WorldWideScience

Sample records for firm level perspective

  1. Emotion management strategies in PR firms: senior level perspectives of professional relationships (working paper)

    OpenAIRE

    Yeomans, L

    2016-01-01

    Much of the PR literature tends to focus on engagement in building relationships between organisations and publics or stakeholders. However, less is known about everyday interpersonal engagement, especially in regard to the professional context of the PR consulting firm (Sissons, 2015). This paper asks what it means to engage with clients and journalists, from the perspectives of managing directors and owners of London-based public relations agencies. What are the “feeling rules” (Hochschild,...

  2. Performance measurement systems, TQM, and multi-level firm performance: a person-organisation fit perspective

    OpenAIRE

    Wei, Jo-Ting; Chang, Yeun Wen; Zhang, Xiaoxiang; Wu, Hsin-Hung

    2017-01-01

    For firms implementing TQM, there is a need to redesign performance measurement systems (PMS). Innovated PMS ought to have measurement diversity in their structure with considering the spirit of TQM and emphasize the congruence of goals between employees and firms by adding the viewpoint of person-organisation fit (P-O fit). This paper adopts structural equation modeling (SEM) to examine Taiwanese manufacturing firms to study the association between the P-O fit of PMS and the implementation o...

  3. Firm-level perspectives on State-Business Relations in Africa

    DEFF Research Database (Denmark)

    Charles, Goodluck; Jeppesen, Søren; Kamau, Paul

    2017-01-01

    interviews with 41 firms, 20 key informants and a range of secondary sources on the food-processing sectors of Kenya, Tanzania and Zambia. The article shows that businesses in these countries have limited policy influence, find policies and programmes to be inadequate when targeting the needs......Experiences from developed and emerging economies inform us that close state–business relations (SBRs) are crucial for economic development and structural transformation. Based on the positive experiences from other parts of the world, most African governments have begun processes to establish...... collaborative SBRs. Amongst other initiatives, these processes include amendments to existing laws to facilitate public–private interaction, direct support to existing business associations (BAs). This article draws on an analysis of survey data from 210 local firms, complemented with qualitative data from...

  4. Firm-level perspectives on State-Business Relations in Africa

    DEFF Research Database (Denmark)

    Charles, Goodluck; Jeppesen, Søren; Kamau, Paul

    2017-01-01

    Experiences from developed and emerging economies inform us that close state–business relations (SBRs) are crucial for economic development and structural transformation. Based on the positive experiences from other parts of the world, most African governments have begun processes to establish...... collaborative SBRs. Amongst other initiatives, these processes include amendments to existing laws to facilitate public–private interaction, direct support to existing business associations (BAs). This article draws on an analysis of survey data from 210 local firms, complemented with qualitative data from...... and requirements of local businesses and that BAs in these countries are poorly organised. In spite of initiatives taken by the states and other actors, including an increase in the number of formal relations between state and businesses, it is difficult to conclude whether SBRs are collaborative or collusive...

  5. 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...

  6. 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...

  7. An empirical analysis of a maturity model to assess information system success : a firm-level perspective

    NARCIS (Netherlands)

    Suh, Hanjun; Chung, Sunghun; Choi, Jinho

    This research investigates the relationship between IS investment and IS success and the moderating effects of IS maturity. We find the moderating role of IS maturity between IS investment and IS success with a contingency perspective. As administering a group survey of about 300 business executives

  8. Markups and Firm-Level Export Status

    DEFF Research Database (Denmark)

    De Loecker, Jan; Warzynski, Frederic

    and export behavior using plant-level data. We find that i) markups are estimated significantly higher when controlling for unobserved productivity, ii) exporters charge on average higher markups and iii) firms' markups increase (decrease) upon export entry (exit).We see these findings as a first step...... in opening up the productivity-export black box, and provide a potential explanation for the big measured productivity premia for firms entering export markets....

  9. Markups and Firm-Level Export Status

    DEFF Research Database (Denmark)

    De Loecker, Jan; Warzynski, Frederic

    We derive an estimating equation to estimate markups using the insight of Hall (1986) and the control function approach of Olley and Pakes (1996). We rely on our method to explore the relationship between markups and export behavior using plant-level data. We find significantly higher markups when...... we control for unobserved productivity shocks. Furthermore, we find significant higher markups for exporting firms and present new evidence on markup-export status dynamics. More specifically, we find that firms' markups significantly increase (decrease) after entering (exiting) export markets. We...... see these results as a first step in opening up the productivity-export black box, and provide a potential explanation for the big measured productivity premia for firms entering export markets....

  10. Advertising in accounting firms: Empirical Perspective

    OpenAIRE

    Kusuma, Hadri

    2016-01-01

    Advertising becomes an interesting tool for the accounting profession in the face of increased competition. Accounting firms today realize that advertising will play an important role in their overall success.

  11. Risk Management Practices: The Ghanaian Firms' Perspective ...

    African Journals Online (AJOL)

    Using a quantitative approach the findings of the study are that Ghanaian firms understand risk and risk management. Additionally, operational, liquidity and credit risk are the most dominant risks experienced while risk identification and selection jointly determine risk management practices in Ghana. Based on the findings ...

  12. Forecasting Aggregate Productivity using Information from Firm-level Data

    NARCIS (Netherlands)

    Bartelsman, E.J.; Wolf, Z.

    2014-01-01

    In this paper, we explore whether information from firm-level data can improve forecasts of aggregate productivity growth. We generate firm-level productivity measures and aggregate them into time-series components that capture within-firm productivity and the productivity contribution of

  13. 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...

  14. 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

  15. Global Sourcing, Technology, and Factor Intensity: Firm-level Relationships

    OpenAIRE

    TOMIURA Eiichi

    2007-01-01

    This paper empirically examines how technology and capital intensity are related with the firm's global sourcing decision. Firm-level data are derived from a survey covering all manufacturing industries in Japan without any firm-size threshold. Firms are disaggregated by their make-or-buy decision (in-house or outsourcing) and by their choice of sourcing location (offshore or domestic). Capital-intensive or R&D-intensive firms tend to source in-house from their FDI affiliates rather than outs...

  16. Listed Firm's Level of Stakeholder Transparency

    DEFF Research Database (Denmark)

    Rose, Caspar

    2015-01-01

    This article analyzes how Danish listed firms comply with the Danish Corporate Governance Code's recommendations regarding the categories: Role of shareholders, role of stakeholders and transparency. It is shown that the number of recommendations can be explained by six different underlying facto...

  17. Global Sourcing: Evidence from Spanish Firm-level Data

    DEFF Research Database (Denmark)

    Kohler, Wilhelm; Smolka, Marcel

    2012-01-01

    We investigate the link between productivity of firms and their sourcing behavior. Following Antràs and Helpman (2004) we distinguish between domestic and foreign sourcing, as well as between outsourcing and vertical integration. A firm's choice is driven by a hold-up problem caused by lack of en...... of enforceable contracts. We use Spanish firm-level data to examine the productivity premia associated with the different sourcing strategies....

  18. Firm-Level Determinants of Exporting Behaviour: Evidence from ...

    African Journals Online (AJOL)

    This paper uses firm-level panel data to investigate the exporting behaviour of the Kenyan manufacturing firms. Using probit and tobit regression models, the results obtained show that factors determining the decision to export are different from those affecting the share exported. Likewise, factors determining exporting ...

  19. Effect of Knowledge Sources on Firm Level Innovation in Tanzania

    NARCIS (Netherlands)

    Osoro, Otieno; Kahyarara, Godius; Knoben, Joris; Vermeulen, P.A.M.

    In this paper we analyse the impact of different sources of knowledge on product innovation in Tanzania using firm level data from 543 firms. Specifically, we assess the separate impacts of internal knowledge and external knowledge and the combined impact of both on a firm’s likelihood of

  20. 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

  1. Energy efficiency and exporting: Evidence from firm-level data

    International Nuclear Information System (INIS)

    Roy, Jayjit; Yasar, Mahmut

    2015-01-01

    While exporting firms and non-exporters have been compared across several dimensions, empirical comparisons on the basis of environmental performance are relatively few. Moreover, analyzing the environmental implications of firm-level exports is not trivial due to non-random selection into exporting. In this light, we examine the impact of exporting on firms' energy efficiency by resorting to an instrumental variables strategy based on a differencing approach (Pitt and Rosenzweig, 1990). Utilizing data from Indonesia, we find (i) exporting to reduce the use of fuels (relative to electricity) and (ii) concerns over endogeneity of exporting status to be relevant. - Highlights: • We examine the impact of exporting on firms' energy efficiency. • We employ cost share equations, firm-level data from Indonesia, and an instrumental variables strategy. • Exporting is found to reduce the use of fuels (relative to electricity).

  2. Correlation between Sales of Foreign Affiliates and Productivity of Multinational Firms: Evidence from Korean Firm-Level Data

    Directory of Open Access Journals (Sweden)

    Jung Hur

    2013-09-01

    Full Text Available Using firm-level panel data for Korean multinational enterprises (MNEs, we make a distinction between being the only affiliate of a parent firm and being one of the multiple affiliates of a parent firm. In particular, we attempt to find a correlation between the sales of foreign affiliates and the productivity of multinational firms. Our main empirical results in this paper suggest that productive Korean MNEs would enlarge the number of affiliates in the host country.

  3. Immigration and Firm Performance: a city-level approach

    Directory of Open Access Journals (Sweden)

    Mercedes Teruel Carrizosa

    2009-10-01

    Full Text Available This article analyses the effect of immigration flows on the growthand efficiency of manufacturing firms in Spanish cities. While most studies werefocusing on the effect immigrants have on labour markets at an aggregate level,here, we argue that the impact of immigration on firm performance should not onlybe considered in terms of the labour market, but also in terms of how city’s amenitiescan affect the performance of firms. Implementing a panel data methodology,we show that the immigrants’ increasing pressure has a positive effect on labourproductivity and wages and a negative effect on the job evolution of these manufacturingfirms. In addition, both small and new firms are more sensitive to thepressures of immigrant inflow, while foreign market oriented firms report higherproductivity levels and a less marked impact of immigration than their counterparts.We also present a set of instruments to control for endogeneity. It allows us toconfirm the effect of local immigration flows on the performance of manufacturingfirms.

  4. Effect of Knowledge Sources on Firm Level Innovation in Tanzania

    NARCIS (Netherlands)

    Osoro, O.; Vermeulen, P.A.M.; Knoben, J.; Kahyarara, G.

