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Sample records for economics firm specializing

  1. Procurement with specialized firms

    NARCIS (Netherlands)

    Boone, Jan; Schottmuller, C.

    2016-01-01

    We analyze optimal procurement mechanisms when firms are specialized. The procurement agency has incomplete information concerning the firms' cost functions and values high quality as well as low price. Lower type firms are cheaper (more expensive) than higher type firms when providing low (high)

  2. Procurement with Specialized Firms

    NARCIS (Netherlands)

    Boone, J.; Schottmuller, C.

    2011-01-01

    This paper analyzes optimal procurement mechanisms in a setting where the procurement agency has incomplete information concerning the firms’ cost functions and cares about quality as well as price. Low type firms are cheaper than high type firms in providing low quality but more expensive when

  3. How do Economic Crises Impact Firm Boundaries?

    DEFF Research Database (Denmark)

    Foss, Kirsten

    2010-01-01

    How economic crises impact the boundaries of firms has been offered virtually no attention in the literature on the theory of the firm. I review the best-known theories of the firm and identify the variables that matter for the explanation of firm boundaries. I then examine how an economic crisis...... may impact these variables and change efficient firm boundaries. The various theories of the firm have difficulties explaining how firms efficiently adapt their boundaries to such prominent characteristics of economic crisis as declining demand and increased costs of external finance. However, all...... these theories stress uncertainty as an antecedent of firm organization, and as uncertainty is also an important characteristic of an economic crisis I examine how uncertainty is allowed to play out in the various theories in order to identify what predictions we can derive from the theory regarding changes...

  4. Entrepreneurship and the Economics of the Firm

    DEFF Research Database (Denmark)

    Foss, Nicolai Juul

    The study of entrepreneurship and the study of economic organizing lack contact. In fact, the modern theory of the firm virtually ignores entrepreneurship, while the literature on entrepreneurship often sees little value in the economic theory of the firm. In contrast, we argue in this chapter...... that entrepreneurship theory and the theory of the firm can be usefully integrated, and that doing so would improve both bodies of theory. Adding the entrepreneur to the theory of the firm provides a dynamic view that the overly static analysis of firm organizing cannot support. Moreover, adding the firm to the study...... of the entrepreneur provides important clues to how we can understand entrepreneurship....

  5. Heterogeneity in Firm Performance During Economic Crisis

    Directory of Open Access Journals (Sweden)

    Sergio Bruni

    2014-06-01

    Full Text Available What happens to firms during periods of deep economic crisis? Did different types of firms perform differently under the economic crisis? With the aid of a rich database and focusing on the literature regarding the growth of firms, this paper investigates the relative profitability performance of Italian firms during the current economic crisis, exploring those factors, which help certain firms to do relatively better even in the slowdown period. Some preliminary results show that the Italian firms that are relatively young in age, with relatively better current liquidity and more focused on domestic market have performed better than other firms. Furthermore, firms operating in high-tech and in highly concentrated sectors have enjoyed a better performance in this period.

  6. Basis of economic analysis of Czech firms

    Directory of Open Access Journals (Sweden)

    Gabriela Chmelíková

    2010-01-01

    Full Text Available When looking for connections between particular business’s activities, theory of financial management uses pyramidal system of indicators. The effectiveness of this tool is based on the appropriate choice of the top indicator. Its decomposition enables to manage firm’s processes from the bottommost organizational levels to the main firm’s mission with respect to the connections between par­ti­cu­lar processes. The aim of this paper was to identify appropriate indicator, which corresponds with creation of firm’s value and design its decomposition. To measure creation of firm’s value it is nowadays very popular to use indicator Economic Value Added (EVA. Though from the theoretical point of view EVA is seen as a superior performance metric, the results of some empirical studies do not support this claim. That is why the information content of EVA was controlled in the concrete conditions of Czech Economy within this article. The results showed eligibility of using EVA in Czech firms and enabled to choose it as the top indicator in the pyramidal system. Ambition of further research is to design a complex of indicators offering a comprehensive economic view on the firm’s per­for­man­ce.

  7. Inter-firm networks : economic and sociological perspectives

    NARCIS (Netherlands)

    Westbrock, B.|info:eu-repo/dai/nl/304836273

    2010-01-01

    Inter-firm collaborations have recently been recognized as a valuable mode for the organization of economic activity, next to markets and hierarchies. This recognition is supported by empirical evidence that strategic alliances between firms facilitate the generation and dissemination of

  8. Entrepreneurship and the Economic Theory of the Firm

    DEFF Research Database (Denmark)

    Foss, Nicolai Juul; Klein, Peter G.

    Although they have developed very much in isolation from each other, we argue the theory ofentrepreneurship and the economic theory of the firm are closely related, and each has much tolearn from the other. In particular, the notion of entrepreneurship as judgment associated withFrank Knight...... and some Austrian school economists aligns naturally with the theory of the firm.In this perspective, the entrepreneur needs a firm, that is, a set of alienable assets he controls, tocarry out his function. We further show how this notion of judgment adds to the key themes inthe modern theory of the firm...

  9. Austrian Economics and the Transaction Cost Approach to the Firm

    Directory of Open Access Journals (Sweden)

    Nicolai J. Foss

    2009-10-01

    Full Text Available As the transaction cost theory of the firm was taking shape in the 1970s, another important movement in economics was emerging: a revival of the ‘Austrian’ tradition in economic theory associated with such economists as Ludwig von Mises and F. A. Hayek (1973; Dolan, 1976; Spadaro, 1978. As Oliver Williamson has pointed out, Austrian economics is among the diverse sources for transaction cost economics. In particular, Williamson frequently cites Hayek (e.g., Williamson, 1985, p. 8; 1991, p. 162, particularly Hayek’s emphasis on adaptation as a key problem of economic organisation (Hayek, 1945. Following Williamson’s lead, a reference to Hayek’s ‘The Use of Knowledge in Society’ (Hayek, 1945 has become almost mandatory in discussions of economic organisation (e.g., Ricketts, 1987, p. 59; Milgrom and Roberts, 1992, p. 56; Douma and Schreuder 1991, p. 9. However, there are many other potential links between Austrian and transaction cost economics that have not been explored closely and exploited.This article argues that characteristically Austrian ideas about property, entrepreneurship, economic calculation, tacit knowledge, and the temporal structure of capital have important implications for theories of economic organisation, transaction cost economics in particular. Austrian economists have not, however, devoted substantial attention to the theory of the firm, preferring to focus on business-cycle theory, welfare economics, political economy, comparative economic systems, and other areas. Until recently the theory of the firm was an almost completely neglected area in Austrian economics, but over the last decade, a small Austrian literature on the firm has emerged. While these works cover a wide variety of theoretical and applied topics, their authors share the view that Austrian insights have something to offer students of firm organisation.

  10. Oil prices remain firm, despite economic slump

    International Nuclear Information System (INIS)

    Brady, Aaron; Giesecke Linda

    2002-01-01

    Despite all the evidence of sluggish economic growth throughout the world this year, WTI crude oil prices have averaged about $24/bbl year-to-date. Although prices have been lower than year-ago levels, they're a far cry from the lows that occurred in 1998 and at the beginning of 1999. Mounting tensions in the Middle East have given crude prices support. While the market has taken these tensions into account since the beginning of the year, more recent concerns about a possible U.S military conflict with Iraq have added a larger war premium to crude prices. Note that the halt of Iraqi exports itself may not be as detrimental as perceived, since these exports could easily be replaced by OPEC's excess capacity. In part, we have already seen a reduction in Iraqi exports this year due to a pricing dispute

  11. Competitive market for multiple firms and economic crisis

    Science.gov (United States)

    Tao, Yong

    2010-09-01

    The origin of economic crises is a key problem for economics. We present a model of long-run competitive markets to show that the multiplicity of behaviors in an economic system, over a long time scale, emerge as statistical regularities (perfectly competitive markets obey Bose-Einstein statistics and purely monopolistic-competitive markets obey Boltzmann statistics) and that how interaction among firms influences the evolutionary of competitive markets. It has been widely accepted that perfect competition is most efficient. Our study shows that the perfectly competitive system, as an extreme case of competitive markets, is most efficient but not stable, and gives rise to economic crises as society reaches full employment. In the economic crisis revealed by our model, many firms condense (collapse) into the lowest supply level (zero supply, namely, bankruptcy status), in analogy to Bose-Einstein condensation. This curious phenomenon arises because perfect competition (homogeneous competitions) equals symmetric (indistinguishable) investment direction, a fact abhorred by nature. Therefore, we urge the promotion of monopolistic competition (heterogeneous competitions) rather than perfect competition. To provide early warning of economic crises, we introduce a resolving index of investment, which approaches zero in the run-up to an economic crisis. On the other hand, our model discloses, as a profound conclusion, that the technological level for a long-run social or economic system is proportional to the freedom (disorder) of this system; in other words, technology equals the entropy of system. As an application of this concept, we give a possible answer to the Needham question: “Why was it that despite the immense achievements of traditional China it had been in Europe and not in China that the scientific and industrial revolutions occurred?”

  12. PERSPECTIVES ON FAMILY FIRMS IN THE ROMANIAN ECONOMIC FRAMEWORK

    Directory of Open Access Journals (Sweden)

    Viorel CORNESCU

    2018-05-01

    Full Text Available The paperwork focuses on emphasizing the increasingly significant role of family firms in the Romanian economic framework, by bringing into attention legislative matters, their advantages and disadvantages compared to other similar forms of organization (sole proprietorship (IF and PFA (self-employed person. The importance of FFs is indisputable, not only generally, from the economic point of view, but also in terms of the commitment shown to local communities, business responsibility, long-term stability and moral values. They are also a fertile soil for entrepreneurship as incubators for future entrepreneurs. Our goal is to capture their features, their evolution in time in the local framework, development tendencies, but also the peculiarities of their financial instrumentation. Their specific aspects in what concerns financial instrumentation of FFs may be the subject of future debates on proposals to improve the management of their work, to analyze their financial activity by highlighting the legislative aspects which are compared to similar forms of organization, by also assessing the evolution in time of family firms in terms of their importance within the economy. Therefore, the paperwork points out some of the key aspects and characteristics of such organizations which act as a balance in entrepreneurial development, along with the economic support of thousands of families, both from rural and urban environment.

  13. How Do We Capture "Global Specialization" When Measuring Firms' Degree of Internationalization?

    DEFF Research Database (Denmark)

    Geisler Asmussen, Christian; Pedersen, Torben; Petersen, Bent

    The IB literature informs us of several ways to measure firms' degree of internationalization. In this paper we make the argument that in fact none of the existing indices really measure firms' degree of "global specialization", that is, to what extent their allocation of resources is multidomestic...... or global. As argued, all the existing measures may gauge a purely multidomestic firm as having a high degree of internationalization, whereas a truly global firm may be ranked low. In order to remedy this we introduce a complementary index measuring how firms are configuring their value chains - whether...

  14. Resource specialization, customer orientation, and firm performance: an empirical investigation of valuable resources

    DEFF Research Database (Denmark)

    Sørensen, Hans Eibe

    2011-01-01

    This study contributes to the strategic marketing research by empirically investigating the role of customer orientation in explaining how firms leverage their specialized but vulnerable resources. The aim is thus to explore a subset of the means by which resources become valuable to the firm...... – the first criterion for a strategic resource. Hypotheses are developed and tested using CEO questionnaire responses from a sample of manufacturing firms and census accounting data. The results show that there is a strong link between industry-specific resources and return on assets for firms with high...... levels of customer orientation. We also report that firm-specific resources are unrelated to firm performance and that a customer orientation – investigated in isolation, may be detrimental to firm performance. Research and managerial implications are discussed....

  15. Economic Reform, Firm Survival and Competitiveness (Middle East ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    During the 1980s, it was thought that liberalizing trade and exposing industries ... of some firms but a more productive and competitive industrial sector as a whole. ... to stimulate higher firm-level productivity in the Middle East and North Africa.

  16. Trade Adjustment Assistance for Firms: Economic, Program, and Policy Issues

    National Research Council Canada - National Science Library

    Hornbeck, J. F

    2007-01-01

    .... This report focuses on the trade adjustment assistance (TAA) program for firms, which provides technical assistance to help them develop strategies to remain competitive in the changing international economy...

  17. Entrepreneurship and the Economic Theory of the Firm

    DEFF Research Database (Denmark)

    Foss, Nicolai Juul; Klein, Peter G.

    2004-01-01

    . Because judgmentcannot be purchased on the market, the entrepreneur needs a firm — a set of alienableassets he controls — to carry out his function. We show how this notion of judgmentilluminates key themes in the modern theory of the firm (existence, boundaries,and internal organization). In our approach......, resource uses are not data, but are createdas entrepreneurs envision new ways of using assets to produce final goods. Theentrepreneur's problem is aggravated by the fact that capital assets are heterogeneous.Asset ownership allows the entrepreneur to experiment with novel combinationsof heterogeneous...

  18. The Lorentz Attractor and Other Attractors in the Economic System of a Firm

    International Nuclear Information System (INIS)

    Shapovalov, V I; Kazakov, N V

    2015-01-01

    A nonlinear model of the economic system of ''a firm'' is offered. It is shown that this model has several chaotic attractors, including the Lorentz attractor and a new attractor that, in our opinion, has not yet been described in the scientific literature. The chaotic nature of the attractors that were found was confirmed by computing the Lyapunov indicators. The functioning of our economic model is demonstrated with examples of firm behaviour that change the control parameters; these are well known in practice. In particular, it is shown that changes in the specific control parameters may change the system and avoid bankruptcy for the firm

  19. Safety and economic study of special trains

    International Nuclear Information System (INIS)

    Loscutoff, W.V.; Hall, R.J.

    1976-01-01

    A comparative evaluation is being conducted of the safety and economics of special (35 mph and less) and regular trains for shipment of spent fuels. The approach, pertinent considerations, and results to date are discussed. The preliminary conclusion is that special train requirements have potential for only a small reduction in the accident likelihood, while increasing the cost

  20. The Effects of the Specialization of Private Equity Firms on their Exit Strategy

    DEFF Research Database (Denmark)

    Rigamonti, Damiana; Cefis, Elena; Meoli, Michele

    2016-01-01

    We investigate how industry and stage specialization of Private Equity (PE) firms affect the likelihood to exit investments by means of trade sales, Initial Public Offerings (IPOs), or Secondary Buyouts (SBOs). Our empirical analysis relies on competing risks models. Using a sample of 818 Leverag...

  1. Joint determination of biological encephalization, economic specialization

    NARCIS (Netherlands)

    Horan, R.D.; Shogren, J.F.; Bulte, E.H.

    2011-01-01

    In this paper, we develop a paleoeconomic model of the co-evolution of economic specialization and encephalization-the common physiological measure of intelligence as reflected by brain mass relative to total body mass. Our economic analysis links ecological and social intelligence theories of

  2. Ecological economics - a special perspective? Preliminary reflections

    DEFF Research Database (Denmark)

    Røpke, Inge

    2002-01-01

    This paper reports on some preliminary reflections from a research project concerning ecological economics as a special perspective. As Clive Spash noted in a presentation at the ESEE conference in Cambridge, July 2001, ecological economics has reached the age of puberty, looks into the glass...... and searches its own identity. The identity seeking processes are visible in the large number of publications discussing the characteristics of ecological economics as well as the similarities to and differences from environmental economics. The present paper is a part of this stream. The paper is work...

  3. ENTERPRISE ARCHITECTURE: AN INTERFACE CONCEPT BETWEEN THE ECONOMICS AND THE MANAGEMENT OF THE FIRM

    Directory of Open Access Journals (Sweden)

    José Carlos Cavalcanti

    2010-01-01

    Full Text Available This paper aims to broadly discuss a subject that intends to be an interface between the economics and the management of the firm: the Enterprise Architecture. This concept is viewed here as the most appropriate means to understand the impact of the information content, of the information systems, and of the information and communication technologies- ICTs on the internal technological and organizational choices of the firm. In support to this argument it relies on three main steps. Initially, a brief review of the main theories (economic and management of the firm is made highlighting their contributions, caveats and convergences. Then the paper bases its analysis on the concept of the firm as an “engine of information” and on a concept from the Computing Science and Engineering, Enterprise Architecture, to point out that these concepts bring up important contributions towards a more consistent interpretation of what the firm is (or how it is organized currently, in which is practically impossible to exist without the modern information tools. Finally, it is presented an innovative methodology, in an analogy to the Structure-Conduct-Performance Paradigm (that is traditionally used on the empirical market analysis, which identifies the firm according to three linear connected approaches: its architecture, its governance, and its growth strategy.

  4. ENTERPRISE ARCHITECTURE: AN INTERFACE CONCEPT BETWEEN THE ECONOMICS AND THE MANAGEMENT OF THE FIRM

    Directory of Open Access Journals (Sweden)

    José Carlos Cavalcanti

    2009-12-01

    Full Text Available This paper aims to broadly discuss a subject that intends to be an interface between the economics and the management of the firm: the Enterprise Architecture. This concept is viewed here as the most appropriate means to understand the impact of the information content, of the information systems, and of the information and communication technologies- ICTs on the internal technological and organizational choices of the firm. In support to this argument it relies on three main steps. Initially, a brief review of the main theories (economic and management of the firm is made highlighting their contributions, caveats and convergences. Then the paper bases its analysis on the concept of the firm as an “engine of information” and on a concept from the Computing Science and Engineering, Enterprise Architecture, to point out that these concepts bring up important contributions towards a more consistent interpretation of what the firm is (or how it is organized currently, in which is practically impossible to exist without the modern information tools. Finally, it is presented an innovative methodology, in an analogy to the Structure-Conduct-Performance Paradigm (that is traditionally used on the empirical market analysis, which identifies the firm according to three linear connected approaches: its architecture, its governance, and its growth strategy.

  5. Ethics and Economics, Family & Firm Social philosophy and practical perspectives

    OpenAIRE

    Rosalia Azzaro Pulvirenti

    2013-01-01

    “Corporate Family Responsibility” means that Households and Stakeholders can help each other, supported by institutions, to increase their growth. Our aim is to explain the main result of it: a higher level of social benefits can be effective for achieving economic goals. The first part of the paper illustrates the status of the art and some theories on business ethics; the final part some practical perspectives about it in Italy.

  6. A Texel fishing lineage: the social dynamic and economic logic of family firms

    NARCIS (Netherlands)

    van Ginkel, R.

    2014-01-01

    In the 1970s and early 1980s, several maritime anthropologists and sociologists pointed out that for a number of economic, social and psychological reasons, the performance of commercial fishing firms based on kin-based capital and labour was highly adaptive. For this reason, most crews in the North

  7. WHAT A FIRM TAKES TO COMPETE IN CONDITIONS OF ECONOMIC ADVERSITY

    Directory of Open Access Journals (Sweden)

    Muyanja Sseyonga

    2003-01-01

    petitive advantages over rivals which enhances the company’s capacity to deal with economic distress. It is incontrovertible, however, that the success of firms must be backed by strong and appropriate macroeconomic management by governments with respect to fiscal, monetary and trade policies.

  8. THE ECONOMIC BASIS IN ORGANISATIONAL BEHAVIOUR – BEHAVIOURAL THEORY OF THE FIRM

    OpenAIRE

    VIRGINIA BĂLEANU

    2007-01-01

    From the economic sciences’ stand point, the process of decision making, including aspects concerning with establishing organizational objectives, is the object of the firm theories. So, these theories that reflect the management’s responsibility in the context of the relationships between people and the organization may be considered the economic basis of organisational behaviour. Parkinson’s Law and the Peter Principle are unconventional examples of the organisational practices that prove t...

  9. 24 CFR 570.203 - Special economic development activities.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 3 2010-04-01 2010-04-01 false Special economic development... § 570.203 Special economic development activities. A recipient may use CDBG funds for special economic... part of an economic development project. Guidelines for selecting activities to assist under this...

  10. Which theories can explain the emerging economic problems? Theories of the firm in the new institutional economics

    Directory of Open Access Journals (Sweden)

    Marek Matuszak

    2010-12-01

    Full Text Available The article presents basic assumptions and new theories of the firm connected with New Institutional Economics (NIE. NIE is regarded as a stream of research which enlarges and enriches the neoclassical economics. NIE focuses on the phenomena ignored by the traditional economics. The research field of NIE is very diversified but the adhesive which integrates all its streams is the idea that the main determinants of the development are institutions. The following part of the article contains a brief presentation of the notion, the significance and the types of institutions. It is stated that the market and its mechanisms depend on the characteristics of institutions which define its nature. Next the article presents briefly new theories of the firm related to NIE – the moral hazard or agency- theoretic approach, transaction cost economics approach and „capabilities” approach. The last part of the article examines the importance of institutions for creating the competitive advantage of a firm and of economies.

  11. Influences of Economic Theories on Accounting Theory: the case of the Objective Function of the Firm

    Directory of Open Access Journals (Sweden)

    Lineker Costa Passos

    2016-10-01

    Full Text Available This essay aims to establish the relationship between the theoretical precepts that guide the accounting disclosure procedures for its stakeholders, both internal and external, and the two main theoretical trends that address the firm’s objective function: the Shareholder theory and the Stakeholder theory. In the perspective of the Shareholder theory, the firm has to define a single objective, which is to maximize shareholder wealth. In the context of Stakeholders theory, the firm must establish a multiple objective, which is to meet the interests of all those involved with its activities. We discuss to what extent theories, standards and accounting practices emanate from the concepts of the two models, especially regarding the users’ demand for useful and relevant information. There is a predominance of Shareholder theory in influencing accounting principles that guide the disclosure of information, although different accounting reports are already discussed and presented, oriented to the Stakeholders of the firm, without establishing a set of concepts that explain and justify them within the scope of Accounting theory. Additionally, it is argued that, all things taken into consideration, both currents of the Economic theory point in the same direction: to seek the wellbeing of the firm’s stakeholders. The research contributes to the accounting literature, in the sense of clarifying the impacts arising from the two economic models that deal with the objective function of the firm in the evolution of Accounting theory, not yet captured directly in the discussion of the fundamentals of accounting theory.

  12. Special Economic Zones, 20 years after

    DEFF Research Database (Denmark)

    Jensen, Camilla; Winiarczyk, Marcin

    In this paper the authors undertake an ex-post evaluation of whether the special economic zones (SEZs) introduced in Poland in 1994 have been successful in meeting regional development objectives. They evaluate the policy on as many of its objectives as possible: employment creation, business...... to reduce the problem of the omitted variables bias such as education level, dependency rates, state ownership, general subsidies and whether the area is urban or rural. The results indicate that SEZs in Poland have been successful in a number of their objectives such as private business creation...

  13. Logging firms, nonindustrial private forests, and forest parcelization: evidence of firm specialization and its impact on sustainable timber supply

    Science.gov (United States)

    Mark Rickenbach; Thomas W. Steele

    2006-01-01

    Increasing forest parcelization has raised concerns about tract-size economies and sustainable timber supply. We explored this issue by examining the logging sector and forest ownership in northern Wisconsin and Michigan's Upper Peninsula. Using 2004 survey data, we found that 48% of logging firms demonstrated a near exclusive reliance on nonindustrial private...

  14. 24 CFR 1003.203 - Special economic development activities.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Special economic development... Eligible Activities § 1003.203 Special economic development activities. A grantee may use ICDBG funds for special economic development activities in addition to other activities authorized in this subpart which...

  15. Economic value added or earnings: What explains market value in Indian firms?

    Directory of Open Access Journals (Sweden)

    Nufazil Altaf

    2016-12-01

    Full Text Available The purpose of this paper is to empirically test the claim made by Stern Stewart & Company that economic value added is a better metric that traditional earning based measures in explaining market value. For better exposition, a sample of 325 Indian firms has been divided into two parts- 170 firms belonging to Indian manufacturing companies and 155 companies belonging to the Indian service sector. After performing univariate and multivariate regression analyses, the results of the study reveal that the operating income has a strong linkage with market value added in both manufacturing and service sectors. For both the sectors, the economic value added shows weaker but positive relationship with the market value added.

  16. Real economic activity and accounting information in Spanish construction and real estate firms

    Directory of Open Access Journals (Sweden)

    Juan Carlos Navarro-García

    2016-01-01

    Full Text Available The aim of this work is to determine whether the accounting information provided by construction and real estate firms in Spain reflects the real economic activity, during upswings and downturns. A relationship is found between economic conditions and financial reporting in a continental European country such as Spain. Although there is a relationship between real housing price growth and financial accounting measures, real estate companies seem to show an artificial position, since they only present a relationship with Return on Assets (ROA based on low quality income (accruals. Therefore, a different financial position influences a different behaviour in these two similar sectors. In fact, some signs alerting of possible risk in real estate firms are shown.

  17. Bureaucratic limits of firm size: Empirical analysis using transaction cost economics

    OpenAIRE

    Canbäck, Staffan

    2002-01-01

    This thesis was submitted for the degree of Doctor of Business Administration and awarded by Brunel University on behalf of Henley Management College This thesis tests Oliver Williamson’s proposition that transaction cost economics can explain the limits of firm size. Williamson suggests that diseconomies of scale are manifested through four interrelated factors: atmospheric consequences due to specialisation, bureaucratic insularity, incentive limits of the employment relation and communi...

  18. Industrial clusters in Russia: The development of special economic zones and industrial parks

    Directory of Open Access Journals (Sweden)

    Sergey Sosnovskikh

    2017-06-01

    Full Text Available This paper investigates the process of developing and implementing special economic zones (SEZs and industrial parks in Russia. Governments commonly use SEZ policies to develop and diversify exports, create jobs and launch technology/knowledge sharing. The industrial cluster concept is based on the significance of rivalry and supplier networks within the cluster, the combination of geographical specificities and government policies that lead to innovation and productivity growth. This study reveals that in Russia the government′s approach in developing these initiatives has strongly interfered with business activities and prevented the vital competitive and collaborative behavior of firms within these economic zones.

  19. Applied evolutionary economics and economic geography

    NARCIS (Netherlands)

    Frenken, K.

    2007-01-01

    Applied Evolutionary Economics and Economic Geography" aims to further advance empirical methodologies in evolutionary economics, with a special emphasis on geography and firm location. It does so by bringing together a select group of leading scholars including economists, geographers and

  20. Pharmaceutical R&D performance by firm size: approval success rates and economic returns.

    Science.gov (United States)

    DiMasi, Joseph A

    2014-01-01

    The R&D productivity of pharmaceutical firms has become an increasingly significant concern of industry, regulators, and policymakers. To address an important aspect of R&D performance, public and private data sources were used to estimate clinical phase transition and clinical approval probabilities for the pipelines of the 50 largest pharmaceutical firms (by sales) by 3 firms size groups (top 10 firms, top 11-20 firms, and top 21-50 firms). For self-originated compounds, the clinical approval success rates were 14.3%, 16.4%, and 18.4% for top 10 firms, top 11-20 firms, and top 21-50 firms, respectively. The results showing higher success rates for smaller firms were largely driven by outcomes for the small-molecule drugs. Adjustments for the relatively small differences in therapeutic class distributions across the firm size groups showed that the success rate for small-molecule self-originated drugs was 6% below average for top 10 firms and 17% above average for top 21-50 firms. Although success rates for small firms were higher, this advantage was offset to some degree by lower returns on approved drugs, suggesting different strategic objectives with regard to risk and reward by firm size.

  1. Louisiana Speaks Regional Plan Vision Special Economic Zones, UTM Zone 15N NAD83, Louisiana Recovery Authority (2007), [louisiana_speaks_vision_special_economic_zones

    Data.gov (United States)

    Louisiana Geographic Information Center — This GIS shapefile data illustrates special economic zones included in the Louisiana Speaks Regional Plan Vision. Special economic zones include existing national,...

  2. Effect of Black Economic Empowerment on profit and competitiveness of firms in South Africa

    Directory of Open Access Journals (Sweden)

    Ewert P.J. Kleynhans

    2014-07-01

    Full Text Available Orientation: The key obstacle hindering optimal profitability levels and competitiveness in firms in South Africa is the application of labour legislation policies and tools aimed at narrowing the income gap between different racial groups and resolving inequality amongst a diverse workforce. Research purpose: This article determined whether the implementation of a Black Economic Empowerment (BEE policy by companies has a positive effect on their growth in terms of profits and competitiveness. Motivation for the study: This study determined whether the implementation of BEE could be profitable for companies. Research design, approach and method: A quantitative study was undertaken in order to find empirical evidence supporting the relation between high BEE Scores, profitability and competitiveness. The empirical investigation utilised regression analysis, correlations and other methods, based on data between January 2009 and December 2011. The BEE Scorecard was used to obtain BEE scores of the top 50 BEE companies. Thereafter, the top 50 companies’ financial information was gathered from the Johannesburg Securities Exchange. Main findings: The implementation of BEE within companies has a positive effect on profitability, turnover and investment. Numerous factors have, however, been hindering,while other factors enhanced the success of BEE. Practical/managerial implications: The findings encourage mangers to engage in BEE as it may facilitate higher profits and indicates where labour legislation could be improved. Contribution/value-add: Value was added through new research determining the effects of BEE and labour legislation on profitability and competitiveness of firms on a micro-level.

  3. Special Issue on Using Econometrics for Assessing Economic Models

    DEFF Research Database (Denmark)

    Juselius, Katarina

    2009-01-01

    Two methodological approaches to empirical economics which are labelled ‘theory first' versus ‘reality first' are introduced building the background for the discussion of the individual contributions to this special issue.......Two methodological approaches to empirical economics which are labelled ‘theory first' versus ‘reality first' are introduced building the background for the discussion of the individual contributions to this special issue....

  4. Joint determination of biological encephalization and economic specialization

    NARCIS (Netherlands)

    Horan, R.D.; Shogren, J.F.; Bulte, E.H.

    2011-01-01

    In this paper, we develop a paleoeconomic model of the co-evolution of economic specialization and encephalization—the common physiological measure of intelligence as reflected by brain mass relative to total body mass. Our economic analysis links ecological and social intelligence theories of

  5. Are Firms in Corporate Groups More Resilient During an Economic Crisis? Evidence from the Manufacturing Sector in Poland

    Directory of Open Access Journals (Sweden)

    Barbara Jankowska

    2016-01-01

    Full Text Available Corporate groups are specific types of business networks that generate particular advantages for firms. They allow corporates to reduce costs, develop the pool of resources and increase the flexibility of operations and responses to external shocks among others. The above mentioned benefits are of even greater importance during times of economic turbulence. Their involvement in a corporate group should theoretically allow firms to perform better. The aim of this study is to verify whether corporate group membership truly translated into a firm’s higher input competitiveness and a firm’s better performance during the recent economic crisis. First, we try to investigate if the input competitiveness is higher in the case of firms being members of corporate groups. Second, we test whether the involvement in a corporate group matters for the performance of the firms. Using critical in-depth literature studies and conducting the primary empirical research using the CATI (computer-assisted telephone interviewing method we strive to verify the following hypothesis - the higher a company’s input competitiveness during the economic crisis, the better a competitive position the company achieves. The empirical research encompasses more than 700 corporates from the manufacturing sector in Poland during the global economic crisis and shortly afterwards. To investigate the issue we use the following methods of statistical analysis – cluster analysis, non-parametric tests and correlation coefficients. The results of the study show that firms involved in both Polish and international corporate groups were more resilient during the economic crisis than those which were not.

  6. A Linkage Model of Supply Chain Operation and Financial Performance for Economic Sustainability of Firm

    Directory of Open Access Journals (Sweden)

    Suk Ho Jin

    2017-01-01

    Full Text Available Although several studies have explored the relationship between the operation and performance of a supply chain (SC, a general SC model cannot deliver the expected financial results at a company-wide level. In this paper, we argue that this cannot guarantee the maximization of a firm’s overall value because short-term financial performance metrics do not reflect the risk to businesses and the invested capital. Owing to the varying natures of risk and the capital invested, firms with multiple divisions should assess each division separately, and the results can be compared for decisions concerning the allocation of the firm’s capital and resources to maximize the overall value of its businesses. We propose a linkage model to consider operational activities and financial performance simultaneously in a firm’s supply chain model. To exhibit the superiority of the proposed model that connects SC operation and financial indicators, we first compare the differences between models for maximizing profit and enterprise-wise economic value added (EVA as objective functions. To examine uncertainty in the operational and financial parameters of the SC, the results of sensitivity analyses are then reported. Experimental results showed that our model, using the EVA approach, is more effective and superior in terms of maximizing the firm’s overall value from the long-term perspective while satisfying the target values for financial ratios set by the firm’s executives and shareholders for all periods, unlike the results of the general model.

  7. MULTI-MARKET INDUSTRIAL ORGANIZATIONAL ECONOMIC MODELS FOR THE INTERNATIONALIZATION PROCESS BY SMALL AND MEDIUM ENTERPRISE CONSTRUCTION DESIGN SERVICE FIRMS

    Directory of Open Access Journals (Sweden)

    Kerry London

    2010-11-01

    Full Text Available Small and medium enterprises (SMEs are critical to strategic initiatives in an economy; however, their contribution to foreign trade is not as significant. SMEs are one of the principal driving forces in economic development. One of the greatest challenges is the internationalization process for longevity rather than seeing the process as initial market entry. The internationalization process research has typically involved four key constructs: market selection, decision to enter, entry modes and factors affecting entry modes. Past research has focused on large manufacturing firms. The export of architectural, engineering and construction (AEC firms has undergone growth, yet there is still significant opportunity for further growth. The majority of AEC firms are SMEs. Notwithstanding assistance provided through international trade missions, organized export firm support networks and information packages by a burgeoning number of government agencies, there are still perceived barriers to market entry and long-term economic sustainability for SMEs. There are a number of problems faced by SMEs acting in foreign trade. This investigation explores the successful initial internationalization process constructs and identifies unique project-oriented sector characteristics. The study identified similarities and differences between two firms that have been exporting to various localities, including Eastern Europe, Africa, Middle East, UK, Asia and South America, for more than two decades. The similarities and differences were identified within eight major constructs: purpose, firm type, market image and design philosophy, entry mode strategy, institutional arrangement, factors affecting mode of entry, market selection and firm strategy in relation to project selection. The primary reasons for internationalization were associated with the firms' motivations related to growth and financial viability. This article discusses the various internationalization

  8. Taking Teams Seriously in the Co-creation of Firms and Economic Agency

    DEFF Research Database (Denmark)

    Kristensen, Peer Hull; Lotz, Maja Marie

    2011-01-01

    In this paper it is suggested that it is time to take the agency of teams seriously. Whereas the debate has previously focused on how firms may function more effectively by using team-based work organization, our aim here is to discuss and understand how teams affect the evolutionary dynamic...... and redistributing authority, thereby challenging some of the existing ‘idioms’ of team research and theories of the firm. Building on these findings, we rethink research on teams by re-describing the evolutionary dynamics of firms and call for new comparative research....

  9. The Effectiveness and Economic Efficiency in the Context of Performance Management at the Firm Level

    Directory of Open Access Journals (Sweden)

    Mihaela-Cristina ONICA

    2012-11-01

    Full Text Available Considering that firm performance is incomplete without addressing associated risk to fulfill it, the main objective of this research is to underline the management contribution to the performance and risk of the analyzed enterprise. A detailed financial situation analysis, which are employing annual financial analysis procedures, underling the performance and risks influencing factors, are considering one starting point for addressing the issue. The introduced variables are insuring a whole vision of firm activity and an appropriate strategy for results significance.

  10. Towards an Integrated Framework for Special Economic Zones (SEZs)

    DEFF Research Database (Denmark)

    Aggarwal, Aradhna

    tool to achieve a variety of goals. The drivers of success and economic outcomes of SEZs depend on the strategic approach adopted by policy makers towards SEZs. There is no single recipe of their success or development outcomes. Finally, institutions evolve in the process of development. So must......This paper presents a comprehensive conceptual framework for the rationale, success factors and development outcomes of Special Economic Zones (SEZs), and analyses their performance in selected Asian countries within that framework. It draws on the tenets of the literature on ‘dynamics...

  11. Multilevel approaches and the firm-agglomeration ambiguity in economic growth studies

    NARCIS (Netherlands)

    van Oort, F.G.|info:eu-repo/dai/nl/107712741; Burger, M.J.|info:eu-repo/dai/nl/371741092; Knoben, J.; Raspe, O.

    2012-01-01

    Empirical studies in spatial economics have shown that agglomeration economies may be a source of the uneven distribution of economic activities and economic growth across cities and regions. Both localization and urbanization economies are hypothesized to foster agglomeration and growth, but recent

  12. Multilevel approaches and the firm-agglomeration ambiguity in economic growth studies

    NARCIS (Netherlands)

    Oort, F.G. van; Burger, M.J.; Knoben, J.; Raspe, O.

    2012-01-01

    Empirical studies in spatial economics have shown that agglomeration economies may be a source of the uneven distribution of economic activities and economic growth across cities and regions. Both localization and urbanization economies are hypothesized to foster agglomeration and growth, but

  13. Firm dynamic analysis for urban land use and economic growth modelling

    NARCIS (Netherlands)

    Che'Man, N.; Sabri, S.; Hosni, N.; Timmermans, H.J.P.

    2013-01-01

    In urban growth processes, urbanisation is highly influenced by economic growth which triggers the dynamics of economic agents and land uses. This is consisted of complex subsystems which need sophisticated methods like agent-based modelling and simulation to understand the pattern, behaviour and

  14. Mapping one year’s design processes at an architecture firm specialized in sustainable architecture - How do sustainability certification systems affect design processes?

    DEFF Research Database (Denmark)

    Landgren, Mathilde; Jensen, Lotte Bjerregaard; Heller, Alfred

    2016-01-01

    The current study mapped how a Danish architecture firm integrated sustainability in their projects over a year. All the projects concerned were aimed at being sustainable within the framework of the DGNB certification system. The focus of DGNB is equally divided between environmental, economic...

  15. Economic evaluation and cost-effectiveness thresholds: signals to firms and implications for R & D investment and innovation.

    Science.gov (United States)

    Vernon, John A; Goldberg, Robert; Golec, Joseph

    2009-01-01

    In this article we describe how reimbursement cost-effectiveness thresholds, per unit of health benefit, whether set explicitly or observed implicitly via historical reimbursement decisions, serve as a signal to firms about the commercial viability of their R&D projects (including candidate products for in-licensing). Traditional finance methods for R&D project valuations, such as net present value analyses (NPV), incorporate information from these payer reimbursement signals to help determine which R&D projects should be continued and which should be terminated (in the case of the latter because they yield an NPV important for reimbursement thresholds to reflect the economic value of the unit of health benefit being considered for reimbursement. Thresholds set too low (below the economic value of the health benefit) will result in R&D investment levels that are too low relative to the economic value of R&D (on the margin). Similarly, thresholds set too high (above the economic value of the health benefit) will result in inefficiently high levels of R&D spending. The US in particular, which represents approximately half of the global pharmaceutical market (based on sales), and which seems poised to begin undertaking cost effectiveness in a systematic way, needs to exert caution in setting policies that explicitly or implicitly establish cost-effectiveness reimbursement thresholds for healthcare products and technologies, such as pharmaceuticals.

  16. Firm Dynamics and Markup Variations: Implications for Sunspot Equilibria and Endogenous Economic Fluctuation

    OpenAIRE

    Nir Jaimovich

    2007-01-01

    This paper analyzes how the interaction between firms’ entry-and-exit decisions and variations in competition gives rise to self-fulfilling, expectation-driven fluctuations in aggregate economic activity and in measured total factor productivity (TFP). The analysis is based on a dynamic general equilibrium model in which net business formation is endogenously procyclical and leads to endogenous countercyclical variations in markups. This interaction leads to indeterminacy in which economic fl...

  17. Structuration of precarious employment in economically constrained firms : The case of Dutch agriculture

    NARCIS (Netherlands)

    Kroon, B.; Paauwe, J.

    2014-01-01

    Precarious employment practices such as short-term contracts, low pay and lack of voice have undesired outcomes for workers, because these impede employees in their ethical rights to freedom, well-being and equality. Still, precarious employment practice is common in sectors with restrained economic

  18. Effect of corporate economic performance on firm-level environmental performance in a transition economy

    Czech Academy of Sciences Publication Activity Database

    Earnhart, D.; Lízal, Lubomír

    2010-01-01

    Roč. 46, č. 3 (2010), s. 303-329 ISSN 0924-6460 R&D Projects: GA MŠk LC542 Institutional research plan: CEZ:MSM0021620846 Keywords : Czech Republic * environmental protection * financial performance * pollution Subject RIV: AH - Economics Impact factor: 1.297, year: 2010

  19. Entrepreneurial Growth Aspirations and Familiarity with Economic Development Organizations: Evidence from Canadian Firms

    Directory of Open Access Journals (Sweden)

    Angelo Dossou-Yovo

    2015-01-01

    Full Text Available The purpose of this paper is to investigate the relationship between the entrepreneurship ecosystem and the entrepreneur’s willingness to grow. This study is particularly interested in exploring the relationship between entrepreneur’s familiarity with the key economic development organizations in the entrepreneurship ecosystem and the willingness to grow. Several studies have investigated the growth process in small and medium sized enterprises (SMEs since the case has been made that high growth SMEs contribute to economic growth through job creation. To date, these studies have identified multiple internal and external determinants including their effects on small business growth. There is evidence in the literature that characteristics of the entrepreneurs such as the willingness to grow and the entrepreneur’s network are important factors in growth process. However, the relationship between growth process and the entrepreneur’s networking behavior is yet to be fully understood. Drawing from the entrepreneurship ecosystem literature, the growth process literature and the resource dependence theory, this study uses the business confidence survey from 2011 to 2013, which targeted all businesses across all of Halifax Regional Municipality (HRM in Nova Scotia, Canada, to explore the relationship between the entrepreneur willingness to grow and the propensity to network with key economic development organizations of the entrepreneurial ecosystem. The findings support the assumption that the proportion of businesses that are willing to grow (i.e. hire additional staff and enter new markets within the next twelve months is higher for the group of businesses that are familiar with the key economic development organizations than for the group of businesses that are not familiar with them. However, the results are not homogeneous across all populations. Our findings also indicate that the higher the expectation to enter new markets over the next

  20. Replicating Health Economic Models: Firm Foundations or a House of Cards?

    Science.gov (United States)

    Bermejo, Inigo; Tappenden, Paul; Youn, Ji-Hee

    2017-11-01

    Health economic evaluation is a framework for the comparative analysis of the incremental health gains and costs associated with competing decision alternatives. The process of developing health economic models is usually complex, financially expensive and time-consuming. For these reasons, model development is sometimes based on previous model-based analyses; this endeavour is usually referred to as model replication. Such model replication activity may involve the comprehensive reproduction of an existing model or 'borrowing' all or part of a previously developed model structure. Generally speaking, the replication of an existing model may require substantially less effort than developing a new de novo model by bypassing, or undertaking in only a perfunctory manner, certain aspects of model development such as the development of a complete conceptual model and/or comprehensive literature searching for model parameters. A further motivation for model replication may be to draw on the credibility or prestige of previous analyses that have been published and/or used to inform decision making. The acceptability and appropriateness of replicating models depends on the decision-making context: there exists a trade-off between the 'savings' afforded by model replication and the potential 'costs' associated with reduced model credibility due to the omission of certain stages of model development. This paper provides an overview of the different levels of, and motivations for, replicating health economic models, and discusses the advantages, disadvantages and caveats associated with this type of modelling activity. Irrespective of whether replicated models should be considered appropriate or not, complete replicability is generally accepted as a desirable property of health economic models, as reflected in critical appraisal checklists and good practice guidelines. To this end, the feasibility of comprehensive model replication is explored empirically across a small

  1. The Economic Performance and Size of Firms: the Case of Russian Health Resort Market

    Directory of Open Access Journals (Sweden)

    Nadezda Victorovna Pakhomova

    2017-09-01

    Full Text Available The article shows how external and internal macro-economic factors (the reduction of real income of the population, the depreciation of the local currency to the US dollar in 2014 -2015, the promotion of Crimea as a direction for health and resort services for Russian citizens impact on the financial and economic indicators of health and resort organizations in Russia during 2012–2015. The calculations based on a variety of Federal Service of State Statistics data demonstrate the positive dynamics of the development of regional markets of health and resort services, due to the regional markets of health and resort services of Krasnodar, Stavropol and Altai regions and due to the inclusion of the Federal District of Crimea within the Russian macroeconomic indicators. The econometric model based on a sample of 272 organizations proves the hypothesis about the more beneficial impact of the changes in macroeconomic factors for large health and resort organizations (with a total annual revenue of 400 million roubles compared with smaller organizations. It is expressed in the growth of sales profitability and annual revenue. The calculations have shown that the organization size as an independent variable in a sample of data related to 2014–2015, increased its positive influence on the dependent variable of annual revenue growth comparing to sampling for 2012–2013. The tough financial constraints in the country trigger the discussion of new opportunities and tools for the development of market conditions, which will stimulate the demand for investment in material and technical base renewal and innovations from the side of large health and resort organizations. In addition to improving the transport accessibility of federal resort regions and measures for promoting and improving the quality of the general health and resort infrastructure, there are discussions to create a favorable competitive environment, improve the public procurement system

  2. Thorny roses: The motivations and economic consequences of holding equity stakes in financial institutions for China’s listed nonfinancial firms

    Directory of Open Access Journals (Sweden)

    Liping Xu

    2017-06-01

    Full Text Available The reforms of China’s financial system have significantly changed the country’s financial sector. One noteworthy phenomenon is that many nonfinancial firms have obtained equity stakes in financial institutions. This study investigates the motivations behind and economic consequences of this recent proliferation of investments in financial institutions by nonfinancial listed firms. We find that the motivations for holding equity stakes in financial institutions include alleviating the pressure of industry competition, reducing transaction costs, and diversification to reduce risk. These investments, however, have double-edged effects on the performance of the investing firms. While their investment income increases, their operating income and overall return on assets decrease, as the investment income cannot compensate for the decrease in other operating income. The investing firms’ cost of debt also increases, their cash-holding decreases, and stock price performance does not improve after investing in financial institutions. These effects contrast with the enthusiasm nonfinancial listed firms have for investing in financial institutions. The empirical findings in this study can inform financial industry regulators and decision-makers in listed firms. We advise nonfinancial firms to be cautious when considering investing in financial institutions.

