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EconomistsTalkArt.org

Research-based policy analysis and commentary

EXPLAINING THE CONTROVERSIAL APPEAL OF MOVIE FRANCHISES

An Application of ‘Consumption Capital Theory’ to Serial Media Content

By Christian Opitz and Kay H. Hofmann

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The appeal of movie continuations clearly is in the eye of the beholder. While loyal fans tend to praise them, the average cineaste is often skeptical of sequels and other serial media content. Nevertheless, leveraging proven storylines in the form of so-called ‘franchises’ has become an omnipresent phenomenon in Hollywood. We study the determinants of sequel success off the beaten track by applying ‘consumption capital theory’ to movie franchises. Our empirical results point to the explanatory power of the proposed framework and may help industry executives to improve the profitability of sequel projects. Continue reading “EXPLAINING THE CONTROVERSIAL APPEAL OF MOVIE FRANCHISES”

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FREE PORTS OR ART PRISONS?

By Sigrid Hemels

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Art may be stored without tax in free ports. However, one may wonder whether free ports are just special tax regimes or whether there is more laying behind their high walls. Sigrid Hemels discusses why free ports may become dodgy art prisons and how this problem can be solved.

Continue reading “FREE PORTS OR ART PRISONS?”

THE ROLE PLAYED BY CULTURAL HERITAGE IN INFLUENCING THE LOCATION CHOICES OF SKILLED INDIVIDUALS

By Pia Nilsson and Mikaela Backman

The development of regions is determined by the knowledge and skills of people living there. Thus, it is in the interest of local policy makers to find location-specific attractors. New research shows that cultural heritage is one of these attractions.

Continue reading “THE ROLE PLAYED BY CULTURAL HERITAGE IN INFLUENCING THE LOCATION CHOICES OF SKILLED INDIVIDUALS”

MAKING CULTURE CAPITAL: EVALUATING THREE DECADES OF THE EUROPEAN CAPITAL OF CULTURE

By Pedro Gomes and Alejandro Librero-Cano

We measure the regional impact of the European Capital of Culture programme using a difference-in-differences approach. GDP per capita in hosting regions is 4.5 % higher compared to non-hosting regions during the event, and the effect persists more than 5 years after it. This result suggests that the economic dimension of the event is important and supports claims that the event serves as catalyst for urban regeneration and development.

Continue reading “MAKING CULTURE CAPITAL: EVALUATING THREE DECADES OF THE EUROPEAN CAPITAL OF CULTURE”

EconomistsTalkArt.org “GOING ON VACATION”

By The Editorial Team

Dear Readers,

The “crew” of EconomistsTalkArt.org blog will be going on (hopefully deserved…) vacation during the summer break. We will be back in the second half of August with some of new outstanding and interesting posts based on recent works published in Journal of Cultural Economics, Poetics, International Journal of Arts Management, and more.

Do watch out, and in the meantime, if you are interested in our work, please do not hesitate to get in contact to us – blog(at)culturaleconomics(dot)org.

Wishing you pleasant holidays, full of culture and the arts, economics in all its forms, and (most of all) … fun! Enjoy.

The EconomistsTalkArt.org editorial team.

DONOR GOVERNANCE AND FINANCIAL MANAGEMENT IN PROMINENT US ART MUSEUMS

By David Yermack

In the article, we study “donor governance”, which occurs when contributors to nonprofit firms place restrictions on their gifts to limit the discretion of managers. In a study of US art museums, we find that when donor restrictions are strong, museums shift their cost structures away from administration and toward program services. Restricted donations also appear to stabilize nonprofits, but reduce management flexibility.

Continue reading “DONOR GOVERNANCE AND FINANCIAL MANAGEMENT IN PROMINENT US ART MUSEUMS”

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