    2016-01-01

    This paper analyses the impact of different sources of knowledge on product and process innovation in Tanzania using firm-level data. We specifically analyse the separate impacts of internal knowledge, external knowledge and the combined impact of both types of knowledge on firms’ product and

  5. Perceived impediments to export involvement among small and medium sized firms : non-exporters perspective

    Directory of Open Access Journals (Sweden)

    Mercy Mpinganjira

    2011-12-01

    Full Text Available Purpose: The main purpose of this paper is to examine perceived impediments to export involvement among non-exporting small and medium sized firms (SME's in Malawi. The study also examines levels of interest in exporting among the firms. Problem investigated: Many countries have programs aimed at promoting export involvement among SME's. Despite this, most SME's continue to ignore exporting as a viable business strategy. Information on perceived impediments to export involvement especially from the non-exporters' perspective is often lacking hence the need for this study. Methodology: Data was collected from 80 owner managers of non-exporting SME's. A structured questionnaire was the main instrument used to collect data. Personal interviews were also held with managers for the purposes of probing their answers to the questions in the questionnaire. Statistical Package for Social Science (SPSS version 18 was used to analyse the quantitative data obtained from use of the structured questionnaire. Qualitative data obtained through personal interviews was analysed used thematic analysis. Findings: The findings of the study showed significant levels of interest in exporting among the firms. The majority of the owner managers indicated willingness to exploit export opportunities that may be readily available to them. The findings however showed that just over half of the respondents had discussed or investigated the possibility of exporting before. On impediments to exporting, the findings showed that managers perceive many factors as important impediments to their firm's involvement in exporting. The top two most important impediments were internal to the firm and related to human resource issues. They included insufficient knowledge about export opportunities and lack of personnel knowledgeable in exporting. Originality and value of the research: A review of literature shows that most export promotion studies tend to focus more on issues relating to

  6. TAX EVASION, LEVEL OF INTERNET CORPORATE REPORTING AND FIRM VALUE: EVIDENCE FROM INDONESIAN MANUFACTURING FIRMS

    Directory of Open Access Journals (Sweden)

    Asmoro P.S.

    2018-03-01

    Full Text Available As a developing country that accumulates its source of revenue to taxes, Indonesia is not spared from tax compliance issues. The low level of tax compliance indicates a different point of view between the government and the Taxpayer. The low level of tax compliance indicates a different point of view between the government and the Taxpayer. Taxpayers still consider the obligation to pay taxes as an expense that can reduce their income or profits. Therefore, the rational Taxpayer will try to minimize the tax burden. One of them is by doing Tax Evasion. Taxation management is more often done by the Taxpayer Agency, especially the Manufacturing company. This is because the company has a very high business risk. Tax Evasion can increase organizational complexity which in turn can reduce financial transparency. Therefore, companies are required to disclose more information and provide flexible reporting systems that facilitate stakeholders. This encourages companies in the world to take advantage of the development of information technology and interconnection networking through internet corporate reporting. Utilization of internet corporate reporting is expected to increase the value of the company. This study aims to analyze the relationship between the concept of Tax Evasion, the level of internet corporate reporting disclosure, and the firm value. The results showed that the three hypotheses in this study were accepted. Tax Evasion affects the level of internet corporate reporting disclosure. In addition, Tax Evasion also directly or indirectly influence the firm value through the level disclosure of internet corporate reporting.

  7. Does Government Support for Private Innovation Matter? Firm-Level Evidence from Turkey and Poland

    OpenAIRE

    Wojciech Grabowski; Teoman Pamukcu; Krzysztof Szczygielski; Sinan Tandogan

    2013-01-01

    The aim of the project is to analyze government support for innovation in a comparative perspective by first examining the main existing instruments of financial support for innovation in Turkey and Poland, and secondly to assess their effectiveness by applying recent econometric techniques to firm-level data for both countries obtained from the Community Innovation Survey (CIS). Comparing Turkey to Poland is both meaningful and promising from a policy-analysis point of view. Both countries a...

  8. Measuring True Sales and Underreporting with Matched Firm-Level Survey and Tax-Office Data

    NARCIS (Netherlands)

    Zhou, F.; Oostendorp, R.H.

    2014-01-01

    This paper uses firm-level survey data matched with official tax records to estimate the unobserved true sales of formal firms in Mongolia. Taking into account firm-level incentives to comply with taxes and a production function technology linking unobserved true sales with observable firm-level

  9. Small firm perspective in customer relationship management implementation

    OpenAIRE

    Teh, Soo Yee

    2017-01-01

    CRM has been a popular topic since the 90s and several of studies have been conducted by academic scholars from diverse multidisciplinary fields of study. CRM implementation have always been focused in large organizations and not that much attention given has been to smaller size organization. However, with the emerging small size firms in the market CRM software providers shifted the attention from larger firms to smaller size firms. The ready to use software, lower cost and features functio...

  10. Cross-regional Variations in Offshore Outsourcing Choices: Evidence from Firm-level Data

    OpenAIRE

    TOMIURA Eiichi; ITO Banri; WAKASUGI Ryuhei

    2008-01-01

    In offshoring, a firm chooses outsourcing to independent suppliers or in-sourcing from their FDI subsidiaries. This paper empirically examines how the factor intensity is related with the firm's offshore make-or-buy decision based on the Japanese direct firm-level data of offshoring across all manufacturing industries. This paper confirms that in-sourcing firms tend to be substantially more capital-intensive than outsourcing firms, even if firm size or industry is controlled for. Among the fi...

  11. Taking it to another level: do personality-based human capital resources matter to firm performance?

    Science.gov (United States)

    Oh, In-Sue; Kim, Seongsu; Van Iddekinge, Chad H

    2015-05-01

    Drawing on the attraction-selection-attrition perspective, strategic human resource management (SHRM) scholarship, and recent human capital research, this study explores organization-level emergence of personality (i.e., personality-based human capital resources) and its direct, interactive, and (conditional) indirect effects on organization-level outcomes based on data from 6,709 managers across 71 firms. Results indicate that organization-level mean emotional stability, extraversion, and conscientiousness are positively related to organization-level managerial job satisfaction and labor productivity but not to financial performance. Furthermore, organization-level mean and variance in emotional stability interact to predict all three organization-level outcomes, and organization-level mean and variance in extraversion interact to predict firm financial performance. Specifically, the positive effects of organization-level mean emotional stability and extraversion are stronger when organization-level variance in these traits is lower. Finally, organization-level mean emotional stability, extraversion, and conscientiousness are all positively related to firm financial performance indirectly via labor productivity, and the indirect effects are more positive when organization-level variance in those personality traits is lower. Overall, the findings suggest that personality-based human capital resources demonstrate tangible effects on organization-level outcomes. Theoretical and practical implications of these findings are discussed along with study limitations and future research directions. (c) 2015 APA, all rights reserved.

  12. 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.

  13. Corporate governance attributes, firm characteristics and the level of corporate disclosure: Evidence from the Indian listed firms

    Directory of Open Access Journals (Sweden)

    Sunil Nandi

    2013-01-01

    Full Text Available This study investigates the association between firm characteristics, corporate governance attributes and the level of corporate disclosure of listed firms in India. The research paper has been based on a sample of 60 firms listed in the Bombay Stock Exchange (BSE / National Stock Exchange (NSE during the study period from 2000-01 to 2009-10. The study has used the Standard & Poor (2008 model for measuring the level of corporate disclosure. To examine the association between explanatory variables and the level of corporate disclosure, multiple regression model has been used. The results suggest a positive relationship between board size, ratio of audit committee members to total board members, family control, CEO duality, firm size, profitability, liquidity and the extent of corporate disclosure. However, the degree of corporate disclosure is negatively related to board composition, leverage and age of the firm.

  14. 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

  15. Determining firm characteristics and the level of voluntary corporate governance disclosures among Malaysian listed property companies

    OpenAIRE

    Talpur Shabana; Lizam Mohd; Keerio Nazia

    2018-01-01

    This study examined the level of voluntary corporate governance disclosures and the influence of firm characteristics (i.e., firm size, firm age, and firm market listing) on the level of these disclosures among Malaysian property listed companies. The check-list to measure the voluntary corporate governance disclosures was adopted from Malaysian corporate governance index 2011 by Minority Shareholder Watchdog Group (MSWG). The voluntary corporate governance disclosure practices and firm speci...

  16. Board composition in family-influenced firms: A dynamic perspective

    Directory of Open Access Journals (Sweden)

    Wiem El Manaa

    2010-11-01

    Full Text Available This paper uses a sample of 76 family businesses in Tunisia to investigate the impact of the family firm dynamic on the composition of their boards of directors. We argue that whether or not a transition in ownership is planned, firms have different governance needs and characteristics depending on the generational phase. The empirical results show that board composition is positively influenced by both generational evolution and succession planning. This study provides evidence of an increase in the appointment of outside directors to boards of family firms from the third generation of ownership. This result implies that it is important to consider the generational phase and succession process of the family firm in order to better understand its governance system.

  17. 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.

  18. Innovation in an international third party logistics firm: A strategy-as-practice perspective

    Directory of Open Access Journals (Sweden)

    Lianguang Cui

    2010-11-01

    Full Text Available Logistics firms play an important role in the economy but they have received little attention in strategic management and logistics management literature. This paper intends to fill in this gap by looking a specific strategising process, innovation, at an international third party logistics (TPL firm. Using strategy as a practice perspective, the paper describes and analyses how innovation emerges and evolves over time. Drawing on an in-depth longitudinal case study of an international TPL firm, this study shows that intra-organisational interactions as well as inter-organisational interactions are essential in the innovation process at logistics firms. The innovation process at logistics firms is complicated and includes both top-down and bottom-up processes. It is vertically decoupled and multidirectional. Innovation at logistics firms emerges as a combination of an ad hoc response to a customer request and a purpose-driven interactive process.

  19. Complex Incremental Product Innovation in Established Service Firms: A Micro Institutional Perspective

    OpenAIRE

    Vermeulen, Patrick; Bosch, Frans; Volberda, Henk

    2007-01-01

    textabstractMany product innovation studies have described key determinants that should lead to successful incremental product innovation. Despite numerous studies suggesting how incremental product innovation should be successfully undertaken, many firms still struggle with this type of innovation. In this paper, we use an institutional perspective to investigate why established firms in the financial services industry struggle with their complex incremental product innovation efforts. We ar...

  20. Competitive position, managerial ties, and profitability of foreign firms in China: an interactive perspective

    OpenAIRE

    Julie Juan Li; Kevin Zheng Zhou; Alan T Shao

    2009-01-01

    Despite the prominence of the competitive strategy perspective, it remains unclear whether foreign firms entering China can still adopt a differentiation or low-cost position to achieve superior performance, given the unique market and institutional environments in China. Alternatively, should foreign firms follow conventional wisdom and actively build managerial ties with government officials and business community to enhance their performance? This study develops and tests an interactive pe...