  3. Economic incentives of family controlling shareholders and the monitoring role of non-dominant large shareholders in corporate governance: Evidence from the manufacturing firms in Malaysia

    Directory of Open Access Journals (Sweden)

    Chin Fei Goh

    2014-08-01

    Full Text Available This article explores the economic incentives of dominant controlling shareholders with regard to the expropriation of minority shareholders, on the one hand, and the monitoring role of non-dominant large shareholders in family firms, on the other. The authors argue that family controlling shareholders (or family owners do not share common interests with other shareholders. Drawing on 141 family firms in the manufacturing sector that were listed on Bursa Malaysia (the Malaysian stock exchange from 2003 to 2006, the article finds an inverted U-shaped relationship between excess control rights and a firm's market performance. The findings also show that both the cash flow rights (i.e. claims on cash payouts of family controlling shareholders and the presence of non-dominant large shareholders with the ability to contest control of the firm have a positive relationship with market performance.  This study contributes to the literature by indicating that family owners are unlikely to collude with other large shareholders to expropriate minority shareholders. Furthermore, low levels of excess family-owner control rights are beneficial for market performance because firms may benefit from group affiliations and receive patronage from wealthy owners. However, high levels of excess control rights are understood to be an economic incentive for family owners to expropriate minority shareholders during non-crisis periods.

  4. Firms, Technology and Trade

    OpenAIRE

    Caldera Sanchez, Aida

    2010-01-01

    This doctoral dissertation studies the effect of economic integration on the performance of firms. The ongoing process of global economic integration has been characterized by dismantling of trade barriers and openness to foreign direct investments (FDI). These changes have not only brought opportunities to firms in terms of market access and the possibility to learn about foreign technologies brought in by foreign counterparts. The new economic environment has also posed new challenges throu...

  5. Thermodynamics of firms' growth

    Science.gov (United States)

    Zambrano, Eduardo; Hernando, Alberto; Hernando, Ricardo; Plastino, Angelo

    2015-01-01

    The distribution of firms' growth and firms' sizes is a topic under intense scrutiny. In this paper, we show that a thermodynamic model based on the maximum entropy principle, with dynamical prior information, can be constructed that adequately describes the dynamics and distribution of firms' growth. Our theoretical framework is tested against a comprehensive database of Spanish firms, which covers, to a very large extent, Spain's economic activity, with a total of 1 155 142 firms evolving along a full decade. We show that the empirical exponent of Pareto's law, a rule often observed in the rank distribution of large-size firms, is explained by the capacity of economic system for creating/destroying firms, and that can be used to measure the health of a capitalist-based economy. Indeed, our model predicts that when the exponent is larger than 1, creation of firms is favoured; when it is smaller than 1, destruction of firms is favoured instead; and when it equals 1 (matching Zipf's law), the system is in a full macroeconomic equilibrium, entailing ‘free’ creation and/or destruction of firms. For medium and smaller firm sizes, the dynamical regime changes, the whole distribution can no longer be fitted to a single simple analytical form and numerical prediction is required. Our model constitutes the basis for a full predictive framework regarding the economic evolution of an ensemble of firms. Such a structure can be potentially used to develop simulations and test hypothetical scenarios, such as economic crisis or the response to specific policy measures. PMID:26510828

  6. Prospecting theoretical approaches to understand internationalization of creative economy firms

    Directory of Open Access Journals (Sweden)

    Sílvio Luís de Vasconcellos

    2017-12-01

    Full Text Available We argue that the internationalization process of firms in the creative economy has particular aspects that distinguish it from internationalization of firms in traditional economic sectors. We explore ways in which the international business literature might be helpful for understanding how internationalization takes place in firms whose core business is creation of ideas. We conducted a case study using a focus group technique to investigate a creative economy firm specialized in computer graphics. The firm already does business internationally as a producer of electronic mockup models, but is transitioning to the computer-generated video production industry. Our results suggest that behavioral approaches to international business related to entrepreneurship, as well as country origin effects and networks theory could be useful to expanding knowledge about the internationalization process in such firms, in which creativity is a critical resource.

  7. Entrepreneurship and the Firm

    DEFF Research Database (Denmark)

    Foss, Nicolai Juul; Klein, Peter G.

    While characteristically "Austrian" themes such as entrepreneurship, economic calculation, tacit knowledge and the temporal structure of capital are clearly relevant to the business firm, Austrian economists have said relatively little about management, organization and strategy. This work features...

  8. A Panel Threshold Model of Tourism Specialization and Economic Development

    NARCIS (Netherlands)

    C-L. Chang (Chia-Lin); T. Khamkaew (Tanchanok); M.J. McAleer (Michael)

    2009-01-01

    textabstractThe significant impact of international tourism in stimulating economic growth is especially important from a policy perspective. For this reason, the relationship between international tourism and economic growth would seem to be an interesting empirical issue. In particular, if there

  9. The Failing Firm Defence in EU Merger Control and the Effects of the Economic Crisis on its Development

    OpenAIRE

    Ranta, Pontus

    2016-01-01

    In the fall of 2013 the European Commission cleared two mergers, Nynas/Shell/Harburg Refinery and Aegean/Olympic II, on the basis of the failing firm defence. Since the European Commission had only twice before accepted a concentration on the basis of this defence these clearances raised the question whether the Commission’s interpretation of the failing firm defence had become more lenient. Such a change of practice would have been welcomed both by those who believed that the Commission’s fa...

  10. Firms, crowds, and innovation.

    Science.gov (United States)

    Felin, Teppo; Lakhani, Karim R; Tushman, Michael L

    2017-05-01

    The purpose of this article is to suggest a (preliminary) taxonomy and research agenda for the topic of "firms, crowds, and innovation" and to provide an introduction to the associated special issue. We specifically discuss how various crowd-related phenomena and practices-for example, crowdsourcing, crowdfunding, user innovation, and peer production-relate to theories of the firm, with particular attention on "sociality" in firms and markets. We first briefly review extant theories of the firm and then discuss three theoretical aspects of sociality related to crowds in the context of strategy, organizations, and innovation: (1) the functions of sociality (sociality as extension of rationality, sociality as sensing and signaling, sociality as matching and identity), (2) the forms of sociality (independent/aggregate and interacting/emergent forms of sociality), and (3) the failures of sociality (misattribution and misapplication). We conclude with an outline of future research directions and introduce the special issue papers and essays.

  11. Applied evolutionary economics and economic geography

    OpenAIRE

    Peter Sunley

    2008-01-01

    Applied Evolutionary Economics and Economic Geography aims to further advance empirical methodologies in evolutionary economics, with a special emphasis on geography and firm location. It does so by bringing together a select group of leading scholars including economists, geographers and sociologists, all of whom share an interest in explaining the uneven distribution of economic activities in space and the historical processes that have produced these patterns.

  12. Special issue: Behavioral Economics and Health Annual Symposium.

    Science.gov (United States)

    2011-09-01

    The application of behavioral economics to health and health care has captured the imagination of policymakers across the political spectrum. The idea is that many people are irrational in predictable ways, and that this both contributes to unhealthy behaviors like smoking and holds one of the keys to changing those behaviors. Because health care costs continue to increase, and a substantial portion of costs are incurred because of unhealthy behaviors, employers and insurers have great interest in using financial incentives to change behaviors. However, it is in the details that complexity and controversies emerge. Who should the targets be, and what outcomes should be rewarded? How should incentives be structured, to maximize their effectiveness and minimize unintended consequences? In what situations should we be intervening to affect decisions by people who may prefer to be obese or to smoke, and in what situations should we accept their preferences? To begin to answer these questions, the Penn-CMU Roybal P30 Center on Behavioral Economics and Health held its first annual Behavioral Economics and Health Symposium on March 24-25, 2011 with support from the Robert Wood Johnson Foundation. The symposium drew more than 50 researchers, scholars, and health professionals from a variety of disciplines, including medicine, public health, economics, law, management, marketing, and psychology. They heard perspectives on behavioral economics from public and private funders, the CEO of the University of Pennsylvania Health System, and the CEO of stickK.com, a start-up company that uses online, voluntary commitment contracts to help people achieve their goals. Participants formed eight working groups to review the current state-of-the-art in a variety of clinical contexts and to consider how behavioral economics could inform a research agenda to improve health. This Issue Brief summarizes the findings of these working groups and the symposium.

  13. Economic Sociology and the Theory of the Firm: Lessons from the "Toyota Momentum" in the History of Capitalism

    OpenAIRE

    HEIM, Stéphane

    2016-01-01

    This paper is a revised and expanded version of an editorial, "Toyota, victim of its Production System: why do social sciences still have much to learn from this firm?", published on February 1, 2017 in La Lettre du GIS-Réseau Asie et Pacifique (French and English).

  14. The equity of the initial allocation of the greenhouse gases releases permits to firms: an approach of the public choice by the moral philosophy and the economic analysis

    International Nuclear Information System (INIS)

    Leseur, A.

    2004-10-01

    In order to fight against the climatic change, the European directive 87/2003 provides for 2005 the adoption of a European market of negotiable releases permits but entrusts each state with choosing the method of permits allocation to the concerned domestic firms. Underwriting the reaching of the aim of pollution abatement in minimizing the global costs developed, the permits market is an economical tool of environmental policy chose for this double efficiency. But on which criteria determine the initial allocation? One of the most pertinent referents is the equity. What are the requirements for this in this situation? Seizing on this question, the thesis considers the contribution that can bring the moral and political philosophy, in particular the theories of the distributive justice, taking into account of two important aspects of the problem: 1)the property to distribute has particular characteristics, particularly the negotiability; 2)the attributing agents are firms and not the physical persons. In the first part, the thesis reveals, via the economical analysis, the operation of a permit competitive market and identifies the stakes, both at the pollution decision level than of the firms production in various contexts of market, and at those of the input or output decisions. In the second part, this work deals with the justice theories. The approach consists at first to establish their relevance showing that a firm can be considered as a moral entity, and be subject of duties and rights. Then, the question is to adapt the theories argumentation to this entity. This work emphasizes particularly the idea of a right to the chances equality for the competitiveness. It is then in the tension between this right and the duty to comply with the environmental policy that is found the equitable allocation. (O.M.)

  15. Human Capital-Intensive Firms and Symbolic Value Creation

    Directory of Open Access Journals (Sweden)

    Cezanne Cécile

    2014-06-01

    Full Text Available The aim of this paper is to study the process of symbolic value creation of human capital-intensive firms. Human capital is a critical resource for firms’ activities. Nevertheless, this dimension is often obscured by industrial economists. In the light of critical resource theory, we analyze how taking into account the inalienable and inimitable nature of specific human capital entails a reconsideration of the role and boundaries of the firm. We show that the firm seeks to coordinate the specialization of its key partners within the frame of its economic boundaries to ensure the long-term optimization of its potential of value. Therefore, the value of the firm depends on all the resources that the firm coordinates. Then we focus on the way HCIF can create different values. We suggest that the firm builds its competitive advantage on different forms of values, in particular the symbolic value incorporated in human capital. Finally, on the basis of these considerations, we identify the wealth included in the critical resources of the firm and to bring to light the process of symbolic value creation associated with it. We suggest that the firm is the value creating entity and the customer both recognizes and derives the value created from whatever it is that the firm provides. We propose a definition of this value and a schema of its creation process based on management works attempts. We conclude by proposing paths of research that could fruitfully be explored to further develop this new subject.

  16. SERVICING THE MARKET NICHE – A POSSIBLE SOLUTION FOR THE MAINTENANCE AND/OR SUCCESS OF THE FIRM ON THE MARKET IN THE CONTEXT OF THE GLOBAL ECONOMIC CRISIS

    OpenAIRE

    Doina I. POPESCU

    2013-01-01

    This work shows the importance of servicing the market niche by firms operating in the garment industry in the context of the world economic crisis. The paper presents the necessity of adapting companies’ strategies based on the main trends set out by the global economic crisis. Within this work is presented a study that aims to highlight the degree in which Romanian firms acting in the clothing industry service the market niche, their identification, the measure in which these firms’ managem...

  17. Diversified boundaries of the firm

    OpenAIRE

    Kimura, Koichiro

    2012-01-01

    We analyze diversification of boundaries of local firms in developing countries under the economic globalization. The globalization has an aspect of homogenization of the world economy, but also has another aspect of diversification through international economic activities. Focusing on boundary-level of the firm, this article shows that the diversification from a comparison with boundaries of foreign firms in developed countries is brought by a disadvantage of technology deficit and a home a...

  18. Stability, Specialization and Social Recognition

    NARCIS (Netherlands)

    Gilles, R.P.; Lazarova, E.A.; Ruys, P.H.M.

    2006-01-01

    Yang s theory of economic specialization under increasing returns to scale (Yang 2001) is a formal development of the fundamental Smith-Young theorem on the extent of the market and the social division of labor.In this theory specialization and, thus, the social division of labor is firmly embedded

  19. The Influence of Multiple Specializations on Economic Performance in U.S. Metropolitan Areas

    Directory of Open Access Journals (Sweden)

    Saheum Hong

    2016-09-01

    Full Text Available Scholars have recently been debating how economic structure affects regional economic performance. Regional economic structure typically indicates how the industries in regions are organized. The attribute of industrial organization in regions is typically measured by how the employment in a region is distributed among various sectors. If the employment in a region is highly concentrated on a limited number of sectors, that region is industrially specialized. On the contrary, when the employment is more evenly distributed among various industries, that region is highly diversified in its industrial organization. In this context, some researchers recognized that diversity and specialization are not opposite concepts. Instead, they can coexist, for example in the form of diversified specializations. In this study, this body of literature was extended by formulating an indicator to measure the extent of multiple specializations in regional economies and by examining the effect of multiple specializations on regional economic performance. Empirical analysis showed that specializing in multiple industrial pursuits helped regions to achieve both faster and more stable economic growth.

  20. The use of economic forecasts in Danish economic policy, with special emphasis on energy and the environment

    International Nuclear Information System (INIS)

    Nielsen, Lise

    1998-01-01

    This article discusses the use of economic forecasts in Danish economic policy, with special emphasis on energy and the environment. Two different approaches have been used to forecast energy consumption and its effects on environment in Denmark and other countries. These are the macro economic and the technical approaches. The technical approach is based on technical expertise related to energy production and energy consumption, and the article asks whether the forecasts produced by this approach are superior to macro economic forecasts of energy consumption. This question is interesting because the implications for policy resulting from the two approaches seem to be different. The analysis may have relevance to other areas outside the main economic field. (au) 22 refs

  1. Special Issue: Aspects of Game Theory and Institutional Economics

    Directory of Open Access Journals (Sweden)

    Wolfram Elsner

    2014-09-01

    Full Text Available Classical economists from Adam Smith to Thomas Malthus and to Karl Marx have considered the importance of direct interdependence and direct interactions for the economy. This was even more the case for original institutionalist thinkers such as Thorstein Veblen, John Commons, and Clarence Ayres. In their writings, direct interdependence, interactions (or transactions among agents, with all beneficial and with all problematic consequences, took center stage in economic analysis. Why, for instance, do people adhere to a particular new fashion or trend? Because others do, after eminent people, wealthy people, the “leisure class” (T. Veblen, have made it a symbol for status. The new fashion, however, ceases to serve as such a symbol once too many people follow it. The constant effort put into following trends and adopting fashion turns out to be a social dilemma, driven by Veblenian instincts, such as invidious distinction in predatory societies, conspicuous consumption and emulation. [...

  2. The Use of Exhaustive Micro-Data Firm Databases for Economic Geography: The Issues of Geocoding and Usability in the Case of the Amadeus Database

    Directory of Open Access Journals (Sweden)

    Moritz Lennert

    2015-01-01

    Full Text Available Economic geography has begun to explore the options involved in micro-data. New databases have become available and new techniques and an increase in computer power allow their treatment. However, two major issues impede the use of these datasets: the lack of geocoded spatial location and lack of exhaustivity in coverage. In this article, I explore the possibilities of using large micro-scale firm databases for economic geography in Europe. I show that current evolution in European official spatial data dissemination alows for geocoding of such databases using means that are accessible for researchers with minimal programming knowledge. For the specific case of the Amadeus database of the Bureau Van Dijk, I show that its limitations in terms of coverage have to be taken into acount, but do not hinder its use for analysis. Resulting maps show how the data allows to go further than classic databases such as the Eurostat Structural Business Statistics.

  3. Special considerations regarding indirect expropriation in international economic law

    Directory of Open Access Journals (Sweden)

    Laura-Cristiana Spătaru-Negură

    2017-12-01

    Full Text Available The right to property is a human right that has to be respected so that if the property of a natural or legal person is taken over, the respective person has to be compensated. The right of a state to control the economic business is one of the rights sustained and exercised by the states on a constant basis. This reflects the inherent sovereignty of a state to control its people, incidents and objects found on its territory. Between these rights, the situation of indirect expropriation appears which has been described in the doctrine as being very abstract and rigid, big lacunae existing. The sense of the indirect expropriation and of the international investors’ protection against the indirect expropriation is very ambiguous. Using different methods specific to scientific analyse of the legal phenomenon (e.g. the logical method, the comparative method, the historical method and the quantitative methods, we consider that through this paper we can reach certain results that could be interesting for any legal practitioner or theoretician, this paper intending to present the most relevant cases that could amount to indirect expropriation.

  4. Technological Capability and Firm Performance

    Directory of Open Access Journals (Sweden)

    Fernanda Maciel Reichert

    2014-08-01

    Full Text Available This research aims to investigate the relationship between investments in technological capability and economic performance in Brazilian firms. Based on economic development theory and on developed countries history, it is assumed that this relationship is positive. Through key indicators, 133 Brazilian firms have been analyzed. Given the economic circumstances of an emerging economy, which the majority of businesses are primarily based on low and medium-low-technology industries, it is not possible to affirm the existence of a positive relation between technological capability and firm performance. There are other elements that allow firms to achieve such results. Firms of lower technological intensity industries performed above average in the economic performance indicators, adversely, they invested below average in technological capability. These findings do not diminish the merit of firms’ and country’s success. They in fact confirm a historical tradition of a country that concentrates its efforts on basic industries.

  5. New Firm Survival: Industry versus Firm Effects

    NARCIS (Netherlands)

    D.B. Audretsch (David); P. Houweling (Patrick); A.R. Thurik (Roy)

    1997-01-01

    textabstractRecent studies show that the likelihood of survival differs significantly across firms. Both firm and industry characteristics are hypothesized to account for this heterogenity. Using a longitudinal database of manufacturing firms we investigate whether firm or industry characteristics

  6. Linking response strategies adopted by construction firms during the 2007 economic recession to Porter’s generic strategies

    OpenAIRE

    Tansey, Paul; Spillane, John P.; Meng, Xianhai

    2014-01-01

    The time period bridging the years 2007 to 2012 will be remembered as one characterised by dramatic changes in the Irish and UK construction industries. Construction companies witnessed unprecedented changes in the environment, namely the coincidence of a sharp economic downturn, the significant decline of public works, a reduction in lending, increased competition, and structural changes in the marketplace. Nevertheless, little has been documented on what response strategies construction com...

  7. Division of Labor, Transaction Cost, Emergence of the Firm and Firm Size

    OpenAIRE

    Pak-Wai Liu; Xiaokai Yang

    1999-01-01

    In this paper a general equilibrium model is constructed to explain the emergence of firms and change in firm size by the tradeoff between economies of specialization and transaction cost. We show that firms emerge from the development of division of labor if the transaction efficiency for labor is smaller than that for intermediate goods. Given the emergence of firms, change in the average size of firms (average employment) will depend on the change in transaction efficiency for intermediate...

  8. Fostering Women's Economic Empowerment through Special Economic Zones : Comparative Analysis of Eight Countries and Implications for Governments, Zone Authorities and Businesses

    OpenAIRE

    World Bank; International Finance Corporation

    2011-01-01

    This global report examines the opportunity for special economic zones to promote women's economic empowerment and boost zone and enterprise competitiveness in developing countries. The research covers Bangladesh, China, Costa Rica, Egypt, El Salvador, Jordan, Kenya, and the Philippines. The study focuses on women's economic empowerment in the context of zones at three levels: (i) fair emp...

  9. The Employment Impact of Poland’s Special Economic Zones Policy

    DEFF Research Database (Denmark)

    Jensen, Camilla

    2018-01-01

    >gminas (communes) more likely to be negatively affected by the economic transition. A significant and positive effect of the policy on employment is documented, but with some negative spillovers at the policy level as zones start to spread rapidly. Accounting for covariates, timing, policy spillovers and reducing......In 1994, Poland launched a special economic zones experiment to maintain employment structures outside the major cities. Using difference-in-difference estimations, this paper evaluates whether the policy has been successful in its primary objective, which is to sustain employment in

  10. Toward a Sustainable Low-Carbon China: A Review of the Special Issue of “Energy Economics and Management”

    Directory of Open Access Journals (Sweden)

    Ning Zhang

    2016-08-01

    Full Text Available Severe environmental quality deterioration, along with predatory exploitation of energy resources, are generally associated with economic growth, especially in China. Against this background, the 6th Annual Conference of Energy Economics and Management provides a platform for examining outperforming governance factors and mechanisms of energy economics and policy. Thanks to Sustainability for providing this special issue. This editorial highlights the contents and methodologies of the special issue for this conference, presenting diverse issues in energy economics and management. We also suggest guidelines for future study in energy economics and management.

  11. Rwanda Economic Update, May 2013 : Maintaining Momentum with a Special Focus on Rwanda's Pathway Out of Poverty

    OpenAIRE

    World Bank

    2013-01-01

    The Rwanda economic update reports and synthesizes recent economic developments and places them in a medium term and global context. It analyzes the implications of these developments and policies for the outlook of Rwanda's economy. In this way, these reports contribute to the implementation of the Bank's Africa strategy. The economic update reports cover in each edition a special feature...

  12. Trends in China's Special Economic Zones and Suggestions for Korean Economy

    Directory of Open Access Journals (Sweden)

    Yong Ho Choi

    2003-12-01

    Full Text Available China's Special Economic Zones (SEZs have been entering a new development stage after China's entry into WTO. China has been developing 'China's economic development model', in which SEZs have ideally been combined with FDIs. China's SEZs concentrated in the east coastal region geographically, specialized in secondary industry, and put in practice many important favourable policies. China's SEZs also play an important role in regional development with the growth pole. At the time of entering the WTO, China's SEZs have been faced with new changes. This paper analyses this new change in China's SEZs, and considers the effect to Korea in the view of policy. In the past ten years, Korea has acquired a better development in the field of economic cooperation. The industrial structure of the two countries has become more and more closed. Especially, the FDI cooperation of the past ten years mostly concentrated on China's SEZs. From the view of country's spatial division, Korea needs to adjust FDI its strategy more diversely in investment regions and industries, and it needs more joint cooperation.

  13. On Socio-Economic Roles and Specialisation

    NARCIS (Netherlands)

    Gilles, R.P.; Lazarova, E.A.; Ruys, P.H.M.

    2006-01-01

    Abstract: Xiaokai Yang's theory of economic specialization under increasing returns to scale is a formal development of the fundamental Smith-Young theorem on the extent of the market and the social division of labor. In this theory specialization and, thus, the social division of labor is firmly

  14. The theory of the firm. Vol. 3

    DEFF Research Database (Denmark)

    as an information processor. In addition, the collection features perspectives from business strategy and business history as well as methodological and doctrinal historical perspectives. Including over 60 classic papers, these volumes collect together contributions on the theory of the firm, beginning with Ronald......Firms have for a long time been part of the explanatory set-up of economics. However, it is only recently that economists have felt the need for an economic theory addressing: why firms are different; why firms exist; what determines their boundaries relative to "the market"; and what determines...... their internal organization. This collection documents the rise of the modern theory of the firm during the last two to three decades. It reprints classic writings from a diversity of perspectives, including not only contractual theories of the firm, but also knowledge-based theories and theories of the firm...

  15. Readiness of freight transportation system at special economic zone of Lhokseumawe

    Science.gov (United States)

    Fithra, Herman; Sirojuzilam, Saleh, Sofyan M.; Erlina

    2017-11-01

    Geo-economic advantages of Lhokseumawe and Aceh Utara District lies on the geographical location of Aceh crossed by Sea Lane of Communication (Sloc), the Malacca Strait. Located at the Malacca Strait, the Special Economic Zone (Kawasan Ekonomi Khusus/ KEK) of Arun Lhokseumawe has a comparative advantage to be part of the global production network or the global value chain. This study aims to determine freight transportation system to support KEK Lhokseumawe, especially the availability of multimodal transport and multimodal infrastructure. The result shows that KEK Lhokseumawe driven by SOEs in Lhokseumawe and Aceh Utara is urgent to be realized for economic acceleration and to grow new economic growth in Aceh. Multimodal transport in KEK Lhokseumawe is also available, including Ro-Ro ships, train availability from Dewantara sub-district to Muara Batu Sub-district, various types of truck with small, medium and large capacity. The available multimodal infrastructure includes international sea ports, road network connectivity with structure pavement rating of 94.62%, and railroad tracks indicating that multimodal transportation in KEK Lhokseumawe are ready to utilize. Regulatory requirements relating to the operation of all ports in KEK Lhokseumawe as export / import gate are required and serve the loading and loading activities of Containers, and as a place of origin of goods on the east coast of Aceh.

  16. The creation of special economic zones in China: Positive and negative impacts in its implementation

    Directory of Open Access Journals (Sweden)

    José Manuel Orozco Plascencia

    2011-08-01

    Full Text Available At the end of seventies, Deng Xioaping, President applied a modernization policy in China, that during more than 30 years allow to reach high economic growth rates above 8% average per year. This reform included the instauration of four Special Economic Zones (SEZ in the southeast of the country, three in Guangdong (Shenzhen, Zhuhai and Shantao and one in Xiamen, Fujian.The purpose of this paper is to analyze the backgrounds of SEZ, the reasons of Chinese Government to implement its and the positive impacts and barriers to become operational.The conclusion in this article is that sez arise like an experiment of the Chinese central government economic policy to apply capitalist measures in design previous regions, the most important benefit has been the strong attraction of Foreing Direct Investment, explained in a surplus trade balance, sustanaible economic growht and technological transference. However, the most significative operational barrier has been the legal rigidity in the imported overseas products, a change of nacional politicideology system and problem asociated with burocracy and corruption.

  17. Firm Leverage and the Financial Crisis

    OpenAIRE

    Fatih Altunok; Arif Oduncu

    2014-01-01

    The firm growth dynamics is an important topic since the growth performance of firms is the main source of the economic growth in countries. Generally, crises produce a sharp decline in firms’ growth and this leads to a decline in both the level of employment and the income of households. This paper focuses on the role of firm leverage on the growth performance of the firm during the global financial crisis. We investigate whether the firms that experienced a large leverage increase before th...

  18. Essays in economics: 1. Pre-committed government spending and partisan politics. 2. Investment in energy efficiency: Do the characteristics of firms matter? 3. Information processing and organizational structure

    Science.gov (United States)

    Watkins, William Edward, Jr.

    1. Spending commitments requiring future outlays are important for understanding partisan politics because they prevent a conservative government from scaling back spending programs. In a one-government-good model, a "stubborn liberal" policy maker can use precommitted spending to prevent a later conservative government from imposing spending cuts. In a model where parties differ about spending priorities, re-election uncertainty creates a bias towards higher government spending and higher taxes. 2. The literature on energy efficiency provides examples of profitable technologies that are not universally adopted. Theory indicates that firms should undertake all investments with a positive net present value, and that the discount rate for computing the present value of a project should be the return available on other projects in the same risk class, not on characteristics of the firm. This model is tested by examining whether firms' characteristics influence their decision to join the Environmental Protection Agency's Green Lights program. A discrete choice regression is estimated over a sample of participating and non-participating firms. Missing values in the data matrix are replaced with multiple imputations using the EM algorithm. The results show that: (1) substantial improvements in the power of hypothesis tests can be achieved through imputation of missing data, and (2) characteristics of firms do affect their decision to join Green Lights. 3. Standard theories of the firm stress profit maximization as the foundation for derivation of predictable behavior. Yet evidence continues to accumulate that firms do not act as required by the neoclassical framework. Instead of being represented by ever more elaborate maximization models, the firm can be modeled simply as a network of information-processing agents. The actions of the firm are then a function only of the network structure and the information-processing capabilities of the agents. This approach can be

  19. How should a theory of the firm incorporate advertising?

    OpenAIRE

    Lah, Marko

    2015-01-01

    This article discusses the role of advertising expenses within the economic theory of the firm. In marketing and advertising textbooks advertising expenses are, from the perspective of the economic theory of the firm, viewed too narrowly. In contrast, standard economics textbooks start with the unrealistic perfect competition firm where advertising is not needed, while for the imperfect competition firm they extend the profit maximisation motive and concentrate on the optimisation of advertis...

  20. Results of technical and economical examinations for substantiation of special plant design for reprocessing and radioactive wastes disposal

    International Nuclear Information System (INIS)

    Galkin, A.V.; Baldov, A.N.

    2001-01-01

    In the paper the results of technical and economical examinations for substantiation of special plant design for reprocessing and radioactive wastes disposal are presented. Ground for the examination conducting was Health of Nation Programme ratified by the President and a number of Governmental decisions. The special plant is planned in the Mangystau Region. In the framework of feasibility study the data base by the worldwide known technologies was implemented, on reprocessing and experience of radioactive waste disposal. The technical requirements for the special plant construction are determined. The alternative options by structure content and site location of the special plant and radioactive waste disposal are cited

  1. SUSTENABLE DEVELOPMENT OF THE ROMANIAN ECONOMY BY ADOPTING THE CHINESE MODEL OF SPECIAL ECONOMIC ZONES

    Directory of Open Access Journals (Sweden)

    NEGREA Adrian

    2011-12-01

    Full Text Available The architecture of the Chinese economy began to take shape in the late 1980's, because of the new reforms that the Chinese Communist Party started to take. With the death of Mao Zedong in 1976, the Chinese leadership is taken by Deng Xiaoping, who stated a blitz course in capitalism. The new president encouraged foreign direct investments by creating special economic zones near the costal cities, were foreign companies obtained several tax brakes and other incentives, only to invest in those regions. With the help of statistical data from WTO, IMF, and the World Bank, the current paper analyzes the impact of these special economic zones on the Chinese economy, raging from mutations in the labor market and economic sectors structure and their evolution in the formation of the GDP, FDI inflows, and last but not least external trade and current account situation. On the other hand, the paper tries to make a connection with Romania, computing and predicting, based on the Chinese figures, the way in which the Romanian economy, by creating four economic zones within the counties of Satu Mare, Bihor, Arad, and Constanta, will be able to experience the same growth. The first three counties have been piked up based on their proximity to the Schengen area, and/or on their infrastructure, plain terrain, and a qualified and skilled labour force. Constanta, the only one that resembles with its Chinese counterparts, has been considered because of its capabilities of shipping products right away as they are manufactured. The results would decrease the disparity that exists in revenue levels across Romania, Bucharest leading the group way ahead of the other counties. Foreign direct investments in those areas will attract more others made by the local authorities in the infrastructure (schools, universities, roads, airports, high speed railways. This development will have a direct impact on the current account of the Romania's balance sheet of payments, while

  2. Competition Law and the Bounded Rationality of Firms

    OpenAIRE

    Bhattacharya, Shilpi

    2016-01-01

    Firm rationality plays a role in several aspects of competition law. Yet, the conception of the firm as a rational, profit maximizing entity has been disputed in different disciplines. This literature shows that neoclassical economic assumptions on which competition law is based can fall short of explaining the full range of observed firm behaviour. Accordingly, an alternative conception of the firm as boundedly rational can impact the understanding of firm conduct in competition law. Be...

  3. Peculiarities Of Financial Management In Family Firms

    OpenAIRE

    Martin R. W. Hiebl

    2012-01-01

    The majority of firms in market-oriented countries are family-owned. Despite their significant economic importance for these countries, research focusing on family firms is a rather young field within business research, having intensified starting only in the late 1980s. Research regarding the peculiarities of financial management in family firms is especially scarce. Hence, this paper seeks to synthesize existing research and to theoretically analyze the finance and accounting practices and ...

  4. DESEMPEÑO ECONÓMICO: DIFERENCIAS DE PEQUEÑAS EMPRESAS CLASIFICADAS SEGÚN LA ESTRUCTURA DE LA PROPIEDAD DEL CAPITAL/ECONOMICS PERFORMANCE: DIFFERENCES IN SMALL AND MICRO FIRMS BY CAPITAL-OWNERSHIP CONFIGURATION

    Directory of Open Access Journals (Sweden)

    Zuray MELGAREJO

    2007-09-01

    Full Text Available El objetivo de este trabajo es el estudio del desempeño de la Sociedad Laboral Navarra, a través del análisis de sus resultados económicos y financieros. El período de análisis se refiere a 1994-2003. Compararemos estos resultados con los obtenidos, para el mismo periodo, por la Sociedad Mercantil Navarra, e inferiremos, a partir del estudio comparado, en aquellas características que diferencian, desde el marco de la función financiera, el comportamiento de las Sociedades Laborales (LOFs de las Sociedades Mercantiles (PCFs./The primary purpose of this paper is to assess the performance of the labour-managed firms of Navarre, Spain, through an analysis of their economic and financial measures of performance during the 1994-2003 period. We also conduct a similar analysis of the financial and economic indicators of the mercantile firms of Navarre during the same time frame and identify the indexes that reflect competitive advantage to either type of firm.

  5. Belgian Firms Visit CERN

    CERN Multimedia

    2001-01-01

    Fifteen Belgian firms visited CERN last 2 and 3 April to present their know-how. Industrial sectors ranging from precision machining to electrical engineering and electronics were represented. And for the first time, companies from the Flemish and Brussels regions of the country joined their Walloon compatriots, who have come to CERN before. The visit was organised by Mr J.-M. Warêgne, economic and commercial attaché at the Belgian permanent mission for the French-speaking region, Mr J. Van de Vondel, his opposite number for the Flemish region, and Mrs E. Solowianiuk, economic and commercial counsellor at the Belgian permanent mission for the Brussels-Capital region.

  6. Why Do Distressed Firms Acquire?

    NARCIS (Netherlands)

    Q. Zhang (Quxian)

    2016-01-01

    textabstractAcquisitions made by distressed firms in recent years are economically important. This paper explores the rationale behind such acquisitions using a natural experiment. Exploiting a recent tax change which reduces debt restructuring costs for certain creditors and decreases bankruptcy

  7. Improving the firm's environmental conduct

    DEFF Research Database (Denmark)

    Knudsen, Thorbjørn; Koed Madsen, Tage

    2001-01-01

    lead to strategic advantage and, thus, economic gains at the firm level. In view of the great importance of this claim, the purpose of the present article was to apply resource-based insights in order to develop this reasoning further and provide an empirical test of three hypotheses related...

  8. Essays on Firm Behavior in Developing Economies

    Science.gov (United States)

    Abeberese, Ama Baafra

    The performance of firms is central to growth in developing economies. A burgeoning literature within development economics seeks to understand the behavior of firms in developing countries and the constraints to their performance. This dissertation explores two types of constraints---infrastructure-related constraints and trade-related constraints---faced by manufacturing firms in developing countries. Despite the widely acknowledged importance of infrastructure for economic growth, there has been relatively little research on how infrastructure affects the decisions of firms. Electricity, in particular, is commonly cited by firms in developing countries as a major obstacle to their performance. In the first two chapters, I analyze the responses of firms to two types of electricity constraints, namely electricity prices and electricity shortages. Chapter 1 provides evidence on how electricity prices affect a firm's industry choice and productivity growth using data on Indian manufacturing firms. I construct an instrument for electricity price as the interaction between the price of coal paid by power utilities, which is arguably exogenous to firm characteristics, and the initial share of thermal generation in a state's total electricity generation capacity. I find that, in response to an exogenous increase in electricity price, firms reduce their electricity consumption and switch to industries with less electricity-intensive production processes. I also find that firm output, machine intensity and labor productivity decline with an increase in electricity price. In addition to these level effects, I show that firm output and productivity growth rates are negatively affected by high electricity prices. These results suggest that electricity constraints faced by firms may limit a country's growth by leading firms to operate in industries with fewer productivity-enhancing opportunities. Chapter 2 examines the impact of electricity shortages on firm investment. I

  9. Agency Costs, Firm Value, and Corporate Investment

    NARCIS (Netherlands)

    M. Teixeira de Vasconcelos (Manuel)

    2012-01-01

    textabstractOften firms lack the necessary internal resources to pursue all profitable investment opportunities at their disposal. One of the most important roles of financial markets is to allocate resources from different economic agents to the firms that will better employ them, thereby enabling

  10. Characterizing the technology firm : An exploratory study

    NARCIS (Netherlands)

    Grinstein, A.; Goldman, Arieh

    Technology firms occupy a central position in modern economies. They drive economic growth, productivity gains and have created new industries and innovative products. Many will agree that technology firms are distinguished from others in their emphasis on technological activities. Since this

  11. Female Directors, Board Committees and Firm Performance

    NARCIS (Netherlands)

    Green, Colin P.; Homroy, Swarnodeep

    A number of studies have found little economic impact of board gender diversity on firm performance. We return to this issue in the context of large European firms. Our contribution is twofold. First, using information on the gender of CEOs children as a source of exogenous variation in female

  12. A resource based view to small firms' sustainable competitive advantages: A case of Iranian small firms

    Directory of Open Access Journals (Sweden)

    Ali Reza Babakhan

    2012-10-01

    Full Text Available During the last decades, the importance of small firms as one of the main economical parts in each country has been proved. Considering to the resources limitation in one hand, and the competitive global market in the other hand, it is very important that firms can obtain sustainable competitive advantages (SCAs to compete with other rivals. This paper, at the first step, tries to explore the potentially SCAs of Qom's small firms by using of Structural Equation Model (SEM. Then, the real current situation of firms in using these competitive advantages has been examined. The results tell that except firms' location, other potentially SCAs do not have acceptable condition.

  13. The Industrial Specialization and Economic Contribution of the Smartphone Supply Chain: The Case of Apple and HTC

    OpenAIRE

    Wen-Nan Tsan; Chi Chang; Bo-Chi Lin; Wen-Yao Han; Nan-Shiun Chu

    2012-01-01

    This study examines the linkage between industrial specialization and economic contribution in the smartphone component industry. The value created from the manufacturing process may shift the leading positions of countries involved in the supply chain. In turn, the regional hierarchy will further influence the slicing up of the smartphone component value chain based on each country’s comparative advantages. The economic contribution from the Apple and HTC supply chains are analyzed in terms ...

  14. Firm size and taxes

    OpenAIRE

    Chongvilaivan, Aekapol; Jinjarak, Yothin

    2010-01-01

    The scale dependence in firm growth (smaller firms grow faster) is systematically reflected in the size distribution. This paper studies whether taxes affect the equilibrium firm size distribution in a cross-country context. The main finding is that the empirical association between firm growth and corporate tax (VAT) is positive (negative), with notable differences in the response of manufacturing firms and that of the others. We draw implications for recent debate on the impact of taxes and...

  15. Experimental Course Development in Introductory Economics at Indiana University. The Journal of Economic Education, Special Issue No. 4, Fall 1975.

