Solo or Hunting in Packs? Understanding the Divergence between Individual and Collective Decisions in Angel Groups

Using a unique dataset from the Italian Business Angel Network, this study reveals that while individual angel investors prioritize founding teams and solution innovativeness, collective group decisions systematically shift toward defensible, codified criteria like value proposition clarity, often penalizing the most innovative proposals due to the need for peer justifiability.

Andrea Odille Bosio, Vincenzo Capizzi, Francesca Tenca2026-09-04
📈 economics

Specification, Heterogeneity and Functional Form in the Determinants of Small-Firm Profitability

This paper analyzes 91,756 observations of unlisted Italian firms to demonstrate that while capitalization coefficients are unstable and unidentifiable due to endogeneity, the labor-share coefficient remains robust across diverse estimation methods and functional forms, a stability driven by genuine economic heterogeneity rather than mere accounting identities.

ANGELO LEOGRANDE, Mauro Di Molfetta, Valeria Notarnicola, Maria Giovanna Trotta, Antonio Volpe Plantamura2026-09-04
📈 economics

The Bank-Financed Margin of Trade Credit: Evidence from Italian Innovative and Ordinary SMEs

This paper reconciles conflicting literature on the relationship between bank and trade credit by demonstrating that bank indebtedness is complementary to the credit firms extend to customers but substitutive for the credit they receive, a duality explained by a unified theoretical model and revealed through a comprehensive analysis of Italian SMEs that highlights how measurement scaling choices can obscure these distinct margins.

ANGELO LEOGRANDE, Mauro di Molfetta, Valeria Notarnicola, Maria Giovanna Trotta, Antonio Volpe Plantamura2026-09-04
📈 economics

Revisiting the Environmental Kuznets Curve in Nepal: Role of Energy Transition in Economic Growth

Using an ARDL framework to analyze Nepal's data, this study finds that while renewable energy adoption, urbanization, and economic growth significantly reduce carbon emissions, trade openness increases them, and the results confirm a stable long-run equilibrium with a specific inverted U-shaped Environmental Kuznets Curve pattern.

Khem Subedi, Min Bahadur Shahi, Suman Kharel, Shankar Datt Bhatt, Jas Bahadur Gurung2026-09-04
📈 economics

Financial Inclusion across Muslim- and Non-Muslim-Majority Economies: Evidence on Account Ownership, Access Pathways, and Digital Enablement

Using Global Findex 2024 data from 38 lower-middle-income economies, this study reveals that Muslim-majority countries exhibit significantly lower financial inclusion than their non-Muslim counterparts across account ownership, a stronger reliance on bank-only access pathways, and reduced digital enablement among account holders, highlighting the need for ecosystem-specific policy interventions.

Waqas Shair, Ahmad Salman, Fiaz Ahmad, Aamir Hayat, Anusuyah Subbarao2026-09-03
📈 economics

Macroeconomic Burden of Six Major Metabolic Diseases in Low- and Middle-Income Countries: A Value of Lost Welfare Analysis Based on the Global Burden of Disease Study 2023

This study quantifies the substantial and growing macroeconomic welfare burden of six major metabolic diseases across 120 low- and middle-income countries, revealing that these conditions cost 35.74% of total GDP in 2023, with hypertension currently dominating losses but obesity projected to drive the fastest future increase, thereby highlighting urgent needs for integrated prevention and equitable resource allocation.

Juan Wang, Yan Zhao, Zhaoyu Guo, Xiaoming Wu, Jie Xu, Hang Guo2026-09-03