  1. HUMAN RESOURCE MANAGEMENT BEST PRACTICES AND FIRM PERFORMANCE: A UNIVERSALISTIC PERSPECTIVE APPROACH

    Directory of Open Access Journals (Sweden)

    Loo-See Beh

    2013-11-01

    Full Text Available The universalistic perspective of human resource management practices perceives that a set of practices can achieve competitive advantage and firm performance. This study sought to investigate the relationship between best human resource practices and firm performance. A descriptive survey research design was used to gather primary data using self-administered questionnaire. The study population (n=312 was comprised of non-executives, executives, managers, and top management from seven major insurance firms at headquarters in the Klang Valley, Malaysia. The study found that performance appraisal, internal communication, SHRM alignment in the organization, and career planning were the human resource management best practices.

  2. Can Production Subsidies Explain China's Export Performance? Evidence from Firm-level Data

    DEFF Research Database (Denmark)

    Gong, Yundan; Yu, Zhihong; Girma, Sourafel

    2009-01-01

    This paper analyses the relationship between production subsidies and firms" export performance using a very comprehensive and recent firm-level database and controlling for the endogeneity of subsidies. It documents robust evidence that production subsidies stimulate export activity at the inten......This paper analyses the relationship between production subsidies and firms" export performance using a very comprehensive and recent firm-level database and controlling for the endogeneity of subsidies. It documents robust evidence that production subsidies stimulate export activity...

  3. Tariffs and Firm-Level Heterogeneous Fixed Export Costs

    DEFF Research Database (Denmark)

    Schröder, Philipp J.H.; Jørgensen, Jan Guldager

    2006-01-01

    This paper presents a two country intra-industry trade model with bilateral ad valorem tariffs and fixed export costs that are heterogeneous across firms. In this model not all firms will choose to export. We examine the effects of reciprocal changes in the tariff and the fixed export barrier...... on the number of firms, firm profits, tariff revenue and consumer welfare. We show that both types of trade barriers reduce (increase) the number of exporting (pure domestic) firms. However, the sum of available home and foreign varieties may actually increase for small tariffs. Firm profits fall for both...... the tariff and the fixed export barrier. Tariff revenue falls for an increase in fixed exporting costs whereas we have a Laffer curve effect for the tariff. Finally, we establish that welfare falls with fixed export costs and large tariffs but increases for small tariffs, i.e. there exist a welfare...

  4. Firm-level innovation activity, employee turnover and HRM practices

    DEFF Research Database (Denmark)

    Eriksson, Tor; Qin, Zhihua; Wang, Wenjing

    2014-01-01

    This paper examines the relationship between employee turnover, HRM practices and innovation in Chinese firms in five high technology sectors. We estimate hurdle negative binomial models for count data on survey data allowing for analyses of the extensive as well as intensive margins of firms' in...

  5. Importing, productivity and SMEs: firm-level evidence from the Netherlands

    NARCIS (Netherlands)

    van den Berg, M.R.|info:eu-repo/dai/nl/297206710

    2013-01-01

    Constructing a comprehensive data set covering Dutch firms over the years 2002-2008 I am the first to investigate the relationship between trade status, firm size and firm-level productivity in the Netherlands, thereby focusing particularly on small and medium sized enterprises (SMEs). The empirical

  6. 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.

  7. Monopolistic Competition, International Trade and Firm Heterogeneity - a Life Cycle Perspective

    DEFF Research Database (Denmark)

    Nielsen, Jørgen Ulff-Møller; Hansen, Jørgen Drud

    This paper presents a dynamic international trade model based on monopolistic competition, where observed intra-industry differences at a given point in time reflect different stages of the firm's life cycle. New product varieties of still higher quality enter the market every period rendering old...... varieties obsolescent in a process of creative destruction. For given technology (variety) production costs decrease after an infant period due to learning. It is shown that several patterns of exports may arise depending primarily on the size of fixed trade costs. At a given point in time firms therefore...... differ due to different age, although all firms are symmetric in a life cycle perspective. The paper thus offers an alternative view on firm heterogeneity compared with other recent papers, where productivity differences appear as an outcome of a stochastic process....

  8. External relationships and marketing practices in Serbian firms: The intangible capital perspective

    Directory of Open Access Journals (Sweden)

    Mitić Sanja

    2015-01-01

    Full Text Available This paper presents selected results of research on intangible capital in Serbian firms. The results are part of a broader research project, based on a survey of a sample of Serbian firms. The focus of the project is the various forms of intangible capital, and in this paper we analyse whether and to what degree firms build up their brand capital and increase marketing competencies, and what kind of external relationships they experience. The results provide the first insight into the development of the marketing resources of Serbian firms and show that this element of intangibles is gradually improving but still is at a low level. We find significant differences in the use of marketing resources between firms in regard to their size, international market experience, and ownership type. A more significant development of brand capital, external relationships, and marketing innovations and competencies is found in larger firms, firms with considerable international business experience compared to firms primarily oriented to the domestic market, and in foreign-owned firms. After identifying the strengths and weaknesses of marketing practices in Serbian enterprises we suggest some measures for overcoming the analyzed constraints in order to improve firms’ market positioning, especially in foreign markets.[Projekat Ministarstva nauke Republike Srbije, br. 179062

  9. Productivity and Openness: Firm Level Evidence in Brazilian Manufacturing Industries

    OpenAIRE

    Wenjun Liu; Shoji Nishijima

    2012-01-01

    This study investigates the productivity of Brazilian manufacturing industries, particularly addressing the influence of liberalization on productivity. We first calculate total factor productivity (TFP) by estimating the stochastic frontier production function and the inefficiency determination equation simultaneously. Then TFP growth rates are regressed on openness-related variables and other firm characteristics. The results show that firm openness to the world is a crucial determinant of ...

  10. Political perspectives of relationship networks to internationalization of firms in an emerging economy

    Directory of Open Access Journals (Sweden)

    Jefferson Marlon Monticelli

    2017-08-01

    Full Text Available The neo-institutional theory has been used to explain inter-organizational networks related phenomena from the economic and sociological perspectives. The political perspective has not been often used to study institutional contexts of networks. We aim to analyze the decision-making of the formal institutions in the internationalization process of firms in an emerging economy from a political bias. For the empirical field of study, we considered the Brazilian wine industry. Starting from a case study with twenty-three interviews with representatives of wineries and entities of this industry, our paper furthers the understanding of how institutions influence the internationalization of firms in an emerging economy. Based on the political perspective of the neo-institutional theory, our study describes how institutions, mainly the government, can influence an industry. Government cannot afford resources to benefit or protect all the industries, as well as cannot provide incentives to all firms, and those that are supported will lose competitiveness. For the firms, the choices are based on trying to achieve economic advantages through political influences. For the institutions, the choices are based on political influences considering institutional strategies.

  11. Determining firm characteristics and the level of voluntary corporate governance disclosures among Malaysian listed property companies

    Directory of Open Access Journals (Sweden)

    Talpur Shabana

    2018-01-01

    Full Text Available This study examined the level of voluntary corporate governance disclosures and the influence of firm characteristics (i.e., firm size, firm age, and firm market listing on the level of these disclosures among Malaysian property listed companies. The check-list to measure the voluntary corporate governance disclosures was adopted from Malaysian corporate governance index 2011 by Minority Shareholder Watchdog Group (MSWG. The voluntary corporate governance disclosure practices and firm specific characteristics were obtained from annual reports of property listed companies on Bursa Malaysia for the period of 2012 to 2015. The findings suggested an improving voluntary corporate governance reforms in Malaysia. However, the firm size was found as an inflicting factor in determining the level and quality of voluntary corporate governance disclosure practices. On the contrary, the results found were contradicting the hypothesis related to firm age and firm market listing, as no relation of voluntary corporate governance disclosures and firm age and firm market listing. The study has made an interesting contribution toward the disclosure and corporate governance by contributing in understanding the importance of quality disclosure and good governance practices.

  12. Tariffs and Firm-Level Heterogeneous Fixed Export Costs

    DEFF Research Database (Denmark)

    Jørgensen, Jan G.; Schröder, Philipp J.H.

    2005-01-01

    tariff that maximizes national and world welfare. Applying one of the simplest specifications possible, namely a symmetric two-country intra-industry trade model with fixed export costs that are heterogeneous across firms, we find that the reciprocal reduction of small tariffs reduces welfare....

  13. The Influence of Green Supply Chain Integration on Firm Performance: A Contingency and Configuration Perspective

    Directory of Open Access Journals (Sweden)

    Yongtao Song

    2017-05-01

    Full Text Available This study investigates the impacts of three dimensions of green supply chain integration (GSCI on operational and financial performance, from both a contingency and a configuration perspective. From the contingency perspective, we used hierarchical regression to determine the impacts of individual GSCI dimensions (green internal, customer and supplier integration and their interactions on firm performance. From the configuration perspective, we used cluster analysis to develop patterns of GSCI, which were analyzed in terms of GSCI strength and balance. Analysis of variance was used to examine the relationship between GSCI pattern and firm performance. We used data collected from manufacturing firms in Shanxi, Shandong, Beijing, Guangdong and Jiangsu to test hypotheses. The findings from both the contingency and configuration perspective indicate that GSCI was related to both operational and financial performance. Furthermore, the interaction between green internal integration and green customer integration was positively related to both operational and financial performance, while the interaction between green internal integration and green supplier integration was negatively related to financial performance. The interaction between green customer integration and green supplier integration was positively related to financial performance.

  14. The Great Trade Collapse and the Spanish Export Miracle: Firm-level Evidence from the Crisis

    OpenAIRE

    Eppinger, Peter S.; Meythaler, Nicole; Sindlinger, Marc-Manuel; Smolka, Marcel

    2017-01-01

    We provide novel evidence on the micro-structure of international trade during the 2008 financial crisis and subsequent global recession by exploring a rich firm-level data set from Spain. The focus of our analysis is on changes at the extensive and intensive firm-level margins of trade, as well as on performance differences (jobs, productivity, and firm survival) across firms that differ in their export status. We find no adverse effects of the financial crisis on foreign market entry or exi...

  15. Icelandic media firms viewed from the perspective of agency theory

    Directory of Open Access Journals (Sweden)

    Guðbjörg Hildur Kolbeins

    2015-06-01

    Full Text Available It has previously been proposed that agency theory (principal-agent approach might be applied to media organizations to understand how media owners make sure that their companies are managed according to their wishes. Thus, the purpose of the present study was to investigate: a whether agency theory is applicable to three Icelandic media companies, and b how the theory manifests itself in the management practices of these companies. The media companies that were examined were: the Icelandic National Broadcasting Service (RÚV ohf., 365 miðlar ehf. and Árvakur hf. Qualitative interviews were conducted with three editors-in-chief, two CEOs/publishers, the director general of RÚV and the news director of RÚV in May of 2012. Two of the interviewees were also part- owners of the media companies. The results indicated that it is, indeed, possible to analyze management practices of media organizations from the perspective of agency theory. However, it varies how much the companies are driven by profit maximization, for instance – on which agency theory places an optimum emphasis. The media house 365 miðlar ehf. turned out to be the best example of how the underlying constructs of agency theory are incorporated into the management practices of a media organization.