    Science.gov (United States)

    Saunders, Phillip

    A two part experimental introductory college economics course is described. Data on the combination macroeconomics and microeconomics course have been collected over eight consecutive terms and are presented in nine chapters. Chapter I describes course goals as stimulation of student interest, teaching a few basic economic principles, helping…

  16. LA SOCIEDAD COOPERATIVA: MOTIVACIÓN Y COORDINACIÓN. UN ANÁLISIS DESDE LAS TEORÍAS ECONÓMICAS DE LA EMPRESA Y LA ECONOMÍA SOCIAL. / THE COOPERATIVE FIRM: MOTIVATION AND COORDINATION. AN ANALYSIS FROM THE ECONOMIC THEORY OF THE FIRM AND THE SOCIAL ECONOMY

    Directory of Open Access Journals (Sweden)

    Carmen MARCUELLO SERVÓS

    2013-01-01

    Full Text Available Este trabajo analiza el contexto de motivación y coordinación en la sociedad cooperativa, desde las teorías económicas de la empresa, utilizando como marco de referencia los Principios Cooperativos planteados por la Alianza Cooperativa Internacional y los aspectos mas relevantes planteados por la literatura relacionada al tema. Para esto se desarrolla un modelo de análisis compuesto de cuatro dimensiones asociadas a: gobierno organizacional, pertenencia a la organización, obtención y utilización de recursos y relaciones internas y con el entorno, las ventajas e inconvenientes identificados dentro del contexto de motivación y coordinación de la sociedad cooperativa. Se concluye que las cooperativas constituyen un modelo organizacional que ubica a las personas en el centro del análisis de la actividad económica y que sus desventajas surgen a partir de criterios de evaluación que no siempre se ajustan a la naturaleza de estas organizaciones, haciendo necesario ampliar el criterio de análisis de organizaciones con características diferentes a la empresa convencional. / This paper analyzes both the motivation and the coordination context in the cooperative firm, from the economic theory of the firm and the theory related to social economy, using two framework: 1 the cooperative principles raised by the International Cooperative Alliance (ICA, 2005 and 2 the most relevant aspects proposed by the economic literature related to the subject. From this emerges an analysis model composed by four dimensions related to: Organizational Governance, Organizational Membership, Obtainment and Utilization of Resources and Internal and environmental relationship, the advantages and disadvantages identified on the cooperative firm coordination and motivation context. We conclude that the cooperative firm is an organizational model that locates the persons in the middle of the economic activity. Likewise, its disadvantages emerge from the consideration

  17. Men in Limbo: Former Students with Special Educational Needs Caught between Economic Independence and Social Security Dependence

    Science.gov (United States)

    Skjong, Gerd; Myklebust, Jon Olav

    2016-01-01

    Individuals in their mid-thirties are expected to be employed and economically independent. However, people with disabilities and health problems--for example, former students with special educational needs (SEN)--may have problems in this domain of adult life. In Norway, individuals with SEN frequently rely on social security and support measures…

  18. Graduated Sovereignty and Global Governance Gaps: Special Economic Zones and the Illicit Trade In Tobacco Products.

    Science.gov (United States)

    Holden, Chris

    2017-07-01

    Illicit trade in tobacco products has been a significant problem globally for many years. It allows cigarettes to be sold far below their legal price and thus contributes to higher consumption, morbidity and mortality, and deprives state treasuries of a substantial amount of revenue. This article identifies special economic zones (SEZs), particularly free trade zones, as a key conduit for this illicit trade. The development of SEZs as weak points in the global governance architecture is explained with reference to the concept of 'graduated sovereignty', whereby the uniform management of territory by modern states has given way to a more spatially selective form of territorial governance, in which some slices of territory are more fully integrated into the world economy than others via various forms of differential regulation. Attempts to comprehensively (re)regulate SEZs, in the face of growing evidence of the dysfunctionalities that they can engender, have so far been unsuccessful. It is concluded that the neo-liberal global economy has facilitated a regulatory 'race to the bottom', a problem that can only ultimately be overcome by international negotiation and agreement.

  19. Technical and economical prerequisites of special district-heating nuclear power plant development

    International Nuclear Information System (INIS)

    Baturov, B.B.; Boldyrev, V.M.; Losev, V.L.; Sigal, M.V.

    1983-01-01

    Results are presented of technical and economical analysis of advisability of constructing combined Nuclear Power and Heating Plants (NPHP) assuring the possibility of their location near the areas of heat power consumption in case of observing a given degree of radiation safety for population and personnel. Specific features determining the choice of turbine-driven units for such plants are analyzed. Conditions of competiveness of a specialized NPHP with alternative power units, NPHP based on the WWER-1000 reactor and district heating plants (NDHP), are determined. Analysis of design specifications of NPHP with two VK-500 reactor units and structures of capital investments in such a plant reveal that an increase in the total capital investments in the NPHP would not exceed 2% with account of the difference in costs for grid heaters and a corresponding change in dimensions of operation rooms as well as changes in costs of heat removal system (within one site) at the TK turbine replacement by the T turbine

  20. Foreign Firms, Domestic Wages

    DEFF Research Database (Denmark)

    Malchow-Møller, Nikolaj; Markusen, James R.; Schjerning, Bertel

    to the firm?s productivity. Foreign-owned firms have, on average, higher productivity in equilibrium due to entry costs, which means that low-productivity foreign firms cannot enter. Foreign firms have higher wage growth and, with some exceptions, pay higher average wages, but not when compared to similarly...... large domestic firms. The empirical implications of the model are tested on matched employer-employee data from Denmark. Consistent with the theory, we find considerable evidence of higher wages and wage growth in large and/or foreign-owned firms. These effects survive controlling for individual...... characteristics, but, as expected, are reduced significantly when controlling for unobservable firm heterogeneity. Furthermore, acquired skills in foreign-owned and large firms appear to be transferable to both subsequent wage work and self-employment...

  1. Report: future industrial solid waste management in pars Special Economic Energy Zone (PSEEZ), Iran.

    Science.gov (United States)

    Mokhtarani, Babak; Moghaddam, Mohammad Reza Alavi; Mokhtarani, Nader; Khaledi, Hossein Jomeh

    2006-06-01

    The Pars Special Economic Energy Zone (PSEEZ) is located in the south of Iran, on the northern coastline of the Persian Gulf. This area was established in 1998 for the utilization of south Pars field oil and gas resources. This field is one of the largest gas resources in the world and contains about 6% of the total fossil fuels known. Petrochemical industries, gas refineries and downstream industries are being constructed in this area. At present there are three gas refineries in operation and five more gas refineries are under construction. In this study, different types of solid waste including municipal solid waste (MSW) and industrial wastes were investigated separately. The aim of the study was to focus on the management of the industrial wastes in order to minimize the environmental impact. In the first stage, the types and amounts of industrial waste in PSEEZ were evaluated by an inventory. The main types of industrial waste are oil products (fuel oil, light oil, lubricating oil), spent catalysts, adsorbents, resins, coke, wax and packaging materials. The waste management of PSEEZ is quite complex because of the different types of industry and the diversity of industrial residues. In some cases recycling/reuse of waste is the best option, but treatment and disposal are also necessary tools. Recently a design has been prepared for a disposal site in PSEEZ for the industrial waste that cannot be reused or recycled. The total surface area of this disposal site where the industrial waste should be tipped for the next 20 years was estimated to be about 42 000 m2.

  2. Essays on Family Firms

    OpenAIRE

    Zhou, Haoyong

    2012-01-01

    The dissertation examines corporate performance and capital structure of family firms, contributing to the limited empirical research on family firms. Family firms are prevalent in national economies all over the world. It is the prevalence that makes family firms receive increasing attentions from academia. The dissertation consists of an introduction and three chapters. Each chapter is an independent paper. The first chapter is a joint work with Professor Morten Bennedsen and...

  3. Transformation of Manufacturing Firms to Servitisation Firms

    DEFF Research Database (Denmark)

    Lin, Chih-Cheng; Ma, Zheng; Tanev, Stoyan

    2014-01-01

    It is crucial for the manufacturing SMEs to reconsider their business strategy in order to be able to launch customer-centric solutions. This ability is associated with a paradigm shift from a product-orientation to service-orientation. One of the major challenges to success in transforming...... a traditional manufacturing firm to service-oriented firms is the conspicuous lack of publications in this research stream. Applying a case study research approach, this study explores the transformation model for manufacturing SMEs to servitisation firms by adopting a network approach, and reveals...

  4. The effect of innovative activity in firm performance and development: Analysing data from eurozone

    Directory of Open Access Journals (Sweden)

    Ilias A. Makris

    2016-06-01

    Full Text Available Purpose – The purpose of this paper is to examine the effect of Innovative Activity on firm performance and growth. Active Research and Development is considered to be directly related with development, prosperity and growth, in micro and macro level and a key factor in hindering economic recession. Design/methodology/approach – We analyse economic data from listed firms of selected eurozone country-members in order to associate Research and Development with performance indicators in firm and country level. For that purpose, several firm data were collected from WorldScope data base and macroeconomic data from Worldbank database. The period examined is between 2002 and 2012, with a special focus on current financial crisis (after 2007. The empirical process includes, descriptive statistics and logistic regression analysis. Findings – Findings indicate the crucial effect of innovative process in economic performance and development in firm and country level. The latter highlights the urgent need for public support in order to spur innovative activity and high-tech exports, especially in countries that were heavily affected by recession. Research limitations/implications – Some research limitations are the large number of missing cases in WordScope database, as many firms after the beginning of current crisis exit stock market. Furthermore, the other part of the economy, the Small and Medium Enterprises does not exist in the analysis, as listed firms are mainly large and mature companies. Originality/value – The results tend to highlight the need for common policy measures in eurozone, in regard to such issues, instead of imposing horizontal budgetary constraints in specific countries (like Southern Europe, hindering the vicious recessionary circle.

  5. Can Students Learn Economics and Personal Finance in a Specialized Elementary School?

    Science.gov (United States)

    Posnanski, Tracy J.; Schug, Mark C.; Schmitt, Thomas

    2007-01-01

    Statistics from a number of surveys indicate there is a high rate of economic and financial illiteracy in the United States. Several other studies have pointed out that problems related to the widespread lack of economic and financial understanding have serious consequences on the future economic well-being of many citizens. Financial and economic…

  6. Economic impact and market analysis of a special event: The Great New England Air Show

    Science.gov (United States)

    Rodney B. Warnick; David C. Bojanic; Atul Sheel; Apurv Mather; Deepak Ninan

    2010-01-01

    We conducted a post-event evaluation for the Great New England Air Show to assess its general economic impact and to refine economic estimates where possible. In addition to the standard economic impact variables, we examined travel distance, purchase decision involvement, event satisfaction, and frequency of attendance. Graphic mapping of event visitors' home ZIP...

  7. Firm Decisions: Determinants of Investments

    OpenAIRE

    Ionescu Alexandra

    2011-01-01

    The investment decision is part of a companies’ investment strategy. Defined as a logical set of technical and economic information, the investment strategy determines the main objectives of the firm regarding its investments, based on studies, analysis and simulations. It also establishes the actions to be undertaken in order to achieve the objectives, methods of achieving them, sources of funding and resource allocation methods. Still, all these are influenced by several factors. The invest...

  8. Internal Capital Market Controls and Financial Performance in Multidivisional Firms.

    OpenAIRE

    Hill, Charles W L

    1988-01-01

    It is proposed that, within the population of M-form firms, the control systems necessary to realize economic benefits from interrelationships between subunits o f a firm are incompatible with the systems necessary to realize benef its from an M-form type internal capital market. This hypothesis is t ested on 156 large U.K. firms. Questionnaire data are used to classif y the firms according to their internal control characteristics. The findings provide tentative support for the hypothesis. C...

  9. Housing the Mobile Entrepeneur. The location behavior of firms in urban residential neighbourhoods

    NARCIS (Netherlands)

    Risselada, A.H.

    2013-01-01

    Changing economic production processes have opened up new locational demands for firms and have led to an increasingly diverse firm population displaying fragmented location patterns. This research focuses on those spatial configurations that fit the current economic fragmentation and changing

  10. Performance of Patenting Firms

    DEFF Research Database (Denmark)

    Madsen, Erik Strøjer; Smith, Valdemar; Nielsen, Anders Østergaard

    2000-01-01

    Most countries focus on industries with high technology and the governments grant subsidies to innovating firms. However, there has been remarkable few studies of the performance of innovative firms or industries. This study examines the performance of patent active firms compared to the non-patenting...... firms within the manufacturing sector in Denmark. Performance is measured both by growth in employment as well as in the return on equity and profit share in turnover. The results suggest that differences in performance of patenting and non-patenting firms are very small, which questions the political...

  11. International Specialization

    DEFF Research Database (Denmark)

    Kleindienst, Ingo; Geisler Asmussen, Christian; Hutzschenreuter, Thomas

    2012-01-01

    Whether and how international diversification and cross-border arbitrage affects firm performance remains one of the major unresolved research questions in the strategy and international business literatures. We propose that knowing how much a firm has internationally diversified tells us very...... little about performance implications, if we do not know, and do not ask, how the firm has diversified. Therefore, building on the two broad arguments of operating flexibility and location-specific commitment, we develop a theoretical framework that focuses on the extent to which a firm's international...... arbitrage strategy is characterized by specialization versus replication and argue that these different strategies may have differential impact on profitability and risk reduction. Developing a sophisticated measure of international specialization and using a unique panel data set of 92 German MNEs to test...

  12. Radiation measurements at the Clark Special Economic Zone (former US military base)

    International Nuclear Information System (INIS)

    Duran, Emerenciana B.; Yulo-Nazarea, Teresa; Garcia, Teofilo Y.; De Vera, Cecile M.; Reyes, Rolando; Nato, Alejandro Q.; Asada, Antonio A.

    1999-01-01

    The Philippine Nuclear Research Institute (PNRI) measured radiation levels at the Clark Special Economic Zone (CSEZ) using a carbon gamma-ray spectrometric system (Exploration Gr-650) equipped with a Nal detector and global positioning system in 1998. The measurement covered approximately 131 km of CSEZ road network and generated 6875 data. Soil and water samples within the specified area were also collected for specific radionuclide activity analyses using high pressure germanium (HPGe) detector. The Health Physics Research Section (HPRS) of the PNRI has earlier established the average baseline level of absorbed dose rate received by the Filipino population due to primordial (naturally-occurring) radionuclides ( 238 U, 232 Th and 40 K) at 45 nGy h -1 (n = 1645 locations) with ranges from 5 to 74 nGy h-1. The estimated average absorbed dose rate in 23 countries by the United National Scientific Committee on the Effect of Atomic Radiation (UNSCEAR, 1982) was reported at 55 nGy h -1 . The average absorbed dose rate in air measured within CSEZ is 26.3 ± 6.68 nGy h -1 with ranges from 13.27 to 37.93 nGy h-1 . This average value is within the range of values observed in other parts of the country outside of CSEZ and hence can be attributed to natural source of radiation, not man-made sources. To confirm the above measurements, the contribution of man-made sources to the total dose rate measured was assessed further. Evaluation of natural and man-made sources of radiations is achieved through count rate ratio measurements of low energy, 35-350keV, (natural radiation) and high energy, 350-2800 keV, (anthropogenic radiation) spectra of gamma radiation. The ratios of low to high energy remained practically constant throughout the entire area monitored. Initial analyses of soil and water samples collected in areas of interest within the CSEZ for specific radionuclides using the HPGe detector indicated activity concentrations within baseline levels of these radionuclides

  13. Comportements des firmes et commerce international

    OpenAIRE

    Joël Thomas Ravix; Olivier Sautel

    2007-01-01

    Growth of international outsourcing, has been a dominant feature of the international economy. Recent theoretical developments have focused on firm behaviour and its consequences on trade structure, through the introduction of the modern theory of the firm. In a first section, we link this new approach with previous explanations of vertical specialization (intra-industry trade and Multinational Corporation). In a second section, we present methodology and results of these new developments, wh...

  14. Inter-firm and intra-firm efficiency measures

    NARCIS (Netherlands)

    Oude Lansink, A.G.J.M.; Silva, E.; Stefanou, S.

    2001-01-01

    Intra-firm efficiency involves computing a particular firm's efficiency degree over time relative to the firm-specific production frontier. Inter-firm efficiency reveals a particular firm's performance over time relative to the ``best practice frontier'' among the set of comparable firms. These

  15. India's New Mandate against Economic Apartheid in Schools <Special Issue : Right to Education>

    OpenAIRE

    Juneja, Nalini

    2014-01-01

    In most countries, children attend the common neighbourhood school, especially at the compulsory stage. In India however, in keeping with its highly stratified and hierarchically oriented society, schools and parents in India tend to choose each other based largely on socio-economic criteria. India’s new law on right to education attempts to put an end to this socio economic segregation by mandating the admission and free education of children from economically weaker sections in all private ...

  16. Re-Spatializing development: Reflections from South Africa’s recent re-engagement with planning for Special Economic Zones

    Directory of Open Access Journals (Sweden)

    Etienne L. Nel

    2014-07-01

    Full Text Available In 2014 the South African government formally sanctioned the establishment of Special Economic Zones (SEZs in that country. The importance attached to SEZs reflects a clear return to spatially-based economic interventions following the recognition of the persistence of deep-rooted structural and spatial inequalities in the country. This paper discusses South Africa’s past and present involvement in processes of spatial economic development and how the SEZ concept has emerged. The potential of SEZs is assessed relative to local experience with the lack-lustre performance of what were termed Industrial Development Zones (IDZs since 2001. While re-engagement with issues of how to address ‘uneven geographical development’ is clearly significant, it would be difficult to argue that SEZs will achieve guaranteed success.

  17. Evolving subsidiary roles and regional economic integration in Europe (special editorial)

    NARCIS (Netherlands)

    Filippov, S.; Duijsters, G.M.

    2012-01-01

    The focus of this paper is on the impact of regional economic integration on changing roles and strategies of overseas subsidiaries. the literature has acknowledged the positive impact of regional economic integration on the investment attractiveness of member states participating in a regional bloc

  18. Essays in Institutional Economics, with special focus on Muslim-majority countries

    OpenAIRE

    Gouda, Moamen

    2014-01-01

    This thesis is an attempt to gain a better understanding of how institutions, whether formal or informal, influence individual- and societal-level economic choices, especially in the Muslim-majority countries. It consists of six research papers that contribute to the economic analysis of institutions. The first paper, published in the Journal of World Intellectual Property in 2011, investigates the relationship between intellectua...

  19. IV Estimation of a Panel Threshold Model of Tourism Specialization and Economic Development

    NARCIS (Netherlands)

    C-L. Chang (Chia-Lin); T. Khamkaew (Tanchanok); M.J. McAleer (Michael)

    2010-01-01

    textabstractThe significant impact of international tourism in stimulating economic growth is especially important from a policy perspective. For this reason, the relationship between international tourism and economic growth would seem to be an interesting and topical empirical issue. The purpose

  20. Challenges to socio-economic research in a changing society - with a special focus on Greenland

    DEFF Research Database (Denmark)

    Poppel, Birger; Rasmussen, Rasmus Ole; Winther, Gorm

    2005-01-01

    The process of changes in Arctic societies has been from a cultural order to an economic order, and from a closed society based on barter and subsistence to a society based on economic exchange through monetary means. Consequently, understanding the currents of change requires a definite focus...

  1. Foreword to the Special Issue on "Dynamic Models in Economics and Finance"

    Science.gov (United States)

    Gardini, Laura; Kubin, Ingrid; Tramontana, Fabio; Wagener, Florian

    2018-05-01

    International workshops on Dynamic Models in Economics and Finance (MDEF) take place every two years in Urbino (Italy); since the inception of the series in 2000, there have been nine editions. The subject has become a central topic for scholars working on economic dynamics. In 2016 the workshop was held under the auspices of University of Urbino "Carlo Bo" , DESP1

  2. GROWTH AND VENTURE CAPITAL INVESTMENT IN TECHNOLOGY-BASED SMALL FIRMS THE CASE OF HUNGARY

    Directory of Open Access Journals (Sweden)

    Becsky Nagy Patricia

    2014-07-01

    Full Text Available Venture capital backed enterprises represent a low proportion of companies, even of innovative ones. The research question was, whether these companies have an important role in innovation and economic growth in Hungary compared to other countries. In the first part of the article I present the theoretical background of technology-based small firms, highlighting the most important models and theories of the economic impact and the special development of innovative technology-oriented small firms. In the second part of the article I present the status of the most important indicators of innovation in connection with entrepreneurship, than I elaborate on the measures of start-ups, mainly the high-tech ones with high-growth potential. I describe the current position of venture capital industry, detailing the venture capital investments, with particular emphasis on classical venture capital investments that points out the number and the amount of venture capital investments financing early stage firms with high-growth potential. At the end I summarize the status of Hungarian technology-based small firms and their possibilities to get financial sources form venture capital investors, with regards to the status and the prospects of the JEREMIE program. In Hungary the number of internationally competitive firms, ready and willing to obtain venture capital, is much lower than in the US or Western European countries. Hungary could take advantage of its competitive edges in some special fields of innovation. The efficiency of information flow would reduce the information gap between the demand and the supply side of the venture capital market and more Hungarian firms could be internationally successful through venture capital financing. The recent years’ policy and special programs like JEREMIE generated more transactions, that helped to inform the entrepreneurs about venture capital and helped to co-invest public resources with private equity more

  3. Multinational Firms and The New Trade Theory

    OpenAIRE

    James R. Markusen; Anthony J. Venables

    1995-01-01

    A model is constructed in which multinational firms may arise endogenously. Multinationals exist in equilibrium when transport and tariff costs are high, incomes are high, and firm-level scale economies are important relative to plant-level scale economies. Less obvious, multinationals are more important in total economic activity when countries are more similar in incomes, relative factor endowments, and technologies. The model may thus be useful in explaining several stylized facts, includi...

  4. Cost Focussed Firms and Internet Usage

    OpenAIRE

    Joanne Loundes

    2002-01-01

    This paper looks at Internet usage by Australian firms that have a cost focussed competitive strategy. The data source for this analysis is the Melbourne Institute Business Survey, conducted by the Melbourne Institute of Applied Economic and Social Research. The survey was conducted in late 2001, and targeted large Australian firms. Instrumental variables estimation found that cost-focussed organizations utilised the Internet more intensively for both internal organizational activities and ex...

  5. Darwin's invisible hand: Market competition, evolution and the firm

    NARCIS (Netherlands)

    Johnson, D. D. P.; Price, M. E.; van Vugt, M.

    2013-01-01

    Competition among firms has been suggested to reflect the ruthless logic of Darwinian selection: a free market is a struggle for survival, in which successful firms survive and unsuccessful ones die. This view appears to bolster three pillars of neoclassical economics: (1) that economic actors are

  6. Firm decisions and market responses : Three accounting essays

    NARCIS (Netherlands)

    van Amelsfoort, I.Q.H.

    2012-01-01

    Firms operate in a complex economic environment where they interact with a broad base of stakeholders. Stakeholders are interested in the economic environment of the firm and its prospects to determine the value of their claims. For this valuation a wide range of information sources is used which

  7. Gender Segregation Small Firms

    OpenAIRE

    Kenneth R Troske; William J Carrington

    1992-01-01

    This paper studies interfirm gender segregation in a unique sample of small employers. We focus on small firms because previous research on interfirm segregation has studied only large firms and because it is easier to link the demographic characteristics of employers and employees in small firms. This latter feature permits an assessment of the role of employer discrimination in creating gender segregation. Our first finding is that interfirm segregation is prevalent among small employers. I...

  8. Globalisation of services production: Economic and social upgrading in support-service industry catering to international ICT-ITES firms in Mumbai

    NARCIS (Netherlands)

    Kumar, R.

    2016-01-01

    The ICT-ITES sector in India has been a major driver of economic growth and is deemed to provide a range of opportunities for cognitive-cultural (knowledge) workers. In the past decade, extensive research has been conducted on access to the sector and opportunities for upward labour mobility.

  9. Modularity and Economic Organization

    DEFF Research Database (Denmark)

    Sanchez, Ron; Mahoney, Joseph T.

    This paper addresses modularity as a basis for organizing economic activity. We first define the key concepts of architecture and of modularity as a special form of architecture. We then suggest how modular systems of all types may exhibit several properties of fundamental importance to the organ......This paper addresses modularity as a basis for organizing economic activity. We first define the key concepts of architecture and of modularity as a special form of architecture. We then suggest how modular systems of all types may exhibit several properties of fundamental importance...... to the organization of economic activities, including greater adaptability and evolvability than systems that lack modular properties. We draw extensively on our original 1996 paper on modularity and subsequent research to suggest broad theoretical implications of modularity for (i) firms' product strategies...... markets. We also discuss an evolutionary perspective on modularity as an emergent phenomenon in firms and industries. We explain how modularity as a relatively new field of strategy and economic research may provide a new theoretical perspective on economic organizing that has significant potential...

  10. Capital market financing, firm growth, and firm size distribution

    OpenAIRE

    Didier Brandao,Tatiana; Levine,Ross Eric; Schmukler,Sergio L.

    2015-01-01

    How many and which firms issue equity and bonds in domestic and international markets, how do these firms grow relative to non-issuing firms, and how does firm performance vary along the firm size distribution? To evaluate these questions, a new data set is constructed by matching data on firm-level capital raising activity with balance sheet data for 45,527 listed firms in 51 countries. T...

  11. Are Family Firms Better Performers during Financial Crisis?

    DEFF Research Database (Denmark)

    Zhou, Haoyong

    (Italy) during the period 2006-2010, I give empirical evidences examining the performance of family firms vis-à-vis non-family firms during the current financial crisis. I find that broadly defined family firms, comprising 35 percent of the sample, do not outperform non-family firms during the crisis...... that in the financial crisis, founder firms bear the least agency cost and Tobin’s Q is not a good measure of corporate performance.......Despite extensive researches on efficiency of family firms in normal or good economic times, we know rather little about whether family firms are superior performers in recession times. Using a dataset covering firms from S&P 500 (US), FTE100 (UK), DAX 30 (Germany), CAC 40 (France) and FTSE MIB 40...

  12. Review of regional economic models with special reference to labor impact assessment

    Energy Technology Data Exchange (ETDEWEB)

    Ferris, G.; Mason, B.

    1979-06-01

    This paper reviews several regional economic models and examines the capabilities of these models for assessing the total employment impacts of solar energy adoption. Five generic analytic methods are discussed: economic base analysis, shift-share analysis, demographic-economic interaction models, input-output analysis, and industrial location analysis. Ten regional models incorporating some aspect of these methods are reviewed. From the model review, the conclusion is drawn that there is no single model that fits all of the necessary criteria for planned research efforts. Models that appear to hold promise are the Economic Activity Analysis (EAA) Model, the Regional Industrial Multipliers System (RIMS), the Multiregion, Multi-industry (MRMI) Model, and the MULTIREGION model.

  13. Decentralization and public expenditure: Does special local autonomy affect regional economic growth?

    Directory of Open Access Journals (Sweden)

    Martapina Anggai

    2018-04-01

    Full Text Available This study examines the relationship between public expenditure within regional autonomy policy and economic growth in West Papua and Papua provinces. We distinguish two kinds of expenditure’s decentralization – operational and capital – and also private expenditures. We use an unbalanced panel data over the period of 2007-2010 to investigate those expenditures, whether they enhance regional economic growth or not. We find that the government’s operating and private expenditures have a positive effect on local economic growth, but there is no relationship between capital expenditure’s decentralization on economic growth. The findings did not conform to a-priori efficiency expectations, which suggest needing to reform regional autonomy and fiscal decentralization policy in both provinces.

  14. Interaction of Economic Freedom and Foreign Direct Investment Globally: Special Cases from Neglected Regions

    Directory of Open Access Journals (Sweden)

    Yhlas Sovbetov

    2017-06-01

    Full Text Available This paper studies the macroeconomic impact of economic freedom on foreign direct investments inflows in both global and regional panel analyses involving 156 countries through the period of 1995-2016. Unlike to prior literature, it includes often neglected nations such as Fragile and Conflict-Affected states, Sub-Saharan, Oceanian, and Post-Soviet countries. The paper finds a positive impact of economic freedom on FDI under fixed-effects model in global case where a unit change in economic freedom scales FDI inflows up to 1.15 units. More specifically, all 9 regions also refer to positive and significant impact of economic freedom on FDI. The highest impact is recorded in European countries, whereas the lowest ones are documented in Fragile-Conflict affected states, Sub-Saharan zone, and Oceanian countries.

  15. Industry diversity, competition and firm relatedness

    DEFF Research Database (Denmark)

    Wang, Cong; Madsen, Jakob B.; Steiner, Bodo

    2017-01-01

    This study investigates the extent to which indicators of external scale economies impacted employment growth in Canada over the period 2004-2011. We focus on knowledge spillovers between firms while accounting for Marshallian specialization, Jacobs’ diversity, and competition by industry, as well...... as related and unrelated firm varieties in terms of employment and sales. We find that the employment growth effects of local competition and diversity are positive, while the effect of Marshallian specialization is negative. Diversification is found to be particularly important for employment growth during...

  16. How do ICT firms in Turkey manage innovation? : diversity in expertise versus diversity in markets

    NARCIS (Netherlands)

    Akçomak, S.; Akdeve, E.; Fındık, D.

    2013-01-01

    This paper provides a novel taxonomy of firms based on specialization versus diversification in production and markets. Firms may choose to specialize on few production activities or alternatively may build expertise in many activities. There is an accompanying decision when firms sell their

  17. Strong Firms Lobby, Weak Firms Bribe

    DEFF Research Database (Denmark)

    Bennedsen, Morten; Feldmann, Sven E.; Lassen, David Dreyer

    that are larger, older, exporting, government-owned, are widely held and/or have fewer competitors, have more political influence, perceive corruption to be less of a problem and pay bribes less often; (c) influence increases sales and government subsidies and in general makes the firm have a more positive view...

  18. FEATURES CONCERNING THE ESTABLISHMENT OF AUTHORIZED INDIVIDUAL AND FAMILY FIRMS

    Directory of Open Access Journals (Sweden)

    CLAUDIA ISAC

    2014-12-01

    Full Text Available This paper presents recent legislative changes relating to the establishment and organization of small firms as: The individual firm, the family firm, Authorized individuals (PFA. Thus, in the first part of the paper I present the main features and advantages of the three types of firms, and a comparison between them. The paper continues with the necessary documents for setting up the companies and highlights their role in economic advances. In the second part of the paper, I did a statistical analysis of the evolution of the number of firms of this type and the sectors in which they operate.

  19. Foreign Firms, Domestic Wages

    DEFF Research Database (Denmark)

    Malchow-Møller, Nikolaj; Schjerning, Bertel; R. Markusen, James

    2013-01-01

    Three types of theories have been used to explain the wage premium in foreign firms: the theories of heterogeneous workers, heterogeneous learning, and heterogeneous firms. We set up a model that explicitly encompasses two of these theories, and that can illustrate the third. This unifying...

  20. The market for firms

    DEFF Research Database (Denmark)

    Davis, Jerome Dean; Keiding, Hans

    2010-01-01

    and as a consequence a higher sales value of the firm. Buyers take this signaling into consideration, but irrespective of their countermoves, the equilib- rium result may be a lowering of ex ante product prices, and an ex post market overvaluation of the firm. This model is utilized to suggest possible explanations...

  1. Location of New Firms

    DEFF Research Database (Denmark)

    Backman, Mikaela; Karlsson, Charlie

    2017-01-01

    characteristics, such as the commuting experience. Our results show that commuting influences the firm location choice. The probability of establishing a firm in the work municipality increases if the entrepreneur is a commuter, holding constant the type of region and unobservable and observable individual...

  2. Demographic and socio-economic determinants of post-neonatal deaths in a special project area of rural northern India.

    Science.gov (United States)

    Kabir, Zubair

    2003-07-01

    The demographic and socio-economic determinants of post-neonatal deaths (n = 475) in a special project area of rural northern India (Ballabgarh) were ascertained from 1991 to 1999 using the electronic database system of the project area for data extraction, and were compared with the eligible living children of the same age using a matched population-based case-control study design. Similar determinants were also ascertained in neonatal deaths (n = 212) using the same study design. After controlling for the potential confounders using conditional logistic regression analyses, lower caste (a proxy measure for low socio-economic conditions in rural India) was found to be significantly associated with higher post-neonatal deaths (OR = 2.21). Higher maternal age (>30 years) and fathers' lower educational levels were significantly associated with higher neonatal deaths, in addition to higher post-neonatal deaths in the same area.

  3. The Impact of the Economic Downturn on Libraries: With Special Reference to University Libraries

    Science.gov (United States)

    Nicholas, David; Rowlands, Ian; Jubb, Michael; Jamali, Hamid R.

    2010-01-01

    Evidence is presented of the extent to which libraries from around the world are experiencing financial hardship as a result of the world-wide economic downturn. Comparative analyses are provides on the grounds of country, sector and size of institution. The article concentrates on the situation of UK and US university libraries and is based on…

  4. Latin American Special Economic Zones and Their Impacts on Regional Security

    Science.gov (United States)

    2011-06-01

    6. SEZs in Latin America (Excluding Mexico ) ...................................................18 Figure 7. The Blend of Actors in SEZs...30 Forst, Terrorism, Crime, and Public Policy, 84. 18 Figure 6. SEZs in Latin America (Excluding Mexico )31 Turning to...Economic Conditions and U.S. Relations, (Washington: Congressional Research Service, March 2011), 7. 59 Ibid., 7. 60 Ministerio de Economia y Finanzias

  5. Introduction to Australian Journal of Labour Economics, Special Issue: Labour Market Discrimination

    OpenAIRE

    Boyd Hunter; Nicholas Biddle

    2013-01-01

    In the Handbook of Labor Economics, labour market discrimination is defined as a situation where equally productive workers are treated unequally in a way that is related to an observable characteristic such as race, ethnicity or gender. Such unequal treatment is clearly bad for the individual involved, but it is also bad for the economy as resources are diverted from their most productive use.

  6. 48 CFR 552.216-71 - Economic Price Adjustment-Special Order Program Contracts.

    Science.gov (United States)

    2010-10-01

    ... updated index, the Contractor shall have waived its right to an upward price adjustment for the balance of... Contractors shall have waived its right to an upward price adjustment for that option period. Alternatively... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Economic Price Adjustment...

  7. Firm size diversity, functional richness, and resilience

    Science.gov (United States)

    Garmestani, A.S.; Allen, Craig R.; Mittelstaedt, J.D.; Stow, C.A.; Ward, W.A.

    2006-01-01

    This paper applies recent advances in ecology to our understanding of firm development, sustainability, and economic development. The ecological literature indicates that the greater the functional richness of species in a system, the greater its resilience - that is, its ability to persist in the face of substantial changes in the environment. This paper focuses on the effects of functional richness across firm size on the ability of industries to survive in the face of economic change. Our results indicate that industries with a richness of industrial functions are more resilient to employment volatility. ?? 2006 Cambridge University Press.

  8. Microfinance Impact on Socio-Economic Empowerment: A special Reference to Andhra Pradesh

    Directory of Open Access Journals (Sweden)

    V Vachya L

    2015-03-01

    Full Text Available The present study seeks to examine the role of microfinance and its impact on economic and social empowerment of women. There are great debates going on whether forming groups, membership for women, providing credit and imparting some business skills would change the social equations in the society or whether provision of credit may lead to pervasively entrenched political and economic relations among the genders. The proponents argue that providing credit, targeting women can prove to be a suitable mechanism in ameliorating poor women’s socio-economic conditions and thereby can alter the relations between gender and class. Undoubtedly, there have been significant advances in women empowerment in recent years and the concept and practice of SHG-based microfinance has now developed deep roots in many parts of the country. Impact assessment being rather limited so far, it is hard to measure and quantify the effect the Indian microfinance experience so far had on the poverty situation in rural India. The present study seeks to examine the process of women empowerment and changes in the economic status of SHG members in particular and rural women in general. For this study, multi-stage stratified proportionate random sampling technique was adopted for selecting the representative districts, mandals/talukas, villages and households. The primary data was collected from six villages in the three regions (Coastal Andhra, Rayalaseema and Telangana of Andhra Pradesh. Tabular and statistical analyses were applied for examining the data. Empirically acclaimed logistic regression model has been employed for analyzing significant impact of plausible socio-economic factors on women empowerment. The study found that the socio-economic indicators have changed. It also emerged that there has been an increase in women participation in the household decision making process. The study has suggested that the government should prepare suitable plans and programmes

  9. Special and Differential Treatment, The Multilateral Trading System and Economic Development in the 21st Century

    OpenAIRE

    Singh, Ajit

    2003-01-01

    The principle of “non-reciprocity” in international trade negotiations, together with the concept of Special and Differential Treatment (S&DT) for developing countries (DCs), were considered by the latter at the time to have been some of their important achievements in the 1950s and 1960s. Non-reciprocity indicated recognition by the international community that playing fields between developed and developing countries are not level. In order to provide some kind of parity advanced countries ...

  10. Emergency pediatric surgery: Comparing the economic burden in specialized versus nonspecialized children's centers.

    Science.gov (United States)

    Kvasnovsky, Charlotte L; Lumpkins, Kimberly; Diaz, Jose J; Chun, Jeannie Y

    2018-05-01

    The American College of Surgeons has developed a verification program for children's surgery centers. Highly specialized hospitals may be verified as Level I, while those with fewer dedicated resources as Level II or Level III, respectively. We hypothesized that more specialized children's centers would utilize more resources. We performed a retrospective study of the Maryland Health Services Cost Review Commission (HSCRC) database from 2009 to 2013. We assessed total charge, length of stay (LOS), and charge per day for all inpatients with an emergency pediatric surgery diagnosis, controlling for severity of illness (SOI). Using published resources, we assigned theoretical level designations to each hospital. Two hospitals would qualify as Level 1 hospitals, with 4593 total emergency pediatric surgery admissions (38.5%) over the five-year study period. Charges were significantly higher for children treated at Level I hospitals (all P<0.0001). Across all SOI, children at Level I hospitals had significantly longer LOS (all P<0.0001). Hospitals defined as Level II and Level III provided the majority of care and were able to do so with shorter hospitalizations and lower charges, regardless of SOI. As care shifts towards specialized centers, this charge differential may have significant impact on future health care costs. Level III Cost Effectiveness Study. Copyright © 2018 Elsevier Inc. All rights reserved.

  11. In Search of Legal Foundation for Indonesian Family Firms

    Directory of Open Access Journals (Sweden)

    Yetty Komalasari Dewi

    2016-08-01

    Full Text Available One of the factors that affect Indonesia's economic growth is the existence of business firms. It cannot be ignored that most business firms in Indonesia is family owned firms, and which are considered to constitute as the backbone of the economic development.  Family firms represent the most enduring business model in the world. The continuing success of family firms through the generations relies on ensuring the next generation. However, the issue of family firms is rarely discussed in particular from the perspective of corporate law. In fact, from legal perspectives, there is some issues deal with this type of firms, amongst other, the lack of an overall definition of the term “family business”. It is because family businesses and small medium enterprises (SMEs are widely understood synonymously in spite of the fact that they exist in every size class. Other issue is the questions of its legal basis or legal framework in terms of its corporate governance. Many Indonesian business players lack the basic understanding of corporation’s law. It is partly because these obligations are incompatible with the values and cultures in Indonesia where “kinship principle” is deeply rooted. This article aims to describe the characteristics and the legal frameworks for the family firms in Indonesia. It also recommends the government to take progressive measure by providing clear regulations on the family firms in Indonesia. This will reinforce family firms contribution in economic development of Indonesia in the future. 

  12. Changes of firm size distribution: The case of Korea

    Science.gov (United States)

    Kang, Sang Hoon; Jiang, Zhuhua; Cheong, Chongcheul; Yoon, Seong-Min

    2011-01-01

    In this paper, the distribution and inequality of firm sizes is evaluated for the Korean firms listed on the stock markets. Using the amount of sales, total assets, capital, and the number of employees, respectively, as a proxy for firm sizes, we find that the upper tail of the Korean firm size distribution can be described by power-law distributions rather than lognormal distributions. Then, we estimate the Zipf parameters of the firm sizes and assess the changes in the magnitude of the exponents. The results show that the calculated Zipf exponents over time increased prior to the financial crisis, but decreased after the crisis. This pattern implies that the degree of inequality in Korean firm sizes had severely deepened prior to the crisis, but lessened after the crisis. Overall, the distribution of Korean firm sizes changes over time, and Zipf’s law is not universal but does hold as a special case.

  13. Specialized Accounting Expert Evidence on Economic and Financial Crimes: Analysis of the DMG Case

    OpenAIRE

    Ramírez, Maricela; Universidad Pedagógica y Tecnológica de Colombia.; Robayo-Nieto, Natalia; Universidad Pedagógica y Tecnológica de Colombia; Parra-Castiblanco, Lina María; Universidad Pedagógica y Tecnológica de Colombia.

    2016-01-01

    Generally, in the cases related to economic and financial fraud crimes defined in the Code of Criminal Procedure the performance of accounting experts is necessary, as to assist the justice system. Thus, the appointed professional creates an expert report of its evidence analysis and research work, and comes before the court in a public oral trial as to be questioned and cross-examined. In this context, this study –derived from formal research activities– will determine the requirements of th...

  14. Firming Up Inequality

    OpenAIRE

    Jae Song; David J. Price; Fatih Guvenen; Nicholas Bloom; Till von Wachter

    2015-01-01

    Earnings inequality in the United States has increased rapidly over the last three decades, but little is known about the role of firms in this trend. For example, how much of the rise in earnings inequality can be attributed to rising dispersion between firms in the average wages they pay, and how much is due to rising wage dispersion among workers within firms? Similarly, how did rising inequality affect the wage earnings of different types of workers working for the same employer—men vs. w...

  15. Global Sourcing and Firm Selection

    DEFF Research Database (Denmark)

    Kohler, Wilhelm; Smolka, Marcel

    2014-01-01

    We analyze the sourcing strategies of firms active in the Spanish manufacturing sector. We show that firms that select strategies of vertical integration and of foreign sourcing ex post tend to have been more productive, ex ante, than other firms.......We analyze the sourcing strategies of firms active in the Spanish manufacturing sector. We show that firms that select strategies of vertical integration and of foreign sourcing ex post tend to have been more productive, ex ante, than other firms....

  16. Where Gibrat meets Zipf: Scale and scope of French firms

    Science.gov (United States)

    Bee, Marco; Riccaboni, Massimo; Schiavo, Stefano

    2017-09-01

    The proper characterization of the size distribution and growth of firms represents an important issue in economics and business. We use the Maximum Entropy approach to assess the plausibility of the assumption that firm size follows Lognormal or Pareto distributions, which underlies most recent works on the subject. A comprehensive dataset covering the universe of French firms allows us to draw two major conclusions. First, the Pareto hypothesis for the whole distribution should be rejected. Second, by discriminating across firms based on the number of products sold and markets served, we find that, within the class of multi-product companies active in multiple markets, the distribution converges to a Zipf's law. Conversely, Lognormal distribution is a good benchmark for small single-product firms. The size distribution of firms largely depends on firms' diversification patterns.

  17. The effects of human resource practices on firm growth

    Directory of Open Access Journals (Sweden)

    Vlachos, I.

    2009-01-01

    Full Text Available Although the connection between firm growth and labour is well documented in economics literature, only recently the link between human resources (HR and firm growth has attracted the interest of researchers. This study aims to assess the extent, if any, to which, specific HR practices may contribute to firm growth. We review a rich literature on the links between firm performance and the following HR practices: (1 job security (2 selective hiring, (3 self-managed teams (4 compensation policy, (5 extensive training, and (6 information sharing. We surveyed HR managers and recorded their perceptions about the links between HR practices and firm growth. Results demonstrated that compensation policy was the strongest predictor of sales growth. Results provide overall support for all HR practices except of job security. Eventually, selecting, training, and rewarding employees as well as giving them the power to decide for the benefit of their firm, contribute significantly to firm growth.

  18. Collaborative Communities of Firms

    DEFF Research Database (Denmark)

    2011-01-01

    and developing strategic initiatives that aid the community as a whole. We discuss the facilitator role of the shared services provider, contrasting it with the coordinator role found in other multi-firm organizations, and we show how shared services providers function by describing three examples...... is an organizational model called the collaborative community of firms. This chapter addresses an important organizational role in a collaborative community, that of the shared services provider. The shared services provider acts as a facilitator in the community, helping member firms collaborate with one another...... of collaborative communities of firms from different sectors: the U.S.-based Blade.org and two Denmark-based communities, the Kalundborg Industrial Symbiosis and MG50. Implications for the theory and practice of organization design are discussed....

  19. Foreign Firms, Domestic Wages

    DEFF Research Database (Denmark)

    Malchow-Møller, Nikolaj; Markusen, James R.; Schjerning, Bertel

    Many papers have documented a wage premium in foreign-owned and large firms. However, there is very little formal theory in the literature and empirical analyses are typically not based on hypotheses which are rigorously derived from theory. This paper contributes to the theory-empirics gap...... by developing a model that allows for two "pure" explanations for the wage premium. The first is a heterogenous-worker explanation along the lines of Yeaple (2005), where firms that select more scaleintensive technologies select ex-ante more productive workers. In this case, the wage premium is a pure selection...... phenomenon. The second explanation builds on the heterogeneous-firm model of Melitz (2003) combined with on-the-job learning as in Markusen (2001). Productivity differences between firms are internalized by ex-ante homogeneous workers, so the wage premium is a pure learning phenomenon due to ex-post higher...

