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Current issue

College of Business E-Journal 

Spring 2022 Volume XVII, Issue I

ISSN  number 2158-303X


I. Baumol and Bowen Cost Effects in Research Universities


We estimate cost models for both public and private research universities and use partial differentials from these models to estimate different cost effects.  The results suggest both Baumol’s cost disease and Bowen’s revenue theory drive cost higher and that Bowen effects are larger than Baumol effects.  Tight revenue since 2008 reversed some declines in productivity and accelerated the trend in economizing on the use of tenure track faculty.  This behavior under loose and tight revenue constraints is consistent with Bowen’s revenue theory. 



Robert E. Martin

Emeritus Boles Professor of Economics
Centre College
Danville, KY 40422


R. Carter Hill

Emeritus Professor of Econometrics
Department of Economics
Louisiana State University
Baton Rouge, LA 70803



II. Analysis of the Comovement of Unemployment in the Midwestern States-Tammy Johnson University Louisiana at Monroe


The current paper investigates the interrelatedness of twelve Midwestern states through the comovement of unemployment rates.  Due to their geographic location, we would anticipate similarities and comovement among macroeconomic variables.  The results show that although most of the bivariate pairings do show a relationship.  Five of the sixty-five pairings show no indication of cointegration among their unemployment rates.  Each of these five pairings includes North Dakota.  The paper investigates geographic and socioeconomic similarities between these states to try to explain these results.



Tammy Johnston

University of Louisiana at Monroe



III. Stages of Entrepreneurship in the International Arena: The Role of Access to Capital and Developmental Support


Background and Objective: Research addresses shortcomings in studies between a mature and developing economy within stages of development.  Prior research has largely been homogenous with emphasis on overall development by country.  This research isolates selected countries and stage – intentions, early stage, and established – of development. The main objective is to measure access to capital and developmental support in each stage of entrepreneurial development.

Methods: The model considers four independent variables that measure financing, infrastructure, openness of the economy, and governmental support. A change variable isolates effects before and after the 2008 Financial Crisis. Secondary data were obtained from Global Enterprise Monitor (GEM) and analyzed by regression analysis for years 2001-2020.

Results: Access to capital was a positive variable in the model, with the largest coefficient observed in early stage entrepreneurship for each level of economic development.  Governmental support was inversely correlated.  

Conclusions: Findings indicate that financial access is crucial in early stages of development, while governmental support appears to have unintended consequences of stalling entrepreneurial development.

Contribution / Value:  The value of the research extends prior studies in isolating the significance of the model in predicting each stage of entrepreneurship, but also in differentiating mature economy from developing economy.


Keywords: entrepreneurship, international business

JEL Classification: A10, F00



Benjamin B. Boozer, Jr

Jacksonville State University
Jacksonville, AL 36265