  16. Innovation, Technology and Decision Making: A Perspective for Strategic Action in Firms

    Science.gov (United States)

    Mulenburg, Gerald M.

    2002-01-01

    Innovation, technology, and the making of decisions are tightly intertwined in what can generally be called, strategic decision making. Although true for all firms, it is especially true in innovative, high technology firms that operate in a turbulent, fast moving environment where strategic decisions must be made accurately and quickly to survive. This paper looks at some factors reported in the literature that affect how and why the strategic decision process is so important, especially in companies in fast-moving, competitive environments. The work of several prominent authors who looked critically at past theory and research, and the current state of knowledge and practice, provides a perspective of how firms make strategic decisions.

  17. Effect of Work-Life Balance Practices on Firm Productivity: Evidence from Japanese firm-level panel data

    OpenAIRE

    YAMAMOTO Isamu; MATSUURA Toshiyuki

    2012-01-01

    This paper examines how firm practices that could contribute to worker attainment of work-life balance (WLB) affect the total factor productivity (TFP) of a firm, by using panel data of Japanese firms from the 1990s. We observed a positive correlation between the WLB practices and TFP among sampled firms. However, that correlation vanished when we controlled for unobserved firm heterogeneity, and we found no general causal relationship in which WLB practices increase firm TFP in the medium or...

  18. The effects of country and firm-level governance on cash management

    NARCIS (Netherlands)

    Seifert, Bruce; Gonenc, Halit

    We examine the effects of both country and firm-level governance on cash holdings and the value of cash for a large international sample during the period 2002-2013. We find that both strong country and strong firm-level governance reduce the amount of cash holdings. We observe that a number of the

  19. Listening to firms : how to use firm-level surveys to assess constraints on private sector development

    OpenAIRE

    Stone, Andrew H.W.

    1992-01-01

    Firm-level surveys elicit information important to formulating sound policy advice and designing projects to promote private sector development. Drawing on recent World Bank experience in eight countries, the author advises why and how to implement targeted field surveys by answering the following questions: Why use targeted field surveys? How should surveys be focused and designed? What types of questions work best in surveys? How can surveys be oriented toward their target population? How s...

  20. Is Innovation Destroying Jobs? Firm-Level Evidence from the EU

    Directory of Open Access Journals (Sweden)

    Mariacristina Piva

    2018-04-01

    Full Text Available Using a unique firm-level database comprising the top European R&D investors over the period 2002–2013 and running LSDVC estimates, this study finds a significant labor-friendly impact of R&D expenditures. However, this positive employment effect appears limited in magnitude and entirely due to the medium- and high-tech sectors, while no effect can be detected in the low-tech industries. From a policy point of view, this outcome supports the EU2020 strategy but—taking into account that most European economies are specialized in low-tech activities—is also worrying in terms of future perspectives of the European labor market.

  1. INNOVATION ANALYSIS BASED ON SCORES AT THE FIRM LEVEL

    Directory of Open Access Journals (Sweden)

    Cătălin George ALEXE

    2014-04-01

    Full Text Available Innovation analysis based on scores (Innovation Scorecard is a simple way to get a quick diagnosis on the potential of innovation of a firm in its intention to achieve the innovation capability. It aims to identify and remedy the deficient aspects related to innovation management being used as a measuring tool for the innovation initiatives over time within the innovation audit. The paper aims to present the advantages and disadvantages of using the method, and the three approaches developed over time. Therefore, the model proposed by the consulting firm Arthur D. Little in collaboration with the European Business School, Eckelmann's model and AGGB's local model are summarized and compared. At the end of the paper, several possible solutions are proposed to improve the way of analysis based on scores.

  2. Small Firm De-internationalization: An Entrepreneurship Perspective

    DEFF Research Database (Denmark)

    Turcan, Romeo V.

    a dialogue between entrepreneurial cognition and organic growth directed towards new value creation. In turn, organic growth, seen as a transition from one gestalt to another, creates a dialogue between perceived resource availability and entrepreneurial orientation. As an eventual level of analysis within...

  3. 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.

  4. Working long hours: less productive but less costly? Firm-level evidence from Belgium

    OpenAIRE

    DELMEZ, Françoise; Vandenberghe, Vincent

    2017-01-01

    From the point of view of a profit-maximizing firm, the optimal number of working hours depends not only on the marginal productivity of hours but also on the marginal labour cost. This paper develops and assesses empirically a simple model of firms' decision making where productivity varies with hours and where the firm faces labour costs per worker that are invariant to the number of hours worked: i.e. quasi-fixed labour costs. Using Belgian firm-level data on production, labour costs, work...

  5. Strategic Adjustment Capacity, Sustained Competitive Advantage, and Firm Performance: An Evolutionary Perspective on Bird Flocking and Firm Competition

    Directory of Open Access Journals (Sweden)

    Shou Chen

    2017-01-01

    Full Text Available Imitating the positioning rules in the bird flocking system, the strategic adjustment capacity is decomposed into three aspects, which are the organizational learning capacity from the top firms, the extent to which firms maintain or rely on the best operational capacity vector in history, and the ability to overcome the disadvantage while maintaining the advantage of the operational capacity vector from the previous years, respectively. Financial vectors are constructed to represent the results of corporate strategic adjustment and listed firms in the China A stock are chosen as the samples. As empirical analysis reveals, there is a positive correlation between the organizational learning capacity from the top firms and the firm performance and a U-shaped relation between the learning capability from the previous best operational capacity vector and the firm performance. However, no significant correlation between the inertia control ability of the current operational capacity vector of the firms and their performance improvement can be observed. This study verifies that the issue of corporate competitiveness and performance can be investigated by utilizing the principles of competition in nature. Moreover, a firm can obtain a sustainable competitive advantage by improving its ability to learn from top firms in the industry.

  6. Embedding Knowledge Processes to Maintain Service Levels and Efficiency in a Growing Software Service Firm

    NARCIS (Netherlands)

    Oostdam, M.; Verburg, R.M.; Lobbezoo, M.

    2013-01-01

    Software service firms are challenged to maintain high service levels and to innovate at the same time. Therefore, valuable human resources need often to be balanced between innovation and operations related activities. In this paper we describe how such as a firm deals with these issues by

  7. Board national diversity and firm-level innovativeness within the European Union

    DEFF Research Database (Denmark)

    Habersetzer, Antoine; Makkonen, Teemu; Williams, Allan

    2017-01-01

    It has become increasingly commonplace for firms to have foreign-born persons in their board of directors. This has been frequently linked to increasing firm-level innovativeness. Surprisingly, there is no empirical evidence to corroborate or contradict this assumption. The analyses conducted her...

  8. 48 CFR 616.207 - Firm-fixed-price, level-of-effort term contracts.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Firm-fixed-price, level-of-effort term contracts. 616.207 Section 616.207 Federal Acquisition Regulations System DEPARTMENT OF STATE CONTRACTING METHODS AND CONTRACT TYPES TYPES OF CONTRACTS Fixed-Price Contracts 616.207 Firm-fixed-price...

  9. 48 CFR 16.207 - Firm-fixed-price, level-of-effort term contracts.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Firm-fixed-price, level-of-effort term contracts. 16.207 Section 16.207 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION CONTRACTING METHODS AND CONTRACT TYPES TYPES OF CONTRACTS Fixed-Price Contracts 16.207 Firm-fixed...

  10. The Great Trade Collapse and the Spanish Export Miracle: Firm-level Evidence from the Crisis

    DEFF Research Database (Denmark)

    Eppinger, Peter S.; Meythaler, Nicole; Sindlinger, Marc-Manuel

    resilient to the crisis than those firms that restricted their sales to the domestic market. Finally, in contrast to exporters, non-exporters experienced a significant deterioration in their total factor productivity, which led to an overall decline in the productivity of a significant number of industries......We provide novel evidence on the micro-structure of international trade during the 2008 financial crisis and subsequent global recession exploring a rich firm-level data set from Spain. The analysis is motivated by the surprisingly strong export performance of Spain in the aftermath of the great...... trade collapse (dubbed by some as the “Spanish export miracle”). The focus of our analysis is on changes at the extensive and intensive firm-level margins of trade, as well as on performance differences (jobs, productivity, and firm survival) across firms that differ in their export status. We find...

  11. Differing perspectives of major oil firms on future energy developments: An illustrative framework

    International Nuclear Information System (INIS)

    Chang Youngho; Yong Jiayun

    2007-01-01

    This study develops a framework to analyse the perspectives of major oil firms in terms of their perceptions of current energy developments and projections of future energy potentials, and illustrates their views on the possibility of a paradigm shift in fuel use. The three A's themes-availability of resource (AV), applicability of technology (AP) and acceptability by society (AC)-make up the analytical framework. Divergence in oil firms' behaviour and perspectives are captured by the 3-A triangle that illustrates how the four largest oil firms in the world balance their stakes among the three A's. ExxonMobil's position is markedly skewed towards the theme of AV, whilst BP has the most balanced approach among the four. Shell and Total both share a similarly shaped 3-A triangle with more stakes placed on the theme of AP. The results would imply that a paradigm shift in resource use or a full-scale transition to a backstop technology is unlikely in the coming decades

  12. The Impact of Financial Development on the Relationship between Trade Credit, Bank Credit and Firm Characteristics. A Study on Firm-Level Data from Six MENA Countries

    OpenAIRE

    Jézabel Couppey-Soubeyran; Jérôme Héricourt

    2013-01-01

    Using a database of more than 1,300 firms from six countries in the MENA region, we study the impact of financial development on the relationship between trade credit on the one hand and bank credit access and firm-level characteristics, especially financial health, on the other hand. Trade credit use increases with the difficulty for gaining access to bank credit, and indicators of the quality of the firm's financial structure negatively influence the use of trade credit. Additional investig...

  13. Worker-Level and Firm-Level Effects of a Wage Subsidy Program for Highly Educated Labor

    DEFF Research Database (Denmark)

    Kaiser, Ulrich; Kuhn, Johan Moritz

    and firms, we find that the program had positive effects on employment and wages the year individuals participate in the program. For wages, we also find positive and statistically significant effects for the two subsequent years. At the program participating firm level, we find statistically significant...