  20. Organizational learning capability, firm innovativeness, and firm performance: A meta-analysis

    DEFF Research Database (Denmark)

    Schlägel, Christopher; Reichel, Lisa-Marie; Richter, Nicole Franziska

    In the last twenty years a growing number of empirical studies tested the association be-tween organizational learning capability (OLC) and various economic outcomes. While these studies have provided a better understanding of these relationships, the literature is characterized by the use...... different measures. Based on 53 studies (13,663 firms), we (a) provide a systematic overview of the most commonly used OLC measures, (b) use meta-analytic techniques to highlight the relevance of OLC for firm innovativeness (ruc = .39) and firm perfor-mance (ruc = .41), and (c) explore the unique and common...

  1. Hospitals look to hospitality service firms to meet TQM goals.

    Science.gov (United States)

    Hard, R

    1992-05-20

    Hospitals that hire contract service firms to manage one or all aspects of their hospitality service departments increasingly expect those firms to help meet total quality management goals as well as offer the more traditional cost reduction, quality improvement and specialized expertise, finds the 1992 Hospital Contract Services Survey conducted by Hospitals.

  2. Corruption and firm behavior

    OpenAIRE

    Sandra Sequeira; Simeon Djankov

    2013-01-01

    This paper investigates how corruption affects firrm behavior. Firms can engage in two types of corruption when seeking a public service: cost-reducing "collusive" corruption and cost increasing "coercive" corruption. Using an original and unusually rich dataset on bribe payments at ports matched to firrm-level data, we observe how firms respond to each type of corruption by adjusting their shipping and sourcing strategies. "Collusive" corruption is associated with higher usage of the corrupt...

  3. Supervision in Firms

    OpenAIRE

    Vafaï , Kouroche

    2012-01-01

    URL des Documents de travail : http://centredeconomiesorbonne.univ-paris1.fr/bandeau-haut/documents-de-travail/; Documents de travail du Centre d'Economie de la Sorbonne 2012.84 - ISSN : 1955-611X; To control, evaluate, and motivate their agents, firms employ supervisors. As shown by empirical investigations, biased evaluation by supervisors linked to collusion is a persistent feature of firms. This paper studies how deceptive supervision affects agency relationships. We consider a three-leve...

  4. Choice of ownership structure and firm performance: Evidence from Estonia

    OpenAIRE

    Jones, Derek C.; Kalmi, Panu; Mygind, Niels

    2003-01-01

    In this paper we use rich panel data for a representative sample of Estonian enterprises to analyse diverse issues related to the determinants of ownership structures and ownership changes after privatisation. A key focus is to determine whether ownership changes are related to economic efficiency. While employee owned firms are found to be much more prone than other firms to switch ownership categories, often “employee owned” firms remain “insider-owned” as ownership passes from current empl...

  5. Towards quality in marketing: a small firm context

    OpenAIRE

    O'Shea, Josephine Ann

    1994-01-01

    It is generally accepted that the small firm sector is vital to the well being, both social and economic, of most countries. Fostering and developing indigenous small firms has been a consistent industrial policy goal of successive Irish governments. For many years, informed commentators have stressed the need for strategic market planning and customer orientation if a company is to survive in a vigorously competitive market place. However, specific studies on the Irish small firm sector have...

  6. Mathematical modeling of an industrial firm in transient economy

    Directory of Open Access Journals (Sweden)

    I. G. Pospelov

    2001-01-01

    Full Text Available A behavior model of an industrial firm with a possibility of merchandising and purchasing of production on two channels, traditional and commercial, is given. The former is stable, but less profitable due to non-payments. The latter is profitable, but risky. The model describes different modes of firm operation depending on economic parameters. In such a model, firms have incentives to integrate in financial and industrial groups.

  7. THE GAME TECHNIQUE NTCHNIQUE STIMULATING LEARNING ACTIVITY OF JUNIOR STUDENTS SPECIALIZING IN ECONOMICS

    Directory of Open Access Journals (Sweden)

    Juri. S. Ezrokh

    2014-01-01

    Full Text Available The research is aimed at specifying and developing the modern control system of current academic achievements of junior university students; and the main task is to find the adequate ways for stimulating the junior students’ learning activities, and estimating their individual achievements.Methods: The author applies his own assessment method for estimating and stimulating students’ learning outcomes, based on the rating-point system of gradually obtained points building up a student’s integrated learning outcomes.Results: The research findings prove that implementation of the given method can increase the motivational, multiplicative and controlling components of the learning process.Scientific novelty: The method in question is based on the new original game approach to controlling procedures and stimulation of learning motivation of the economic profile students.Practical significance: The recommended technique can intensify the incentivebased training activities both in and outside a classroom, developing thereby students’ professional and personal qualities.

  8. Determinants of Firm R&D

    DEFF Research Database (Denmark)

    Tingvall, Patrick Gustavsson; Poldahl, Andreas

    2012-01-01

    Research and Development (R&D) is a key component behind technological development and economic growth; therefore, understanding the drivers of R&D is crucial. An interesting question is the role of technology spillovers, transferred by trade, and their impact on firm R&D. Here we analyze not only...

  9. Firm efficiency: domestic owners, coalitions, and FDI

    Czech Academy of Sciences Publication Activity Database

    Hanousek, Jan; Kočenda, Evžen; Mašika, M.

    2012-01-01

    Roč. 36, č. 4 (2012), s. 471-486 ISSN 0939-3625 R&D Projects: GA ČR(CZ) GAP403/12/0080 Institutional support : PRVOUK-P23 Keywords : efficiency * ownership structure * firms Subject RIV: AH - Economics

  10. Firm break-up and performance

    Czech Academy of Sciences Publication Activity Database

    Kočenda, Evžen; Hanousek, Jan

    2012-01-01

    Roč. 13, č. 2 (2012), s. 121-143 ISSN 1435-6104 R&D Projects: GA ČR GA402/09/1595 Institutional support: PRVOUK-P23 Keywords : break-up of firms * corporate performance * ownership changes Subject RIV: AH - Economics Impact factor: 0.588, year: 2012

  11. Neighbourhood Effects on Firm Success and Strategy

    NARCIS (Netherlands)

    Sleutjes, B.W.H.|info:eu-repo/dai/nl/314117415

    2012-01-01

    The main objective of this dissertation is to provide new insights on the relationship between local firms and their neighbourhoods. As a result of economic transitions and several societal developments over the past 50 years, residential neighbourhoods have developed from being places where people

  12. Facilitated inter-firm collaboration in Ghana

    DEFF Research Database (Denmark)

    Kuada, John Ernest; Sørensen, Olav Jull

    2005-01-01

    Since the mid-1980s, aid agencies have endorsed the need to support private enterprise development in developing countries as an instrument for overall economic development and poverty reduction. Facilitation of collaboration between developed and developing country firms has become one of the mo...

  13. Executive compensation and firm performance: Evidence from Indian firms

    Directory of Open Access Journals (Sweden)

    Mehul Raithatha

    2016-09-01

    Full Text Available The study examines the relationship between executive compensation and firm performance among Indian firms. The evidence suggests that firm performance measured by accounting, as well as market-based measures, significantly affects executive compensation. We also test for the presence of persistence in executive compensation by employing the system-generalised methods of moments (GMM estimator. We find significant persistence in executive compensation among the sample firms. Further, we report the absence of pay–performance relationship among the smaller sample firms and business group affiliated firms. Thus, our findings cast doubts over the performance-based executive compensation practices of Indian business group affiliated firms.

  14. Socio-Economic Conditions and Quality of Life in the Tribal Areas of Orissa with Special Reference to Mayurbhanj District

    Directory of Open Access Journals (Sweden)

    Dr N.C. Jana

    2015-11-01

    Full Text Available Odisha (previously known as Orissa, being socio-economically backward but culturally sound, is one of the important states in Eastern India. Out of 30 districts 9 are considered as tribal districts (according to Location Quotient value and of the total population (41,947,358 in 2011 a significant share (22.1% goes to tribal people (8,145,081in 2011. This tribal group of Odisha has special significance because they are one of the most backward and geographically isolated communities. That’s why their life style and economy is confined to the direct utilization of natural resources, pre-agricultural level of technology and specific indigenous type of work. But now with the emergence of industry and market economy, the age-old relationship between tribes and nature has disturbed. Keeping this in backdrop, the present study tried to explore the changing scenario of socio-economic condition in the tribal areas of Odisha. In this regard, various socio-economic indicators have been analyzed and compared for representing district-level patterns of quality of life and finding out the variation among the Primitive tribal households in the study area. In addition, Mayurbhanj has also been taken as a case study to represent the socio-economic condition and quality of life at the block level. It may be pointed out in this context that out of 30 districts in Odisha, according to Location Quotient value Mayurbhanj is the highest tribal concentrated district. The overall objective of this study is to obtain a better understanding of disparities and variations in socio-economic status in Odisha as well as in Mayurbhanj and also find out some remedial measures to overcome the problems to bring the Primitive tribal community in the main stream of the society. Maps have been prepared on the above-mentioned indicators based on secondary data using Arc-GIS 9.3. From the analysis of the health-related indicators it is clear from the analysis that the quality of life

  15. Corruption and Firm Growth: Evidence from China

    OpenAIRE

    Wang, Y.; You, J.

    2012-01-01

    Corruption is one of the most pervasive obstacles to economic and social development. However, in the existing literature it appears that corruption seems to be less harmful in some countries than in others. The most striking examples are well known as the "East Asian paradox": countries displaying exceptional growth records despite having thriving corruption cultures. The aim of this paper is to explain the high corruption but fast economic growth puzzle in China by providing firm-level evid...

  16. A Health Economics Approach to US Value Assessment Frameworks-Introduction: An ISPOR Special Task Force Report [1].

    Science.gov (United States)

    Neumann, Peter J; Willke, Richard J; Garrison, Louis P

    2018-02-01

    Concerns about rising spending on prescription drugs and other areas of health care have led to multiple initiatives in the United States designed to measure and communicate the value of pharmaceuticals and other technologies for decision making. In this section we introduce the work of the International Society for Pharmacoeconomics and Outcomes Research Special Task Force on US Value Assessment Frameworks formed to review relevant perspectives and appropriate approaches and methods to support the definition and use of high-quality value frameworks. The Special Task Force was part of the International Society for Pharmacoeconomics and Outcomes Research Initiative on US Value Assessment Frameworks, which enlisted the expertise of leading health economists, concentrating on what the field of health economics can provide to help inform the development and use of value assessment frameworks. We focus on five value framework initiatives: the American College of Cardiology/American Heart Association, the American Society of Clinical Oncology, the Institute for Clinical and Economic Review, the Memorial Sloan Kettering Cancer Center, and the National Comprehensive Cancer Network. These entities differ in their missions, scope of activities, and methodological approaches. Because they are gaining visibility and some traction in the United States, it is essential to scrutinize whether the frameworks use approaches that are transparent as well as conceptually and methodologically sound. Our objectives were to describe the conceptual bases for value and its use in decision making, critically examine existing value frameworks, discuss the importance of sound conceptual underpinning, identify key elements of value relevant to specific decision contexts, and recommend good practice in value definition and implementation as well as areas for further research. Copyright © 2018 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc

  17. Firm Productivity and Infrastructure Costs in East Africa

    OpenAIRE

    Iimi, Atsushi; Humphrey, Richard Martin; Melibaeva, Sevara

    2015-01-01

    Infrastructure is an important driving force for economic growth. It reduces trade and transaction costs and stimulates the productivity of the economy. Africa has been lagging behind in the global manufacturing market. Among others, infrastructure is an important constraint in many African countries. Using firm-level data for East Africa, the paper reexamines the relationship between firm ...

  18. Does bank failure affect client firms? Micro evidence from Estonia

    Czech Academy of Sciences Publication Activity Database

    Joeveer, Karin

    -, č. 224 (2004), s. 1-29 ISSN 1211-3298 Institutional research plan: CEZ:AV0Z7085904 Keywords : bank failure * client firm performance * firm bank ruptcy Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp224.pdf

  19. The cash-flow analysis of the firm

    OpenAIRE

    Mariana Man

    2001-01-01

    The analysis of economic and financial indicators of the firm regards the profit and loss account analysis and the balance sheet analysis. The cash-flow from operating activities represents the amount of cash obtained by a firm from selling goods and services after deducting the costs involved by raw materials, materials and processenig operations

  20. Norms and Interfirm Governance in Client-Architectural Firm Relationships

    DEFF Research Database (Denmark)

    Skaates, Maria Anne

    2001-01-01

    on the basis of IMP Group and institutional theory. Thereafter Danish architectural firms' activities on the German market are analyzed using the framework. The analysis suggests that there are interconnections between norms and relationship types; furthermore firms' position in the field and economic...

  1. Models of Social Exploitation with Special Emphasis on Slovenc Traffic Economics

    Directory of Open Access Journals (Sweden)

    Iztok Ostan

    2005-01-01

    Full Text Available In order to decipher the organisational behaviour operatingin the transport sector of the economy it is necessary to discoverthe prevalent patterns of social exploitation at work. PreliminaJyresults of a study of experienced irregular traffic studentsshow that, according to them there is no significant differencein Slovenia between exploitation in traffic and other sectors.Thus, general models of exploitation could be used to explainthe behaviour in the traffic sector. Empirical research amongSlovene students showed that according to their statements inthe 90s the managerial and capitalistic types of exploitation prevailedin Slovenia over non-exploitative types of economic behaviour.It also showed that statements of students do not differmuch from those of the general public regarding this question,nor from the statements of irregular students with extensivework experience. It was also found that there were no substantialdifferences between the statements of Italian and Slovenestudents regarding the type of exploitation operative in theircountries. Students of traffic are basically of the same opinionregarding this topic as students in general, though slightly morecritical, especially towards business managers and politicians.

  2. The economic potential of bioenergy for climate change mitigation with special attention given to implications for the land system

    International Nuclear Information System (INIS)

    Popp, Alexander; Dietrich, Jan Philipp; Lotze-Campen, Hermann; Klein, David; Bauer, Nico; Krause, Michael; Beringer, Tim; Gerten, Dieter; Edenhofer, Ottmar

    2011-01-01

    Biomass from cellulosic bioenergy crops is expected to play a substantial role in future energy systems, especially if climate policy aims at stabilizing greenhouse gas concentration at low levels. However, the potential of bioenergy for climate change mitigation remains unclear due to large uncertainties about future agricultural yield improvements and land availability for biomass plantations. This letter, by applying a modelling framework with detailed economic representation of the land and energy sector, explores the cost-effective contribution of bioenergy to a low-carbon transition, paying special attention to implications for the land system. In this modelling framework, bioenergy competes directly with other energy technology options on the basis of costs, including implicit costs due to biophysical constraints on land and water availability. As a result, we find that bioenergy from specialized grassy and woody bioenergy crops, such as Miscanthus or poplar, can contribute approximately 100 EJ in 2055 and up to 300 EJ of primary energy in 2095. Protecting natural forests decreases biomass availability for energy production in the medium, but not in the long run. Reducing the land available for agricultural use can partially be compensated for by means of higher rates of technological change in agriculture. In addition, our trade-off analysis indicates that forest protection combined with large-scale cultivation of dedicated bioenergy is likely to affect bioenergy potentials, but also to increase global food prices and increase water scarcity. Therefore, integrated policies for energy, land use and water management are needed.

  3. Whom do new firms hire?

    DEFF Research Database (Denmark)

    Dahl, Michael S.; Klepper, Steven

    2015-01-01

    Using the matched employer-employee data set for Denmark and information on the founders of new firms, we analyze the hiring choices of all new firms that entered from 2003 to 2010. We develop a theoretical model in which the quality of a firm’s employees determines its average cost, a firm......, and firm size influence the wages firms pay to their early hires. We find that beginning with the time of entry, larger firms consistently pay higher wages to their new hires. These are firms with greater survival prospects at the time of entry based on the pre-entry backgrounds of their founders...

  4. Leverage, Investment, and Firm Growth

    OpenAIRE

    Larry Lang; Eli Ofek; Rene M. Stulz

    1995-01-01

    We show that there is a negative relation between leverage and future growth at the firm level and, for diversified firms, at the segment level. Further, this negative relation between leverage and growth holds for firms with low Tobin's q, but not for high-q firms or firms in high-q industries. Therefore, leverage does not reduce growth for firms known to have good investment opportunities, but is negatively related to growth for firms whose growth opportunities are either not recognized by ...

  5. Modern Competitive Strategy Firm

    Directory of Open Access Journals (Sweden)

    František Bartes

    2010-01-01

    Full Text Available The article deals with problems of an ever increasing number of cases of successful application of old combat strategies in business practice. Nevertheless, the author refuses the so called “direct conflict“ of firms, when it is really fought for victory on the market. His approach is based on the philosophy of “victory without fight“, in other words – of achieving the aim without direct conflict with the rival firm.In the end he comes to the conclusion that combat philosophies are more and more often incorporated into classical approach of strategic firm control and become the integral part of philosophy of management. At the close happens to opinion that the one from basic factors absolutely necessary to creation such strategy at company, is necessary present so-called „creative intelligence“.

  6. Economics.

    Science.gov (United States)

    Palley, Paul D; Parcero, Miriam E

    2016-10-01

    A review of literature in the calendar year 2015 dedicated to environmental policies and sustainable development, and economic policies. This review is divided into these sections: sustainable development, irrigation, ecosystems and water management, climate change and disaster risk management, economic growth, water supply policies, water consumption, water price regulation, and water price valuation.

  7. Theoretical Perspectives on the Internationalization of Firms

    DEFF Research Database (Denmark)

    Rask, Morten; Håkonsson, Dorthe Døjbak; Strandskov, Jesper

    2008-01-01

    The purpose of this article is to build a coherent framework of the four main theories relating to the internationalization of firms, in order to facilitate better business teaching and research. Yet, theories of the internationalization of firms are broad and rest on different underlying...... assumptions. With the purpose of clarifying the potential for integration of partial theories and fragments in a more logically connected theoretical area, this article offers a meta-theoretical overview of four perspectives within international business economics: Research and its related background, basic...

  8. Collaborative Communities of Firms

    DEFF Research Database (Denmark)

    Bøllingtoft, Anne; Müller, Sabine; Ulhøi, John Parm

    2011-01-01

    and developing strategic initiatives that aid the community as a whole. We discuss the facilitator role of the shared services provider, contrasting it with the coordinator role found in other multi-firm organizations, and we show how shared services providers function by describing three examples...... of collaborative communities of firms from different sectors: the U.S.-based Blade.org and two Denmark-based communities, the Kalundborg Industrial Symbiosis and MG50. Implications for the theory and practice of organization design are discussed....

  9. A Transactions Cost Economics (TCE) Approach to Optimal Contract Type

    OpenAIRE

    Franck, Raymond; Melese, Francois; Dillard, John

    2006-01-01

    Proceedings Paper (for Acquisition Research Program) This study examines defense acquisition through the new lens of Transaction Cost Economics (TCE). TCE is an emergent field in economics that has multiple applications to defense acquisition practices. TCE''s original focus was to guide ''make-or-buy?'' decisions that define the boundaries of a firm. This study reviews insights afforded by TCE that impact government outsourcing (''buy'' decisions), paying special attention to defense pro...

  10. The puritan heritage and current economic attitudes in America

    OpenAIRE

    Elliott, Emory

    1987-01-01

    This essay sustains that the contemporary economic yearnings of American society are deeply rooted in seventeenth century Puritan Massachusetts — a cultural heritage which the people are unwilling and perhaps unable to abandon.The author identifies five of the most firmly-held assumptions as a beginning for the study of cultural values and economics in the United States today: 1. The assumption that America has a special, divinely ordained role as a world leader — exemplar of democratic ideal...

  11. The Impact of Financial Access on Firm Growth: Evidence from ...

    African Journals Online (AJOL)

    The Impact of Financial Access on Firm Growth: Evidence from Ethiopian Grain Traders and Millers. ... Ethiopian Journal of Economics ... the necessary investment to provide effective marketing services for the transformation of agriculture.

  12. Growth of New Firms: Which Factors Influence Post-Entry Performance? An Empirical Analysis Based on Swiss Firm Data

    OpenAIRE

    David Marmet

    2004-01-01

    The aim of this study is to shed light on the factors which determine the post-entry performance of new firms. It is often argued that new firms are the driving force of structural changes and sometimes they are even characterized as an “engine” of economic growth. Nevertheless, the empirical evidence is mixed. Taking into account the high exit rate of new firms, a specific founding cohort does not contribute substantially to new jobs. In this paper, we analyse the contribution of new firms c...

  13. Financing Constraints and Firm Growth in Emerging Europe

    Directory of Open Access Journals (Sweden)

    Leitner Sandra M.

    2016-04-01

    Full Text Available The paper aims to shed light on the effects of different types of financing constraints on firm sales and employment growth in Emerging Europe before and after the onset of the financial crisis. It analyzes the group of emerging NMS-10 economies (plus Turkey and the group of economically and financially lagging Western Balkan countries. The paper demonstrates that financing constraints significantly obstruct firm growth, particularly in the Western Balkan countries, which calls for policy intervention to ensure swifter job-rich growth and catching-up with the rest of Europe. It also emphasizes that particular firm characteristics are essential for growth in Emerging Europe and demonstrates that exporting only and innovating are recipes for faster firm growth, while importing only and a high foreign ownership share seriously retard firm growth. Finally, it stresses the importance of the particular institutional environment for firms to thrive.

  14. Creativity and Entrepreneurship: A Regional Analysis of New Firm Formation

    OpenAIRE

    Lee, Sam Youl; Florida, Richard; Ács, Zoltán J.

    2004-01-01

    Understanding the factors that promote or mitigate new firm birth is crucial to regional economic development efforts, since a high level of new firm creation significantly contributes to regional economic vitality and is a major signal of a dynamic economy. The literature suggest that various factors such as unemployment, population density/growth, industrial structure, human capital, the availability of financing, and entrepreneurial characteristics significantly influence regional variatio...

  15. Measuring Firm Performance

    DEFF Research Database (Denmark)

    Assaf, A. George; Josiassen, Alexander; Gillen, David

    2014-01-01

    Set in the airport industry, this paper measures firm performance using both desirable and bad outputs (i.e. airport delays). We first estimate a model that does not include the bad outputs and then a model that includes bad outputs. The results show important differences in the efficiency...

  16. The Multinational Firm

    DEFF Research Database (Denmark)

    Morgan, Glenn; Hull Kristensen, Peer; Whitley, Richard

    . These processes occur at a number of levels which are explored in different empirical settings. Firstly, at the level of governance, multinational firms may develop conflicts between investors from different national contexts, for example between the arms-length orientation of Anglo-Saxon institutional investors...

  17. Collaborative Communities of Firms

    DEFF Research Database (Denmark)

    Bøllingtoft, Anne; Müller, Sabine; Ulhøi, John Parm

    2011-01-01

    Both small and medium-size entrepreneurial firms face liabilities such as resource scarcity and scale diseconomies, making it difficult for them to innovate on a continuous basis. In response, experimentation with new ways of organizing for innovation has increased. One successful result is an or...

  18. Economism

    Directory of Open Access Journals (Sweden)

    P. Simons

    2010-07-01

    Full Text Available Modern society is characterised not only by a fascination with scientific technology as a means of solving all problems, especially those that stand in the way of material progress (technicism, but also by an obsessive interest in everything that has to do with money (economism or mammonism. The article discusses the relationship between technicism and economism, on the basis of their relationship to utilitarian thinking: the quest for the greatest happiness for the greatest number of people. Recent major studies of neo-liberalism (seen as an intensification of utilitarianism by Laval and Dardot are used as reference to the development of utilitarianism. It is suggested that the western view of the world, as expressed in economism and technicism, with a utilitarian ethics, features three absolutisations: those of theoretical thinking, technology and economics. In a second part, the article draws on the framework of reformational philosophy to suggest an approach that, in principle, is not marred by such absolutisations.

  19. Financial Constrains for Innovative Firms: The Role of Size, Industry and ICT Uses as Determinants of Firms' Financial Structure

    Science.gov (United States)

    Castillo-Merino, David; Vilaseca-Requena, Jordi; Plana-Erta, Dolors

    This paper uses a large and original data set of Catalan firms in all the economic branches to analyse the effects of size, industry and degree of ICT uses on financial constraints for innovative firms. We have conducted a micro econometric analysis following Henry et al. (1999) investment model to empirically contrast the relationship between firms' investment spread over time and their financial structure, and we have used von Kalckreuth (2004) methodology, based on an original survey with data on financial issues. Our results show that it exits a positive and significant relationship between investment shift and financial structure, emerging financial constraints for more innovative firms. Furthermore, these constraints are higher for micro companies and firms within the knowledge-advanced services' industry. Finally, we have also found that advanced ICT uses by more innovative firms allow them to reduce constraints of access to sources of finance.

  20. Review of Recent US Value Frameworks-A Health Economics Approach: An ISPOR Special Task Force Report [6].

    Science.gov (United States)

    Willke, Richard J; Neumann, Peter J; Garrison, Louis P; Ramsey, Scott D

    2018-02-01

    The sixth section of our Special Task Force (STF) report reviews and comments on recent US-oriented value assessment frameworks, specifically those published by the American College of Cardiology/American Heart Association, the Institute for Clinical and Economic Research, the American Society of Clinical Oncology, the National Comprehensive Cancer Network, and the Memorial Sloan Kettering Cancer Center. We review published commentaries that address the validity, reliability, and conceptual underpinnings of these frameworks. We find common themes of critique regarding the strengths and limitations across frameworks. Particular shortcomings of some frameworks pose greater threats to their face validity and utility compared with others. The most significant limitations include lack of clear perspective (e.g., patient vs. health plan) and poor transparency in accounting for costs and benefits. We then review how each framework adheres to core STF recommendations, with particular emphasis on whether the framework can be used to support coverage decisions by health insurers, and whether it adheres to core principles of cost-effectiveness analysis. The Institute for Clinical and Economic Research framework most closely adheres to core STF recommendations. Others have significant limitations that vary widely from framework to framework. We also review how the frameworks follow STF recommendations for addressing potentially relevant issues beyond cost-effectiveness analysis - for example, equity in resource allocation and patient heterogeneity. Finally, we review whether and how each framework uses value thresholds and addresses affordability concerns. We conclude with suggestions for further research, particularly in the areas of testing the measurement and use of novel elements of value and deliberative processes. Copyright © 2018 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

  1. The geography of openness to foreign trade in Poland: The role of special economic zones and foreign-owned entities

    Directory of Open Access Journals (Sweden)

    Nazarczuk Jarosław M.

    2018-03-01

    Full Text Available The aim of this paper is to present the spatial distribution of openness to foreign trade assessed at the local level (LAU 1, poviats in Poland, between 2005 and 2012, with particular reference to its two determinants: activity of foreign-owned enterprises (FOEs and functioning of special economic zones (SEZs. With the use of data from different sources, including the foreign trade statistics for the Polish regions, constituting a set of indicators on openness to foreign trade, we deliberate on the determinants and the character of regional openness, as well as the quality of the proxies used in order to assess their spatial distribution. Our results indicate high regional dissimilarities in terms of export activity, correlated with the broader picture of regional inequalities. The role of FOEs has been crucial in determining the spatial distribution of exports. As regards the SEZs, their sole contribution increased significantly during the time span. In the times of the world financial crisis, the export performance diversity of poviats increased temporarily but diminished afterwards.

  2. Belgian firms visiting CERN

    CERN Multimedia

    FP Department

    2009-01-01

    25 – 26 MAY 2009 09.00 to 17.00 Monday 25 May 09.00 to 17.00 Tuesday 26 May Individual interviews will take place in technicians’ offices. The firms will contact relevant users/technicians but any user wishing to make contact with a particular firm is welcome to use the contact details which are available from each departmental secretariat or from the GS Department web pages here. List of Companies:Automation Services and Consulting BVBA Burrick NV, (PLC) Cissoid DB Engineering Design, Drafting & Services BVBA Entelec Control Systems GILLAM-Fei S.A. HPC ICSENSE IWT – Enterprise Europe Flanders Jema SA Mecasoft SA SA Polmans Rapid-Torc Resarm Engineering Plastics SA Sentera Europa NV SLC BVBA Stocker Industrie SA Technord Tecnubel Winlock BVBA For further information please contact Caroline Laignel (GS-DI 73722) or Karine Robert (GS-SEM-LS 74407).

  3. Servitization in Industrial Firms

    DEFF Research Database (Denmark)

    Hsuan, Juliana; Frandsen, Thomas; Raja, Jawwad

    This booklet outlines the breadth and depth of services offered by Danish manufacturing companies, aiming to provide a better understanding of the servitization landscape in Denmark. A total of 1,103 company websites have been checked against 16 service categories. Of these, 939 companies were...... analyzed in more detail, for example with regard to the types of services offered, company size, industry representation, turnover and earnings before interest and tax (EBIT). The analysis presented in this booklet may inspire Danish firms and help them, in their servitization journeys, to position...... themselves in relation to other companies in similar or related industries. In setting out a brief overview of the overall industrial service landscape in Denmark, the following is highlighted: - The extent to which Danish industrial firms are communicating service offerings through their websites...

  4. Sales-marketing interfaces within business-firms : Transitions and evolution

    NARCIS (Netherlands)

    Biemans, W.G.; Makovec Brencic, M.; Malshe, A.

    2012-01-01

    In these turbulent economic times sales-marketing interfaces in business firms are in the state of flux. Sales-marketing interface researchers have till date characterized marketing within business firms in terms of a marketing department rather than a marketing function thereby ignoring B2B firms

  5. Innovation in Family Firms

    DEFF Research Database (Denmark)

    Filser, Matthias; Brem, Alexander; Gast, Johanna

    2016-01-01

    , organizational culture and behaviour, resources, and innovation and strategy. Second, based on a thorough literature review the major research avenues are reflected. The comparison of the results of both analyses showed the following areas for future research on family firm innovation: members‘ individual human...... capital and their leadership behaviour, openness to externals, cross-country comparisons, and finally the family‘s functional integrity on innovation performance....

  6. Board diversity in family firms

    OpenAIRE

    Menozzi, Anna; Fraquelli, Giovanni; Novara, Jolanda de

    2015-01-01

    The paper deals with diversity as a key factor to improve the board of directors’ decision process in family firms. The empirical literature about board diversity points at the positive impact of diversity on board functioning and firm performance. The paper uses a statistical diversity index to capture the heterogeneity of board of directors and put it in relation with firm performance, as measured by firm profitability. The empirical analysis is based on a newly collected panel of 327 famil...

  7. Connected Firms and Investor Myopia

    NARCIS (Netherlands)

    Ginglinger, Edith; Hébert, Camille; Renneboog, Luc

    2017-01-01

    Conglomerates, multinational corporations and business groups are non-exclusive forms of complex firms. Often organized as corporate networks, complex firms control a myriad of firms connected through ownership links. We investigate whether parent-subsidiary links within corporate networks enhance

  8. Research Article Special Issue

    African Journals Online (AJOL)

    pc

    2017-11-10

    Nov 10, 2017 ... Development and Economics,Universiti Malaysia Terengganu ... Even though payment of tax is a common practice for many firms, the ... principle” where M&M's argument rests, states that market prices must be adaptable in.

  9. Does Tax Haven FDI Influence Firm Performance?

    OpenAIRE

    Dewit, Gerda; Jones, Chris; Leahy, Dermot

    2017-01-01

    This paper provides theoretical and empirical evidence of the link between the use of tax haven subsidiaries by multinational enterprises (MNEs) and firm performance, as measured by total factor productivity. We find that the use of tax havens has no impact on economic dynamism for a sample of MNEs from across the OECD. Our results have significant policy implications in terms of the role of tax havens in the world economy.

  10. Flat Hierarchical Structure, Bundles of New Work Practices and Firm Performance

    OpenAIRE

    Cristini Annalisa; Gaj Alessandro; Labory Sandrine; Leoni Riccardo

    2003-01-01

    In the last decade a growing economic literature has been devoted to the relationship between firm organisation and performance. Empirical analyses mainly focus on the relationship between human resources management and firm performance, neglecting the role played by organisational designs. The aim of this paper is to integrate the analysis of this relationship and verify the extent to which it is relevant for Italian firms. The data set, for a sample of manufacturing firms located in Lombard...

  11. Firm Strategies and Business Models in the Software Industry: A Configurational Approach

    OpenAIRE

    Pussep, Anton

    2017-01-01

    Researchers have long focused on the determinants of firm success, which is of crucial interest to practitioners as well, since being successful is at the very heart of economic activity. Extant research emphasizes three levels of analysis at which determinants occur: firm, industry, and group level. Each level has been found to affect firm success. At group level, firms choose between a limited set of competitive approaches. The resulting groups are referred to as configurations. The a...

  12. Assessing the Drivers of R&D Activities of Firms in Developing Countries: Evidence From Turkey

    OpenAIRE

    Elif Kalaycı; Teoman Pamukçu

    2014-01-01

    Research and development (R&D) activities of firms in developing countries (DCs) have been gaining in importance for nationwide economic growth and development, while globalization of the world economy offers a number of opportunities for fostering knowledge-creating activities. Therefore, a better understanding of factors influencing R&D activities of firms in DCs with a view to conceive and implement appropriate policies is firmly on the agenda. In this article, a rich firm-level data set a...

  13. Social security and firm performance

    DEFF Research Database (Denmark)

    Lee, Sangheon; Torm, Nina

    2017-01-01

    This article investigates how social security provision - a key determinant of formality - impacts on small and medium-sized firm performance in Viet Nam. Based on enterprise census data covering all registered firms from 2006 to 2011, the authors find that firms which increase their social...... security coverage by 10 per cent experience a revenue gain of 1.4-2.0 per cent per worker and a profit gain of up to 1.8 per cent, depending on the survival time of the firm. However, given the time lag between 'investment' (in social security contributions) and returns (enhanced firm performance...

  14. 48 CFR 36.209 - Construction contracts with architect-engineer firms.

    Science.gov (United States)

    2010-10-01

    ... with architect-engineer firms. 36.209 Section 36.209 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION SPECIAL CATEGORIES OF CONTRACTING CONSTRUCTION AND ARCHITECT-ENGINEER CONTRACTS Special Aspects of Contracting for Construction 36.209 Construction contracts with architect-engineer firms. No...

  15. 48 CFR 636.209 - Construction contracts with architect-engineer firms.

    Science.gov (United States)

    2010-10-01

    ... with architect-engineer firms. 636.209 Section 636.209 Federal Acquisition Regulations System DEPARTMENT OF STATE SPECIAL CATEGORIES OF CONTRACTING CONSTRUCTION AND ARCHITECT-ENGINEER CONTRACTS Special Aspects of Contracting for Construction 636.209 Construction contracts with architect-engineer firms. The...

  16. 48 CFR 1536.209 - Construction contracts with architect-engineer firms.

    Science.gov (United States)

    2010-10-01

    ... architect-engineer firms. 1536.209 Section 1536.209 Federal Acquisition Regulations System ENVIRONMENTAL PROTECTION AGENCY SPECIAL CATEGORIES OF CONTRACTING CONSTRUCTION AND ARCHITECT-ENGINEER CONTRACTS Special Aspects of Contracting for Construction 1536.209 Construction contracts with architect-engineer firms. (a...

  17. An Overview of Value, Perspective, and Decision Context-A Health Economics Approach: An ISPOR Special Task Force Report [2].

    Science.gov (United States)

    Garrison, Louis P; Pauly, Mark V; Willke, Richard J; Neumann, Peter J

    2018-02-01

    The second section of our Special Task Force builds on the discussion of value and perspective in the previous article of the report by 1) defining a health economics approach to the concept of value in health care systems; 2) discussing the relationship of value to perspective and decision context, that is, how recently proposed value frameworks vary by the types of decisions being made and by the stakeholders involved; 3) describing the patient perspective on value because the patient is a key stakeholder, but one also wearing the hat of a health insurance purchaser; and 4) discussing how value is relevant in the market-based US system of mixed private and public insurance, and differs from its use in single-payer systems. The five recent value frameworks that motivated this report vary in the types of decisions they intend to inform, ranging from coverage, access, and pricing decisions to those defining appropriate clinical pathways and to supporting provider-clinician shared decision making. Each of these value frameworks must be evaluated in its own decision context for its own objectives. Existing guidelines for cost-effectiveness analysis emphasize the importance of clearly specifying the perspective from which the analysis is undertaken. Relevant perspectives may include, among others, 1) the health plan enrollee, 2) the patient, 3) the health plan manager, 4) the provider, 5) the technology manufacturer, 6) the specialty society, 7) government regulators, or 8) society as a whole. A valid and informative cost-effectiveness analysis could be conducted from the perspective of any of these stakeholders, depending on the decision context. Copyright © 2018 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

  18. Defining Elements of Value in Health Care-A Health Economics Approach: An ISPOR Special Task Force Report [3].

    Science.gov (United States)

    Lakdawalla, Darius N; Doshi, Jalpa A; Garrison, Louis P; Phelps, Charles E; Basu, Anirban; Danzon, Patricia M

    2018-02-01

    The third section of our Special Task Force report identifies and defines a series of elements that warrant consideration in value assessments of medical technologies. We aim to broaden the view of what constitutes value in health care and to spur new research on incorporating additional elements of value into cost-effectiveness analysis (CEA). Twelve potential elements of value are considered. Four of them-quality-adjusted life-years, net costs, productivity, and adherence-improving factors-are conventionally included or considered in value assessments. Eight others, which would be more novel in economic assessments, are defined and discussed: reduction in uncertainty, fear of contagion, insurance value, severity of disease, value of hope, real option value, equity, and scientific spillovers. Most of these are theoretically well understood and available for inclusion in value assessments. The two exceptions are equity and scientific spillover effects, which require more theoretical development and consensus. A number of regulatory authorities around the globe have shown interest in some of these novel elements. Augmenting CEA to consider these additional elements would result in a more comprehensive CEA in line with the "impact inventory" of the Second Panel on Cost-Effectiveness in Health and Medicine. Possible approaches for valuation and inclusion of these elements include integrating them as part of a net monetary benefit calculation, including elements as attributes in health state descriptions, or using them as criteria in a multicriteria decision analysis. Further research is needed on how best to measure and include them in decision making. Copyright © 2018 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

  19. Organizational Structure and Firms' Demand for HRM Practices

    OpenAIRE

    Eriksson, Tor; Ortega, Jaime

    2014-01-01

    A question largely left unanswered in previous studies of firms’ use of HRM practices, and the consequences thereof, is why some firms adopt these practices while others do not. We examine empirically the determinants of firms’ demand for HRM pay, work and training practices with a special focus on the role of differences in the organizational structure of firms. For this purpose we merge data from a detailed questionnaire study of Danish private sector firms’ use of HRM practices with workfo...

  20. Which firms use measures?

    DEFF Research Database (Denmark)

    Pedersen, Esben Rahbek Gjerdrum; Sudzina, Frantisek

    2012-01-01

    Purpose – The purpose of this paper is to outline the anatomy of firms which adopt comprehensive performance measurement (PM) systems in order to gain an understanding of how internal (organisational capabilities) and external (perceived environmental uncertainties) factors shape performance...... – This paper concludes that a limited number of internal and external factors have a significant influence on the adoption of PM systems. There is no consistent pattern, however, between the different sub-categories of organisational capabilities/perceived environmental uncertainties and PM adoption...... this study indicate that the relationship between PM adoption and the organisational characteristics/external environment is more complicated than anticipated....

  1. The Emergence of the Modern Theory of the Firm

    DEFF Research Database (Denmark)

    Foss, Nicolai Juul; Klein, Peter G.

    sociology and business administration has been relatively limited and ad hoc (although some scholars, notably Williamson, have made more substantive use of these disciplines than othe~s) The fact that the theory of the firm has stayed relatively close in to the (changing) economic mainstream and that its......We discuss the emergence of the theory of the firm (in the Coasian sense); survey and discuss the main currents of the theo~y of the firm, and discuss what has determined the emergence of the theory of the firm. We argue that advances in the theory of the firm have been strongly influenced...... substantive borrowing from neighbouring disciplines has been relatively limited unde~lie and explain much of the "external" critique of the theory (i.e., the critiques of sociologists, heterodox economists and management scholars)....

  2. Participation of firms in the skills development levy system

    Directory of Open Access Journals (Sweden)

    GJ Lee

    2004-04-01

    Full Text Available Skills development levies are increasingly being utilised to increase enterprise provided training in developing economies. South Africa is one such example. The impact of such incentive systems on the bottom-line of firms is a vital consideration in such programs. Particularly important are the economic conditions under which the incentive will stimulate participation by organisations. The transaction costs of participation must be taken into account: while a levy-grant system clearly creates a prima-facie incentive, it may be prohibitively expensive for some firms to enter the grant disbursement systems. Accordingly, through a simple model of the incentives for firms, the participation level of the firm under various types of levy systems is assessed. Non-monetary considerations are also considered. The implications for participation by firms, along with managerial and policy implications, are discussed.

  3. Female Directors and Firm Performance: Evidence from UK Listed Firms

    Directory of Open Access Journals (Sweden)

    Pananda Pasaribu

    2017-08-01

    Full Text Available The impact of female directors on firm performance has lacked consistency in the previously conducted empirical studies, which may be due to the endogeneity problem, or certain characteristics (i.e. governance, industry, competition. This study examines the relationship between female directors and firm performance by addressing those problems. This study analyses all non-financial UK listed firms during the period 2004-2012 and employs several econometric models. The regression results indicate that there is little evidence that female directors have a positive and strong relationship with firm performance. But, further analysis reports that the UK’s small listed firms experience a positive significant effect, because small firms do not suffer from the problem of over-monitoring and they have more flexibility in composing their boards of directors.

  4. [Coupling coordination evaluation method between eco-environment quality and economic development level in contiguous special poverty-stricken areas of China].

    Science.gov (United States)

    Wang, Yan-hui; Li, Jing-yi

    2015-05-01

    It is one of the important strategies in the new period of national poverty alleviation and development to maintain the basic balance between the ecological environment and economic development, and to promote the coordinated sustainable development of economy and ecological environment. Taking six contiguous special poverty-stricken areas as the study areas, a coupling coordination evaluation method between eco-environment quality and economic development level in contiguous special poverty-stricken areas was explored in this paper. The region' s ecological poverty index system was proposed based on the natural attribute of ecological environment, and the ecological environment quality evaluation method was built up by using AHP weighting method, followed by the design of the coupling coordination evaluation method between the ecological environment indices and the county economic poverty comprehensive indices. The coupling coordination degrees were calculated and their spatial representation differentiations were analyzed respectively at district, province, city, and county scales. Results showed that approximately half of the counties in the study areas achieved the harmoniously coordinated development. However, the ecological environmental quality and the economic development in most counties could not be synchronized, where mountains, rivers and other geographic features existed roughly as a dividing line of the coordinated development types. The phenomena of dislocation between the ecological environment and economic development in state-level poor counties were more serious than those of local poor counties.

  5. Danish firms visit CERN

    CERN Multimedia

    FP Department

    2011-01-01

    30 – 31 JANUARY 2012 09:00 to 17:00 Monday 30 January 09:00 to 17:00 Tuesday 31 January Individual interviews will take place in technicians’ offices. The firms will contact relevant users/technicians but any user wishing to make contact with a particular firm is welcome to use the contact details available from the secretariat of their department or from the GS Department web page. List of Companies: · Axcon APS · BB Electronics A/S · B.Rustfrit Stal A/S · CIM Industrial Systems A/S · Danfysik A/S · Develco A/S · Eletronic A/S · GPV Group · Innoware A/S · JLI Vision A/S · NECAS A/S· NKT Cables A/S · Noliac A/S · Prodan A/S · Röttger’s Vaerktoj A/S · Vengcon APS For further information please contact Claudia Bruggmann Furlan  GS-IS-LS 73312 or Caroline Laignel GS-DI 73722.

  6. Female Directors and Firm Performance: Evidence from UK Listed Firms

    OpenAIRE

    Pasaribu, Pananda

    2017-01-01

    The impact of female directors on firm performance has lacked consistency in the previously conducted empirical studies, which may be due to the endogeneity problem, or certain characteristics (i.e. governance, industry, competition). This study examines the relationship between female directors and firm performance by addressing those problems. This study analyses all non-financial UK listed firms during the period 2004-2012 and employs several econometric models. The regression results indi...

  7. Cognition and motivation in the theory of the firm

    DEFF Research Database (Denmark)

    Foss, Nicolai Juul

    2003-01-01

    Economics in general, and the theory of the firm more specifically, placesmotivation and cognition in very different analytical boxes, in spite ofcognitive science evidence that the boundaries between the two are inreality blurred. While this analytical assumption has often served thetheory of th...... of the `impossibility of selective intervention.'Keywords: The theory of the firm, cognitive and motivational varialtion,selective intervention.......Economics in general, and the theory of the firm more specifically, placesmotivation and cognition in very different analytical boxes, in spite ofcognitive science evidence that the boundaries between the two are inreality blurred. While this analytical assumption has often served thetheory...... of the firm well, a number of organizational phenomena are betterunderstood if cognition and motivation are allowed to interact, forexample, through framing effects, as organizational scholars have longargued. The paper exemplifies by developing the implications of this forWilliamson's notion...

  8. Do Peer Firms Affect Firm Corporate Social Responsibility?

    OpenAIRE

    Shenggang Yang; Heng Ye; Qi Zhu

    2017-01-01

    Peer-firm strategies are a critical factor for corporate finance, and corporate social responsibility (CSR) is the main trend for evaluating the behavior of firms. On the basis of the connection between peer strategy and CSR, this paper explores the CSR strategies employed by a sample of Chinese firms during the 2008–2015 period. Our two main empirical findings are as follows. First, the CSR strategies of firms have a positive effect on their CSR behavior. Second, when there is the CSR gap be...

  9. Do Investors Forecast Fat Firms? Evidence from the Gold Mining Industry

    OpenAIRE

    Borenstein, Severin; Farrell, Joseph

    2006-01-01

    JEL CODES: D21, G3, L2, L72 KEYWORDS: profit function, free cash flow, gold mining, x-efficiency, rent seeking, fat ABSTRACT: Conventional economic theory assumes that firms always minimize costs given the output they produce. News articles and interviews with executives, however, indicate that firms from time to time engage in cost-cutting exercises. One popular belief is that firms cut costs when they are in economic distress, and grow fat when they are relatively wealthy....

  10. Does Input Quality Drive Measured Differences in Firm Productivity?

    DEFF Research Database (Denmark)

    Fox, Jeremy T.; Smeets, Valerie Anne Rolande

    is roughly of the same order of magnitude as some competitive effects found in the literature, but input quality measures do not explain most productivity dispersion, despite economically large production function coefficients. We find that the wage bill explains as much dispersion as human capital measures.......Firms in the same industry can differ in measured productivity by multiples of 3. Griliches (1957) suggests one explanation: the quality of inputs differs across firms. We add labor market history variables such as experience and firm and industry tenure, as well as general human capital measures...

  11. Entrepreneurial mindset of information and communication technology firms

    Directory of Open Access Journals (Sweden)

    M. J. Scheepers

    2008-01-01

    Full Text Available Limited research focuses on the entrepreneurial mindset of information and communication technology (ICT firms, despite the opportunities in and importance of this sector for economic growth. In this article, the entrepreneurial mindset of ICT firms is described by using three indicators: entrepreneurial orientation, e-business initiatives and a supportive organizational climate. Data were obtained using structured telephone interviews with 144 ICT firms. The findings indicate that the three indicators of an entrepreneurial mindset are associated and can be linked to performance. It is recommended that managers create a supportive climate for entrepreneurship by offering rewards, empowering employees and providing leadership and support for initiatives.

  12. Multinational Firms, National Culture, and Gender-Based Employment Discrimination

    OpenAIRE

    John Lawler

    1995-01-01

    Sex segregation in the workplace has been related to a variety of economic, institutional, and social factors. An issue that has only been explored to a limited extent is the role that multinational firms might play in promoting or inhibiting employment discrimination and sex segregation in developing countries. This study focuses on this issue within the context of Thailand, one of the world's most rapidly growing economies and a country with considerable investment by multinational firms. T...

  13. Entrepreneurs, Contracts, and the Failure of Young Firms

    OpenAIRE

    Pierre Azoulay; Scott Shane

    2001-01-01

    Although economic theory has emphasized that moral hazard and hold-up problems influence the design of contracts, very little is known about the process by which explicit contracts are established and the effect of contractual arrangements on firm performance. This paper attempts to demonstrate that firms are selected for survival on the basis of contracting efficiency. Based on a statistical analysis of 170 new franchise contracts and interviews with the founders of 16 of these new franchise...

  14. THE THEORY OF THE FIRM AND THE EVOLUTIONARY GAMES

    Directory of Open Access Journals (Sweden)

    Sirghi Nicoleta

    2013-07-01

    Full Text Available The neoclassical theory of the firm deals with the pattern of perfect competition, within which the perfect information available to economic agents provides instant allocation of production factors and access to economic goods. The Austrian School (C. Menger, L. von Mises, Hayek, etc. supported the idea of minimal state intervention on the markets, bringing important conceptual developments on the theory of the firm. Hirschleifer (1982 put forward the model of social and institutional functioning, arguing that the game theory is able to predict the outcome of the collective behavior and the human characteristics necessary for building the respective institutions.The evolutionary theory provides the firm and the entrepreneur the recognition of the functions of innovation, of generating and exploiting information and of organizing and coordinating production. The evolutionary perspective of the firm assumes the existence of a body of knowledge that is acquired through and builds up the organizational memory, subsequently found in routines, all choices being made based on these routines (Nelson and Winter, 2002. The evolution of the firm is considered to be similar to natural selection, but unlike the classic market selection, the evolutionists suggest the existence of a plurality of selection media. The present research is structured as follows: a brief introduction into the theories of the firm, the second part of the paper analyzes the theories of the firm from an institutional, neo-institutional and evolutionary perspective. In the third part of the paper the evolutionary games are described and analyzed from the evolutionary perspective of the firm. The last part of the paper represents a study of the “hawk-dove” game dynamic replicator. The final conclusions of the paper show that the evolutionary theory brings valuable contributions to the foundation of explanations regarding economic phenomena, indicating new directions for advanced

  15. Firm Search for External Knowledge

    DEFF Research Database (Denmark)

    Sofka, Wolfgang; Grimpe, Christoph

    2012-01-01

    ignored the institutional context that provides or denies access to external knowledge at the country level. Combining institutional and knowledge search theory, we suggest that the market orientation of the institutional environment and the magnitude of institutional change influence when firms begin......The innovation performance of modern firms is increasingly determined by their ability to search and absorb external knowledge. However, after a certain threshold firms "oversearch" their environment and innovation performance declines. In this paper, we argue that prior literature has largely...... to experience the negative performance effects of oversearch. Based on a comprehensive sample of almost 8,000 firms from ten European countries, we find that institutions matter considerably for firms' search activity. Higher market orientation of institutions increases the effectiveness of firms' search...

  16. The financing of innovative firms

    OpenAIRE

    Hall, Bronwyn H.

    2009-01-01

    To what extent are new and/or innovative firms fundamentally different from established firms, and therefore require a different form of financing? The theoretical background for this proposition is presented, and the empirical evidence on its importance is reviewed. Owing to the intangible nature of their investment, asymmetric-information and moral-hazard, these firms are more likely to be financed by equity than debt and behave in some cases as though they are cash-constrained, especially ...

  17. Inside the Family Firm

    DEFF Research Database (Denmark)

    Bennedsen, Morten; Nielsen, Kasper; Pérez-González, Francisco

    2005-01-01

    This paper uses a unique dataset from Denmark to investigate (1) the role of family characteristics in corporate decision making, and (2) the consequences of these decisions on firm performance. We focus on the decision to appoint either a family or an external chief executive officer (CEO). We...... show that a departing CEO's family characteristics have a strong predictive power in explaining CEO succession decisions: family CEOs are more frequently selected the larger the size of the family, the higher the ratio of male children and when the departing CEOs had only had one spouse. We...... then analyze the impact of family successions on performance. We overcome endogeneity and omitted variables problems of previous papers in the literature by using the gender of a departing CEO's first-born child as an instrumental variable (IV) for family successions. This is a plausible IV as male first...

  18. Experiences of Emerging Economy Firms

    DEFF Research Database (Denmark)

    Experiences of Emerging Economy Firms investigates the different elements of the experiences of emerging economy firms and sheds essential light on a large variety of aspects associated with their functioning in both home and host contexts. For example, firms must be able to overcome the liability...... of foreign and emerging issues when they expand their activities in various contexts, enter, exit, and re-enter overseas markets; they have to overcome institutional barriers, adapt the cultural challenges in foreign markets, undergo the impact of large multinational firms from developed economies...

  19. THE INFLUENCE OF FIRMS STRUCTURAL CHARACTERISTICS ON THE DEGREE OF AGGLOMERATION ECONOMIES ENJOYED AMONGST FIRMS IN THE LAGOS REGION, NIGERIA

    Directory of Open Access Journals (Sweden)

    FAGBOHUNKA Adejompo

    2015-12-01

    Full Text Available Agglomeration economies is a potent tool in socio-economic revamping, rejuvenation and sustenance of regions, this is as a result of the impulse it transmitted through the multiplier effect it is capable of generated. Therefore, this paper underscores the influence of firms structural characteristics on the degree of agglomeration economies enjoyed amongst firms, using the Lagos region as a case study. The first stage in the collection of primary data involves the reconnaissance survey, thereafter one hundred and three questionnaire were administered in twelve industrial estates; one questionnaire in each of the firm. The paper reveals the following structural characteristics as germane to industrial enterprise; age of firms, areal plant size (m², capacity utilization (in percentage, and Labour size and firms investment. The paper has also found out those agglomeration economies enjoyed ranges from transportation, labour, power supply, to joint water supply. The Roy’s Largest Root test employed to test for the significance of the canonical correlations at 0.05 significant levels shows the calculated F-value 3.5247 and the tabulated F-value 2.90. This suggests that the degree of agglomeration economies enjoyed by firms is significantly explained by the size and structural characteristics of the firms. The paper therefore recommends more and active government participation in the industrial scene, given the necessary support for the expansion of firm’s structural characteristics which will lead to increase agglomeration economies enjoyed by these firms.

  20. CRITICAL DEVELOPMENT OF COSTING METHODS USED IN THE FURNITURE INDUSTRY, IN THE CONTEXT OF ECONOMIC REALITY SPECIAL XXI CENTURY

    Directory of Open Access Journals (Sweden)

    Ene Dumitru

    2010-12-01

    Full Text Available In the current economic downturn in the furniture industry companies, to face competition, requires new costing methods to succeed, in a flexible manner, fructifying market information, inside to find levers to identify places, resource intensive activities and then cost reduction opportunities. New methods of management cost excess the accounting and economics scope Current economic situation requires this work and converts the cost information into the main tool of insurance competitiveness and profitability of the company. Applying the standard cost in single cost model is a viable business solutions of enterprises in the furniture industry to face strong competition from European Union, specifically in the context of complex economic XXI century.

  1. Cyclicality and Firm Size in Private Firm Defaults

    DEFF Research Database (Denmark)

    Jensen, Thais Lærkholm; Lando, David; Medhat, Mamdouh

    2017-01-01

    The Basel II/III and CRD IV Accords reduce capital charges on bank loans to smaller firms by assuming that the default probabilities of smaller firms are less sensitive to macroeconomic cycles. We test this assumption in a default intensity framework using a large sample of bank loans to private...

  2. Firm Traits and Web Based Disclosures in Top Nigerian Firms

    Directory of Open Access Journals (Sweden)

    Bello Ayuba

    2016-02-01

    Full Text Available The use of the internet as a medium of dissemination of information to stakeholders is increasingly gaining grounds. This study extends existing literature on web disclosures by investigating the characteristics that predict the extent of web-based disclosures. In this study, corporate websites of top Nigerian firms are used as sources of data, while a regression analysis is employed to examine the extent of prediction. Results indicate that the firm size and industry type are significant determinants of web disclosures. However, other firm traits such as ownership dispersion and financial performance do not significantly explain the extent of internet disclosures. The study recommends that a regulatory template for corporate web disclosures be put in place by government regardless of the size or industry classification of the firm. This is with a view to considerably reduce agency conflicts arising from information asymmetry in publicly listed firms in Nigeria.

  3. 75 FR 64351 - The Economic Effects of Significant U.S. Import Restraints: Seventh Update; Special Topic: Global...

    Science.gov (United States)

    2010-10-19

    ... its Internet server ( http://www.usitc.gov ). Persons with mobility impairments who will need special... overview be accessible to readers who may not be professional economists. As in previous reports in this...

  4. Stakeholder Governance, Competition and Firm Value

    OpenAIRE

    Allen, Franklin; Carletti, Elena; Marquez, Robert

    2014-01-01

    In many countries, the legal system or social norms ensure that firms are stakeholder oriented. We analyze the advantages and disadvantages of stakeholder-oriented firms that are concerned with employees and suppliers compared to shareholder-oriented firms in a model of imperfect competition. Stakeholder firms are more (less) valuable than shareholder firms when marginal cost uncertainty is greater (less) than demand uncertainty. With globalization shareholder firms and stakeholder firms ofte...

  5. LA NECESIDAD DE REACTIVACIÓN DEL CRECIMIENTO DE LAS SOCIEDADES LABORALES Y LA REFORMA DE SU LEGISLACIÓN: ANÁLISIS ECONÓMICO-FINANCIERO DE SUS PRINCIPALES IMPLICACIONES / THE NECESSITY OF REACTIVATION OF THE GROWTH OF THE LABOR MANAGED FIRMS AND THE LAW REFORM: ANALYSIS OF ECONOMIC AND FINANCIAL MAIN IMPLICATIONS

    Directory of Open Access Journals (Sweden)

    Sonia MARTÍN LÓPEZ

    2010-04-01

    Full Text Available La crisis económica actual ha debilitado el tejido empresarial español reduciéndose el número de nuevas iniciativas empresariales que se ponen en marcha. Las Sociedades Laborales, no han sido ajenas a los efectos de la citada crisis, y por tanto, también han visto ralentizado el ritmo de nuevas constituciones. No obstante, en el caso de las Sociedades Laborales no sólo es importante analizar la incidencia de la crisis económica, sino que existen otra serie de factores ajenos a la misma que precipitaron su declive antes de que los efectos de la crisis tuvieran su reflejo en la economía española. A lo largo de este trabajo se pretende, una vez estudiados los factores expuestos anteriormente y su incidencia en la evolución y constitución de nuevas sociedades, analizar las implicaciones económicas y financieras más relevantes que podrían tener tanto en las propias Sociedades Laborales y en su evolución futura, como en sus trabajadores, socios y no socios, con contrato indefinido, las principales propuestas elaboradas por CONFESAL (Confederación Empresarial de Sociedades Anónimas Laborales de España de cara a la próxima reforma de su legislación./ The current economic crisis has affected the Spanish enterprises, and the number of new enterprise initiatives that start up has reduced. The Labour Managed Firms have seen slowed down the rate of new constitutions. However, in the case of the Labour Managed Firms not only it is important to analyze the incidence of the economic crisis, but another factors which precipitated their declivity before the arrival of crisis effects. Throughout this work it is tried, once studied the set out factors previously and their incidence in the evolution and constitution of new societies, to analyze the economic and financial implications more important in the own Labour Managed Firms and their future evolution, like in their workers, partners and nonpartners, with indefinite contract, the main

  6. How Aesthetics and Economy Become Conversant in Creative Firms

    DEFF Research Database (Denmark)

    Austin, Robert D.; Hjorth, Daniel; Hessel, Shannon

    2017-01-01

    theory to describe how the economic and aesthetic can be constructively combined. We propose the concept of conversation as a way of theorizing a constructed sociality via which creative firms manage this conflict; we also propose the concept of ensemble as a way of theorizing a conversationally nurtured......Research on creative organizations often highlights a concern that economic influences on creative work might crowd out aesthetic influences. How this concern can be managed, however, is not well understood. Using a case study of an economic/aesthetic conflict within a design firm, we develop...... but fragile form of intensified sociality that most successfully combines conflicting influences when it can be achieved. Together, these theoretical conceptualizations contribute new insights and help organize a fragmented landscape of ideas about work in creative firms....

  7. Board Composition and Firm Performance: Evidence from Bangladesh

    Directory of Open Access Journals (Sweden)

    Afzalur Rashid

    2010-03-01

    Full Text Available This study examines the influence of corporate board composition in the form of representation of outsideindependent directors on firm economic performance in Bangladesh. Two hypotheses are developed toexamine the relationship among composition of board memberships including independent directors andfirm performance. An observation of 274 Bangladeshi firm-years is used in the study. A linear regressionanalysis is used to test the hypotheses. Results reveal that the outside (independent directors cannot addpotential value to the firm’s economic performance in Bangladesh. The idea of the introduction ofindependent directors may have benefits for greater transparency, but the non-consideration of theunderlying institutional and cultural differences in an emerging economy such as Bangladesh may not resultin economic value addition to the firm. The findings provide an insight to the regulators in their quest forharmonization of international corporate governance practices.

  8. How Firms Make Boundary Decisions

    DEFF Research Database (Denmark)

    Dobrajska, Magdalena; Billinger, Stephan; Becker, Markus

    2014-01-01

    We report findings from an analysis of 234 firm boundary decisions that a manufacturing firm has made during a 10 year period. Extensive interviews with all major decision makers located both at the headquarters and subsidiaries allow us to examine (a) who was involved in each boundary decision...

  9. The Internationalisation of Service Firms

    DEFF Research Database (Denmark)

    Blagoeva, Denitsa Hazarbassanova

    The question the thesis aims at resolving is: How do the value creation logics of firms impact their internationalisation? The overall aim of this PhD project is to explore and test an approach to understanding the internationalisation of service firms, based not on opposing them to manufacturing...

  10. Dividend Policy of German Firms

    NARCIS (Netherlands)

    Goergen, M.; Renneboog, L.D.R.; Correia Da Silva, L.

    2004-01-01

    German firms pay out a lower proportion of their cash flows than UK and US firms.However, on a published profits basis, the pattern is reversed.Company law provisions and accounting policies account for these conflicting results.A partial adjustment model is used to estimate the implicit target

  11. Competitive Advantage of Interconnected Firms

    DEFF Research Database (Denmark)

    Nell, Phillip Christopher; Andersson, Ulf

    We model the complex interplay between firm-level variables, notably capabilities and performance, and relationship-level variables: relationship-specific assets and network context. We test how the network context of individual exchange relationships as well as firm-level capabilities jointly af...

  12. Bank Relationship and Firm Profitability

    NARCIS (Netherlands)

    Degryse, H.A.; Ongena, S.

    2000-01-01

    This paper examines how bank relationships affect firm performance. An empirical implication of recent theoretical models is that firms maintaining multiple bank relationships are less profitable than their single-bank peers. We investigate this empirical implication using a data set containing

  13. Does internationalization foster firm performance?

    NARCIS (Netherlands)

    van den Berg, Marcel

    2014-01-01

    The research in this dissertation concerns the impact of internationalization of business activities on several dimensions of firm performance. We show that the productivity ranking by trade status of Dutch manufacturing firms in increasing order of productivity is: non-traders, importers, exporters

  14. Innovation, Small Firm Change, and Employment of Academic Skills

    DEFF Research Database (Denmark)

    Nielsen, René Nesgaard

    This paper starts from samples of economic literature hypothesizing and partly establishing a positive relationship between innovation, firm level change, and skill-bias. Confronting this literature with Danish empirics, and literature on small business economics, a research question...... on the generalizability of skill-bias emerge. Finally, taking advantage of unique Danish data, the empirical part of the paper reports findings indicating an increased likelihood of innovative small firms to hire a first academically skilled worker when compared to non-innovative counterparts. These findings generally...

  15. Analyzing and Predicting Micro-Location Patterns of Software Firms

    Directory of Open Access Journals (Sweden)

    Jan Kinne

    2017-12-01

    Full Text Available While the effects of non-geographic aggregation on statistical inference are well studied in economics, research on the effects of geographic aggregation on regression analysis is rather scarce. This knowledge gap, together with the use of aggregated spatial units in previous firm location studies, results in a lack of understanding of firm location determinants at the microgeographic level. Suitable data for microgeographic location analysis has become available only recently through the emergence of Volunteered Geographic Information (VGI, especially the OpenStreetMap (OSM project, and the increasing availability of official (open geodata. In this paper, we use a comprehensive dataset of three million street-level geocoded firm observations to explore the location pattern of software firms in an Exploratory Spatial Data Analysis (ESDA. Based on the ESDA results, we develop a software firm location prediction model using Poisson regression and OSM data. Our findings offer novel insights into the mode of operation of the Modifiable Areal Unit Problem (MAUP in the context of a microgeographic location analysis: We find that non-aggregated data can be used to detect information on location determinants, which are superimposed when aggregated spatial units are analyzed, and that some findings of previous firm location studies are not robust at the microgeographic level. However, we also conclude that the lack of high-resolution geodata on socio-economic population characteristics causes systematic prediction errors, especially in cities with diverse and segregated populations.

  16. Determinants of firm's innovation

    Czech Academy of Sciences Publication Activity Database

    Zemplinerová, Alena; Hromádková, E.

    2012-01-01

    Roč. 21, č. 4 (2012), s. 487-503 ISSN 1210-0455 R&D Projects: GA MŠk(CZ) OC10062; GA ČR(CZ) GAP402/11/2362 Institutional support: RVO:67985998 Keywords : innovation * research and development * public subsidies Subject RIV: AH - Economics Impact factor: 0.561, year: 2012

  17. Investment, firm value, and risk for a system operator balancing energy grids

    International Nuclear Information System (INIS)

    Dockner, Engelbert J.; Kucsera, Dénes; Rammerstorfer, Margarethe

    2013-01-01

    With the liberalization of energy markets integrated energy companies have separated into entities that specialize in production and/or transmission of energy. Transmission of energy requires balancing the grid to guarantee system security, which is performed by the (independent) system operator (SO). When the SO faces stochastic demand, grid balancing has sizeable consequences on current and future profits, and hence, on firm value and firm risk. We explore these value and risk consequences with and without an investment option to expand transmission capacity. We show that firm value consists of the value of the transmission capacity in place plus the value of a short put and a short call option that are the result of the SO's balancing actions. Firm risk without investment option is non-linear and determined by the short option positions. It is decreasing with increasing energy demand. The existence of an option to expand transmission capacity increases firm value and firm risk. - Highlights: ► Grid balancing under stochastic demand affect current and future revenues, and firm value and firm risk. ► Balancing firm value consists of the value of the transmission capacity plus the value of a short strangle. ► Firm risk without investment option is determined by the short strangle and decreasing with increasing energy demand. ► The existence of an expansion option implies that transmission capacity increases firm value and firm risk

  18. Production, depreciation and the size distribution of firms

    Science.gov (United States)

    Ma, Qi; Chen, Yongwang; Tong, Hui; Di, Zengru

    2008-05-01

    Many empirical researches indicate that firm size distributions in different industries or countries exhibit some similar characters. Among them the fact that many firm size distributions obey power-law especially for the upper end has been mostly discussed. Here we present an agent-based model to describe the evolution of manufacturing firms. Some basic economic behaviors are taken into account, which are production with decreasing marginal returns, preferential allocation of investments, and stochastic depreciation. The model gives a steady size distribution of firms which obey power-law. The effect of parameters on the power exponent is analyzed. The theoretical results are given based on both the Fokker-Planck equation and the Kesten process. They are well consistent with the numerical results.

  19. Comparative Advantages of Spin-off Firms: An Evolutionary Perspective

    Directory of Open Access Journals (Sweden)

    Bilgehan Uzunca

    2011-11-01

    Full Text Available As predicted by evolutionary economics, historical antecedents matter when it comes to the relationship between survival of entrants and organizational capabilities. Spinoff firms provide an exemplary case of such relationship where the founders’ pre-entry capabilities that are inherited from the parent firm increases their survival chances. Looking closer and deeper to the evolutionary spinoff success mechanisms, I examine three specific genetic features which make spinoff firms more advantageous compared to other entrants; namely 1 Genotype: Transfer of blueprint, 2 Phenotype: Organizational learning, and 3 Memes: Informal relations and social capital. A detailed theoretical analysis of each mechanism prevails how they function and provide sustainable competitive advantage to spinoff firms. Testable hypotheses are provided about each mechanism.

  20. Climate policy, asymmetric information and firm survival

    International Nuclear Information System (INIS)

    Hagem, C.

    2001-02-01

    The purpose of this paper is to compare the effect of different domestic climate policy instruments under asymmetric information when the regulator wants to secure the survival of a specific firm. It is a well-known result from economic theory that emission taxes lead to a cost-effective distribution of abatement across polluters. However, if the regulator wants to ensure the survival of a specific firm, it may need to design policy instruments that reduce the firm's cost of complying with an emission tax regime. The climate policy instruments considered in this paper are tradable emission permits with distribution of free permits, emission taxes in combination with a fixed subsidy, and two types of voluntary agreements. It demonstrates first that if distributing free tradable permits shall have a preventing effect, the allocation of permits has to be made contingent on production. It further shows that a voluntary agreement where a specific abatement target is set by the regulator can prevent a shutdown but leads to lower welfare than the use of emission taxes in combination with a fixed subsidy. And finally it illustrates that a voluntary agreement designed as a menu of abatement contracts increases social welfare compared to an emission tax regime

  1. The Role of Firm Ownership on Internationalization

    DEFF Research Database (Denmark)

    Hobdari, Bersant; Gregoric, Aleksandra; Sinani, Evis

    2011-01-01

    This paper investigates how different types of owners influence the extent of firm internationalization, measured by the share of firm exports in total sales. The results of the analysis carried out using firm level data of Estonian and Slovenian firms, show that the firms under the control...... in internationalization process. Finally, high market share also leads to increased internationalization through exports as firms seek to expand in foreign markets after having dominated the domestic ones....

  2. THE FORMATION OF ECONOMIC MECHANISMS OF CORPORATE MARKETS, STIMULATING THE ACTIVATION OF INNOVATIVE ENTREPRENEURSHIP

    Directory of Open Access Journals (Sweden)

    Titov V. V.

    2017-03-01

    Full Text Available As noted by the academician N. P. Fedorenko, «economic incentives is quite rightly regarded as a force deliberately included in the system of optimal functioning of the economy». Thus, the considered problem is relevant for not only the founders and owners of individual firms and corporations, but also for the economy as a whole. The purpose of this research is to develop a theoretical and methodological approach to solving the problem of stimulation of entrepreneurship, innovation and investment activity in industrial enterprises (and other organizations on the basis of economic incentives of their employees, ensuring the implementation of this process. The problem lies in the construction of such economic mechanism that would provide incentives at not only the level of the Corporation as a whole, but at each firm (enterprise and division of firm level and would affect the activity of each employee. This mechanism will be viable only if the distribution of the profit received from realization of work and services in all divisions of the enterprise, firms, corporations involved in carrying out such works in accordance with the quantity and effectiveness of their work based on value added. It uses the principle of self-organization and self-government based on the allocation of the final economic result of their activities using specially designed intra-firm, transfer prices.

  3. Web traffic and firm performance

    DEFF Research Database (Denmark)

    Farooq, Omar; Aguenaou, Samir

    2013-01-01

    Does the traffic generated by websites of firms signal anything to stock market participants? Does higher web-traffic translate into availability of more information and therefore lower agency problems? And if answers to above questions are in affirmative, does higher web-traffic traffic translate...... into better firm performance? This paper aims to answer these questions by documenting a positive relationship between the extent of web-traffic and firm performance in the MENA region during the 2010. We argue that higher web-traffic lowers the agency problems in firms by disseminating more information...... to stock market participants. Consequently, lower agency problems translate into better performance. Furthermore, we also show that agency reducing role of web-traffic is more pronounced in regimes where information environment is already bad. For example, our results show stronger impact of web...

  4. 48 CFR 836.209 - Construction contracts with architect-engineer firms.

    Science.gov (United States)

    2010-10-01

    ... with architect-engineer firms. 836.209 Section 836.209 Federal Acquisition Regulations System DEPARTMENT OF VETERANS AFFAIRS SPECIAL CATEGORIES OF CONTRACTING CONSTRUCTION AND ARCHITECT-ENGINEER...-engineer firms. (a) When the contracting officer considers it necessary or advantageous to award a contract...

  5. 48 CFR 2936.209 - Construction contracts with architect-engineer firms.

    Science.gov (United States)

    2010-10-01

    ... with architect-engineer firms. 2936.209 Section 2936.209 Federal Acquisition Regulations System DEPARTMENT OF LABOR GENERAL CONTRACTING REQUIREMENTS CONSTRUCTION AND ARCHITECT-ENGINEER CONTRACTS Special Aspects of Contracting for Construction 2936.209 Construction contracts with architect-engineer firms. As...

  6. The Theory of the Firm and Its Critics

    DEFF Research Database (Denmark)

    Foss, Nicolai Juul; Klein, Peter G.

    2005-01-01

    Ever since its emergence in the 1970s the modern economic or Coasian theory of the firm has beendiscussed and challenged by sociologists, heterodox economists, management scholars, and othercritics. This chapter reviews and assesses these critiques, focusing on behavioral issues (boundedrationali...... and motivation), process (including path dependence and the selection argument), entrepreneurship,and the challenge from knowledge-based theories of the firm.JEL Codes: B4, D23, L14, L22......Ever since its emergence in the 1970s the modern economic or Coasian theory of the firm has beendiscussed and challenged by sociologists, heterodox economists, management scholars, and othercritics. This chapter reviews and assesses these critiques, focusing on behavioral issues (boundedrationality...

  7. Organizational change in family firms

    OpenAIRE

    HENDRIKX, Karolien; VOORDECKERS, Wim; LAMBRECHTS, Frank

    2009-01-01

    Many organizational change efforts don’t live up to their expectations, with inefficiencies in the interaction process between organizational actors as one of the main potential reasons for this failure. Therefore, this paper will focus on the impact of interaction processes on change within the specific organizational context of family firms. Family firms are particularly interesting for organizational change research since they have several unique characteristics that may facilitate or hind...

  8. Acquired versus Non-Acquired Subsidiaries - Which Entry Mode do Parent Firms Prefer

    OpenAIRE

    Esther Kalkbrenner

    2010-01-01

    Despite the economic importance of international foreign direct investment (FDI) flows, investment decisions of multinational firms are not well understood. A multinational firm can establish a subsidiary in a foreign country through greenfield investment or through acquiring an existing firm in the target country. The goal of this paper is to shed some light on the determinants of foreign market entry modes. In particular to analyze the systematic variation in the mode choice of FDI, namely ...

  9. Firm Exit, Technological Progress and Trade

    DEFF Research Database (Denmark)

    Schröder, Philipp; Sørensen, Allan

    The dynamics of export market exit and firm closure have found limited attention in the new heterogeneous-firms trade literature. In fact, several of the predictions on firm survival and exit stemming from this new class of models are at odds with the stylized facts. Empirically, higher productiv......The dynamics of export market exit and firm closure have found limited attention in the new heterogeneous-firms trade literature. In fact, several of the predictions on firm survival and exit stemming from this new class of models are at odds with the stylized facts. Empirically, higher...... productivity firms survive longer, most firm closures are young firms, higher productivity exporters are more likely to continue to export compared to less productive exporters and market exits as well as firm closures are typically preceded by periods of contracting market shares. The present paper shows...... liberalization on export market exit and firm closure....

  10. The economic impact of Bluetongue and other orbiviruses in sub-Saharan Africa, with special reference to Southern Africa.

    Science.gov (United States)

    Grewar, John Duncan

    2016-09-30

    Bluetongue (BT) and African horse sickness (AHS) are considered the most important orbiviral diseases in Southern Africans countries. The general endemic status makes these diseases challenging to be quanti ed in terms of their economic impact. Using country reported data from BT and AHS outbreaks and cases, as well as international trade data, the economic impact of BT and AHS is evaluated on local, regional, and global scales. Local scale impact in the Southern African region is underestimated as shown by the underreporting of BT and AHS. Exceptions occur during epidemic cycles of the diseases and when the diseases impact regional animal movement and global trade, as in the case of AHS in South Africa. While BT is not directly implicated as a signi cant non-tari barrier for regional movement, there are unspeci ed clauses in import permits which refer to the 'OIE listed diseases' and the freedom thereof includes endemic diseases like BT. African horse sickness has a much more tangible regional and global economic impact because of movement restrictions within AHS control zones in South Africa and through international movement of horses from this country.

  11. INNOVATION AND DIFFUSION IN SMALL FIRMS - THEORY AND EVIDENCE

    NARCIS (Netherlands)

    NOOTEBOOM, B

    1994-01-01

    The article provides an inventory of the strengths and weaknesses of small firms in a dynamic context. To do this it considers verbal accounts of the processes of innovation and diffusion, as well as quantitative studies testing cause-effect relations. ft consider both economic and noneconomic

  12. Bribery environments and firm performance: evidence from CEE countries

    Czech Academy of Sciences Publication Activity Database

    Hanousek, Jan; Kochanova, A.

    2016-01-01

    Roč. 43, June (2016), s. 14-28 ISSN 0176-2680 R&D Projects: GA ČR(CZ) GBP402/12/G097 Institutional support: PRVOUK-P23 Keywords : bureaucratic corruption * firm performance * CEE countries Subject RIV: AH - Economics Impact factor: 1.098, year: 2016

  13. Bribery environments and firm performance: evidence from CEE countries

    Czech Academy of Sciences Publication Activity Database

    Hanousek, Jan; Kochanova, A.

    2016-01-01

    Roč. 43, June (2016), s. 14-28 ISSN 0176-2680 R&D Projects: GA ČR(CZ) GA14-31783S Institutional support: RVO:67985998 Keywords : bureaucratic corruption * firm performance * CEE countries Subject RIV: AH - Economics Impact factor: 1.098, year: 2016

  14. Do institutions, ownership, exporting and competition explain firm performance?

    Czech Academy of Sciences Publication Activity Database

    Commander, S.; Švejnar, Jan

    -, č. 65 (2008), s. 1-73 ISSN N Institutional research plan: CEZ:AV0Z70850503 Keywords : firm performance * ownership * competition * export Subject RIV: AH - Economics http://deepblue.lib.umich.edu/bitstream/2027.42/60636/4/IPC-working%20paper-065-CommanderSvejnar.pdf

  15. Measuring business dynamics among incumbent firms in The Netherlands

    NARCIS (Netherlands)

    Folkeringa, M.; van Stel, A.; Suddle, K.; Tan, S.

    2008-01-01

    Business dynamics in an industry is generally seen as an important indicator of the industry's level of competitiveness and economic performance. Two types of business dynamics may be distinguished: business dynamics reflecting competition by new-firm entries and business dynamics reflecting

  16. Estimating security betas using prior information based on firm fundamentals

    NARCIS (Netherlands)

    Cosemans, Mathijs; Frehen, Rik; Schotman, Peter; Bauer, Rob

    We propose a hybrid approach for estimating beta that shrinks rolling window estimates towards firm-specific priors motivated by economic theory. Our method yields superior forecasts of beta that have important practical implications. First, hybrid betas carry a significant price of risk in the

  17. Estimating Security Betas Using Prior Information Based on Firm Fundamentals

    NARCIS (Netherlands)

    Cosemans, Mathijs; Frehen, Rik; Schotman, Peter; Bauer, Rob

    2016-01-01

    We propose a hybrid approach for estimating beta that shrinks rolling window estimates toward firm-specific priors motivated by economic theory. Our method yields superior forecasts of beta that have important practical implications. First, unlike standard rolling window betas, hybrid betas carry a

  18. Competitive actions of small firms in a declining market

    Science.gov (United States)

    Matthew Bumgardner; Urs Buehlmann; Albert Schuler; Jeff Crissey

    2011-01-01

    Small firms, through their flexibility advantages and closeness to customers, potentially can increase their sales volume in economic downturns. The decline in U.S. housing construction (beginning in 2006) provided an opportunity to develop and test four hypotheses predicting the attributes and marketing actions associated with successful companies supplying housing...

  19. The Profit-Maximizing Firm: Old Wine in New Bottles.

    Science.gov (United States)

    Felder, Joseph

    1990-01-01

    Explains and illustrates a simplified use of graphical analysis for analyzing the profit-maximizing firm. Believes that graphical analysis helps college students gain a deeper understanding of marginalism and an increased ability to formulate economic problems in marginalist terms. (DB)

  20. Inter-firm relationships and governance structures: A study of the ...

    African Journals Online (AJOL)

    Administrator

    paying special attention to transaction cost theory, the network approach to inter- firm dynamics .... world economy. Instead of viewing governance as a black box of simple .... Structural Holes: The Social Structure of Competition. Cambridge ...

  1. Shaking up the Firm Survival: Evidence from Yogyakarta (Indonesia

    Directory of Open Access Journals (Sweden)

    Aloysius Gunadi Brata

    2018-04-01

    Full Text Available The survival of firms under changes in the business environment caused by exogenous shocks can be explained using economic Darwinism. Exogenous shocks can cause ‘cleansing effects’. Shocks clean out unproductive firms so that available resources are allocated to the remaining more productive firms. However, shocks may also force out young firms that have the potential to be highly productive in the future, which will lower the average productivity of industries. This is known as the ‘scarring effect’ of shocks. Therefore, the overall impact of exogenous shocks on the allocation of resources depends on the relative magnitude of cleansing and scarring effects. This paper investigates this natural selection mechanism after the Yogyakarta earthquake in 2006. The study uses data on medium-sized and large manufacturing firms in the Yogyakarta province collected by the Indonesian Statistical Agency. The main finding of this paper is that firms that had higher productivity prior to the earthquake in 2006 were more likely to survive after the earthquake, which suggests the existence of a natural selection mechanism, specifically cleansing effects. There is no evidence of the scarring effects of the earthquake on the new entrants.

  2. An empirical examination of the influence of industry and firm drivers on the rate of internationalization by firms

    Science.gov (United States)

    Elango, B.

    A gradual shift in U.S. firms' 'center of gravity' toward international markets is taking place. This study seeks to explain which drivers are related to this push toward international markets by U.S. firms. In addressing internationalization, previous research has not focused on various drivers that influence the rate of internationalization. Drivers refer to forces, both within and outside the firm, that impact (both positively and negatively) a firm's extent of internationalization. The role of these drivers on the rate of internationalization, though acknowledged in the literature, is yet to be validated through empirical research. This research seeks to narrow the gap in the literature by testing the various relationships among industry drivers, firm drivers, and the rate of internationalization. The objectives of this study are: (A) To develop a conceptual framework that takes into account various forces that influence the internationalization strategy of a firm; (B) To examine empirically (a) the influence of industry drivers on the rate of internationalization pursued by firms; and, (b) the influence of firm drivers on the rate of internationalization by firms. The sample for this study consists of 158 large U.S.- based multinational firms drawn from seven different industries. Data for the study is gathered from a variety of sources including the U.S. Department of Commerce, Bureau of Economic Analysis; COMPUSTAT; and WORLDSCOPE databases. Set-wise regression models were used for data analysis. This study found that global market growth rate, domestic market growth rate, relative size of domestic market to international market, employee productivity, administrative investments, as well as new plant and equipment influences the international strategy of firms. This study explains about 24 percent of the variance of the rate of internationalization. This research finding is contributory to our existing understanding of internationalization in many ways

  3. Pengaruh Family Control, Firm Size, Firm Risk, Dan Firm Life Cycle Terhadap Profitabilitas Dan Nilai Perusahaan Sektor Industri Barang Konsumsi

    OpenAIRE

    Servin, Servin

    2014-01-01

    This study aims to examine the effect of family control, firm size, firm risk, and firm lifecycle towards profitability and firm's value. Sampels were taken from 27 consumer goodscompanies, listed in Indonesia Stock Exchange, ranging from 2010 – 2012. The hypotheseswere tested using multiple regression analysis. In this study, profitability was measured byROA (Return on Asset) and firm's value was measured by Tobin's q. The result were, familycontrol and life cycle stage-growth had negative i...

  4. How Is Corporate Social Responsibility Addressed by Biotech Firms? a Case Study Analysis

    Science.gov (United States)

    Pérez-Bustamante, Guillermo

    2013-01-01

    This paper explores corporate social responsibility (CSR) in the biotech high-tech sector as a way to achieve competitive advantages. After presenting the importance of science for high-tech firms, the paper focuses on the social and economic role of CSR. Next, the primary reasons for firms' engagement in CSR activities are presented, followed by…

  5. Exploring location influences on firm survival rates using parametric duration models

    NARCIS (Netherlands)

    Manzato, G.G.; Arentze, T.A.; Timmermans, H.J.P.; Ettema, D.F.; Timmermans, H.J.P.; Vries, de B.

    2010-01-01

    Using parametric duration models applied to an office firm dataset, we carried out an exploratory study about the location influences on firm survival rates. Amongst the variables included, we found that accessibility to infrastructure supply, regional effects, demographic and economic aspects, and

  6. Exploring location influences on firm survival rates using parametric duration models

    NARCIS (Netherlands)

    Manzato, G.G.; Arentze, T.A.; Timmermans, H.J.P.; Ettema, D.F.

    2011-01-01

    Using parametric duration models applied to an office firm dataset, we carried out an exploratory study about the location influences on firm survival rates. Amongst the variables included, we found that accessibility to infrastructure supply, regional effects, demographic and economic aspects, and

  7. Moderating the Role of Firm Size in Sustainable Performance Improvement through Sustainable Supply Chain Management

    Directory of Open Access Journals (Sweden)

    Jing Wang

    2018-05-01

    Full Text Available In the context of the Chinese government’s strategy for sustainable development, the study of sustainable supply chain management (SSCM for enterprises has important practical significance. Drawing data from 172 Chinese firms, the model studied the moderating role of firm size on the SSCM practices and the sustainable performance of the firms (economic, environmental, and social, using hierarchical regression analysis on SPSS 22.0. The results suggest that SSCM practices and firm size are positively related to the firm’s environmental and social performance. Firm size moderates the effect of SSCM practices on economic performance. Additionally, SSCM internal practices have a significant positive impact on the economic performance of large enterprises, but not so much on the economic performance of the Small and medium enterprises(SMEs. This paper proposes a comprehensive SSCM practice performance model that identifies firm size as a moderating role. Through research on the moderating effect of firm size, the implementation and recommendation of SSCM for different firm size are given.

  8. Resources access needs and capabilities as mediators of the relationship between VC firm size and syndication

    NARCIS (Netherlands)

    E. Verwaal (Ernst); J. Bruining (Hans); D.M. Wright (Mike); S. Manigart (Sophie); A. Lockett (Andy)

    2010-01-01

    textabstractDrawing from the resource-based view and transaction costs economics, we develop a theoretical framework to explain why small and large firms face different levels of resource access needs and resource access capabilities, which mediate the relationship between firm size and hybrid

  9. A review of 'theories of the firm' and their contributions to Corporate Sustainability

    NARCIS (Netherlands)

    Lozano, Rodrigo; Carpenter, Angela; Huisingh, Donald

    2015-01-01

    Corporate Sustainability has arisen as an alternative to traditional, short-term, profit-oriented approaches to managing the firm by holistically balancing economic, environmental, and social issues in the present generation and for future ones. Although a number of theories of the firm have been

  10. Merger incentives and the failing firm defense

    NARCIS (Netherlands)

    Bouckaert, J.M.C.; Kort, P.M.