  14. Business firms in national and local society: international perspectives for analysis of companies

    Directory of Open Access Journals (Sweden)

    Paola Cappellin

    2009-10-01

    Full Text Available The reflections that this article provides are meant to develop a sociological analysis of businesses through a theory of embeddedness. We reject a mechanistic view of the way need and utility combine in the large Fordist firm, preferring to adopt the perspective that sees this type of organization as a complex historical construction (Granovetter e McGuire 1998, Mingione, 1999. For such purposes, our article reviews contributions of French and Italian literature which, as of the 1980s, has suggested the need to devote profound attention to the relationship between economy and society. In our conclusions, we present elements meant to bring these discussions up-to-date, particularly with regard to the dynamics of business firm and territory. We propose consideration of the limitations and possibilities of this literature, which through the concept of embeddedness has added historical dimensions to our understanding of economic phenomena. Keywords: companies, local development, economics and society, embeddedness.

  15. Job loss, firm-level heterogeneity and mortality: Evidence from administrative data.

    Science.gov (United States)

    Bloemen, Hans; Hochguertel, Stefan; Zweerink, Jochem

    2018-04-01

    This paper estimates the effect of job loss on mortality for older male workers with a strong labor force attachment. Using Dutch administrative data, we find that job loss due to firm closure increased the probability of death within five years by a sizable 0.60 percentage points. Importantly, this effect is estimated using a model that controls for firm-level worker characteristics, such as lagged firm-level annual average mortality rates. On the mechanism driving the effect of job loss on mortality, we provide evidence for an effect running through stress and changes in life style. Copyright © 2018 Elsevier B.V. All rights reserved.

  16. 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.

  17. Does money buy credit? Firm-level evidence on bribery and bank debt

    OpenAIRE

    Fungácová , Zuzana; Kochanova, Anna; Weill, Laurent

    2014-01-01

    This study examines how bribery influences bank debt ratios for a large sample of firms in 14 transition countries. We combine information on bribery practices from the BEEPS survey with firm-level accounting data from the Amadeus database. Bribery is measured by the frequency of extra unofficial payments to officials to “get things done”. We find that bribery is positively related to firms’ total bank debt ratios, which provides evidence that bribing bank officials facilitates firms’ access ...

  18. A Critical Review of the Literature on Firm-Level Theories on Ship Investment

    Directory of Open Access Journals (Sweden)

    Sinem Celik Girgin

    2018-01-01

    Full Text Available The maritime industry is one of those rare industries that are both highly international integrated to international trade and also highly capital intensive dependent on substantial investment amount. In the literature, ship investments have not been widely examined through the firm-level investment theories to explore the link between investment level and asset price valuation. The general trend in the literature of ship investments is to analyse the relationship among the shipping markets (newbuilding, second-hand, freight rate and scrap and their impact on asset price valuation, the timing of investments and market entry and exit conditions. In this paper, we extensively reviewed the literature of firm-level investment theories and ship investments. We showed that the application of firm-level investment theories to the ship investments is confined to the basic investment valuation models, such as Net Present Value and Real Option Analysis. Ship investments need to be examined by firm-level investment theories to define firm/industry value maximization level within the approach of the solid investment theories.

  19. Assessment of U.S. firm-level climate change performance and strategy

    International Nuclear Information System (INIS)

    Yu, Yu; Wang, Derek D.; Li, Shanling; Shi, Qinfen

    2016-01-01

    Climate change is becoming an increasingly critical concern for human society. While there has been a great deal of research on climate change performance at the country/region level, our research focuses on the study of firm-level environmental efficiency as a proxy for firms' climate change management. Using a unique data set on U.S. S&P 500 firms for the period 2012–2013 and DEA slack-based models, we obtain firms' environmental efficiencies in six sectors. The results show significant performance dispersions both across and within the sectors. We highlight each sector's pros and cons in the environmental performance and propose guidelines for policy makers to further improve climate change performance. We also evaluate firms' operational performance and propose a unified performance measure by integrating operational and environmental efficiencies. Overall, we find there is no significant relationship between operational and environmental efficiencies in any of the six industrial sectors under study. The unified performance measures are more driven by the environmental efficiency than the operational efficiency. - Highlights: •U.S. firms have large variations in climate performance across/within the sectors. •Relationship between operational and climate performances is not significant. •The operational and climate performances can be captured in a unified measure.

  20. Structural ambidexterity in NPD processes; A firm-level assessment of the impact of differentiated structures on innovation performance

    NARCIS (Netherlands)

    de Visser, Matthias; de Weerd-Nederhof, Petronella C.; Faems, D.L.M.; Song, Michael; Song, Michael; van Looy, Bart; van Looy, Bart; Visscher, Klaasjan

    2010-01-01

    Based on a survey study of 155 U.S. firms, we conducted a firm-level assessment of the impact of different kinds of structures (i.e., functional versus cross-functional) in different kinds of new product development (NPD) processes (i.e., incremental versus radical) on different kinds of firm

  1. The Difficulty in Following Project Schedule as a Key Project Management Challenge: Family Firm Perspective

    Directory of Open Access Journals (Sweden)

    Joanna SADKOWSKA

    2016-12-01

    Full Text Available The problem of how to manage projects successfully has been gaining growing interest for the last decades. The aforementioned is mainly caused by the fact that project management offers a wide range of methods and tools which, when properly used, can stimulate long-term growth of businesses. As a consequence it offers a particular development opportunity for family enterprises which, due to their specificity, have to overcome many difficulties. The primary objective of this paper is to examine whether family enterprises perceive, and to what extent, the factor of following project schedule as a difficulty in the area of project management. 154 Polish family firms representing different sectors were surveyed. The results of regression analysis show that family firms with global range of business activities, on the contrary to those with local or regional ones, do not find the factor of following project schedule as a difficulty. This results manly from the tools employed and the maturity level they have reached in project management. The findings support the current discussion on the specificity and uniqueness of family businesses in relationship to the knowledge area of project management. It also contributes to filling the gap on understanding the functioning of family firms in the emerging economies of Eastern Europe.

  2. The importance of specific human capital, planning and familiarity in Dutch small firm ownership transfers : a seller’s perspective

    NARCIS (Netherlands)

    Lex van Teeffelen; Martijn Driessen; Lorraine Uhlaner

    2011-01-01

    This study focuses on the transfer process and the importance of human capital and succession planning as firm resource from the seller’s perspective. It further differentiates amongst two types of human capital - specific and generic - to predict the transfer duration, obtained price and

  3. Direct and indirect effects of ownership on firm-level environmental performance

    Czech Academy of Sciences Publication Activity Database

    Earnhart, D.; Lízal, Lubomír

    2007-01-01

    Roč. 45, č. 4 (2007), s. 66-87 ISSN 0012-8775 Institutional research plan: CEZ:AV0Z70850503 Keywords : ownership structure * firm-level environmental performance * transition economy Subject RIV: AH - Economics Impact factor: 0.413, year: 2007

  4. The Effects of Internationalization on Innovation: Firm-Level Evidence for Transition Economies

    NARCIS (Netherlands)

    Martijn Boermans; Hein Roelfsema

    2012-01-01

    It is well-documented that international enterprises are more productive. Only few studies have explored the effect of internationalization on productivity and innovation at the firm-level. Using propensity score matching we analyze the causal effects of internationalization on innovation in 10

  5. Will Green CSR Enhance Innovation? A Perspective of Public Visibility and Firm Transparency.

    Science.gov (United States)

    Wu, Weiwei; Liu, Yexin; Chin, Tachia; Zhu, Wenzhong

    2018-02-04

    In response to the asking and requiring of stakeholders to be more environmentally responsible, firms must commit to green corporate social responsibility (CSR). Firms being green and responsible always can acquire intangible resources that are important for firm innovation. Given the scarcity of existing research addressing relevant issues in depth, this paper expands our understanding of green CSR by revealing its antecedent effects on firm innovation performance. We also include public visibility and firm transparency as contingency factors to explore the relationship between green CSR and firm innovation performance. Using data collected from publicly listed firms in China, we find that greater innovation performance is associated with an increase in firm green CSR, and the positive relationship between green CSR and innovation performance is moderated by public visibility and firm transparency. Based on the results, theoretical contributions and practical implications are outlined.

  6. Manufacturing enterprise’s logistics operational cost simulation and optimization from the perspective of inter-firm network

    Directory of Open Access Journals (Sweden)

    Chun Fu

    2015-05-01

    Full Text Available Purpose: By studying the case of a Changsha engineering machinery manufacturing firm, this paper aims to find out the optimization tactics to reduce enterprise’s logistics operational cost. Design/methodology/approach: This paper builds the structure model of manufacturing enterprise’s logistics operational costs from the perspective of inter-firm network and simulates the model based on system dynamics. Findings: It concludes that applying system dynamics in the research of manufacturing enterprise’s logistics cost control can better reflect the relationship of factors in the system. And the case firm can optimize the logistics costs by implement joint distribution. Research limitations/implications: This study still lacks comprehensive consideration about the variables quantities and quantitative of the control factors. In the future, we should strengthen the collection of data and information about the engineering manufacturing firms and improve the logistics operational cost model. Practical implications: This study puts forward some optimization tactics to reduce enterprise’s logistics operational cost. And it is of great significance for enterprise’s supply chain management optimization and logistics cost control. Originality/value: Differing from the existing literatures, this paper builds the structure model of manufacturing enterprise’s logistics operational costs from the perspective of inter-firm network and simulates the model based on system dynamics.

  7. Multiple levels in the organisation of innovation : project organization in single-firm projects and multi-firm projects

    NARCIS (Netherlands)

    Jaspers, F.P.H.; Ende, van den J.C.M.; Borgh, van der W.; Yin, Jie

    2008-01-01

    Studies about how the organization of new product (and new service) development projects (NPD) projects influences project performance typically investigate this in Single-firm projects, i.e. projects with high ownership integration. However, NPD projects are often performed by two or more

  8. A Critical Review of the Literature on Firm-Level Theories on Ship Investment

    OpenAIRE

    Sinem Celik Girgin; Thanasis Karlis; Hong-Oanh Nguyen

    2018-01-01

    The maritime industry is one of those rare industries that are both highly international integrated to international trade and also highly capital intensive dependent on substantial investment amount. In the literature, ship investments have not been widely examined through the firm-level investment theories to explore the link between investment level and asset price valuation. The general trend in the literature of ship investments is to analyse the relationship among the shipping markets (...