    2014-01-01

    The merger incentives between profitable firms differ fundamentally from the incentives of a profitable firm to merge with a failing firm. We investigate these incentives under different modes of price competition and Cournot behavior. Our main finding is that firms strictly prefer exit of the

  11. 40 CFR 745.89 - Firm certification.

    Science.gov (United States)

    2010-07-01

    ... 40 Protection of Environment 30 2010-07-01 2010-07-01 false Firm certification. 745.89 Section 745... § 745.89 Firm certification. (a) Initial certification. (1) Firms that perform renovations for compensation must apply to EPA for certification to perform renovations or dust sampling. To apply, a firm must...

  12. Selection of workers and firm heterogeneity

    NARCIS (Netherlands)

    G.W.J. Hendrikse (George)

    1992-01-01

    textabstractA model based on differences between workers regarding their preferences for wage and leisure drives the heterogeneity of firms result. The more industrious workers are driven to small firms due to free riding in large firms. An industry consisting of small and large firms turns out to

  13. Process Ambidexterity for Entrepreneurial Firms

    Directory of Open Access Journals (Sweden)

    Sonia D. Bot

    2012-04-01

    Full Text Available Technology-based entrepreneurial firms must effectively support both mainstream exploitation and new-stream exploration in order to remain competitive for the long term. The processes that support exploitation and exploration initiatives are different in terms of logistics, payoff horizons, and capabilities. Few firms are able to strike a balance between the two, where mainstream exploitation usually trumps new-stream exploration. The ultimate goal is for the firm to operate effectively in a repeatable, scalable, and systematic manner, rather than relying on good luck and hoping either to come up with the next innovation or for the product to function according to its requirements. This article builds on the author’s years of experience in building businesses and transforming medium and large-sized, entrepreneurial technology firms, leading large-scale breakthrough and sustained performance improvements by using and evolving Lean Six Sigma methodologies, and reviews of technology innovation management and entrepreneurship literature. This article provides a process-based perspective to understanding and addressing the issues on balancing mainstream exploitation and new-stream exploration in medium and large-sized entrepreneurial firms and extending it to startups. The resulting capability is known as process ambidexterity and requires disciplined, agile, and lean business management.

  14. Socio-economic Dimensions, Causes and Curbing Measures of Corruption in Developing Economies with A Special Reference to Jordan

    Directory of Open Access Journals (Sweden)

    Dr. Khalil Elian Abdelrahim

    2013-11-01

    Full Text Available The research problem is that very little is known about the socio-economic dimensions, causes, and anti-curbing measures of corruption in developing economies particularly Jordan. The study aims at discussing the features of corruption in developing economies including Jordan. The study concludes that Jordan comes at a high level of corruption worldwide with a rank 59 among 180 countries at Corruption Perception Index (CPI which ranges between zero (most corrupted and  100  (least corrupted, but among Arab countries, Jordan comes at rank 4  preceded by Qatar, Arab Emirates and Bahrain . Lack of legal, public and economic reform besides political instability, lack of transparency, monopoly, high taxes, long procedures and barrier to trade often go hand in hand with corruption besides the  bribes provided by some companies in developed countries. Corruption is there in the private and public sectors. National anti-corruption agencies often fail to curb corruption due to lack of the power to persecute and lack of proper training of staff to be good investigators. Corruption breeds poverty, high prices and lack of foreign investment. Addressing corruption requires paying attention to its causes, role of incentives and institutional reform. Curbing corruption begins with designing better legal and administrative systems, reducing monopolies, inflicting severe penalties for both givers and takers of bribes, besides a free press and transparent privatization of public enterprise

  15. Objectives, Budgets, Thresholds, and Opportunity Costs-A Health Economics Approach: An ISPOR Special Task Force Report [4].

    Science.gov (United States)

    Danzon, Patricia M; Drummond, Michael F; Towse, Adrian; Pauly, Mark V

    2018-02-01

    The fourth section of our Special Task Force report focuses on a health plan or payer's technology adoption or reimbursement decision, given the array of technologies, on the basis of their different values and costs. We discuss the role of budgets, thresholds, opportunity costs, and affordability in making decisions. First, we discuss the use of budgets and thresholds in private and public health plans, their interdependence, and connection to opportunity cost. Essentially, each payer should adopt a decision rule about what is good value for money given their budget; consistent use of a cost-per-quality-adjusted life-year threshold will ensure the maximum health gain for the budget. In the United States, different public and private insurance programs could use different thresholds, reflecting the differing generosity of their budgets and implying different levels of access to technologies. In addition, different insurance plans could consider different additional elements to the quality-adjusted life-year metric discussed elsewhere in our Special Task Force report. We then define affordability and discuss approaches to deal with it, including consideration of disinvestment and related adjustment costs, the impact of delaying new technologies, and comparative cost effectiveness of technologies. Over time, the availability of new technologies may increase the amount that populations want to spend on health care. We then discuss potential modifiers to thresholds, including uncertainty about the evidence used in the decision-making process. This article concludes by discussing the application of these concepts in the context of the pluralistic US health care system, as well as the "excess burden" of tax-financed public programs versus private programs. Copyright © 2018 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

  16. Family firm research – A review

    Directory of Open Access Journals (Sweden)

    Qiang Cheng

    2014-09-01

    Part I of the article discusses the fundaments of family firms: the prevalence of and the agency conflicts within family firms. Part II summarizes the findings of recent U.S. family firm studies. It reviews the evidence on the family firm premium (how, which, and when family firms are associated with a valuation premium, the manifestation of the agency conflict between majority and minority shareholders in family firms, earnings quality and corporate disclosure, and the determinants of family ownership and control. Part III discusses the prevalence and characteristics of Chinese family firms and reviews the findings of related studies. The article concludes with some suggestions for future research.

  17. Research Article Special Issue

    African Journals Online (AJOL)

    pc

    2018-03-07

    Mar 7, 2018 ... characterized by historically developed specialization, a special geographical location ... We are listed under Research Associations category. ... product, service or technology providing economic and/or public benefit, additional in ...... the region's competitiveness // International Business Management.

  18. 78 FR 55056 - Notice of Petitions by Firms for Determination of Eligibility To Apply for Trade Adjustment...

    Science.gov (United States)

    2013-09-09

    ... vehicles such as military transport and civilian first responder utility vehicles. Nedza International Inc... DEPARTMENT OF COMMERCE Economic Development Administration Notice of Petitions by Firms for Determination of Eligibility To Apply for Trade Adjustment Assistance AGENCY: Economic Development...

  19. Consumer Networks and Firm Reputation

    DEFF Research Database (Denmark)

    Huck, Steffen; Lünser, Gabriele K.; Tyran, Jean-Robert

    Arguing that consumers are the carriers of firms' reputations, we examine the role of consumer networks for trust in markets that suffer from moral hazard. When consumers are embedded in a network, they can exchange information with their neighbours about their private experiences with different ...... sellers. We find that such information exchange fosters firms' incentives for reputation building and, thus, enhances trust and efficiency in markets. This efficiency-enhancing effect is already achieved with a rather low level of network density......Arguing that consumers are the carriers of firms' reputations, we examine the role of consumer networks for trust in markets that suffer from moral hazard. When consumers are embedded in a network, they can exchange information with their neighbours about their private experiences with different...

  20. Knowledge management in the firm

    DEFF Research Database (Denmark)

    Rasmussen, Palle; Nielsen, Peter

    2011-01-01

    to innovation and illustrates how combinations of these might benefit firm performance. It also stresses the preconditions of employee involvement and participation to knowledge management and not least the importance of interaction with environmental resources. To improve performance firms should be aware......Purpose – The purpose of this paper is to set focus on, and discuss the concept of knowledge, and show how the interrelations between knowledge and other concepts, such as learning, have become a decisive element in managing human resources and firm performance. Design....../methodology/approach – The dimensions of knowledge management are identified and related to learning, organizational configurations, human resources management and institutional environments in order to identify and percent the most important approaches to knowledge management and the development over time. Findings – Creating...

  1. FROM INDUSTRIAL DISTRICTS TO FIRMS NETWORKS: THE ITALIAN CASE

    Directory of Open Access Journals (Sweden)

    colantonio emiliano

    2014-12-01

    Full Text Available The local source for competitiveness is vital to achieve static and dynamic economies of scale for firms; it is useful to interact with the aim of learning and innovating. The local system can create benefit by opening to international markets and it should be a good source of knowledge and technology. Nowadays, the concept of industrial district, usually characterized by the spatial proximity of the involved firms, may evolve into firms network; this may emphasize the advantages deriving from cooperation, without the need of spatial proximity. Firms networks may represent the evolution of industrial districts, where territoriality is overcome by the dissolution of borders. The importance of firms networks is increased since they intensify information exchange, continuous learning, stimulate economies of scale, allow economic development and give more market opportunities. Firms networks share different aims, resource, common interests and factors, like material and immaterial inputs and outputs. This new form of cooperation may allow to overcome physical distance and replicate knowledge and information. Firms networks may represent a success organizational forms that may give impetus to development in an economy. They are based on mutual trust between partners and are created over time to facilitate information circulation, knowledge dissemination and innovation. Trust reduces uncertainty and transaction cost and limits the opportunistic behaviour by free-rider agents. The aim of the paper is to assess the determinants for firms networks training in the Italian context using regional data. Particularly, the firms networks development needs key factors such as ICTs diffusion, high rate of social security, open capability, RxD activities. These factor constitute the basis for a new kind of capital, the so called “network capital”. It consists of collaborative practices in a network as the result of cooperation in the ICTs era. Network capital

  2. Stability, Bifurcation, and Chaos in N-Firm Nonlinear Cournot Games

    Directory of Open Access Journals (Sweden)

    Akio Matsumoto

    2011-01-01

    Full Text Available An N-firm production game known as oligopoly will be examined with isoelastic price function and linear cost under al Cournot competition. After the best responses of the firms are determined, a dynamic system with adaptive expectations is introduced. It is first shown that the local asymptotic behavior of the system is identical with that of the adaptive adjustment process in which the firms cautiously determine their outputs. Dynamic analysis is confined to two special cases, one in which N is divided into two groups and the other in which N is divided into three groups. Then stability conditions will be derived and the global behavior of the equilibria will be illustrated including chaos control. Lastly the two- and three-group models are compared with two-firm (duopoly and three-firm (triopoly models to shed light on roles of the number of the firms.

  3. Swedish Listed Family Firms and Entrepreneurial Spirit

    OpenAIRE

    Bjuggren, Per-Olof; Palmberg, Johanna

    2008-01-01

    This paper investigates the entrepreneurial spirit in Swedish listed family firms. We associate family firms with entrepreneurship in the sense that there is an identifiable person that takes the uninsurable risk in the sense of Knight. This paper analysis two questions: Do entrepreneurial family firms have a higher rate of growth and do they invest in a more profit maximizing fashion than other listed firms? The analysis shows that entrepreneurial family firms in general are smaller in terms...

  4. Stakeholder capitalism, corporate governance and firm value

    OpenAIRE

    Allen, Franklin; Carletti, Elena; Marquez, Robert

    2007-01-01

    In countries such as Germany, the legal system is such that firms are necessarily stakeholder oriented. In others like Japan social convention achieves a similar effect. We analyze the advantages and disadvantages of stakeholder-oriented firms that are concerned with employees and suppliers compared to pure shareholder-oriented firms. We show that in a context of imperfect competition stakeholder firms have higher prices and lower output than shareholder-oriented firms. Surprisingly, we also ...

  5. The German 2020 Energy Turnaround Index featuring a special focus on economic efficiency; Energiewende-Index Deutschland 2020. Fokusthema Wirtschaftlichkeit

    Energy Technology Data Exchange (ETDEWEB)

    Vahlenkamp, Thomas [McKinsey and Company, Duesseldorf (Germany); Gohl, Matthias [McKinsey and Company, Berlin (Germany)

    2012-12-15

    The decision to raise the levy imposed by the Renewable Energies Law has kindled the discussion as to how the energy turnaround can best be implemented and made affordable in the first place. The search for solutions should be founded on as full a picture of the situation as possible as well as a fact base shared by all. The aspiration and purpose of the German 2020 Energy Turnaround Index created by McKinsey and Company is to create precisely such a fact base. Every 3 months the index gives an update on the status of the energy turnaround based on 15 indicators. The present update additionally takes a closer look at the aspect of economic efficiency, which together with climate and environment protection and security of supply forms the triad of imperatives driving the energy turnaround.

  6. The Verdoorn law, firm strategy and firm performance

    NARCIS (Netherlands)

    Hartigh, den E.; Langerak, F.; Zegveld, M.A.; Geenhuizen, van M.; Trzmielak, D.M.; Gibson, D.V.; Urbaniak, M.

    2009-01-01

    In many markets and firms, positive feedback effects play an important role. Positive feedback effects mean that there is a tendency for that which is ahead to get further ahead, and for that which loses advantage to lose further advantage (Arthur, 1996). Such positive feedback effects result from

  7. Audit firm rotation, audit firm tenure and earnings conservatism

    NARCIS (Netherlands)

    Kramer, S.T.; Georgakopoulos, G.; Sotiropoulos, I.; Vasileiou, K.Z.

    2011-01-01

    This study aims to contribute to the debate around the possibility of mandating audit firm rotation. Specifically, it examines conservatism as an attribute of earnings quality, which has not attracted particular attention in the auditor rotation research. Applying regression analyses on a sample,

  8. Firm-Specific Learning and the Nature of the Firm

    DEFF Research Database (Denmark)

    Knudsen, Thorbjørn

    2007-01-01

    that a conjoint research program, encompassing both transaction costs and capabilities, must be developed and tested empirically. Cet article discute les limites d'une explication de l'existence de la firme fondée exclusivement sur les coûts de transaction en indiquant quelques facteurs additionnels susceptibles...... d'intervenir. Un modèle heuristique simple montre que les effets d'apprentissage spécifiques à la firme peuvent surmonter les coûts de surveillance des employés et expliquer l'existence de la firme même en l'absence de coûts de transaction liés au mode d'organisation de marché. Une comparaison de l......'importance relative des explications fondées sur les coûts de transaction et celles fondées sur les compétences en ce qui concerne l'existence de la firme montre qu'il n'y a aucune raison a priori de supposer la suprématie d'un type d'explication à l'autre. Nous soutenons qu'un programme de recherche conjoint...

  9. Firm Culture and Leadership as Firm Performance Predictors : a Resource-Based Perspective

    NARCIS (Netherlands)

    Wilderom, C.P.M.; van den Berg, P.

    2000-01-01

    In this study, we tested part of the resource-based view of the firm by examining two 'soft' resources, firm culture and top leadership, as predictors of 'hard' or bottom-line firm performance.Transformational top leadership was found to predict firm performance directly while the link between firm

  10. The Relationship between Offshoring Strategies and Firm Performance: Impact of innovation, absorptive capacity and firm size

    NARCIS (Netherlands)

    M.W. Roza-van Vuren (Marja)

    2011-01-01

    textabstractHow do offshoring strategies impact firm performance? And how are innovation, absorptive capacity and firm size influencing this relationship? This research investigates how firms of varying size, well-established firms and growing firms may profit from relocating business activities to

  11. Enterprise Performance in Asia: Using firm-level data for Policy ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Enterprise Performance in Asia: Using firm-level data for Policy-making. Micro and small enterprises play a critical role in job creation and economic ... prevent gender-based violence, and make digital platforms work for inclusive development.

  12. Criteria to identify and define territories with productive development potential to establish Special Economic Zones of Development (SEZD in Costa Rica

    Directory of Open Access Journals (Sweden)

    Rafael Arias Ramírez

    2015-07-01

    Full Text Available This study is aimed to identify, based on a series of variables and indicators, territories that have characteristics to propitiate an endogenous development, from the basis of the resource endowment they have, along with a productive policy, at the national and local level to promote it. A county´s index of productive potential is built around three components (productive, infrastructure and institutions; then a cluster analysis is applied. The outcomes of the study are not only new for the country, also they make a contribution with the elaboration of a matrix of variables and indicators, which provide criteria, empirically validated, to identify and define Special Economic Zones of Development (SEZD for Costa Rica.

  13. Siting of nuclear power stations and the scope of preoperational investigations with special considerations of demographic aspects and the economic utilization of the neighbouring areas

    International Nuclear Information System (INIS)

    Bijak, J.

    1976-01-01

    The studies are presented on the location of atomic power stations in Poland made so far. The methods used in the studies are described which were done in two stages: preliminary location studies on the macroregional scale, and location studies on one or more of the chosen locations. Part one deals with general conditions which have to be met for location of atomic power stations and with preliminary assumptions accepted by GBS i PE ''Energoprojekt'' for location studies. Regulations and recommendations for establishing sites for atomic power stations are also given. Special location conditions are dealt with more extensively, the enviromental hazards and the need for their studies being particularly emphasized. Part two describes the scope of studies made prior to and after the time location investigations. Demographic studies and the economic utilization of the neighbouring areas are presented in more detail. (author)

  14. Siting of nuclear power stations and the scope of preoperational investigations with special considerations of demographic aspects and the economic utilization of the neighbouring areas. [Poland

    Energy Technology Data Exchange (ETDEWEB)

    Bijak, J [Biuro Studiow i Projektow ' Energoprojekt' , Warsaw (Poland)

    1976-01-01

    Studies are presented on the location of atomic power stations in Poland. The methods used in the studies are described which were done in two stages: preliminary location studies on the macroregional scale, and location studies on one or more of the chosen locations. Part one deals with general conditions which have to be met for location of atomic power stations and with preliminary assumptions accepted by GBS i PE ''Energoprojekt'' for location studies. Regulations and recommendations for establishing sites for atomic power stations are also given. Special location conditions are dealt with more extensively, the enviromental hazards and the need for their studies being particularly emphasized. Part two describes the scope of studies made prior to and after the time location investigations. Demographic studies and the economic utilization of the neighbouring areas are presented in more detail.

  15. Job-hopping and New Firm Survival

    DEFF Research Database (Denmark)

    Failla, Virgilio

    The paper builds on Lazear´s (2005) jack-of-all-trades theory according to which individuals who invest in a balanced set of skills become entrepreneurs, while workers who specialize in a particular skill prefer to choose wage employment. Although a number of studies provide empirical support...... for this theory, little is known about the characteristics of this so called `balanced´ skills set. Do entrepreneurial outcomes of individuals presenting a highly varied work experiences differ from entrepreneurs with a less varied career' In particular, how do the characteristics of the entrepreneurs´ job...... intend to become entrepreneurs are able to move to the best firms in order to accumulate the right experiences and pursue an investment in human capital (i.e. a varied set of the right experiences) that will turn out to be the more useful for the new venture´s success. The data used consists of the whole...

  16. Economic Organization and Imperfect Managerial Knowledge

    DEFF Research Database (Denmark)

    Jensen, Henrik

    question guiding this effort is: What managerial challenges arise from having distributed knowledge within a firm and how does the manager’s knowledge of this knowledge matter for economic organization? The dissertation consists of three research papers, each exploring a dimension of the research question....... The first paper investigates antecedents of coordination break-down and how teams differ in their ability to coordinate specialized knowledge and skills. The second paper provides a theoretical framework for theorizing about the role of managers’ knowledge about employees’ knowledge for economic......When companies depend on knowledge distributed among employees, managers play a key role in establishing cooperation and coordination systems. This dissertation investigates the implications of managers’ knowledge about the knowledge and skills of employees for economic organization. The research...

  17. Corporate Social Responsibility and Environmentally Sound Technology in Endogenous Firm Growth

    Directory of Open Access Journals (Sweden)

    Angela C. Chao

    2017-02-01

    Full Text Available We have entered the “New Normal” economy, with more emphasis on economic growth driven by innovation than resource. This paper investigates the impacts of firms considering corporate social responsibility and environmentally sound technology by building a three-stage Cournot competition model with asymmetric cost. The sustainable development of economic and endogenous firm growth achieves the win–win result in the theoretical model. Using data from 31 firms in China, this paper empirically researches on the relationships among corporate social responsibility, environmentally sound technology and firm endogenous growth. The results show that: (1 Marginal cost decreased with the increase of innovation, as well as getting government research and development subsidy, which has a positive effect on firm growth. (2 Consumers respond positively to corporate social responsibility initiative, the reputation of the firm can be improved. At the same time, environmentally sound technology objectively reduces the marginal cost of competitors because of the technology spillover. (3 Profit of a firm undertaking corporate social responsibility partly decreases, which has a negative effect on firm growth. The contradiction between corporate social responsibility and profit of firm could be adjusted, such as socially responsible investment fund hosed by institutional investors.

  18. Changing organizational structures and management systems in coal industry with special consideration of the economic sphere. [Poland

    Energy Technology Data Exchange (ETDEWEB)

    Szaflik, J.

    1985-01-01

    Organizational models are analyzed for underground black coal mining in Poland from 1945 to 1984. From 1945 to 1949 organizational model of coal mining was based on selected solutions successfully tested in pre-war Poland. Coal mining was supervised by the Central Board of the Coal Industry. Coal mines were grouped in 8 and later in 10 mine associations. In 1949 the Central Board was dissolved and replaced by the Ministry of Mining and Power Generation. Role of Mine Associations was modified. Further changes were introduced in 1957. Power of Mine Associations in relation to individual coal mines increased. From 1972 to 1975 plans for a structural reform in the coal industry were developed but never realized. From 1980 to 1981 a program of structural changes in management of coal industry (in particular, underground coal mining) was developed. From 1982 to 1984 provisions of the economic reform in relation to coal mines were temporarily suspended. In 1984 a new organizational structure of the coal industry was introduced. The structure is similar to traditional structures used in previous decades (stronger position of mine associations, which since 1984 have been called Mine Unions, etc.). 9 references.

  19. Economic impact of interventional study on rational use of antiseptics and disinfectants in Super Speciality Hospital of Nagpur.

    Science.gov (United States)

    Agarwal, Vandana; Gharpure, Kunda; Thawani, Vijay; Makhija, Sushil; Thakur, Anita; Powar, Rajaram

    2008-03-01

    To measure the impact of interventions on rational use of antiseptics and disinfectants (A and D) for cost containment in Super Speciality Hospital (SSH) of Government Medical College, Nagpur (GMCN), India. This study was conducted from October 2003 to March 2007 in SSH of GMCN. In the pre-interventional phase (Phase-I), purchase, stocking and distribution of A and D was studied to find problem areas. Based on this formative data an intervention was planned (Phase-II) during which rationing of the A and D was done. Rational quantities needed for different A and D procedures were calculated based on recommendations of National Aids Control Organization (NACO) with modifications to suit our hospital setup. Detailed information, education, communication and training about rational use of A and D were provided to the hospital staff. In the post-interventional phase (Phase-III), the use of A and D was rationalized at the distribution level and the efficacy of in-use A and D was tested at user sites. Data about medicine expenditure, patient record and A and D usage in various departments was obtained from hospital records. Savings on A and D as against total annual medicine expenditure was calculated taking the cost of A and D in the post-intervention period. The expenditure on A and D as a result of intervention decreased by 20.7%. Out of the total medicine expenditure, the expenditure on A and D which accounted for 6.2% before intervention, decreased to 1.95% after the intervention. The information, education and communication (IEC) interventions attempted by us resulted in significant decrease in the use and expenditure of A and D.

  20. Approaches to Aggregation and Decision Making-A Health Economics Approach: An ISPOR Special Task Force Report [5].

    Science.gov (United States)

    Phelps, Charles E; Lakdawalla, Darius N; Basu, Anirban; Drummond, Michael F; Towse, Adrian; Danzon, Patricia M

    2018-02-01

    The fifth section of our Special Task Force report identifies and discusses two aggregation issues: 1) aggregation of cost and benefit information across individuals to a population level for benefit plan decision making and 2) combining multiple elements of value into a single value metric for individuals. First, we argue that additional elements could be included in measures of value, but such elements have not generally been included in measures of quality-adjusted life-years. For example, we describe a recently developed extended cost-effectiveness analysis (ECEA) that provides a good example of how to use a broader concept of utility. ECEA adds two features-measures of financial risk protection and income distributional consequences. We then discuss a further option for expanding this approach-augmented CEA, which can introduce many value measures. Neither of these approaches, however, provide a comprehensive measure of value. To resolve this issue, we review a technique called multicriteria decision analysis that can provide a comprehensive measure of value. We then discuss budget-setting and prioritization using multicriteria decision analysis, issues not yet fully resolved. Next, we discuss deliberative processes, which represent another important approach for population- or plan-level decisions used by many health technology assessment bodies. These use quantitative information on CEA and other elements, but the group decisions are reached by a deliberative voting process. Finally, we briefly discuss the use of stated preference methods for developing "hedonic" value frameworks, and conclude with some recommendations in this area. Copyright © 2018 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

  1. Coping with the Crisis: Recent Evolution in Danish Firms' International Trade Involvement, 2000-2010

    DEFF Research Database (Denmark)

    Abreha, Kaleb Girma; Smeets, Valerie Anne Rolande; Warzynski, Frederic Michel Patrick

    of products exported and markets served) and scale of exporting activities; considerable dominance of multi-product and multi-destination firms; existence of carry-along trade; the prevalence of core and peripheral products in exports; a small role of economy-wide entry and exit of firms and products......Using a highly disaggregated firm-product-destination level data from Denmark, we document salient features of Danish international production in the recent decade. These include systematic variation in export participation of firms across industries; positive correlation between the scope (number......, and a sizable role of firm-level adding and dropping of products and product-destination combinations as a margin of trade adjustment. Finally, we show that firms responded to the latest economic shock mainly by adjusting the scale of exports and imports. At the same time, changing their products and product-destination...

  2. Credit scarcity in developing countries: An empirical investigation using Brazilian firm-level data

    Directory of Open Access Journals (Sweden)

    Antônio Marcos Hoelz Pinto Ambrozio

    2017-01-01

    Full Text Available The aim of this paper is to investigate whether Brazilian manufacturing firms are credit constrained. We exploit a rich database that contains more than three thousand firms with characteristics that may affect their degree of credit constraint: size, being listed in the Brazilian stock market and level of exports-sales ratio. Our results show that all dimensions considered here may affect the sensitiveness of investment to cash flow. Large firms, stock market listed firms as well as firms with better export capacity are associated with inexistence or less credit restriction. Specifically, considering firms’ size, our results corroborate the economic theory prediction and empirical international literature. Furthermore, the influence of being listed in the stock market and export capacity is beyond any possible correlation with size. Even small and middle firms are not credit constrained when listed in the stock market or when the exports-sales ratio is higher.

  3. Does the EU Funding Increase Competitiveness of Firms by Supporting Organisational Changes?

    Directory of Open Access Journals (Sweden)

    Martinez Felipe

    2015-06-01

    Full Text Available Competitive firms with a good economic performance contribute to social development and quality of life. Countries and regions support competitiveness of firms through public policies and public funds. The research concerns question whether financial support from public funds actually helped to increase competitiveness in firms through organisational changes. This paper explores the relationship between competitiveness of firms (measured by sales divided by employment with organisational structure changes and the amount of financial resources from the EU Structural Funds. The data were collected from the Czech Statistical Office and a survey among Czech firms. The estimates provide us with conclusion that only the European Social Funds assistance had a positive effect on productivity, but not organisational changes in firms.

  4. Small firm transformation through IS

    NARCIS (Netherlands)

    Levy, Margi; Powell, Philip

    2008-01-01

    Globally, Small and Medium-sized Enterprises (SMEs) are encouraged, particularly by governments, to embrace c-business. Fully adopting e-business involves substantial change in firms, both internally and externally. However, there is little understanding of the mechanisms by which such business

  5. Firm default and aggregate fluctuations

    NARCIS (Netherlands)

    Jacobson, Tor; Linde, Jesper; Roszbach, Kasper

    This paper studies the relationship between macroeconomic fluctuations and corporate defaults while conditioning on industry affiliation and an extensive set of firm-specific factors. By using a panel data set for virtually all incorporated Swedish businesses over 1990-2009, a period which includes

  6. Disability Management in Small Firms.

    Science.gov (United States)

    Drury, David

    1991-01-01

    Notes that American research has paid relatively little attention to prospects for adapting disability management practices to financial and management environment of smaller employers. Compares large and small firms in terms of employer disability practices and characteristics of disabled workers; discusses barriers to rehabilitation and…

  7. Drivers of Discretionary Firm Donations in Brazil

    Directory of Open Access Journals (Sweden)

    Rodrigo Bandeira-de-Mello

    2008-10-01

    Full Text Available Discretionary firm donation is usually related to the stakeholder theory and corporate social performance. Although theoretical explanations for this social behavior are pervasive in related literature, empirical modeling remains underdeveloped. We developed an explanatory structural model of discretionary firm donation using firm and industry level indicators. Unlike previous research, we estimated the explanatory power of the construct we called stakeholder orientation. Our tentative model was tested on a Brazilian sample of 101 publicly traded donor firms, using data on firm donations to social projects and to political candidates in electoral campaigns. The main results suggest that discretionary donation seems to be a strategy for managing conflicting claims in highly stakeholder oriented firms; the characteristics of the firm are more important than industry effects in explaining firm donations; and large firms, showing slack resources, and with a less concentrated ownership structure tend to engage in discretionary donation more intensively.

  8. Foreign Entry and Heterogeneous Growth of Firms

    DEFF Research Database (Denmark)

    Deng, Paul Duo; Jefferson, Gary H.

    We adopt the framework of Schumpeterian creative destruction formalized by Aghion et al. (2009) to analyze the impact of foreign entry on the productivity growth of domestic firms. In the face of foreign entry, domestic firms exhibit heterogeneous patterns of growth depending on their technologic...... manufacturing. Our empirical results confirm that foreign entry indeed generates strong heterogeneous growth patterns among domestic firms.......We adopt the framework of Schumpeterian creative destruction formalized by Aghion et al. (2009) to analyze the impact of foreign entry on the productivity growth of domestic firms. In the face of foreign entry, domestic firms exhibit heterogeneous patterns of growth depending on their technological...... distance from foreign firms. Domestic firms with smaller technological distance from their foreign counterparts tend to experience faster productivity growth, while firms with larger technological distance tend to lag further behind. We test this hypothesis using a unique firm-level data of Chinese...

  9. Immigrants’ initial firm allocation and earnings growth

    Directory of Open Access Journals (Sweden)

    Wen Ci

    2017-05-01

    Full Text Available While employers are playing an increasingly important role in immigration selection in Canada, little is known about how firm-level characteristics affect the economic integration of immigrants. Using a Canadian employer–employee matched dataset, this paper considers whether immigrants initially employed in low-paying firms in Canada experienced inferior earnings growth than those initially employed in high-paying firms. The results show that the large earnings differential observed between immigrants initially employed in low- and high-paying firms diminished only slightly over the subsequent 14 years, even when differences in demographic and general human capital characteristics are taken into account. Alors que les employeurs jouent un rôle de plus en plus important dans la sélection des immigrants qui s’établissent au Canada, on en sait peu sur la façon dont les caractéristiques au niveau de l’entreprise influencent l’intégration économique de ces derniers. Au moyen d’un ensemble de données appariées sur les employeurs et les employés, le présent document vise à déterminer si la croissance des gains des immigrants employés initialement au Canada par des entreprises à bas salaires est plus faible que celle des gains des immigrants employés au départ par des entreprises à hauts salaires. Les résultats montrent que l’écart important observé entre les gains des immigrants employés au départ par des entreprises à bas salaires et de ceux employés par des entreprises à hauts salaires ne diminuait que légèrement au cours des 14 années suivantes, même après avoir tenu compte des différences de caractéristiques démographiques et de caractéristiques générales du capital humain.

  10. LITERATURE REVIEW ON CORPORATE GOVERNANCE - FIRM PERFORMANCE RELATIONSHIP

    Directory of Open Access Journals (Sweden)

    Pintea Mirela-Oana

    2015-07-01

    Full Text Available In the matter of corporate governance reforms, an important aspect is whether the implementation of corporate governance principles and codes has a positive impact on firm performance. The literature testing the relationship between different corporate governance mechanisms and firm performance is extensive. Over time, a lot of corporate governances mechanisms were studied in relation to firm performance and the most used are: CEO duality, board size, proportion of non- executive directors, board committees, ownership structure and concentration, managers’ compensation and incentives schemes. With time, different authors began to use more comprehensive measures for corporate governance rather than a single variable or a single governance mechanism, the so called corporate governance indexes. Regarding performance there are three main approaches to firm performance in social science research: research based on market prices, accounting ratios and total factor profitability.The most used performance measures are: Tobin’s Q, return on equity, return on asset and economic value added. In our paper, we present the studies undertaken since the 1990’s regarding the relationship between different mechanisms of corporate governance and firm performance and between corporate governance index and performance for both developed and developing countries around the world. Regarding the working tools used in this theoretical research we can mention the longitudinal method, by presenting the evolution in time of empirical studies on the research topic and the comparative method used in presenting the resulys of different studies mentioned in our paper. The results of the studies are inconclusive, some studies founded a strog positive relation, others founded a negative correlation between corporate governance and firm performance, while a third category of studies didn’t found any relationship at all. We used participative observation method by issuing

  11. The Identity of Ownership on Firm Internationalization

    DEFF Research Database (Denmark)

    Strandskov, Jesper; Madsen, Tage Koed; Pedersen, Bent

    2016-01-01

    The paper develops an integrative ownership-internationalization model that explores the influences of various owner types (i.e. investor-owned firms, family-owned firms, employee-owned firms, cooperative–owned firms, and state-owned firms) on firm internationalization. Based on a comparative...... analysis of the various owner types, we discuss how each owner group’s main objectives, risk behavior and provision of resources influence their internationalization strategies and decisions (i.e. scale, scope and speed decisions)....

  12. Firm Based Trade Models and Turkish Economy

    Directory of Open Access Journals (Sweden)

    Nilüfer ARGIN

    2015-12-01

    Full Text Available Among all international trade models, only The Firm Based Trade Models explains firm’s action and behavior in the world trade. The Firm Based Trade Models focuses on the trade behavior of individual firms that actually make intra industry trade. Firm Based Trade Models can explain globalization process truly. These approaches include multinational cooperation, supply chain and outsourcing also. Our paper aims to explain and analyze Turkish export with Firm Based Trade Models’ context. We use UNCTAD data on exports by SITC Rev 3 categorization to explain total export and 255 products and calculate intensive-extensive margins of Turkish firms.

  13. Factors Stimulating Internationalisation of Firms: An Attempted Holistic Synthesis

    Directory of Open Access Journals (Sweden)

    Magdalena Belniak

    2015-06-01

    Full Text Available The main goal of this paper is the critical and synthetic analysis of internationalisation process factors, with reference to business management. It presents a systematic review of the most important relational ideas in regard to factors of firm-level internationalisation. The text includes the synthesis of previous academic studies and results of empirical researches on internationalisation factors. The motives for going international are explained in reference to external and internal factors. Different definitions of understanding external factors of internationalisation of firms are discussed, among them (i framework factors (market, cost, governmental, competitive and additional factors, (ii conditioning factors (factor and demand conditions, related and supporting industries, firm strategy, structure and rivalry as well as (iii general environment factors (economic environment, demographic environment, political and legal environment, technological, natural and socio-cultural environment. Internal factors of internationalisation are mostly rooted in the resource-based view. Motives for going international mainly depend on top management team, international resources and firms specifics. The paper underlines that there are numerous factors, both external and internal, which influence international activities of firms. Despite the fact that the decision to internationalize is focused on specific motives and goals, the role of managers is crucial.

  14. Spatial, socio-economic and demographic variation of childlessness in India: A special reference to reproductive health and marital breakdown

    Directory of Open Access Journals (Sweden)

    Praween Agrawal

    2013-01-01

    Full Text Available Background/Objective India observe double burden of fertility – childlessness along with high fertility, which brings it close to a developed country. Childlessness has serious demographic, social and health implications. We explored spatial variation of childlessness women in India along with several socio-economic and demographic correlates. Further we examined maternal and reproductive health problems among childless women and linkages between marital breakdown (divorce and childlessness, in comparison to fertile women. Methods Cross-sectional data from 27,505 currently married women, aged 21-49 years, who were interviewed in 1998-99 National Family Health Survey (NFHS-2. These women had been filtered out from all India samples (90,303 based on criteria such as, age more than 20 years, currently not using any family planning methods, marital duration more than 3 years and staying with their husband. Multiple logistic regression analysis was used to estimate the prevalence odds ratios for childlessness, adjusting for various covariates. Results Overall, 7% of currently married women in India were childless. Southern (10.9 and Western (10.7 region shows highest percentage of childless women while central region exhibits lowest (4.7% percentage of childlessness. Andhra Pradesh state shows highest percent of childless women (13.3% followed by Goa (11.8%. Women with high school complete and above education (OR:1.16;p=0.053, women belonging to other religion (OR:1.51;p=0.004, women belonging to other (general caste (OR:1.20;p=0.007, women belonging to higher standard of living households (OR:1.30;p<0.0001, currently not working women (OR:1.42;p<0.0001, spousal age gap of 15 years and above (OR:1.55;p<0.0001 were more likely to be childless whereas women in rural area (OR:0.53;p<0.0001 and Muslims women (OR:0.53;p<0.0001 were almost half likely to be childless than their counterparts. Maternal health problems, self reported reproductive health

  15. Firm size distribution and mobility of the top 500 firms in China, the United States and the world

    Science.gov (United States)

    Guo, Jinzhong; Xu, Qi; Chen, Qinghua; Wang, Yougui

    2013-07-01

    This paper considers the macroscopic and microscopic statistical features of the top 500 firms in China, the United States and the world, denoted as China 500 (CH500), Fortune 500 (US500) and Fortune Global 500 (FG500). From a macroscopic perspective, the firm size distribution of each category, when measured by revenue, is steadily distributed over the observed period, even during periods of financial crises. As is evidenced by the Gini coefficient, divergences between firm scales are most significant for the CH500. From a microscopic perspective, the underlying micro-dynamics are volatile and often turbulent due to the exit and entry of firms as well as shifts in their revenues and ranks. Such fluctuations, or mobility, are visualized in rank/revenue/share clocks. We also propose a revenue/rank/share mobility index that is a quantitative measurement of mobility. Among these, we find that the share mobility acts as an effective indicator of economic status; where there is a share mobility spike, there is an ailing economy. The share mobility indexes indicate that the 2008 Financial Crisis had little impact on the Chinese economy, while it triggered violent changes in the top 500 firms in the United States and the world.

  16. Spatial, socio-economic and demographic variation of childlessness in India: A special reference to reproductive health and marital breakdown

    Directory of Open Access Journals (Sweden)

    Praween Agrawal

    2012-01-01

    Full Text Available Background/Objective India observe double burden of fertility – childlessness along with high fertility, which brings it close to a developed country. Childlessness has serious demographic, social and health implications. We explored spatial variation of childlessness women in India along with several socio-economic and demographic correlates. Further we examined maternal and reproductive health problems among childless women and linkages between marital breakdown (divorce and childlessness, in comparison to fertile women. Methods Cross-sectional data from 27,505 currently married women, aged 21-49 years, who were interviewed in 1998-99 National Family Health Survey (NFHS-2. These women had been filtered out from all India samples (90,303 based on criteria such as, age more than 20 years, currently not using any family planning methods, marital duration more than 3 years and staying with their husband. Multiple logistic regression analysis was used to estimate the prevalence odds ratios for childlessness, adjusting for various covariates. Results Overall, 7% of currently married women in India were childless. Southern (10.9 and Western (10.7 region shows highest percentage of childless women while central region exhibits lowest (4.7% percentage of childlessness. Andhra Pradesh state shows highest percent of childless women (13.3% followed by Goa (11.8%. Women with high school complete and above education (OR:1.16;p=0.053, women belonging to other religion (OR:1.51;p=0.004, women belonging to other (general caste (OR:1.20;p=0.007, women belonging to higher standard of living households (OR:1.30;p<0.0001, currently not working women (OR:1.42;p<0.0001, spousal age gap of 15 years and above (OR:1.55;p<0.0001 were more likely to be childless whereas women in rural area (OR:0.53;p<0.0001 and Muslims women (OR:0.53;p<0.0001 were almost half likely to be childless than their counterparts. Maternal health problems, self reported reproductive health

  17. Do family CEOs impact firm value? An empirical analysis of Indian family firms

    Directory of Open Access Journals (Sweden)

    Lakshmi Kalyanaraman

    2015-01-01

    Full Text Available We study the association between family CEO and firm value on a sample of 288 family firms during the 6-year period, from 2009 to 2014. The sample is drawn from domestic private companies belonging to non-financial services sector included in the NSE CNX 500 index. We find that family CEO has no significant association with firm value, when the family is not the majority shareholder. Family shareholding has positive relationship with firm value, but does not moderate the relationship of family CEO with firm value. We show that family CEO and firm value are negatively related when the family does not hold majority equity stake in the family firm. While family shareholding has no significant relationship with firm value, it has a negative interaction effect on the relationship between family CEO and firm value. The research findings have important implications for family firms as well as the nonfamily investors in the family firms.

  18. Multiple Blockholder Structures and Family Firm Performance

    DEFF Research Database (Denmark)

    Fattoum-Guedri, Asma; Guedri, Zied; Delmar, Frédéric

    2018-01-01

    This study examines how multiple blockholder structures affect family firm performance. Building on arguments from both principal–principal agency and familiness perspectives, we suggest that asymmetrical distribution of voting power among family and nonfamily blockholders hurts firm performance....

  19. An Aspirational Community Theory of the Firm

    DEFF Research Database (Denmark)

    Li, Xin

    propose an aspirational community theory of the firm (ACT) as a candidate theory by conceptualizing the firm as an aspirational community, the core of which is a group of like-minded people sharing similar or same aspiration/vision. To explain the existence of the firm, we make a distinction between......All of the three major theories of the firm, i.e., the transaction cost theory, knowledge-based theory and the entrepreneurship theory, offer some insightful analyses of the nature of the firm. However, they all have limitations and weaknesses in answering the fundamental question of the existence...... of the firm. In addition, they are all partial due to their particular focus on the multifaceted phenomenon of the firm. We argue that it is necessary and sufficient to develop a comprehensive yet integrative theory of the firm that combines the three competing yet complementary logics. Toward this end, we...

  20. Reproducing the Firm : Routines, Networks, and Identity

    NARCIS (Netherlands)

    Dolfsma, Wilfred; Chong-Simandjuntak, Liza; Geurts, Amber

    2017-01-01

    Firm survival or reproduction does not occur as a matter of course. Especially under circumstances in which uncertainty and equivocality prevail is firm reproduction potentially problematic. Uncertainty prevails when there is insufficient or inadequate information to assess a situation, equivocality

  1. The equity of the initial allocation of the greenhouse gases releases permits to firms: an approach of the public choice by the moral philosophy and the economic analysis; L'equite de l'allocation initiale de permis d'emission negociables de gaz a effet de serre a des entreprises: un eclairage du choix public par la philosophie morale et l'analyse economique

    Energy Technology Data Exchange (ETDEWEB)

    Leseur, A

    2004-10-15

    In order to fight against the climatic change, the European directive 87/2003 provides for 2005 the adoption of a European market of negotiable releases permits but entrusts each state with choosing the method of permits allocation to the concerned domestic firms. Underwriting the reaching of the aim of pollution abatement in minimizing the global costs developed, the permits market is an economical tool of environmental policy chose for this double efficiency. But on which criteria determine the initial allocation? One of the most pertinent referents is the equity. What are the requirements for this in this situation? Seizing on this question, the thesis considers the contribution that can bring the moral and political philosophy, in particular the theories of the distributive justice, taking into account of two important aspects of the problem: 1)the property to distribute has particular characteristics, particularly the negotiability; 2)the attributing agents are firms and not the physical persons. In the first part, the thesis reveals, via the economical analysis, the operation of a permit competitive market and identifies the stakes, both at the pollution decision level than of the firms production in various contexts of market, and at those of the input or output decisions. In the second part, this work deals with the justice theories. The approach consists at first to establish their relevance showing that a firm can be considered as a moral entity, and be subject of duties and rights. Then, the question is to adapt the theories argumentation to this entity. This work emphasizes particularly the idea of a right to the chances equality for the competitiveness. It is then in the tension between this right and the duty to comply with the environmental policy that is found the equitable allocation. (O.M.)

  2. The equity of the initial allocation of the greenhouse gases releases permits to firms: an approach of the public choice by the moral philosophy and the economic analysis; L'equite de l'allocation initiale de permis d'emission negociables de gaz a effet de serre a des entreprises: un eclairage du choix public par la philosophie morale et l'analyse economique

    Energy Technology Data Exchange (ETDEWEB)

    Leseur, A

    2004-10-15

    In order to fight against the climatic change, the European directive 87/2003 provides for 2005 the adoption of a European market of negotiable releases permits but entrusts each state with choosing the method of permits allocation to the concerned domestic firms. Underwriting the reaching of the aim of pollution abatement in minimizing the global costs developed, the permits market is an economical tool of environmental policy chose for this double efficiency. But on which criteria determine the initial allocation? One of the most pertinent referents is the equity. What are the requirements for this in this situation? Seizing on this question, the thesis considers the contribution that can bring the moral and political philosophy, in particular the theories of the distributive justice, taking into account of two important aspects of the problem: 1)the property to distribute has particular characteristics, particularly the negotiability; 2)the attributing agents are firms and not the physical persons. In the first part, the thesis reveals, via the economical analysis, the operation of a permit competitive market and identifies the stakes, both at the pollution decision level than of the firms production in various contexts of market, and at those of the input or output decisions. In the second part, this work deals with the justice theories. The approach consists at first to establish their relevance showing that a firm can be considered as a moral entity, and be subject of duties and rights. Then, the question is to adapt the theories argumentation to this entity. This work emphasizes particularly the idea of a right to the chances equality for the competitiveness. It is then in the tension between this right and the duty to comply with the environmental policy that is found the equitable allocation. (O.M.)

  3. Progressive Taxes and Firm Births

    OpenAIRE

    Hans Ulrich Bacher; Marius Brülhart

    2013-01-01

    Tax reform proposals in the spirit of the 'flat tax' model typically aim to reduce three parameters: the average tax burden, the progressivity of the tax schedule, and the complexity of the tax code. We explore the implications of changes in these three parameters on entrepreneurial activity, measured by counts of firm births. The Swiss fiscal system offers sufficient intra-national variation in tax codes to allow us to estimate these effects with considerable precision. We find that high ave...

  4. The firm-nature relationship

    DEFF Research Database (Denmark)

    Ulhøi, John Parm; Madsen, Henning

    2005-01-01

    Taking the stakeholder concept of the firm as a starting point, the paper presents data and analyses from a longitudinal study initiated in 1995 and repeated every four years. In discussing state-of-the-art insights and experiences, the paper identifies challenges which, if adequately addressed......, reducing it to a question of self-regulated eco-modernist actions. In closing, the paper addresses implications for academia and industry....

  5. Constitutional orders in multinational firms

    DEFF Research Database (Denmark)

    Hull Kristensen, Peer; Morgan, Glenn

    Multinationals are faced with the problem of how to coordinate different actors and stop `fiefdoms' emerging that inhibits the achievement of transnational cooperation? We identify this as a problem of `constitutional ordering' in the firm. Drawing on Varieties of Capitalism approaches, we explore...... how multinationals from different contexts seek to create constitutional orders. We argue that the models which exist appear to be destructive of coordination. We explore the implications for MNCs....

  6. Tender Systems and Processes within the Mauritian Construction Industry: Investigating the Predominance of International Firms and the Lack of Absorptive Capacity in Local Firms

    OpenAIRE

    K. Appasamy; P. Paul

    2016-01-01

    Mauritius, a developing small-island-state, is facing a recession which is having a considerable economic impact particularly on its construction sector. Further, the presence of foreign entities, both as companies and workers, within this sector is creating a very competitive environment for local firms. This study investigates the key drivers that allow foreign firms to participate in this sector, in particular looking at the international and local tender processes, and the capacity of loc...

  7. Reorganization of Firms and Labor Market Inequality

    OpenAIRE

    Lindbeck, Assar; Snower, Dennis J.

    1997-01-01

    Much of the history of economic enterprise has involved reaping the benefits from specialization of labor by dividing increasingly fragemented tasks among different employees - as vividly described already by Adam Smith in his Wealth of Nations. This development was greatly facilitated through the rise of "Tayloristic organizations," where standardized inputs are processed to yield standardized outputs, and where different functional tasks (e.g. administration, production, marketing, design) ...

  8. International taxation and multinational firm location decisions

    OpenAIRE

    Barrios Cobos, Salvador; Huizinga, Harry; Laeven, Luc; Nicodème, Gaëtan J.A.

    2008-01-01

    Using a large international firm-level data set, we estimate separate effects of host and parent country taxation on the location decisions of multinational firms. Both types of taxation are estimated to have a negative impact on the location of new foreign subsidiaries. In fact, the impact of parent country taxation is estimated to be relatively large, possibly reflecting its international discriminatory nature. For the cross-section of multinational firms, we find that parent firms tend to ...

  9. 10 CFR 603.1230 - Commercial firm.

    Science.gov (United States)

    2010-01-01

    ... 10 Energy 4 2010-01-01 2010-01-01 false Commercial firm. 603.1230 Section 603.1230 Energy... Used in this Part § 603.1230 Commercial firm. A for-profit firm or segment of a for-profit firm (e.g., a division or other business unit) that does a substantial portion of its business in the commercial...

  10. Gender premium and economic downswings

    NARCIS (Netherlands)

    Shehu, Elona; Shahzad, Khurram; Rubbaniy, Ghulame; Perveen, Abida

    2017-01-01

    Using data of 2140 US firms over the period of 1998–2012, we investigate if gender–compensation relationship exists in executives’ compensation and bonus plans of the US firms; and whether this compensation difference is more visible during economic downswings. We find that not only the gender

  11. Ciclo de corte econômico ótimo em floresta ombrófila densa de terra firme sob manelo florestal sustentável, Amazônia Oriental Optimum economic cutting cycle in a terra firme dense ombrophylous forest under sustained management, Eastern Amazon

    Directory of Open Access Journals (Sweden)

    Deoclides Ricardo de Souza

    2004-10-01

    Full Text Available Este estudo teve como objetivo estimar o ciclo de corte e o estoque de colheita ótimo, no qual a taxa anual do crescimento da floresta se iguala à taxa anual de juros oferecida pelo mercado de capital. A pesquisa foi conduzida na Unidade de Manejo Florestal (UMF da Fazenda Tracajás (02º35'53"S e 47º47'10"W, empresa Nova Era Agroflorestal, município de Paragominas, Estado do Pará, Brasil. A unidade de manejo florestal foi estratificada em classes I, II e III de estoques volumétricos, empregando-se análises de agrupamento e discriminante. Em cada classe de estoque foram instaladas aleatoriamente cinco parcelas de 100 x 100 m (1,0 ha, para medição dos indivíduos com dap > 15 cm. No centro de cada parcela foi instalada uma subparcela de 10 x 100 m (0,1 ha, para medição dos indivíduos com 5 cm The objective of the present study was to estimate the optimum cutting cycle and harvest stock, where forest annual growing rate equals the annual interest rate offered by the financial market. The research was carried out at the Forest Management Unit (FMU in Tracajás Farm (02º35'53" S and 47º47'10"W, owned by Nova Era Agroflorestal, in Paragominas, Pará, Brazil. The forest was stratified in three homogeneous areas denominated classes of volumetric stock I, II and III, through multivariate analysis (cluster and discriminant analysis. In each of the stock classes, five 100 x 100 m plots (1 ha were randomly set up to measure individuals with dbh > 15cm. In the center of each 100 x 100 m plot, a 10 x 100 m subplot (0,1 ha was installed to measure individuals with 5cm < dbh < 15 cm. In stock class I, the optimum economic cycles were 13, 12, and 8 years; in stock class II, 18, 12 and 12 years; in stock class III, 22, 12 and 14 years, considering an average annual increment of 3,0 m³/ha/year. Higher remuneration rates for the invested capital were verified for the shorter cutting cycles, regardless of the commercial harvest. Higher annual volume

  12. Does Firm Innovation Affect Corporate Social Responsibility?

    NARCIS (Netherlands)

    R. Shen (Rui); Y. Tang (Yi); Y. Zhang (Ying)

    2016-01-01

    textabstractThis study examines the relationship between firm innovation and CSR. Stakeholders’ concern over transaction-specific investments exacerbates when firms engage heavily in innovation activities. To secure stakeholders’ support, firms adopt CSR effectively as an ex ante signal of

  13. Finding the "Right Staff" in Small Firms

    Science.gov (United States)

    Barrett, Rowena; Neeson, Robyn; Billington, Leo

    2007-01-01

    Purpose: The purpose of this paper is to explore what owners of small firms are looking for from new employees. The aim is to pursue this in light of the debate around formality and informality of small firm HRM, exploring the extent to which the small firms studied had formalized HRM practices. Design/methodology/approach: The data reported here…

  14. The Dividend Policy of German Firms

    NARCIS (Netherlands)

    Andres, C.; Betzer, A.; Goergen, M.; Renneboog, L.D.R.

    2008-01-01

    Abstract: German firms pay out a lower proportion of their cash flows, but a higher proportion of their published profits than UK and US firms. We estimate partial adjustment models and report two major findings. First, German firms base their dividend decisions on cash flows rather than published

  15. The Dividend Policy of German Firms

    NARCIS (Netherlands)

    Andres, C.; Betzer, A.; Goergen, M.; Renneboog, L.D.R.

    2008-01-01

    German firms pay out a lower proportion of their cash flows, but a higher proportion of their published profits than UK and US firms. We estimate partial adjustment models and report two major findings. First, German firms base their dividend decisions on cash flows rather than published earnings as

  16. 7 CFR 51.893 - Firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Firm. 51.893 Section 51.893 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Table Grapes (European or Vinifera Type) 1 Definitions § 51.893 Firm. Firm means...

  17. 7 CFR 51.705 - Fairly firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.705 Section 51.705 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... § 51.705 Fairly firm. Fairly firm as applied to common oranges, means that the fruit may be slightly...

  18. 7 CFR 51.1551 - Firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Firm. 51.1551 Section 51.1551 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Potatoes 1 Definitions § 51.1551 Firm. Firm means that the potato is not shriveled...

  19. 7 CFR 51.1831 - Fairly firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.1831 Section 51.1831 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Florida Tangerines Definitions § 51.1831 Fairly firm. Fairly firm means that the...

  20. 7 CFR 51.696 - Firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Firm. 51.696 Section 51.696 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... § 51.696 Firm. Firm as applied to common oranges, means that the fruit is not soft, or noticeably...

  1. 24 CFR 200.47 - Firm commitments.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Firm commitments. 200.47 Section 200.47 Housing and Urban Development Regulations Relating to Housing and Urban Development (Continued... Eligibility Requirements for Existing Projects Commitment Applications § 200.47 Firm commitments. A valid firm...

  2. 7 CFR 51.774 - Fairly firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.774 Section 51.774 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Florida Grapefruit Definitions § 51.774 Fairly firm. Fairly firm means that the...

  3. 7 CFR 51.1156 - Firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Firm. 51.1156 Section 51.1156 Agriculture Regulations... Standards for Grades of Florida Oranges and Tangelos Definitions § 51.1156 Firm. Firm as applied to common... oranges of the Mandarin group (Satsumas, King, Mandarin), “firm” means that the fruit is not extremely...

  4. 7 CFR 51.2843 - Fairly firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.2843 Section 51.2843 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Fairly firm. Fairly firm means that the onion may yield slightly to moderate pressure but is not...

  5. 7 CFR 51.634 - Firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Firm. 51.634 Section 51.634 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing...) Definitions § 51.634 Firm. Firm means that the fruit is not soft, or noticeably wilted or flabby, and the skin...

  6. 7 CFR 51.1012 - Fairly firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.1012 Section 51.1012 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Persian (Tahiti) Limes Definitions § 51.1012 Fairly firm. Fairly firm means that the fruit is...

  7. 7 CFR 51.1353 - Firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Firm. 51.1353 Section 51.1353 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Pears for Canning Definitions § 51.1353 Firm. Firm means that the pear is fairly solid and...

  8. 7 CFR 51.3204 - Fairly firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.3204 Section 51.3204 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Bermuda-Granex-Grano Type Onions Definitions § 51.3204 Fairly firm. Fairly firm...

  9. 78 FR 70987 - Proxy Advisory Firm Roundtable

    Science.gov (United States)

    2013-11-27

    ... Firm Roundtable AGENCY: Securities and Exchange Commission. ACTION: Notice of roundtable discussion... advisory firms. The panel will be asked to discuss topics including the current state of proxy advisory firm use by investment advisers and institutional investors and potential changes that have been...

  10. 7 CFR 51.1006 - Firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Firm. 51.1006 Section 51.1006 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Persian (Tahiti) Limes Definitions § 51.1006 Firm. Firm means that the fruit is not soft or...

  11. 7 CFR 51.1824 - Firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Firm. 51.1824 Section 51.1824 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Florida Tangerines Definitions § 51.1824 Firm. Firm means that the flesh is not soft...

  12. 7 CFR 51.1167 - Fairly firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.1167 Section 51.1167 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Florida Oranges and Tangelos Definitions § 51.1167 Fairly firm. Fairly firm as...

  13. 7 CFR 51.765 - Firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Firm. 51.765 Section 51.765 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Florida Grapefruit Definitions § 51.765 Firm. Firm means that the fruit is not soft...

  14. 7 CFR 51.643 - Fairly firm.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.643 Section 51.643 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing...) Definitions § 51.643 Fairly firm. Fairly firm means that the fruit may be slightly soft, but not bruised, and...

  15. Firm-Level Corruption in Vietnam

    DEFF Research Database (Denmark)

    Rand, John; Tarp, Finn

    This paper uses a unique panel dataset on firm-level corruption. It contains quantitative information on bribe payments by a sample of formal and informal Vietnamese firms. We show that bribe incidence is highly associated with firm-level differences in (i) visibility, (ii) sunk costs, (iii...

  16. FOOD ENTREPRENEUR SUSTAINABLE ORIENTATION AND FIRM PRACTICES

    OpenAIRE

    Mark A. Gagnon; Pamela A. Heinrichs

    2016-01-01

    This exploratory research examines the relationship between food entrepreneur sustainable orientation, mindset and firm sustainable practices in a mixed methods format. In particular we seek to address if entrepreneur behavior and firm practices are congruent with founding entrepreneur espoused support of sustainability. Our survey findings with thirty specialty food entrepreneurs suggest tenuous empirical support for the relationship of entrepreneur sustainable orientation, mindset and firm ...

  17. 48 CFR 1436.209 - Construction contracts with architect-engineer firms.

    Science.gov (United States)

    2010-10-01

    ... with architect-engineer firms. 1436.209 Section 1436.209 Federal Acquisition Regulations System DEPARTMENT OF THE INTERIOR SPECIAL CATEGORIES OF CONTRACTING CONSTRUCTION AND ARCHITECT-ENGINEER CONTRACTS Special Aspects of Contracting for Construction 1436.209 Construction contracts with architect-engineer...

  18. 48 CFR 436.209 - Construction contracts with architect-engineer firms.

    Science.gov (United States)

    2010-10-01

    ... with architect-engineer firms. 436.209 Section 436.209 Federal Acquisition Regulations System DEPARTMENT OF AGRICULTURE SPECIAL CATEGORIES OF CONTRACTING CONSTRUCTION AND ARCHITECT-ENGINEER CONTRACTS Special Aspects of Contracting for Construction 436.209 Construction contracts with architect-engineer...

  19. On the importance of forest assets for micro-firm performance

    Directory of Open Access Journals (Sweden)

    Katarina Haugen

    2013-08-01

    Full Text Available Business start-ups are on the increase, a development which is accompanied by hopes that these new firms will generate a potential for, e.g., local and regional development and a strengthening of local labour markets as well as the national economy. However, the long-term performance and viability of new firms are often rather poor. This research aims to analyse the importance of access to assets in the form of forest holdings for the performance of Swedish micro-firms. The analyses are based on official register data and fixed-effects panel regression modelling. A hypothesis is that a firm whose owner also possesses forest holdings is more viable thanks to the different resources (in the form of capital from logging or mortgaging, or non-pecuniary other values the forest holdings may provide, and which possibly contribute to the firm’s economic stability and resilience to economic fluctuations. From a general point of view, we find support for the hypothesis that forest assets positively and significantly influence firm performance in terms of earnings before interest and taxes (EBIT, but not in terms of value added. Access to forest assets is never detrimental to firm performance, although it does not have a significant positive effect in all sub-categories of entrepreneurs based on different combinations of age, gender and firm type. Particularly, the economic performance of private firms run by older men benefits from resources stemming from their forest holdings. No significant effects were found for female entrepreneurs or for limited companies. As regards regional variations, firms located outside the metropolitan regions – as compared to those at the top of the urban hierarchy – are likely to perform better, thus indicating that local development may benefit from resource transfers from the forest sector to micro-firms engaged in non-primary activities.

  20. A Health Economics Approach to US Value Assessment Frameworks-Summary and Recommendations of the ISPOR Special Task Force Report [7].

    Science.gov (United States)

    Garrison, Louis P; Neumann, Peter J; Willke, Richard J; Basu, Anirban; Danzon, Patricia M; Doshi, Jalpa A; Drummond, Michael F; Lakdawalla, Darius N; Pauly, Mark V; Phelps, Charles E; Ramsey, Scott D; Towse, Adrian; Weinstein, Milton C

    2018-02-01

    This summary section first lists key points from each of the six sections of the report, followed by six key recommendations. The Special Task Force chose to take a health economics approach to the question of whether a health plan should cover and reimburse a specific technology, beginning with the view that the conventional cost-per-quality-adjusted life-year metric has both strengths as a starting point and recognized limitations. This report calls for the development of a more comprehensive economic evaluation that could include novel elements of value (e.g., insurance value and equity) as part of either an "augmented" cost-effectiveness analysis or a multicriteria decision analysis. Given an aggregation of elements to a measure of value, consistent use of a cost-effectiveness threshold can help ensure the maximization of health gain and well-being for a given budget. These decisions can benefit from the use of deliberative processes. The six recommendations are to: 1) be explicit about decision context and perspective in value assessment frameworks; 2) base health plan coverage and reimbursement decisions on an evaluation of the incremental costs and benefits of health care technologies as is provided by cost-effectiveness analysis; 3) develop value thresholds to serve as one important input to help guide coverage and reimbursement decisions; 4) manage budget constraints and affordability on the basis of cost-effectiveness principles; 5) test and consider using structured deliberative processes for health plan coverage and reimbursement decisions; and 6) explore and test novel elements of benefit to improve value measures that reflect the perspectives of both plan members and patients. Copyright © 2018 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

  1. Trade Costs and Location of Foreign Firms in China

    OpenAIRE

    International Monetary Fund

    2005-01-01

    This study examines the determinants of entry into by foreign firms, using information on 515 Chinese industries at the provincial level during 1998-2001. The analysis, rooted in the new economic geography, focuses on market and supplier access within and outside the province of entry, as well as production and trade costs. The results indicate that market and supplier access are the most important factors affecting foreign entry. Access to markets and suppliers in the province of entry matte...

  2. The myth of the stay-at-home family firm : How family-managed SMEs can overcome their internationalization limitations

    NARCIS (Netherlands)

    Hennart, Jean-Francois; Majocchi, A.; Forlani, E.

    The prevalent view among family-firm internationalization scholars is that family management discourages internationalization. This is because selling abroad is said to require more specialized managers and more resources than selling at home, and yet family firms are unwilling to recruit non-family

  3. Human Capital and Wages in Exporting Firms

    DEFF Research Database (Denmark)

    Munch, Jakob Roland; Skaksen, Jan Rose

    This paper studies the link between a firms education level, export performance and wages of its workers. We argue that firms may escape intense competition in international markets by using high skilled workers to differentiate their products. This story is consistent with our empirical results....... Using a very rich matched worker-firm longitudinal dataset we find that firms with high export intensities pay higher wages. However, an interaction term between export intensity and skill intensity has a positive impact on wages and it absorbs the direct effect of the export intensity. That is, we find...... an export wage premium, but it accrues to workers in firms with high skill intensities...

  4. Performance of Patenting Firms in Danish Manufacturing

    DEFF Research Database (Denmark)

    Madsen, Erik Strøjer; Smith, Valdemar; Nielsen, Anders Østergaard

    2000-01-01

    Most countries focus on industries with high technology and the governments grant subsidies to innovating firms. However, there has been remarkable few studies of the performance of innovative firms or industries. This study examines the performance of patent active firms compared to the non-patenting...... firms within the manufacturing sector in Denmark. Performance is measured both by growth in employment as well as in the return on equity and profit share in turnover. The results suggest that differences in performance of patenting and non-patenting firms are very small, which questions the political...

  5. Political uncertainty and firm risk in China

    Directory of Open Access Journals (Sweden)

    Danglun Luo

    2017-12-01

    Full Text Available The political uncertainty surrounded by the turnover of government officials has a major impact on local economies and local firms. This paper investigates the relationship between the turnover of prefecture-city officials and the inherent risk faced by local firms in China. Using data from 1999 to 2012, we find that prefecture-city official turnovers significantly increased firm risk. Our results show that the political risk was mitigated when new prefecture-city officials were well connected with their provincial leaders. In addition, the impact of political uncertainty was more pronounced for regulated firms and firms residing in provinces with low market openness.

  6. Does Labor Diversity Affect Firm Performance?

    DEFF Research Database (Denmark)

    Pytlikova, Mariola; Pozzoli, Dario; Parrotta, Pierpaolo

    /education significantly enhances firm performance as measured by firm TFP. Conversely, diversity in demographics and ethnicity brings mixed results – both dimensions of workforce diversity have either no or negative effects on firm TFP. Hence, it seems as if the negative effects, coming from communication and integration...... costs connected to a more demographically and culturally diverse workforce, counteract the positive effects of diversity on firm TFP, coming from creativity and knowledge spillovers. However, we find that ethnic diversity is valuable for firms operating in industries characterized by above-average trade...... openness, giving support to the hypothesis that an ethnically diverse workforce provides information and access to global markets....

  7. Do Treasure Islands Create Firm Value?

    DEFF Research Database (Denmark)

    Lai, Tat-kei; Ng, Travis

    They do! Otherwise, their use would not have been so prevalent among firms. How much firm value they create, however, is still an open question. Exploiting a political event in the U.K. that suddenly raised the cost of using tax havens, we find that there was a 0.87% reduction in cumulative...... abnormal return (CAR) among the sampled firms, corresponding to about £532 million in market capitalization. The firms of stronger corporate governance registered a stronger reduction in CAR. A simple linear extrapolation suggests that the firm value contributed by tax havens can be as much as £31 billion....

  8. Toward an Integrative Theory of the Firm

    DEFF Research Database (Denmark)

    Li, Xin

    understand the nature and behaviors of the firm, we need a comprehensive yet integrative theory. Toward this end, this paper proposes a relationship-based theory of the firm (R’BT) which claims that it is the relationships between the entrepreneur and other individuals or firms that determine the existence......This paper argues that the existing four major theories of the firm, i.e., the transaction cost theory, resource-based view, the entrepreneurial theory, and the stakeholder theory, are all insightful yet partial because each of them has a particular focus on the phenomenon of the firm. To better...

  9. Women in Top Management and Firm Performance

    DEFF Research Database (Denmark)

    Smith, Nina; Smith, Valdemar; Verner, Mette

    -observations for all Danish firms with more than 50 employees over the period 1994-2003, the analysis suggests that the proportion of women in top management jobs has from none to positive influence on firm performance. However, the results show that the strength of the effects of women in top management depends...... on how top CEOs are defined and on the method of estimation of the model. Next, the results point towards a positive influence on firm performance of the staff representation in the supervisory board of the firm but more women representing the shareholders in the supervisory board of the firm seems...

  10. Knowledge acquisition and complementary specialization in alliances : The impact of technological overlap and alliance experience

    NARCIS (Netherlands)

    Kavusan, Korcan; Noorderhaven, Niels G.; Duysters, Geert M.

    2016-01-01

    While alliances are widely acknowledged to facilitate knowledge transfers across firms, alliances also allow partnering firms to combine technological capabilities toward joint innovation outcomes through complementary specialization. We examine how technological overlap and alliance experience -

  11. Motives and chances of firm diversification: theory and empirical evidence

    International Nuclear Information System (INIS)

    Briglauer, W.

    2001-11-01

    It is beyond controversy that the majority of the largest companies in the industrialized countries perform to a certain extent product diversification strategies. Tying up to this finding the underlying work firstly deals with alternative theoretical and empirical definitions of corporate diversification. Subsequently the theoretical part mainly elaborates an industrial economic framework for categorizing motives of firm diversification. Despite of some inevitable degree of arbitrariness, a relatively widespread and sufficient categorization can be presented. With regards to the relevant economic literature most explanations of product diversification can be classified appropriately. Observing diversification activities one would prima facie infer a positive relationship between product diversification and firm performance, but both, theory and empirical evidence, yield ambiguous results. The empirical part provides a list of existing studies, classified according to the theoretical categorization. In an overview some stylised facts are filtered and discussed consecutively. Most notably, it was found that related diversification strategies significantly outperform strategies of unrelated diversification. At the end of the empirical section econometric methods are applied to agricultural and industrial economic (relating to telecommunication markets) data sets. For the agricultural studies a significantly positive relationship between product diversification and firm performance was found. In contrast no significant results were obtained for the telecommunication markets. (author)

  12. Study on the Delimitation of the Urban Development Boundary in a Special Economic Zone: A Case Study of the Central Urban Area of Doumen in Zhuhai, China

    Directory of Open Access Journals (Sweden)

    Biao Zheng

    2018-03-01

    Full Text Available Since it implemented open-door policies, China has become the fastest growing economy in the world, and its urbanization level has steadily improved. Taking a special economic zone as the object of study, this paper delineates the urban development boundary of the Central Urban Area of Doumen. Using multiple models and methods, the urban development rigid and elastic boundaries are delineated separately, with the rigid boundary serving as the premise and foundation for delineating the elastic boundary. The results are as follows. First, the scale of the urban development rigid boundary is 79.60 km². Moreover, the scales of the urban development elastic boundaries in 2020 and 2026 are 24.51 km² and 28.53 km², respectively. Second, by delimiting the urban development elastic boundary, the compactness of urban land will be improved. Third, the urban development boundary of this paper is reasonable in theory. This paper suggests that the urban development boundary can curb urban sprawl and guide rational urban development, which is conducive to optimizing an urban spatial layout.

  13. Explaining 'Inertia' in R&D internationalisation: Norwegian firms and the role of home country-effects

    OpenAIRE

    Narula,Rajneesh

    2000-01-01

    We ask why firms from certain countries show a higher propensity to centralise their R&D activities athome than firms from other countries, using the example of Norway. We highlight that it is the interplaybetween the industrial structure and political and economic orientation of the home economy that plays animportant role in how firms engage in both home and overseas activities, including R&D. In general, nationalsystems of innovation (NSI) and industrial and technological specialisation of...

  14. Firm Innovation and the Ratchet Effect Among Consumer Packaged Goods Firms

    OpenAIRE

    Christine Moorman; Simone Wies; Natalie Mizik; Fredrika J. Spencer

    2012-01-01

    We consider how public firms influence their stock market valuations by timing the introduction of innovative new products. Our focus is on innovation ratchet strategy --firms timing the introduction of innovations in order to demonstrate an improvement in the number of introductions over time. We document that public firms use an innovation ratchet strategy more often than do private firms and that the stock market rewards public firms for doing so. These rewards from the stock market, howev...

  15. CAPITAL BUDGETING PRACTICES IN VIETNAM: A SURVEY OF CONSTRUCTION INVESTMENT FIRMS

    OpenAIRE

    Tran Tung, Linh

    2009-01-01

    The main intention of this research is to investigate how the Vietnamese firms evaluate the construction investment projects. The research is conducted by qualitative method by sending questionnaires to Vietnamese firms who specialize in construction investment field. Several questions are raised in the questionnaires which are categorized into four parts: evaluation techniques, risk analysis, discount rate and free cash flow forecasting. The distinction between Vietnamese capital budgeting w...

  16. The Location Dynamics of Firms in Transitional Shanghai, 1978-2005

    Directory of Open Access Journals (Sweden)

    Bo Qin

    2012-01-01

    Full Text Available China’s economic reform started in 1978 has brought in profound changes to firms by transforming the state-owned-enterprises and by encouraging the growth of the non-state sector business. These changes have been accompanied by broader institutional changes and economic restructuring in the cities, especially in the larger ones. This paper focuses on the changing spatial distribution patterns and the underlying location factors of firms in different sectors within Shanghai, one of China’s largest and most dynamic cities. The central research question is raised as do the rapidly changing spatial patterns of corporate activities within Shanghai since the onset of China's economic reform reflect the influence of market forces? Data were collected from Shanghai Administration of Industry and Commerce. Both GIS mapping and statistics (i.e. Moran’s Index, density gradient were used to assess the spatial distribution pattern of firms in Shanghai. An empirical model derived from neo-classical location theory is employed to examine the location factors of firms in different sectors. Findings of the paper indicate that the spatial distribution and location factors of firms in Shanghai demonstrate the city’s unique urban restructuring process, which is closely related to the city’s specific economic stage and unique “transitional” characteristics. However, market forces do play an increasingly import role in firm’s location-choice behavior in Shanghai. This study contributes to the understanding of firm location dynamics in post-socialist cities.

  17. Technology Licensing and Firm Innovation

    DEFF Research Database (Denmark)

    Moreira, Solon

    acquisition. The findings indicate that technology licensing is positively related to the number of inventions produced by the licensee in the years subsequent to the licensing deal. Subsequently, I investigate the moderating effect that organizational slack and myopia have on this main relationship....... The findings also suggest that high levels of Organizational Slack (available financial resources) strengthen the positive effect of licensing on innovation. However, higher levels of Organizational Myopia (the extent to which a firm draws on its own knowledge) can decrease the main effect of licensing....

  18. Knowledges, Specialisation and Economic Evolution

    DEFF Research Database (Denmark)

    Andersen, Esben Sloth

    2002-01-01

    The purpose of the paper is to integrate parts of the emerging modern literature on the division of labour and the division of knowledge as factors determining economic organisation and economic growth and development. The solution is a firm-based model of a pure labour economy with multiactivity...... production, fusions and fissions of firms, specialisation and exchange, markets for intermediate goods, and specialisation of R&D....

  19. Corporate Stability and Economic Growth

    OpenAIRE

    He, Kathy S.; Morck, Randall; Yeung, Bernard

    2003-01-01

    Greater instability in a country's list of top corporations is associated with faster economic growth. This faster growth is primarily due to faster growth in total factor productivity in industrialized countries, and faster capital accumulation in developing countries. These findings are consistent with the view that economic growth is more closely tied to the rise of new large firms than to the prosperity of established large firms. Although a stable list of leading corporations is highly c...

  20. 75 FR 11516 - Notice of Petitions by Firms for Determination of Eligibility to Apply for Trade Adjustment...

    Science.gov (United States)

    2010-03-11

    ... importantly to the total or partial separation of the firm's workers, or threat thereof, and to a decrease in.... performance pigments. Fluorolite Plastics, Inc....... 2 Central Street 3/1/2010 Fluorolite specializes in...

  1. The effects of staffing and training on firm productivity and profit growth before, during, and after the Great Recession.

    Science.gov (United States)

    Kim, Youngsang; Ployhart, Robert E

    2014-05-01

    This study integrates research from strategy, economics, and applied psychology to examine how organizations may leverage their human resources to enhance firm performance and competitive advantage. Staffing and training are key human resource management practices used to achieve firm performance through acquiring and developing human capital resources. However, little research has examined whether and why staffing and training influence firm-level financial performance (profit) growth under different environmental (economic) conditions. Using 359 firms with over 12 years of longitudinal firm-level profit data, we suggest that selective staffing and internal training directly and interactively influence firm profit growth through their effects on firm labor productivity, implying that staffing and training contribute to the generation of slack resources that help buffer and then recover from the effects of the Great Recession. Further, internal training that creates specific human capital resources is more beneficial for prerecession profitability, but staffing is more beneficial for postrecession recovery, apparently because staffing creates generic human capital resources that enable firm flexibility and adaptation. Thus, the theory and findings presented in this article have implications for the way staffing and training may be used strategically to weather economic uncertainty (recession effects). They also have important practical implications by demonstrating that firms that more effectively staff and train will outperform competitors throughout all pre- and postrecessionary periods, even after controlling for prior profitability. (c) 2014 APA, all rights reserved.

  2. Labour turnover and its effects on performance : an empirical test using firm data

    NARCIS (Netherlands)

    Glebbeek, A.C.; Bax, E.H.

    2002-01-01

    In this article we test the hypothesis that the relationship between labour turnover and the economic performance of the firm is bell-shaped: a turnover level too low has a negative effect and likewise does a level too high. Our analysis is based on economic performance data of 110 offices of a temp

  3. Founder Control, Ownership Structure and Firm Value: Evidence from Entrepreneurial Listed Firms in China

    Directory of Open Access Journals (Sweden)

    Lijun Xia

    2008-06-01

    Full Text Available In emerging markets, the deviation between the ultimate controlling shareholders' voting rights and their cash flow rights (hereafter “DVC” in the listed firms is quite prevalent. DVC could be introduced due to the ultimate controlling shareholders' opportunistic incentives, as well as by their incentives to improve firm efficiency. This study uses 229 listed firms ultimately controlled by individuals or families (hereafter “entrepreneurial firms” for 2004 in China, to investigate the effect of DVC on firm value and to determine whether it is different between founder and non-founder controlled firms. We find that DVC has a positive effect on firm value for founder controlled firms. This result implies that investors believe that their interests are better protected by founder controlled firms than by non-founder controlled firms.

  4. Towards a better understanding of the dynamics of value creation in R&D intensive small firms

    NARCIS (Netherlands)

    Casault, Sébastien; Groen, Aard J.; Linton, Jonathan D.

    2017-01-01

    Standard financial and economic theories suggest that the stock value of R&D intensive High Technology Small Firms (HTSF) undergo a geometric random walk. Such a model neglects to account for observed periods where firms experience large fluctuations due to uncertainty related to its R&D activities,

  5. Bank-firm credit network in Japan: an analysis of a bipartite network.

    Science.gov (United States)

    Marotta, Luca; Miccichè, Salvatore; Fujiwara, Yoshi; Iyetomi, Hiroshi; Aoyama, Hideaki; Gallegati, Mauro; Mantegna, Rosario N

    2015-01-01

    We investigate the networked nature of the Japanese credit market. Our investigation is performed with tools of network science. In our investigation we perform community detection with an algorithm which is identifying communities composed of both banks and firms. We show that the communities obtained by directly working on the bipartite network carry information about the networked nature of the Japanese credit market. Our analysis is performed for each calendar year during the time period from 1980 to 2011. To investigate the time evolution of the networked structure of the credit market we introduce a new statistical method to track the time evolution of detected communities. We then characterize the time evolution of communities by detecting for each time evolving set of communities the over-expression of attributes of firms and banks. Specifically, we consider as attributes the economic sector and the geographical location of firms and the type of banks. In our 32-year-long analysis we detect a persistence of the over-expression of attributes of communities of banks and firms together with a slow dynamic of changes from some specific attributes to new ones. Our empirical observations show that the credit market in Japan is a networked market where the type of banks, geographical location of firms and banks, and economic sector of the firm play a role in shaping the credit relationships between banks and firms.

  6. Bank-Firm Credit Network in Japan: An Analysis of a Bipartite Network

    Science.gov (United States)

    Marotta, Luca; Miccichè, Salvatore; Fujiwara, Yoshi; Iyetomi, Hiroshi; Aoyama, Hideaki; Gallegati, Mauro; Mantegna, Rosario N.

    2015-01-01

    We investigate the networked nature of the Japanese credit market. Our investigation is performed with tools of network science. In our investigation we perform community detection with an algorithm which is identifying communities composed of both banks and firms. We show that the communities obtained by directly working on the bipartite network carry information about the networked nature of the Japanese credit market. Our analysis is performed for each calendar year during the time period from 1980 to 2011. To investigate the time evolution of the networked structure of the credit market we introduce a new statistical method to track the time evolution of detected communities. We then characterize the time evolution of communities by detecting for each time evolving set of communities the over-expression of attributes of firms and banks. Specifically, we consider as attributes the economic sector and the geographical location of firms and the type of banks. In our 32-year-long analysis we detect a persistence of the over-expression of attributes of communities of banks and firms together with a slow dynamic of changes from some specific attributes to new ones. Our empirical observations show that the credit market in Japan is a networked market where the type of banks, geographical location of firms and banks, and economic sector of the firm play a role in shaping the credit relationships between banks and firms. PMID:25933413

  7. Do Specific Growth Drivers Exist for Firms? A Regional Analysis of Start-ups and Industrial Growth

    Directory of Open Access Journals (Sweden)

    PAUL I. OJEAGA

    2016-06-01

    Full Text Available The study of start-ups, have remained largely a micro economic issue. Firms are the key drivers of industrial sector GDP (or enterprise growth in countries across regions. Few studies have tried to examine the consequence of start-ups in the broad macroeconomics terms on enterprise growth in general with special emphasis on industrial sector output. This study provides a macroeconomic study of the effect of start- ups on industrial sector growth for countries in some specific geographical regions of the world. Panel data is utilized due to it obvious advantages such its ability to utilize a panel of short time frames and its suitability for controlling for omitted variable bias and unobservable heterogeneity across regions. The results show that start-ups remain an intrinsic variable for enterprise growth and industrial sector output discussion in general.

  8. How Firms Substitute for Authority in Strategic Decision-Making

    DEFF Research Database (Denmark)

    Dobrajska, Magdalena; Billinger, Stephan; Becker, Markus C.

    Strategic decisions are often made by multiple organizational members who form decision-making structures specialized for a given strategic decision. We study a series of strategic decisions in a business unit of a global Fortune 500 firm, identifying for each decision the hierarchical...... takes place in response to changes in decision characteristics, including decision complexity, decision importance, CEO proximity, and the degree to which a decision is routine. We show various manifestations of the substitution mechanism and discuss implications for strategic decision-making....... and departmental positions of all participating organizational members. We find that firms substitute between different structural components in decision-making structures to combine hierarchical authority with cross-departmental coordination and redundant knowledge. This substitution between structural components...

  9. The Importance of Geographical Proximity for New Product Development Activities within Inter-firm Linkages

    DEFF Research Database (Denmark)

    Dahlgren, Johan Henrich

    important as a resource and where collaboration partners are important. Hypotheses are tested by means of a quantitative analysis of a data set containing information about 4842 domestic and international inter-firm linkages of Danish firms in manufacturing industries. The findings in this analysis exhibit...... for international linkages. It is further suggested closer geographical distance for inter-firm linkages with medium and high level of interaction, suppliers or customers accounting for more than one third of total purchases or sales, and for linkages lasting for at least 10 years.Key words: capabilities, economics...

  10. Inherited Family Firms and Management Practices: The Case for Modernising the UK's Inheritance Tax

    OpenAIRE

    [multiple or corporate authorship].

    2006-01-01

    What role does hereditary family management play in the long-standing poor managerial performance of UK firms? We address this question using a new survey of the management practices of over 730 medium-sized manufacturing firms in France, Germany, the UK and the United States undertaken jointly by the Centre for Economic Performance and McKinsey & Company. • Analysis of the data reveals that firms that are family-owned but not managed by family members are typically well managed. An example i...

  11. Prevalence of intestinal parasites among workers involved in collection, transportation and recycling of wastes in the Pars Special Economic Energy Zone, Bushehr

    Directory of Open Access Journals (Sweden)

    MoradAli Fouladvand

    2014-01-01

    Full Text Available Abstract Background Intestinal parasitic infections are of one most important problems in developing countries and job is one of the most important factors determining the rate of intestinal parasitic infections. Persons who deal with waste elimination and recycling, due to close contact with infectious sources are more likely to be infected than others. Because of industrialization, population density and immigrants residing in Assaluyeh region , and due to the lack of history of a study for intestinal parasitic infection, the prevalence rate of intestinal parasitic infections among workers in the collection, transportation and recycling of wastes in the Pars Special Economic Energy Zone was evaluated. Material and methods: In a descriptive cross-sectional study, demographic questionaire was completed for each person, Stool samples were taken and sample containers were transferred to parasitology research laboratory of university. Samples were examined for intestinal parasites by preparing direct smear (wet mount and formalin-ether sedimentation technique. Data were collected by questionnaire and analyzed using SPSS 15.0 software and Chi square test. Results: The results showed that 37.3% of samples were infected at least with one intestinal parasite, 10.7% of samples were infected with more than one parasite. Giardia lamblia (6% and Entamoeba coli (13/4%, showed the highest infection rate among all parasite species. Prevalence rate of intestinal parasites in worker from Nakhl-e- Taghi municipality was higher than other region of the study area. Conclusion : Job type and duration of contact with infectious source play important roles in determining rate of intestinal parasitic infection. Workers involved in collection, transportation and recycling of wastes are more at risk of intestinal parasitic infections than others. Therfore, providing personal protective equipments and health education in this group can play an important role in community

  12. ESTIMATION OF THE KNOWLEDGE SPILLOVER EFFECTS BETWEEN FIRMS IN BIO-RELATED INDUSTRIES

    OpenAIRE

    Kim, Hanho; Kim, Jae-Kyung

    2005-01-01

    Knowledge spillover is a kind of externality originating from imperfect appropriation of R&D performances, which implies that the knowledge created by one agent could be transmitted to other related agents by affecting their R&D or other economic performances. For the estimation of knowledge spillover effects based on firm-level patent data between firms in bio-related industries, patents production function, as a proxy of knowledge production function, is formulated and estimated. Knowledge ...

  13. On Transfer Pricing: Conceptual Thoughts on the Nature of the Multinational Firm

    OpenAIRE

    Brem Markus; Tucha Thomas

    2005-01-01

    This paper deploys Transaction Cost Economics (TCE) to elaborate on the shortcomings of “mainstream” transfer pricing in multinational firms. Departing from the notion that multinationals increasingly (re-)organize their business along multinational value chains irrespective of jurisdictional borders, the paper discusses the nature of the multinational firm and the problem of choosing the right intra-group (transfer) price. The mainstream transfer pricing approach derived from the Arm´s Lengt...

  14. Investment, Financing Constraints, and Internal Capital Markets: Evidence from the Advertising Expenditures of Multinational Firms

    OpenAIRE

    C. Edward Fee; Charles J. Hadlock; Joshua R. Pierce

    2009-01-01

    We find a significant positive relation between a firm's advertising spending in the United States and its contemporaneous foreign cash flow. This relation holds even after controlling for factors that should be related to the optimal level of domestic advertising, and it is stronger for subsets of firms that we expect to be relatively more financially constrained. Our evidence supports the hypothesis that there is a causal and economically substantial link between cash flow and investment sp...