  9. The Firm as an Institution : Recent Evolution in the Contractual Perspective

    OpenAIRE

    Liliana BASILE; Paola CASAVOLA

    1994-01-01

    The aim of this paper is to clarify the connection between types of firms and types of assumptions about the information structure. Building on the role of information structure, notions of the firm as an organisation have been put forward which suggest that the firm can assume an alternative (to the market) coordinating role in conditions of contractual incompleteness. A comparison (and opposition) between two recent approaches to the theory of the firm as an organisation seems to suggest th...

  10. Corporate governance determinants: the firm-level evidence from transitional country, Ukraine

    Directory of Open Access Journals (Sweden)

    Vitaliy Zheka

    2007-01-01

    Full Text Available This paper attempts to empirically investigate the determinants of choices of corporate governance practices by corporations in a transition market. The study offers firm-level evidence benefiting from unique financial and governance data on Ukraine. In particular, we analyze the factors that affect overall level as well as individual elements of corporate governance. We consider such governance elements as shareholder rights, transparency, board independence, chairman independence and ownership. Overall we found that regulatory, industry and firm level factors are important, which is consistent with previous literature for other countries. Combining our results with the results of Zheka (20063 we conclude that it is possible for the government to implement and enforce better corporate governance practices in the economy that would make Ukrainian enterprises more attractive for foreign investment.

  11. The impact of gender diversity in the boardroom on firm performance: A South African perspective

    Directory of Open Access Journals (Sweden)

    Tshipa Jonty

    2015-01-01

    Full Text Available The study employs panel methodology and Ordinary Least Squares (OLS multiple regression to examine the impact of board gender diversity on firm performance for a sample of 137 Johannesburg Stock Exchange (JSE listed firms during the period 2002 and 2011. The results show that board gender diversity among South African firms have been improving substantially since 2002 when King II came into force. In 2002, the average South African board had only 4 per cent of women and by 2011, this had increased to 13 per cent. Notably, the findings also show that large South African firms have a greater representivity of women on their boards than small firms. By inference this could mean that gender diversity has a positive influence on firm value as findings further show that firm value in large firms is higher than that in small firms. This study contribute to the debate of whether board gender diversity influences firm value and whether the South African government should consider adopting quota legislation such as in Spain, Norway, The Netherlands and France. The findings suggest that there is evidence of a business case to advocate the implementation of quota legislation in South Africa. Empirical findings proceed to confirm that theories of corporate governance such as agency, resource-dependence, signalling and stakeholding surely provide some support to understanding the relationship between board gender diversity and firm performance.

  12. Effect of International Standards Certification on Firm-Level Exports: An Application of the Control Function Approach

    OpenAIRE

    Tsunehiro Otsuki

    2011-01-01

    Growing number of firms in developing countries have earned certifications such as International Standards Organization (ISO) as it enhances reputation of their company or brand and attract buyers particularly in export market. This study evaluates the effect of international standards certification on firm's export performance in Europe and Central Asia by applying the control function approach with endogenous treatment effect to firm-level data. Certification is found to increase export sha...

  13. Improving environmental performance through unit-level organizational citizenship behaviors for the environment: A capability perspective.

    Science.gov (United States)

    Alt, Elisa; Spitzeck, Heiko

    2016-11-01

    Organizational citizenship behaviors for the environment (OCBEs) are increasingly advocated as a means of complementing formal practices in improving environmental performance. Adopting a capability perspective, we propose that a firm's employee involvement capability translates into environmental performance through the manifestation of unit-level OCBEs, and that this relationship is amplified by a shared vision capability. In a cross-country and multi-industry sample of 170 firms, we find support for our hypotheses, shedding light on contextual determinants of OCBEs, and on how firms may engender a positive relationship between top-down environmental initiatives and bottom-up behaviors. Copyright © 2016 Elsevier Ltd. All rights reserved.

  14. Do Direct Foreign Investments Increase Efficiency Convergence at Firm Level? The Case of Vietnam, 2000-2011

    Directory of Open Access Journals (Sweden)

    Nguyen Khac Minh

    2014-07-01

    Full Text Available The objective of this study is to assess the extent to which  the effect of FDI on firms’  efficiency and efficiency convergence across industries in Vietnam. Dynamic input output tables are used to construct the linkages between domestic and foreign firms. Stochastic production frontier is used to estimate firms ‘efficiency with a large panel dataset covering manufacturing firms in Vietnam from 2000 to 2011. The analysis shows that, the impact of FDI on domestic firms ‘efficiency score and convergence at firms’ level through the horizontal, backward and supply backward channels are negative and different.

  15. The use of storytelling in quantitative research reports: A marketing research firm perspective

    OpenAIRE

    Vanessa Maritz; Daniel J. Petzer; Christine De Meyer

    2014-01-01

    Orientation: Actionable reporting ensures that a marketing research firm communicates with clients to achieve business impact as opposed to merely communicating data to clients. Storytelling communicates with impact as it focuses on creating engagement and inspiring action. Research purpose: This article investigates the use of storytelling as a tool for actionable reporting by South African marketing research firms Motivation for the study: Clients of marketing research firms often cr...

  16. Innovation in clean coal technologies. Empirical evidence from firm-level patent data

    Energy Technology Data Exchange (ETDEWEB)

    Kruse, Juergen [Koeln Univ. (Germany). Dept. of Economics; Koeln Univ. (Germany). Energiewirtschaftliches Inst.; Wetzel, Heike [Kassel Univ. (Germany). Inst. of Economics

    2016-02-15

    This article empirically analyzes supply-side and demand-side factors expected to a.ect innovation in clean coal technologies. Patent data from 93 national and international patent offices is used to construct new firm-level panel data on 3,648 clean coal innovators over the time period 1978 to 2009. The results indicate that on the supply-side a firm¡¯s history in clean coal patenting and overall propensity to patent positively a.ects clean coal innovation. On the demand-side we find strong evidence that environmental regulation of emissions, that is CO{sub 2}, NO{sub X} and SO{sub 2}, induces innovation in both efficiency improving combustion and after pollution control technologies.

  17. Measuring the Return on Information Technology: A Knowledge-Based Approach for Revenue Allocation at the Process and Firm Level

    National Research Council Canada - National Science Library

    Pavlou, Paul A; Housel, Thomas J; Rodgers, Waymond; Jansen, Erik

    2005-01-01

    ...., firm or process level). To address this issue, the study aims to develop a method for allocating the revenue and cost of IT initiatives at any level of analysis using a common unit of measurement...

  18. Market Orientation and Sources of Knowledge to Innovate in SMEs: A Firm Level Study

    Directory of Open Access Journals (Sweden)

    Simone Regina Didonet

    2016-10-01

    Full Text Available This work examines the relationship between the three market orientation (MO components, i.e. customer orientation, competitor orientation and inter-functional coordination, and the extension to which small and medium-sized enterprises (SMEs use different sources of knowledge to innovate. Based on a sample of 181 Chilean SMEs, a confirmatory factorial analysis (CFA was performed to analyze the relationship among constructs. The results show that the extension to which SMEs use different sources of knowledge to innovate depends on the interactions between MO components. This study addresses a gap in the literature, by linking and interrelating market orientation components to the innovation perspective in SMEs. Therefore, we provide insights into the role of each MO component in influencing the extension to which firms seek for and use different sources of knowledge to innovate and attempt to explain some literature inconsistencies on the theme.

  19. An Insight into Firm Perspective on the Use of Electronic Word-of-Mouth

    NARCIS (Netherlands)

    D.C. Nevels; G. Duysters

    2014-01-01

    The Internet has dramatically changed the business landscape and the way word-of-mouth spreads. The possibilities for small, Internet-depending firms to compete have improved. This study addresses the question how such firms in the Netherlands, Sweden, and Finland deal with word-of-mouth through the

  20. The use of storytelling in quantitative research reports: A marketing research firm perspective

    Directory of Open Access Journals (Sweden)

    Vanessa Maritz

    2014-07-01

    Research purpose: This article investigates the use of storytelling as a tool for actionable reporting by South African marketing research firms Motivation for the study: Clients of marketing research firms often criticise research reports as being too technical and lacking in strategic value. Storytelling is a reporting technique that can be used to develop actionable research and provide clients with more strategic value. Research design, approach and method: A total of 26 in-depth qualitative interviews were conducted with client service directors and managers of marketing research firms that deliver quantitative research reports to clients. Main findings: Results indicated that all marketing research firms but one use storytelling. Barriers that impede more regular use are inexperienced research executives and the time intensity associated with creating stories. Practical/managerial implications: Storytelling should be used by marketing research firms to provide clients with more actionable research. Contribution/value-add: The study provides marketing research firms in South Africa with recommendations as to how to implement storytelling as a reporting technique, which will add value to clients and enable marketing research firms to remain competitive and develop relationships with clients.

  1. Pilot Comparative Case Study on Eco-innovation Dynamics at firm level

    DEFF Research Database (Denmark)

    Yang, Yan; Du, Xiangyun; SHAO, Yunfei

    2010-01-01

    This paper pays special attention to eco-innovations dynamics at firm level. Triple helix twins are employed to disclose the complex collaborations within and across the case companies, as it provides us the possibilities of looking beyond the simpler, linear model of innovation and. Grundfos...... and environmental regulations. Dong Fang (China) is identified as a company at the very beginning of eco-innovation, as its compliance with environmental standards such as ISO 9001, ISO14001, OHSAS 18001 is absent at present; its collaborations with government and universities or research institutions...... helix twins and eco-innovation dynamics is addressed....

  2. IMPACT OF CORPORATE GOVERNANCE AND FIRM-LEVEL CONTROL VARIABLES ON DIVIDEND POLICY OF SERVICE TRADE SECTOR OF MALAYSIA

    Directory of Open Access Journals (Sweden)

    Agha Jahanzeb

    2016-09-01

    Full Text Available This paper empirically investigates the impact of corporate governance factors (i.e. board size, board independence and CEO ownership and firm-level control variables (i.e. firm size, firm growth and firm profitability on the dividend payout policy among the service sector companies of Malaysia that are listed on Bursa Malaysia. Ordinary least square model was used to estimate the results. Sample consisted of 113 service sector firms from the period of 2009 to 2013. The results show that the profitable companies with large boards and less growth tend to pay higher dividends. Findings can be interpreted as that the profitable companies are sharing their profits with their shareholders in terms of dividends to give positive message to the market.