  15. The Internationalisation of Mainland Chinese Firms into Malaysia: From Obligated Embeddedness to Active Embeddedness

    OpenAIRE

    Guanie Lim

    2014-01-01

    "This paper examines the rationale by which mainland Chinese firms choose their coalition partners in their Malaysian ventures. I explore how, under certain political economic conditions, such cross-border investment and corporate tie-ups can be shaped to meet the Malaysian state's objectives. I argue that the Malaysian state has enjoyed success in the construction sector by nurturing cooperation between its carefully groomed government-linked companies and mainland Chinese firms. Government-...

  16. [Micro-simulation of firms' heterogeneity on pollution intensity and regional characteristics].

    Science.gov (United States)

    Zhao, Nan; Liu, Yi; Chen, Ji-Ning

    2009-11-01

    In the same industrial sector, heterogeneity of pollution intensity exists among firms. There are some errors if using sector's average pollution intensity, which are calculated by limited number of firms in environmental statistic database to represent the sector's regional economic-environmental status. Based on the production function which includes environmental depletion as input, a micro-simulation model on firms' operational decision making is proposed. Then the heterogeneity of firms' pollution intensity can be mechanically described. Taking the mechanical manufacturing sector in Deyang city, 2005 as the case, the model's parameters were estimated. And the actual COD emission intensities of environmental statistic firms can be properly matched by the simulation. The model's results also show that the regional average COD emission intensity calculated by the environmental statistic firms (0.002 6 t per 10 000 yuan fixed asset, 0.001 5 t per 10 000 yuan production value) is lower than the regional average intensity calculated by all the firms in the region (0.003 0 t per 10 000 yuan fixed asset, 0.002 3 t per 10 000 yuan production value). The difference among average intensities in the six counties is significant as well. These regional characteristics of pollution intensity attribute to the sector's inner-structure (firms' scale distribution, technology distribution) and its spatial deviation.

  17. Human Capital and Wages in Exporting Firms

    DEFF Research Database (Denmark)

    Munch, Jakob Roland; Skaksen, Jan Rose

    2006-01-01

    This paper studies the link between a firms education level, export performance and wages of its workers. We argue that firms may escape intence competition in international markets by using high skilled workers to differentiate their products. This story is consistent with our empirical results....... Osing a very rich matched worker-firm longitudinal dataset we find that firms with high export intensities pay higher wages. However, an interaction term between export intensity and skill intensity has a positive impact on wages and it absorbs the direct effect of the export intensity. That is, we find...... an export wage premium, but it accrues to workers in firms with high skill intensities.Keywords: Exports, Wages, Human Capital, Rent Sharing, Matched Worker-Firm DataJEL Classification: J30, F10, I20...

  18. Foreign Exchange Exposures of Korean Firms

    Directory of Open Access Journals (Sweden)

    Sungbin Cho

    2011-03-01

    Full Text Available We measure foreign exchange exposures as sensitivity of firm's value to FX premium in the CAPM plus FX premium model, and try to find determinants of the exposures; using data of non-financial companies listed in the Korea Exchange from the year 2007 to 2008. Main findings are as follows. If Korean won depreciates, only a small number of firms is benefitted while majority of firms are harmed to the contrary of common knowledge. As a firm's export increases, the foreign exchange exposure increases up to a certain level and after that it declines. And, smaller firms of negative foreign exchange exposures are more sensitive to foreign exchange changes. These suggest heterogeneous effects of foreign exchange rates on industries and firms.

  19. Endogenous Markups, Firm Productivity and International Trade:

    DEFF Research Database (Denmark)

    Bellone, Flora; Musso, Patrick; Nesta, Lionel

    ) markups are positively related to firm productivity; 3) markups are negatively related to import penetration; 4) markups are positively related to firm export intensity and markups are higher on the export market than on the domestic ones in the presence of trade barriers and/or if competitors...... on the export market are less efficient than competitors on the domestic market. We estimate micro-level price cost margins (PCMs) using firm-level data extending the techniques developed by Hall (1986, 1988) and extended by Domowitz et al. (1988) and Roeger (1995) for the French manufacturing industry from......In this paper, we test key micro-level theoretical predictions ofMelitz and Ottaviano (MO) (2008), a model of international trade with heterogenous firms and endogenous mark-ups. At the firm-level, the MO model predicts that: 1) firm markups are negatively related to domestic market size; 2...

  20. Decomposing Firm-level Sales Variation

    DEFF Research Database (Denmark)

    Munch, Jakob Roland; Nguyen, Daniel Xuyen

    , and that for the median product it drives 31% of the sales variation. When we remove first-time exports from our sample, the median value increases to 40%, implying that firm-destination-specific effects are most important the first year. We conclude that while firm-specific productivity can account for some......We measure the contribution of firm-specific effects to overall sales variation within a destination and find it remarkably low. Our empirical decomposition is structurally motivated by a heterogeneity model of exporting involving destination-specific, firm-specific, and firm......-destination-specific latent effects with incidental truncation. We use a highly detailed dataset with exports by products and destinations for all Danish manufacturing fi…rms. We fi…nd the contribution of firm-specific heterogeneity to within-destination sales variation varies greatly across HS6 products...

  1. Agility in a small software firm

    DEFF Research Database (Denmark)

    Schmidt, Thomas; Mathiassen, Lars

    2009-01-01

    Small software firms are vulnerable to environmental uncertainty. While agile methods and other technologies offer suggestions to this challenge, we know little about how these firms combine project and firm level capabilities to effectively respond to changes. On this backdrop, we examine a small...... Danish software firm, TeachTech Inc., through the lens of Haeckel's sense-and-respond approach. Our analysis suggests that: the firm has appropriate sense-and-respond cycles, but improving process modularity and human resource flexibility, could increase its ability to respond faster and more effectively......; the firm focuses on specific business goals, but these are not clearly explicated and expressed as empowering governing values enabling a quick and coordinated response; complex and demanding challenges are related to dynamically reassigning commitments and the supporting mechanisms are insufficient...

  2. Environmental management and firm performance: a case study.

    Science.gov (United States)

    Claver, Enrique; López, María D; Molina, José F; Tarí, Juan J

    2007-09-01

    This study has as its aim to help to clarify the relationship between environmental management and economic performance by integrating it into a wider framework that includes the relationship between environmental strategy and firm performance, the latter being understood as the combination of environmental performance, competitive advantage and economic performance. A case study of the COATO farming cooperative showed us that its environmental management, focused on prevention logic, has had a positive net effect on its environmental performance. Besides, the order in which these practices were adopted favoured the development of new organisational capabilities that have contributed to the appearance of advantages derived from the greater accumulated experience of employees in creating new projects that are designed to reduce residues and pollution. COATO has also obtained a competitive advantage in differentiation thanks to an improved brand image and to its increased credibility in business relationships. Finally, a positive correlation exists between the pioneering proactive strategy adopted by this cooperative and the improvement of its firm performance with respect to the other firms in its sector.

  3. Corporate Cash Holdings and Adjustment Behaviour in Chinese Firms: An Empirical Analysis Using Generalized Method of Moments

    Directory of Open Access Journals (Sweden)

    Ajid ur Rehman

    2016-05-01

    Full Text Available This study is intended to find out the motives of cash holding in Chinese firms and theories associated with these motives. The study is unique because it not only estimates the adjustment speed of corporate cash holdings but also discuss several firm specific factors that affects cash holdings in Chinese firms with special reference to Chinese SOEs and NSOEs. An extensive set of panel data comprising 1632 A listed Chines firms, over a period from 2001 to 2013 are taken for analysis. The study reports a lower adjustment coefficient for Chinese firms compared to other developed nations. The study finds that target level of cash holdings in Chinese firms is better explained by Trade off and Pecking order theories. To cope with issues of endogeneity and serial correlation the study apply GMM and random effects model with an added AR (autoregressive term.

  4. Working Capital Management and Firm Listing Status

    OpenAIRE

    Seraina Anagnostopoulou

    2012-01-01

    This study comparatively examines the determinants of working capital management for listed vs. unlisted firms, and assesses the impact of this policy on profitability by focusing on the cash conversion cycle, a commonly used measure of working capital management. By using a large UK public and private firm sample, it is found that private firms have significantly lower cash conversion cycles than their public counterparts, and that traditional determinants of the cycle significantly differ b...

  5. The Firm as a Competent Team

    OpenAIRE

    Eliasson, Gunnar

    1988-01-01

    Results from empirical studies of firm behavior are synthesized into, a theory of the firm as a competent team. I demonstrate the existence of a tacit organizational competence exercising a leverage on the productivities of all other factors through selecting and allocating competent people, thus earning a monopoly rent in the capital market. The competence identified can only be fairly compensated through sharing in firm value growth in the equity market, exhibiting undervaluation of prime a...

  6. Do Firms Go Public to Raise Capital?

    OpenAIRE

    Woojin Kim; Michael Weisbach

    2005-01-01

    This paper considers the question of whether raising capital is an important reason why firms go public. Using a sample of 16,958 initial public offerings from 38 countries between 1990 and 2003, we consider differences between firms that sell new, primary shares to the public, and existing secondary shares that previously belonged to insiders. Our results suggest that the sale of primary shares is correlated with a number of factors associated with the firm's demand for capital. In particula...

  7. Agglomeration Premium and Trading Activity of Firms

    OpenAIRE

    Gabor Bekes; Peter Harasztosi

    2010-01-01

    Firms may benefit from proximity to each other due to the existence of several externalities. The productivity premia of firms located in agglomerated regions an be attributed to savings and gains from external economies. However, the capacity to absorb information may depend on activities of the firm, such as involvement in international trade. Importers, exporters and two-way traders are likely to employ a different bundle of resources and be organised differently so that they would appreci...

  8. Technological Innovation Capabilities and Firm Performance

    OpenAIRE

    Richard C.M. Yam; William Lo; Esther P.Y. Tang; Antonio; K.W. Lau

    2010-01-01

    Technological innovation capability (TIC) is defined as a comprehensive set of characteristics of a firm that facilities and supports its technological innovation strategies. An audit to evaluate the TICs of a firm may trigger improvement in its future practices. Such an audit can be used by the firm for self assessment or third-party independent assessment to identify problems of its capability status. This paper attempts to develop such an auditing framework that can...

  9. Leverage, monetary policy, and firm investment

    OpenAIRE

    Charles X. Hu

    1999-01-01

    In this paper, I investigate whether the effects of monetary policy on firm investment can be transmitted through leverage. I find that monetary contractions reduce the growth of investment more for highly leveraged firms than for less leveraged firms. The results suggest that the board credit channel for monetary policy exists, and that it can operate through leverage, as adverse monetary shocks aggravate real debt burdens and raise the effective costs of investment.

  10. How does firm performance influence market orientation?

    DEFF Research Database (Denmark)

    Sørensen, Hans Eibe; Stieglitz, Nils

    This paper contributes by investigating how firm performance influences its market orientation. We draw on the aspiration-level model from the behavioral theory of the firm to develop testable propositions that substantiate and extend prior market orientation research. Specifically, we address how...... performance influences firms' market-oriented search behavior (responsive or proactive) and the allocation of attention (customer and competitor orientation) as well as the formation of aspiration levels. Research and managerial implications are discussed....

  11. Firm Size Distribution in Fortune Global 500

    Science.gov (United States)

    Chen, Qinghua; Chen, Liujun; Liu, Kai

    By analyzing the data of Fortune Global 500 firms from 1996 to 2008, we found that their ranks and revenues always obey the same distribution, which implies that worldwide firm structure has been stable for a long time. The fitting results show that simple Zipf distribution is not an ideal model for global firms, while SCL, FSS have better fitting goodness, and lognormal fitting is the best. And then, we proposed a simple explanation.

  12. Does Labour Diversity affect Firm Productivity?

    DEFF Research Database (Denmark)

    Parrotta, Pierpaolo; Pozzoli, Dario; Pytlikova, Mariola

    Using a matched employer-employee dataset, we analyze how workforce diversity in cultural background, education and demographic characteristics affects productivity of firms in Denmark. Implementing a structural estimation of the firms' production function (Ackerberg et al., 2006) we find...... diverse workforce, seem to outweigh the positive effects coming from creativity and knowledge spillovers....... that labor diversity in education significantly enhances a firm's value added. Conversely, diversity in ethnicity and demographics induces negative effects on firm productivity. Hence, the negative effects, coming from communication and integration costs connected to a more culturally and demographically...

  13. Shared vision promotes family firm performance.

    Science.gov (United States)

    Neff, John E

    2015-01-01

    A clear picture of the influential drivers of private family firm performance has proven to be an elusive target. The unique characteristics of private family owned firms necessitate a broader, non-financial approach to reveal firm performance drivers. This research study sought to specify and evaluate the themes that distinguish successful family firms from less successful family firms. In addition, this study explored the possibility that these themes collectively form an effective organizational culture that improves longer-term firm performance. At an organizational level of analysis, research findings identified four significant variables: Shared Vision (PNS), Role Clarity (RCL), Confidence in Management (CON), and Professional Networking (OLN) that positively impacted family firm financial performance. Shared Vision exhibited the strongest positive influence among the significant factors. In addition, Family Functionality (APGAR), the functional integrity of the family itself, exhibited a significant supporting role. Taken together, the variables collectively represent an effective family business culture (EFBC) that positively impacted the long-term financial sustainability of family owned firms. The index of effective family business culture also exhibited potential as a predictive non-financial model of family firm performance.

  14. Shared Vision promotes family firm performance

    Directory of Open Access Journals (Sweden)

    John Edward Neff

    2015-05-01

    Full Text Available A clear picture of the influential drivers of private family firm performance has proven to be an elusive target. The unique characteristics of private family owned firms necessitate a broader, non-financial approach to reveal firm performance drivers. This research study sought to specify and evaluate the themes that distinguish successful family firms from less successful family firms. In addition, this study explored the possibility that these themes collectively form an effective organizational culture that improves longer-term firm performance. At an organizational level of analysis, research findings identified four significant variables: Shared Vision (PNS, Role Clarity (RCL, Confidence in Management (CON, and Professional Networking (OLN that positively impacted family firm financial performance. Shared Vision exhibited the strongest positive influence among the significant factors. In addition, Family Functionality (APGAR, the functional integrity of the family itself exhibited a significant supporting role. Taken together, the variables collectively represent an effective family business culture (EFBC that positively impacted the long-term financial sustainability of family owned firms. The index of effective family business culture also exhibited potential as a predictive non-financial model of family firm performance.

  15. International working capital practices of Ghanaian firms

    Directory of Open Access Journals (Sweden)

    J. Abor

    2005-12-01

    Full Text Available International working capital management is important to firms frequently operating in the international market. This article investigates the international working capital practices of top Ghanaian firms involved in international trade. The objective of the study is to ascertain the extent to which Ghanaian firms use international working capital management vehicles. The article focuses on two main areas of international working capital management; international cash management and international sales and accounts receivables management. The results of this study reveal low level of use of international working capital vehicles among Ghanaian firms. Recommendations are made in this regard.

  16. Commercialization of Innovations and Firm Performance

    DEFF Research Database (Denmark)

    Madsen, Erik Strøjer; Smith, Valdemar

    The decision on investment in R&D is very important and highly risky for firms' performance and survival in their business. This paper focuses on the commercialization of firms' investment in innovation and how these decisions affect their performance. The study uses a large innovation survey...... of Danish firms holding information on their R&D investment as well as their expenses on marketing which gives knowledge of the commercialization of their innovations. The results suggest a highly significant commercialization of innovation, which means that firms' follows a strategy of investment both...

  17. Industrial environmental practices in Polish Firms

    DEFF Research Database (Denmark)

    Kræmer, Trine Pipi

    , and environment. The five case firms all had a Communist past. The firms represent three different industrial sectors; i.e. textile, energy, and publishing and printing industries. Furthermore, the firms are both private and state owned as well as in the process of privatisation.......The study investigates how discursive developments in Poland interact with industrial environmental practices in five production firms. The analysis of the discursive development covers the period from the end of World War I to the turn of the century. The areas in focus are identity, industry...

  18. Decentralized electricity generation from renewable sources as a chance for local economic development. A qualitative study of two pioneer regions in Germany

    Energy Technology Data Exchange (ETDEWEB)

    Klagge, Britta; Brocke, Tobias [Osnabrueck Univ. (Germany). Inst. of Geography

    2012-12-15

    Empirical research on the local economic effects associated with decentralized electricity generation from renewable sources has only just started. So far, most studies focus on quantifying economic effects and neglect the conditions and constellations which support and enable local economic development based on decentralized electricity generation. This, however, is the focus of this paper which looks at these issues, employing the value chain concept in combination with a governance perspective. Empirically, we take a qualitative approach and analyze two case studies of pioneer regions, in which decentralized electricity generation from renewable sources has developed very dynamically. The case study regions are Soltau, with a special focus on biogas production, and Emden, where wind energy plays a special role. Based on the early activities of some pioneers, these regions have developed specific actor constellations and organizational structures and have entered development paths in which renewable energies became an important economic factor. The analysis highlights the importance of institutional context and supportive governance structures for an early advancement of decentralized electricity generation from renewable sources, with a key role of local actors and governance constellations. It also points to the importance of cooperative relationships among local business actors for creating a competitive advantage for (some) regional firms. Our analysis shows that with the geographical proliferation of electricity generation from renewable sources, specialized firms tend to reach beyond their regions, thus offering first-mover advantages for firms in pioneer regions in comparison with latecomers.

  19. Real Time Pricing and the Real Live Firm

    Energy Technology Data Exchange (ETDEWEB)

    Moezzi, Mithra; Goldman, Charles; Sezgen, Osman; Bharvirkar, Ranjit; Hopper, Nicole

    2004-05-26

    Energy economists have long argued the benefits of real time pricing (RTP) of electricity. Their basis for modeling customers response to short-term fluctuations in electricity prices are based on theories of rational firm behavior, where management strives to minimize operating costs and optimize profit, and labor, capital and energy are potential substitutes in the firm's production function. How well do private firms and public sector institutions operating conditions, knowledge structures, decision-making practices, and external relationships comport with these assumptions and how might this impact price response? We discuss these issues on the basis of interviews with 29 large (over 2 MW) industrial, commercial, and institutional customers in the Niagara Mohawk Power Corporation service territory that have faced day-ahead electricity market prices since 1998. We look at stories interviewees told about why and how they respond to RTP, why some customers report that they can't, and why even if they can, they don't. Some firms respond as theorized, and we describe their load curtailment strategies. About half of our interviewees reported that they were unable to either shift or forego electricity consumption even when prices are high ($0.50/kWh). Reasons customers gave for why they weren't price-responsive include implicit value placed on reliability, pricing structures, lack of flexibility in adjusting production inputs, just-in-time practices, perceived barriers to onsite generation, and insufficient time. We draw these observations into a framework that could help refine economic theory of dynamic pricing by providing real-world descriptions of how firms behave and why.

  20. Asset stripping and firm survival in mass privatization: testing the Hoff-Stiglitz and Campos-Giovannoni models in Montenegro

    Czech Academy of Sciences Publication Activity Database

    Koman, M.; Lakićević, M.; Prašnikar, J.; Švejnar, Jan

    2015-01-01

    Roč. 43, č. 2 (2015), s. 274-289 ISSN 0147-5967 Institutional support: PRVOUK-P23 Keywords : asset stripping * mass privatization * firm survival Subject RIV: AH - Economics Impact factor: 1.380, year: 2015

  1. Enhancing technological innovation in small firms: Role of collaboration

    International Nuclear Information System (INIS)

    Singh, D; Khamba, J S; Nanda, T

    2014-01-01

    Contribution of Micro-Small and Medium Enterprises (MSMEs) is highly remarkable in the overall industrial economy of the country. In recent years, the MSME sector has consistently registered higher growth rate compared to the overall industrial sector. With its agility and dynamism, the sector has shown admirable innovativeness and adaptability to survive the recent economic downturn and recession. However, MSMEs growth rate is still at low level. Therefore, it becomes essential for organizations to adopt new technologies or upgrade existing setup to meet continuously changing global market and fulfill customer needs. This paper explores the relationships between different collaboration networks and technological innovation of small firms through an extensive review of literature. The study finds that collaboration with larger enterprises, R and D institutions, universities and government agencies play a significant role in enhancing technological innovation in small firms

  2. Listing Specialization and Residential Real Estate Licensee

    OpenAIRE

    Leonard V. Zumpano; Ken Johnson; Randy I. Anderson

    2007-01-01

    Earlier research has found that specialization by real estate agents creates economies of scope for real estate firms. So far, however, no research has addressed this issue at the agent level. The question this research seeks to answer is whether specialization in one side of the real estate transaction increases agent income. The most important finding is that specialization has an asymmetric impact on earnings. Specializing in listings positively enhances agent income. In contrast, speciali...

  3. Estimating risk propagation between interacting firms on inter-firm complex network.

    Science.gov (United States)

    Goto, Hayato; Takayasu, Hideki; Takayasu, Misako

    2017-01-01

    We derive a stochastic function of risk propagation empirically from comprehensive data of chain-reaction bankruptcy events in Japan from 2006 to 2015 over 5,000 pairs of firms. The probability is formulated by firm interaction between the pair of firms; it is proportional to the product of α-th power of the size of the first bankrupt firm and β-th power of that of the chain-reaction bankrupt firm. We confirm that α is positive and β is negative throughout the observing period, meaning that the probability of cascading failure is higher between a larger first bankrupt firm and smaller trading firm. We additionally introduce a numerical model simulating the whole ecosystem of firms and show that the interaction kernel is a key factor to express complexities of spreading bankruptcy risks on real ecosystems.

  4. ARE SMALL-FIRM CLUSTERS EMERGENT PHENOMENA? EVIDENCE FROM ZIMBABWE’S SMALL FURNITURE- MANUFACTURING FIRMS

    Directory of Open Access Journals (Sweden)

    Godfrey MUPONDA

    2014-07-01

    Full Text Available The purpose of this study was to explore the reasons behind the rapid growth and apparent dynamism of Zimbabwe’s small-firm industrial clusters. The hypothesis behind the study was that these small-firm clusters are emergent phenomena. The study analysed the capital utilisation techniques of small firms located in a large industrial cluster in order to determine the factors that lead to the collective efficiency of such firms. The study found that, in comparison with large, stock exchange-listed firms, the cluster environment enables the small firm to operate from a relatively small capital base and also to use its capital more efficiently in creating revenues and profits. The individual firm does not have to invest its capital in a large assets base as this is done by a specialised group of firms within the cluster. Thus, the cluster has the characteristics of an emergent phenomenon.

  5. Estimating risk propagation between interacting firms on inter-firm complex network.

    Directory of Open Access Journals (Sweden)

    Hayato Goto

    Full Text Available We derive a stochastic function of risk propagation empirically from comprehensive data of chain-reaction bankruptcy events in Japan from 2006 to 2015 over 5,000 pairs of firms. The probability is formulated by firm interaction between the pair of firms; it is proportional to the product of α-th power of the size of the first bankrupt firm and β-th power of that of the chain-reaction bankrupt firm. We confirm that α is positive and β is negative throughout the observing period, meaning that the probability of cascading failure is higher between a larger first bankrupt firm and smaller trading firm. We additionally introduce a numerical model simulating the whole ecosystem of firms and show that the interaction kernel is a key factor to express complexities of spreading bankruptcy risks on real ecosystems.

  6. THE ROLE OF THE SUSTAINABILITY REPORT IN CAPITALISTIC FIRM

    Directory of Open Access Journals (Sweden)

    Gazzola Patrizia

    2011-12-01

    Full Text Available The aim and the central topic of this research is the understanding of the importance of Sustainable growth strategy approach as a driver to achieving top-line growth and bottom-line results. The main contributions of this line of research are to demonstrate the idea that the sustainability report is an instrument for social interaction and social cost/benefit analysis and to show that such an instrument can describe, comment on and sum up the firm's own behaviour aimed at sustainable growth. The work integrates the CSR management literature with a large body of research in accounting and finance. This study draws from theoretical research about the nature of the corporation, its role in society and contributions by recent research on corporate social, environmental, ethical responsibility and accountability. Our research demonstrates that the economic existence of the capitalistic firm as a producer of economic and financial values must be appreciated, in terms of the sustainability of the development path of the firm, and evaluated by a wide range of social performance measures of outcome or benefit. It also shows how the Sustainability report emphasizes the link between firm and territory, and affirms the concept of the firm as an entity that, by pursuing its own prevailing interests, contributes to improving the quality of life of the members of the society in which it operates. This paper contributes primarily to the academic debate by reviewing past attempts to theorise CSR and stakeholder dialogue, identifying gaps and weaknesses, and proposing the Sustainable Growth implementation processes for the creation of value. It also highlights the relationship between CSR activity and corporate image and performance. The research shed light on aspects of CSR activity for which little is known and much less is being understood; namely, the channels and the mechanisms through which the CSR impact is perceived and realized for creation of value

  7. Deferred tax analysis and impact on firm's economic efficiency ratios

    Directory of Open Access Journals (Sweden)

    Hana Bohušová

    2005-01-01

    Full Text Available Category of deferred income tax is a complex topic including the whole accounting system and the income tax. Calculation method can be time-consuming and demanding a high quality system of analytical evidence and a system of valuation and demanding the high level of accountants' knowledge. The aim in the theoretical level was to analyze process of calculation and recording of deferred tax. Importance of recording of deferred tax and the impact on financial analysis ratios was analyzed. Fourteen business entities were examined. Deferred tax recording is a legal way to reduce retained earnings a to protect of its careless alocation.

  8. Managers, Firms and (Secret) Social Networks : The Economics of Freemasonry

    NARCIS (Netherlands)

    Braggion, F.

    2008-01-01

    This paper studies the relationships between managers’ a¢ liations with Freema- sonry and companies' performance. Using a unique data set of 410 companies quoted on the London Stock Exchange between 1895 and 1902, I find that Masonic managers were associated with greater access to credit in small

  9. A firm-specific exposure analyis of the exchange-rate exposure of Dutch firms

    NARCIS (Netherlands)

    de Jong, A.; Ligterink, J.; Macrae, V.

    2006-01-01

    We examine the relationship between exchange-rate changes and stock returns for a sample of Dutch firms over 1994-1998. We find that over 50 per cent of the firms are significantly exposed to exchange-rate risk. Furthermore, all firms with significant exchange-rate exposure benefit from a

  10. Do Private Firms Outperform SOE Firms after Going Public in China Given their Different Governance Characteristics?

    Directory of Open Access Journals (Sweden)

    Shenghui Tong

    2013-06-01

    Full Text Available This study examines the characteristics of board structure that affect Chinese public firm’s financial performance. Using a sample of 871 firms with 699 observations of previously private firms and 1,914 observations of previously state-owned enterprise (SOE firms, we investigate the differences in corporate governance between publicly listed firms that used to be pure private firms before going public and listed firms that used to be SOEs before their initial public offerings (IPOs. Our main finding is that previously private firms outperform previously SOE firms in China after IPOs. In the wake of becoming listed firms, previously SOE firms might be faced with difficulties adjusting to professional business practices to build and extend competitive advantages. In addition, favorable policies and assistance from the government to the SOE firms might have triggered complacency, especially in early years after getting listed. On the other hand, professional savvy and acumen, combined with efficiency and favorable business climate created by the government have probably led the previously private firms to improve their values stronger and faster.

  11. A Firm-Specific Analysis of the Exchange-Rate Exposure of Dutch Firms

    NARCIS (Netherlands)

    A. de Jong (Abe); J. Ligterink; V. Macrae

    2002-01-01

    textabstractWe examine the relationship between exchange-rate changes and stock returns for a sample of Dutch firms over 1994-1998. We find that over 50% of the firms are significantly exposed to exchange-rate risk. Furthermore, all firms with significant exchange-rate exposure benefit from a

  12. Impact of Banking Information Systems Security on Banking in China: The Case of Large State-Owned Banks in Shenzhen Economic Special Zone — An Introduction

    OpenAIRE

    Keith L. Hood; Jie-Wen Yang

    1998-01-01

    This paper focuses on information security in Chinese Banking Information Systems (BIS), which can only be understood in the context of the wider reforms of the Chinese banking sector. A small pilot study of banking in Shenzhen was carried out. Shenzhen, in southern China, is one of the Economic Special Zones and may be considered as being at the leading edge of development in banking and a pointer towards future developments of banking in China. Information security was found to be inadequat...

  13. The Impact of Restaurants’ Green Supply Chain Practices on Firm Performance

    Directory of Open Access Journals (Sweden)

    Jun-Zhi Chiu

    2016-01-01

    Full Text Available This study investigated crucial green supply chain management (GSCM practice dimensions and firm performance based on restaurants firms in Taiwan. On the basis of a factor analysis, four green supply chain management dimensions were identified: corporate environment policy, green packing, green product, and economic transport. This study investigated crucial GSCM practice dimensions (including corporate environment policy, packaging waste, economic transport, and product recycling, green capability and organizational performance. The results shown: first, green practices in restaurants in Taiwan have an indirect effect on firm performance through green capability; second, when the ability of suppliers of green and green capability is at a higher degree, it will contribute to organizational performance, namely environmental and economic performance. Finally, green practices could be a key driver of green capability and it should be a priority in restaurants.

  14. A Scorecard Framework Proposal for Improving Software Factories’ Sustainability: A Case Study of a Spanish Firm in the Financial Sector

    Directory of Open Access Journals (Sweden)

    César Álvarez

    2015-12-01

    Full Text Available Financial institutions and especially banks have always been at the forefront of innovation in management policies in order to improve their performance, and banking is probably one of the sectors that more effectively measures productivity and efficiency in virtually all aspects of its business. However, there is one area that still fails: the productivity of its software development projects. For years banking institutions have chosen to outsource their software projects using software firms created by them for this purpose, but up until a few years ago, the deadline for the delivery of the projects was more important than the efficiency with which they were developed. The last economic crisis has forced financial institutions to review and improve the software development efficiency related to their software factories to achieve a sustainable and feasible model. The sustainability of these software factories can be achieved by improving their strategic management, and the Balanced Scorecard (BSC framework can be very useful in order to obtain this. Based on the concepts and practices of the BSC, this paper proposes a specific model to establish this kind of software factory as a way of improving their sustainability and applies it to a large Spanish firm specializing in financial sector software. We have included a preliminary validation plan as well as the first monitoring results. The adoption is still very recent and more data are needed to measure all the perspectives so no definitive conclusions can be drawn.

  15. CLUSTERING AND THE NATURE OF RELATIONSHIP AMONGST FIRMS IN THE LAGOS REGION, NIGERIA

    Directory of Open Access Journals (Sweden)

    FAGBOHUNKA Adejompo

    2015-06-01

    Full Text Available Regional cluster, a geographically bounded concentration of interdependent firms, is the best environment to fostering a strong relationship amongst firms which can lead to amazing technological and industrial expansion. This paper underscores clustering and the resultant nature of relationship amongst firms, using the Lagos region as a case study. One hundred and three questionnaire were administered in twelve industrial estates; one questionnaire in each of the firm. This connotes that all the firms in the industrial estates were successfully covered in the questionnaire administration, which was administered. A descriptive statistical analytical technique was adopted. The paper has reveals the types of working relationship amongst firms in the Lagos region which includes; raw materials purchase, subcontract, collaboration in research and development, sales promotion, transportation, power supply, water supply, security, waste treatment, telecommunication, ports and shipping as well as labour supply. The paper found out that raw materials purchase/supply was more striking amongst the working relationship types. Also, the paper has revealed services sharing amongst the firms and transport as the most dominant. The most important location advantage was the market facilities. The analysis of variance carried out in relation to variation in clustering amongst the firms at 0.05% level was significant. The paper concluded that industrial cluster if encouraged, will lead to increase working relationship, which in turn have the capability of boosting, promoting and encouraging economies of clustering. Cluster concepts spatially emphasize inter-firm relations that facilitate innovative activity, which is recognized as a driving force of sustained economic growth. It is therefore recommended that these clustering of firms should be made viable, encouraged and strengthened through government investment in the industrial sector, making the location

  16. Pixels and patterns: A satellite-based investigation of changes to urban features in the Sanya Region, Hainan Special Economic Zone, China

    Science.gov (United States)

    Millward, Andrew Allan

    Throughout most of China, and particularly in the coastal areas of its south, ecological resources and traditional culture are viewed by many to be negatively impacted by accelerating urbanization. As a result, achieving an appropriate balance between development and environmental protection has become a significant problem facing policy-makers in these urbanizing areas. The establishment of a Special Economic Zone in the Chinese Province of Hainan has made its coastal areas attractive locations for business and commerce. Development activities that support a burgeoning tourism industry, but which are damaging the environment, are now prominent components of the landscape in the Sanya Region of Hainan. In this study, patterns of urban growth in the Sanya Region of Hainan Province are investigated. Specifically, using several forms of satellite imagery, statistical tools and ancillary data, urban morphology and changes to the extent and spatial arrangement of urban features are researched and documented. A twelve-year chronology of data was collected which consists of four dates of satellite imagery (1987, 1991, 1997, 1999) acquired by three different satellite sensors (SPOT 2 HRV, Landsat 5 TM, Landsat 7 ETM+). A method of assessing inter-temporal variance in unchanged features is developed as a surrogate for traditional evaluations of change detection that require spatially accurate and time-specific data. Results reveal that selective PCA using visible bands with the exclusion of an ocean mask yield the most interpretable components representative of landscape urbanization in the Sanya Region. The geostatistical approach of variography is employed to measure spatial dependence and to test for the presence of directional change in urban morphology across a time series of satellite images. Interpreted time-series geostatistics identify and quantify landscape structure, and changes to structure, and provide a valuable quantitative description of landscape change

  17. International taxation and multinational firm decisions

    NARCIS (Netherlands)

    Barrios, S.; Huizinga, H.P.; Laeven, L.; Nicodeme, G.

    2012-01-01

    Using a large international firm-level data set, we examine the separate effects of host and additional parent country taxation on the location decisions of multinational firms. Both types of taxation are estimated to have a negative impact on the location of new foreign subsidiaries. The impact of

  18. Efficiency of European Dairy Processing Firms

    NARCIS (Netherlands)

    Soboh, R.A.M.E.; Oude Lansink, A.G.J.M.; Dijk, van G.

    2014-01-01

    This paper compares the technical efficiency and production frontier of dairy processing cooperativesand investor owned firms in six major dairy producing European countries. Two parametric produc-tion frontiers are estimated, i.e. for cooperatives and investor owned firms separately, which are

  19. Identifying High Growth Firms in India

    DEFF Research Database (Denmark)

    Aggarwal, Aradhna; Sato, Takahiro

    Over the past two decades, considerable interest has grown in high growth firms (HGFs). However, the concept of HGFs still remains controversial. One of the most controversial issues is size and age of these firms. The present study argues that the current literature on HGFs may offer little help...

  20. Related party transactions and firms financial performance ...

    African Journals Online (AJOL)

    Related party transactions and firms financial performance. ... African Research Review ... financial performance using Secondary data obtained from Nigeria stock ... on Asset, Return on Equity and Earnings per share of manufacturing firms. ... Result showed RPT has no significant effects on ROA and EPS and not used to ...

  1. A new approach to firm evaluation

    NARCIS (Netherlands)

    E.M. Vermeulen (Erik); J. Spronk (Jaap); D. van der Wijst (Nico)

    1993-01-01

    textabstractIn this paper, a method is developed to evaluate firms on the basis of the risks they face. In accordance with the multi-factor method, risk is represented as a vector of sensitivities to unexpected changes of risk factors. Subsequently, the sensitivities themselves are related to firm

  2. Technology diversification, coherence, and performance of firms

    NARCIS (Netherlands)

    Leten, B.; Belderbos, R.A.; Looy, van B.

    2007-01-01

    Technological diversification at the firm level (i.e., the expansion of a firm's technology base into a wide range of technology fields) is found to be a prevailing phenomenon in all three major industrialized regions,—the United States, Europe, and Japan—prompting the term multitechnology

  3. Overeducation, wages and promotions within the firm

    NARCIS (Netherlands)

    Hartog, J.

    2004-01-01

    We analyse data from personnel records of a large firm producing energy and telecommunication and test for the effect of deviations between required and attained education of workers. Required education is measured as hiring standards set by the firm. We find the usual effects of over- and

  4. Coevolution of Firm Capabilities and Industry Competition

    NARCIS (Netherlands)

    M.W. Huygens (Marc); C.W.F. Baden-Fuller (Charles); F.A.J. van den Bosch (Frans); H.W. Volberda (Henk)

    2001-01-01

    textabstractThis paper proposes that rival firms not only search for new capabilities within their organization, but also for those that rest in their competitive environment. An integrated analysis of these search processes at both firm and industry levels of analysis shows how their interaction

  5. Knowledge Sharing in Knowledge-Intensive Firms

    DEFF Research Database (Denmark)

    Gupta, Akshey; Michailova, Snejina

    2004-01-01

    This paper is a study of the knowledge-sharing difficulties experienced by three departments in a knowledge-intensive firm. The case organization is a global consulting firm that has been on the forefront of knowledge management and has won several knowledge management related international accla...

  6. When do German Firms Change their Dividends?

    NARCIS (Netherlands)

    Correia Da Silva, L.; Goergen, M.; Renneboog, L.D.R.

    2002-01-01

    Anecdotal evidence suggests that the dividend policy of German firms is more flexible than the one of their Anglo-American counterparts.This paper analyses the decision to change the dividend for a panel of 221 German firms from 1984 to 1994.The choice of the period of study is motivated by the fact

  7. Psychic Distance, Innovation, and Firm Performance

    NARCIS (Netherlands)

    Azar, Goudarz; Drogendijk, Rian

    2014-01-01

    Previous research suggests that internationalization improves a firm's ability to innovate, but the effect of internationalizing into specific target markets or destinations on the innovation ability of firms has not been fully investigated. This study examined whether the psychic distance between

  8. 32 CFR 37.1250 - Commercial firm.

    Science.gov (United States)

    2010-07-01

    ... 32 National Defense 1 2010-07-01 2010-07-01 false Commercial firm. 37.1250 Section 37.1250... REGULATIONS TECHNOLOGY INVESTMENT AGREEMENTS Definitions of Terms Used in This Part § 37.1250 Commercial firm... does a substantial portion of its business in the commercial marketplace. ...

  9. Electronic Commerce, Digital Information, and the Firm.

    Science.gov (United States)

    Rosenbaum, Howard

    2000-01-01

    Discussion of the social context of electronic commerce (ecommerce) focuses on information imperatives, or rules that are critical for ecommerce firms. Concludes with a discussion of the organizational changes that can be expected to accompany the incorporation of these imperatives into the mission and core business processes of ecommerce firms.…

  10. Firm-level volatility and exports

    NARCIS (Netherlands)

    Vannoorenberghe, G.C.L.

    2012-01-01

    This paper shows that the share of exports in the total sales of a firm has a positive and substantial impact on the volatility of its sales. Decomposing the volatility of sales of exporters between their domestic and export markets, I show using an identification strategy based on a firm-specific

  11. 48 CFR 519.7006 - Mentor firms.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Mentor firms. 519.7006... PROGRAMS SMALL BUSINESS PROGRAMS GSA Mentor-Protégé Program 519.7006 Mentor firms. (a) Mentors must be... plan as required by FAR 19.7 - Small business mentors are exempted; or (2) A small business prime...

  12. Market Imperfections and Firm-Sponsored Training

    NARCIS (Netherlands)

    Picchio, M.; van Ours, J.C.

    2010-01-01

    Recent human capital theories predict that labor market frictions and product market competition influence firm-sponsored training. Using matched worker-firm data from Dutch manufacturing, our paper empirically assesses the validity of these predictions. We find that a decrease in labor market

  13. New workplace practices and firm performance:

    DEFF Research Database (Denmark)

    Cristini, Annalisa; Pozzoli, Dario

    Using data from the 2004 Workplace Employee Relations Survey on British establishments and two surveys on manufacturing firms located in the North of Italy, we look at the diffusion of new workplace practices in the two countries and at their impact on the firm's value added. We find...

  14. Firm clustering and innovation: Determinants and effects

    NARCIS (Netherlands)

    Boekema, F.W.M.; Oerlemans, L.; Meeus, M.

    2001-01-01

    In this article we ask why innovator firms engage in innovation networks, and which factors explain the spatial dispersion of these networks. Benefits of the use of internal and external knowledge resources for innovative performance of firms were partially confirmed. Especially the utilisation of

  15. Firm clustering and innovation : determinants and effects

    NARCIS (Netherlands)

    Oerlemans, L.A.G.; Meeus, M.T.H.; Boekema, F.W.M.

    2001-01-01

    In this article we ask why innovator firms engage in innovation networks, and which factors explain the spatial dispersion of these networks. Benefits of the use of internal and external knowledge resources for innovative performance of firms were partially confirmed. Especially the utilisation of

  16. Trade credit: Elusive insurance of firm growth

    NARCIS (Netherlands)

    Bams, Dennis; Bos, Jaap; Pisa, Magdalena

    2016-01-01

    Firms depend heavily on trade credit. This paper introduces a trade credit network into a structural model of the economy. In an empirical analysis of the model, we find that trade credit is an elusive insurance: as long as a firm is financially unconstrained and times are good, more trade credit

  17. Career Development Programs in Fortune 500 Firms.

    Science.gov (United States)

    Keller, Jack; Piotrowski, Chris

    Career development programs (CDPs) are a rather recent area of study in organizational and industrial psychology. The present study investigated the nature and evaluation of CDPs in Fortune 500 firms. Data were obtained by a mailed questionnaire completed by the firms' human resources directors. Of the 500 companies surveyed, only those 50 that…

  18. Strategic Resources and Family Firm Performance

    NARCIS (Netherlands)

    Matser, I.A.

    2013-01-01

    Most companies in the Netherlands can be labeled as family firms (according to the GEEF definition (Mandle, 2008; Flören et al., 2010). The family firm can be regarded as an open system model comprising three overlapping, interacting, and interdependent subsystems: owners, family, and managers

  19. Effect of firm variables on patent price

    Directory of Open Access Journals (Sweden)

    Shyam Sreekumaran Nair

    2012-03-01

    Full Text Available In this study, using singleton patent auction price data from Ocean Tomo, LLC, we analyse the effect of firm variables on patent price. Patents owned by small firms attract higher price than patents owned by large firms, if they engage in multi-country filings. The patents owned by small firms get cited more than the patents owned by large firms. The patents owned by individual inventors attract a higher price than the patents owned by organisations when multi-country filings are not included. We believe that the lack of resources is preventing individual inventors from engaging in multi-country filings and maximising the revenue from their invention. A larger representative data should be used to replicate the results before generalising it.

  20. Choice of Ownership Structure and Firm Performance

    DEFF Research Database (Denmark)

    Jones, Derek C; Kalmi, Panu; Mygind, Niels

    2003-01-01

    In this paper we use rich panel data for a representative sample of Estonian enterprises to analysediverse issues related to the determinants of ownership structures and ownership changes afterprivatisation. A key focus is to determine whether ownership changes are related to economicefficiency....... While employee owned firms are found to be much more prone than other firms toswitch ownership categories, often `employee owned' firms remain `insider-owned' as ownershippasses from current employees to managers and former employees. Logit analyses of thedeterminants of ownership structures...... and ownership changes provides mixed support for severalhypotheses. As predicted: (i) wealth and resource constraints play a crucial role in thedetermination of ownership, with foreigners buying firms with the highest equity levels andinsiders buying firms with the lowest equity valuations; (ii) risk aversion...