  3. The effect of information technology investment on firm-level performance in the health care industry.

    Science.gov (United States)

    Thouin, Mark F; Hoffman, James J; Ford, Eric W

    2008-01-01

    The return on investment for information technology (IT) has been the subject of much debate throughout the history of management information systems research. Often referred to as the productivity paradox, increased IT investments have not been consistently associated with increased productivity. Understanding individual IT factors that directly contribute to business value should provide insight into the productivity paradox. The effects of 3 different firm-level IT characteristics on financial performance in the health care industry are studied. Specifically, the effects of IT budget, IT outsourcing, and the relative number of IT personnel on firm-level financial performance are analyzed. Regression analysis of archival survey data for 914 Integrated Healthcare Delivery Systems is performed. IT budgetary expenditures and the number of IT services outsourced are associated with increases in the profitability of Integrated Healthcare Delivery Systems, whereas increases in IT personnel are not significantly associated with increased profitability. Each one tenth of a percentage increase in IT expenditures is associated with approximately $100,000 in increased profit, and each additional IT service outsourced is associated with approximately $950,000 in increased profit for an average-sized Integrated Healthcare Delivery System. To increase profitability, IT administrators should increase IT budgetary expenditures along with IT outsourcing levels. IT administrators in the health care industry can use such findings during budgeting cycles to justify increased investments in IT personnel as being budget neutral while increasing organizational capacity.

  4. Complex Incremental Product Innovation in Established Service Firms: A Micro Institutional Perspective

    NARCIS (Netherlands)

    P.A.M. Vermeulen (Patrick); F.A.J. van den Bosch (Frans); H.W. Volberda (Henk)

    2006-01-01

    textabstractMany product innovation studies have described key determinants that should lead to successful incremental product innovation. Despite numerous studies suggesting how incremental product innovation should be successfully undertaken, many firms still struggle with this type of innovation.

  5. Complex Incremental Product Innovation in Established Service Firms: A Micro Institutional Perspective

    NARCIS (Netherlands)

    P.A.M. Vermeulen (Patrick); F.A.J. van den Bosch (Frans); H.W. Volberda (Henk)

    2007-01-01

    textabstractMany product innovation studies have described key determinants that should lead to successful incremental product innovation. Despite numerous studies suggesting how incremental product innovation should be successfully undertaken, many firms still struggle with this type of innovation.

  6. Risks and financing decisions in the energy sector: An empirical investigation using firm-level data

    International Nuclear Information System (INIS)

    Rashid, Abdul

    2013-01-01

    Using a sample of 102 UK energy firms over the period 1981–2009, this paper empirically examines the effects of uncertainty on firms' leverage decisions. The results indicate that both firms-specific and macroeconomic uncertainty have negative, sizeable, and statistically significant impacts on the UK energy sector firms' target leverage. The results also indicate that the profitability of energy firms plays an important role in uncertainty–leverage relationship by changing the (total) effect of uncertainty on leverage. While more profitable firms appear to reduce their leverage by a relatively large amount in response to increased macroeconomic uncertainty, they are less likely to be affected by firm-specific uncertainty. These results suggest that stability in macroeconomic conditions and business activity is important to the stability of the capital structure of firms in the energy sector which would in turn be conducive to stability in their investments and production. - Highlights: • I examine the effect of uncertainty on the UK energy firms' leverage decisions. • Both firm-specific and macroeconomic uncertainty have negative effects on leverage. • Firm profitability plays an important role in uncertainty–leverage relationships. • The total effect of uncertainty on leverage varies with changes in profitability

  7. New Approach to Remuneration Policy for Investment Firms: a Polish Capital Market Perspective

    Directory of Open Access Journals (Sweden)

    Szymon Okoń

    2012-03-01

    Full Text Available The experience of the recent financial crisis leads to reflections on the relevant mechanisms of risk reduction of an investment firms activity. Within the European Union, the Directive 2010/76/EU (CRD III has introduced new rules regarding the remuneration policy for investment firms. The main goal was to reduce the risk of investment firms’ activity. This is a prudential regulation. The purpose of this article is to evaluate, from the point of view of an investment firm, proposed by the EU legislator approach to remuneration policy aimed at reducing the risk of the operation of this type of financial institutions. The aim was to identify the key problems with which Polish investment firms may face in the future in connection with new remuneration policy rules. As far as the methodology is concerned, the author carried out in-depth and standardized interviews with the representatives of several investment firms in Poland. In addition, the method of observation has been applied. The results of the research demonstrates that the abovementioned regulations will have limited impact on reducing the risk of the activities of these financial institutions as well as their implementation will be difficult for them in practice.

  8. Power infrastructure quality and manufacturing productivity in Africa: A firm level analysis

    International Nuclear Information System (INIS)

    Moyo, Busani

    2013-01-01

    This study sought to examine the impact of the quality of power infrastructure on productivity in African manufacturing firms using data from the World Bank enterprise surveys. We measured power infrastructure quality using the number of hours per day without electricity and the percentage of output lost due to outages and found these indicators to be negative and significant determinants of productivity. These variables seem to be significant determinants in Uganda, Tanzania and Zambia as well as in the food and agriculture sector. To improve economic growth and encourage employment creation, governments in Africa have to come up with measures to improve the reliability of electricity infrastructure. - Highlights: • Power infrastructure quality indicators are found to have a negative and significant effect. • The power quality indicators have varied effects both at country and sector level. • Owning a generator minimises the negative impact of outages in Uganda, Tanzania and Mauritius. • Other controls like labour, capital, foreign ownership etc. have a positive and significant effect. • The firm age variable is insignificant suggesting that accumulated knowledge does not matter

  9. A Firm Level Study of Information Technology Productivity in Europe Using Financial and Market Based Measures

    Directory of Open Access Journals (Sweden)

    Alan Peslak

    2004-05-01

    Full Text Available For many years, business has invested significant resources in information technology, hardware, software, and manpower. The Productivity Paradox is the seeming lack of productivity gains despite the increased investment in IT. For many years the existence of a Productivity Paradox has been the subject of research interest. Conflicting results have been obtained from a variety of data sets. Until this time however there has been no study that has investigated European companies’ use of information technology and its impact on productivity. The objective of this study was to investigate information technology productivity with a new data set from a European published source, and measuring productivity using both market and financial based measures. Results of the study indicated that information technology did have a consistent positive impact on firm level productivity in Europe for the years 1996, 1997, and 1998. Both market and financial based productivity measures provided consistent positive significant returns with regard to IT productivity. The major contribution of the study is that it provides an analysis of the impact of European information technology on firm and economic productivity.

  10. An Empirical Analysis of Cash Flow and Investment Fluctuations Using Firm-Level Panel Data

    Directory of Open Access Journals (Sweden)

    Abdul Ghafar Ismail

    2005-01-01

    Full Text Available Since the pioneering work of Gurley and Shaw (1955, the attempt has been done to justify money as a primary focal point of macroeconomic theorizing. However, other researchers argue that variables such as financial development and indicators are also important to be linked with macroeconomic performance. Here, if money can be thought as means of production and consumer goods as the ultimate end toward which production is directed, and then capital also occupies a position that is both logically and temporarily intermediate between original means and ultimate ends. This temporarily intermediate status of capital is not in serious dispute, but its significance for macroeconomic theorizing is rarely recognized. The firms’ decision to acquire funds through debt and equity financings affects the capital structure, and, in the firm’s balance sheet, the impact of capital appears to influence the inventory investment. Hence, the significance of capital structure –induced inventory distortions in the context of firm-level is the basis for our article. The sample for our analysis is compiled from the balance sheets of listed syaria firms in the Kuala Lumpur Stock Exchange for the period 1995-2000.

  11. Determinants of investment decisions in a crisis: Perspective of Croatian small firms

    Directory of Open Access Journals (Sweden)

    Jelena Đurkin

    2015-01-01

    Full Text Available The aim of the paper is to determine the investment activity of small firms in Croatia during the crisis year 2012 and further analyse the effect of selected factors on capital investment decisions. For this purpose, an on-line survey of small businesses was conducted. The research sample consisted of small firms in Primorsko-Goranska County that earned the highest revenue in 2011, because it was assumed they would have greater investment potential in 2012. Research results show that almost half of the firms invested in new fixed assets in 2012. Their investment decisions were primarily motivated by mere "survival" purpose, since the investment activities were mostly oriented toward the replacement of worn-out assets.

  12. De-internationalization of small high technology firms: An international entrepreneurship perspective

    DEFF Research Database (Denmark)

    Turcan, Romeo V.

    This study explores the process of de-internationalisation in small high-technology firms. The key research questions are how and why these firms de-internationalise. Being positioned at the intersection of entrepreneurship and international business research paths, the study expressly investigates...... by reduction was employed extensively to advance middle-range theories. The study contributes to (i) international business research by developing a process model of de-internationalisation and defining its constructs; (ii) entrepreneurship research by redefining the entrepreneurial orientation construct...... whether de-internationalisation could be viewed as (i) an entrepreneurial activity; and/or (ii) an integral part of a small high-technology firms’ growth process. Driven by the nature of the research questions, a multiple-case study methodology was adopted for the purpose of theory building. Five firms...

  13. The marketing firm and consumer choice: implications of bilateral contingency for levels of analysis in organizational neuroscience.

    Science.gov (United States)

    Foxall, Gordon R

    2014-01-01

    The emergence of a conception of the marketing firm (Foxall, 1999a) conceived within behavioral psychology and based on a corresponding model of consumer choice, (Foxall, 1990/2004) permits an assessment of the levels of behavioral and organizational analysis amenable to neuroscientific examination. This paper explores the ways in which the bilateral contingencies that link the marketing firm with its consumerate allow appropriate levels of organizational neuroscientific analysis to be specified. Having described the concept of the marketing firm and the model of consumer behavior on which it is based, the paper analyzes bilateral contingencies at the levels of (i) market exchange, (ii) emotional reward, and (iii) neuroeconomics. Market exchange emerges as a level of analysis that lends itself predominantly to the explanation of firm-consumerate interactions in terms of the super-personal level of reinforcing and punishing contingencies: the marketing firm can be treated as a contextual or operant system in its own right. However, the emotional reward and neuroeconomic levels of analysis should be confined to the personal level of analysis represented by individual managers on the one hand and individual consumers on the other. This also entails a level of abstraction but it is one that can be satisfactorily handled in terms of the concept of bilateral contingency.

  14. R&D Cooperation Between Firms---A Perceived Transaction Cost Perspective

    OpenAIRE

    Klaus Brockhoff

    1992-01-01

    Transaction cost is considered as an explanatory variable for the choice between markets and various organizational arrangements for performing some predefined tasks, such as engaging in private R&D. With respect to R&D cooperation between firms, we show that the perception of high transaction cost is related to certain characteristics of the firm and to the type of R&D task. We also show a relationship between the perception of transaction cost and the perceived success of the cooperation. T...

  15. Positioning and Priorities of Growth Management in Construction Industrialization: Chinese Firm-Level Empirical Research

    Directory of Open Access Journals (Sweden)

    Jingxiao Zhang

    2017-06-01

    Full Text Available The purpose of this research is to quantitatively evaluate the growth phase, position, and priorities of the industrialization policy management of the construction industry at firm level. The goal is to integrate quantitative dynamics into the policy-making process for sustainable policy development in future China. This research proposes an integrated framework, including growth management model and industrial policy evaluation method, to identify the challenges of construction industrialization and policy management. The research applies the mixed system method, which includes entropy method and average score method, to analyze the growth stage and major impact indexes targeting 327 survey samples. The empirical results show that the proposed conceptual framework and policy evaluation method could effectively determine the growth position and directions of the construction industrialization. For verification purpose, the study uses the local industry data from Shaanxi Province, China. The calculation results substantiate that the construction industry is in the middle section of the third growth phase. The comparison of the results from statistical methods shows that the local construction industry still needs substantial effort in policy management to improve its sustainable industrialization level. As countermeasures, the policy priorities should concentrate on: (1 enhancing effective cooperation among universities, research institutions and enterprises; (2 improving actions towards technology transfer into productivity; and (3 encouraging market acceptance of construction industrialization. This research complements the existing literature of policy evaluation of construction industrialization. Moreover, it provides theoretical and operational steps on industry policy evaluation and growth management framework, with accurate and ample data analysis on firm-level survey. Researchers and policy makers can use this research for further

  16. Monopolistic Competition, International Trade and Firm Heterogeneity - a Life Cycle Perspective

    DEFF Research Database (Denmark)

    Hansen, Jørgen Drud; Kvedaras, Virmantas; Nielsen, Jørgen Ulff-Møller

    This paper presents a dynamic international trade model based on monopolistic competition, where observed intra-industry differences at a given point in time reflect different stages of the firm's life cycle. New product varieties of still higher quality enter the market every period rendering old...

  17. When does inward technology licensing facilitate firms' NPD performance? A contingency perspective

    DEFF Research Database (Denmark)

    Wang, Yuandi; Li-Ying, Jason

    2014-01-01

    Many firms find inward technology licensing (ITL), as a means to access external technological knowledge, an effective and relatively inexpensive way for new product development (NPD). However, although the literature has suggested some advantages and disadvantages of ITL with respect to NPD...

  18. The Effect of Training on Italian Firms' Productivity: Microeconomic and Macroeconomic Perspectives

    Science.gov (United States)

    Guerrazzi, Marco

    2016-01-01

    In this article, I explore the effect of training on the productivity of a sample of Italian firms and the impact of training on EU economic growth. Specifically, retrieving data from a survey performed by the Italian Institute for the Development of Vocational Training in 2009, I find that employer-sponsored training displays a positive and…

  19. Small Firm Adaptive Capability, Competitive Strategy and Performance Outcomes: Competing Mediation vs Moderation Perspectives

    OpenAIRE

    Chryssochoidis, George; Dousios, Dimitrios; Tzokas, Nikolaos

    2016-01-01

    In small firms, adaptive capability exercises a handling grip on competitive strategy for superior performance primarily acting as a mediator and may offset, through attenuation, the adverse impact of limited resources. Besides exercising a handling grip on competitive strategy adaptive capability is more important than competitive strategy per se for superior performance. Adaptive capability simultaneously undertakes additional secondary roles reinforcing innovation competitive strategy for ...

  20. An Integrated-Empirical Logistics Perspective on Supply Chain Innovation and Firm Performance

    OpenAIRE

    Santanu Mandal

    2015-01-01

    Supply chains need to innovate constantly for maintaining their position in the marketplace and also to fight uncertainties. Hence firms are focusing on strategies for developing supply chain innovation. The current investigation adds to this emerging regime through investigating the influence of logistics capabilities viz. demand management capability, supply management capability, information management capability and coordination capability on supply chain innovation through logistics inte...

  1. Firm internationalization from a network-centric complex-systems perspective

    DEFF Research Database (Denmark)

    Chandra, Yanto; Wilkinson, Ian F.

    2017-01-01

    firm internationalization behavior is impossible to predict, aggregate patterns are to some extent. We review existing research on the role of networks in the internationalization process and explain how theories of complexity apply. We also describe three ways in which we can build NCCSI models using...

  2. Antecedents of Business Level Strategies in Nigerian Agro-Based Firms

    Directory of Open Access Journals (Sweden)

    Ibidunni Ayodotun Stephen

    2014-09-01

    Full Text Available The purpose of this paper is to investigate the impact of antecedent factors on business level strategies of Nigerian agro-based firms. The study made use of survey method over one hundred and ninety-three respondents. Pearson’s correlation and regression analysis were used to analyze the data obtained. The existing relationship stemming from the results revealed that top management factor, organizational system, and departmental connectivity are important antecedent factors that determine the success or otherwise of strategic orientation dimensions. The study recommends that the calibre of the top management personnel and the internal cohesion between departments should be considered a critical variable in the adoption of particular orientation.

  3. Revisiting Office Rent Determinants : Development of the Istanbul Office Market in the Last Decade from Perspective of Real Estate Brokerage Firms

    OpenAIRE

    Dilek Pekdemir

    2014-01-01

    Many studies on the office market have been conducted for the last thirty years. Especially variables which are expected to affect office rents were examined for different cities. The extent of variables was used in these studies reflecting variations in locational and/or economical conditions of the different cities.It is aimed to examine the development of the Istanbul office market in the last decade from the perspective of brokerage firms. The perception of brokerage firms on the effectiv...

  4. Exports and Innovation in Emerging Economies : Firm-Level Evidence from South-Africa

    NARCIS (Netherlands)

    Vannoorenberghe, Gonzague

    2015-01-01

    Using a new dataset on the innovation and exports of 500 South African firms, this paper asks whether exports affect rm innovation in the context of an emerging economy. We use a range of particularly attractive features of the dataset. Firms not only report whether they innovated but describe their

  5. Flexible labor and innovation performance : Evidence from longitudinal firm-level data

    NARCIS (Netherlands)

    Zhou, H.; Dekker, R.; Kleinknecht, A.

    Firms with high shares of workers on fixed-term contracts tend to have higher sales of imitative new products but perform significantly worse on sales of innovative new products ("first on the market"). High functional flexibility in "insider-outsider" labor markets enhances a firm's new product

  6. Explaining the level of credit spreads: Option-implied jump risk premia in a firm value model

    NARCIS (Netherlands)

    Cremers, K.J.M.; Driessen, J.; Maenhout, P.

    2008-01-01

    We study whether option-implied jump risk premia can explain the high observed level of credit spreads. We use a structural jump-diffusion firm value model to assess the level of credit spreads generated by option-implied jump risk premia. Prices and returns of equity index and individual options

  7. The marketing firm and consumer choice: implications of bilateral contingency for levels of analysis in organizational neuroscience

    Directory of Open Access Journals (Sweden)

    Gordon Robert Foxall

    2014-07-01

    Full Text Available The emergence of a conception of the marketing firm (Foxall, 1999a conceived within behavioral psychology and based on a corresponding model of consumer choice, (Foxall, 1990/2004 permits an assessment of the levels of behavioral and organizational analysis amenable to neuroscientific examination. This paper explores the ways in which the bilateral contingencies that link the marketing firm with its consumerate allow appropriate levels of organizational neuroscientific analysis to be specified. Having described the concept of the marketing firm and the model of consumer behavior on which it is based, the paper analyzes bilateral contingencies at the levels of (i market exchange, (ii emotional reward, and (iii neuroeconomics. Market exchange emerges as a level of analysis that lends itself predominantly to the explanation of firm—consumerate interactions in terms of the super-personal level of reinforcing and punishing contingencies: the marketing firm can be treated as a contextual or operant system in its own right. However, the emotional reward and neuroeconomic levels of analysis should be confined to the personal level of analysis represented by individual managers on the one hand and individual consumers on the other. This also entails a level of abstraction but it is one that can be satisfactorily handled in terms of the concept of bilateral contingency.

  8. The marketing firm and consumer choice: implications of bilateral contingency for levels of analysis in organizational neuroscience

    Science.gov (United States)

    Foxall, Gordon R.

    2014-01-01

    The emergence of a conception of the marketing firm (Foxall, 1999a) conceived within behavioral psychology and based on a corresponding model of consumer choice, (Foxall, 1990/2004) permits an assessment of the levels of behavioral and organizational analysis amenable to neuroscientific examination. This paper explores the ways in which the bilateral contingencies that link the marketing firm with its consumerate allow appropriate levels of organizational neuroscientific analysis to be specified. Having described the concept of the marketing firm and the model of consumer behavior on which it is based, the paper analyzes bilateral contingencies at the levels of (i) market exchange, (ii) emotional reward, and (iii) neuroeconomics. Market exchange emerges as a level of analysis that lends itself predominantly to the explanation of firm—consumerate interactions in terms of the super-personal level of reinforcing and punishing contingencies: the marketing firm can be treated as a contextual or operant system in its own right. However, the emotional reward and neuroeconomic levels of analysis should be confined to the personal level of analysis represented by individual managers on the one hand and individual consumers on the other. This also entails a level of abstraction but it is one that can be satisfactorily handled in terms of the concept of bilateral contingency. PMID:25071506

  9. 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...

  10. A research on determination of input levels used in fair value measurement hierarchy by firms listed in Borsa Istanbul

    OpenAIRE

    Gokgoz, Ahmet; Senturk, Fatih

    2015-01-01

    With the coming into force of TFRS 13 Fair Value Measurement Standard, the inputs which firms use for determination of fair value measurement are classified into three levels and hierarchy of determination of fair value is constituted. This standard requires increasing level 1 inputs and decreasing level 3 inputs in determination of fair value. With this study fair value measurement levels (hierarchy) which are used in determination of fair value are described within the scope of TFRS 13 Fair...

  11. New technologies, workplace organisation and the age structure of the workforce: Firm-level evidence

    OpenAIRE

    Patrick Aubert; Eve Caroli; Muriel Roger

    2005-01-01

    This paper investigates the relationships between new technologies, innovative workplace practices and the age structure of the workforce in a sample of French manufacturing firms. We find evidence that the wage-bill share of older workers is lower in innovative firms and that the opposite holds for younger workers. This age bias affects both men and women. It is also evidenced within occupational groups, thus suggesting that skills do not completely protect workers against the labour-market ...

  12. 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.

  13. Construction cost impacts related to manpower, material, and equipment factors in contractor firms perspective

    Science.gov (United States)

    Husin, Saiful; Abdullah, Riza, Medyan; Afifuddin, Mochammad

    2017-11-01

    Risk can be defined as consequences which possible happened inscrutably. Although an activity has planned as good as possible, but it keep contains uncertainty. Implementation of construction project was encountering various risk impacts from a number of risk factors. This study was intended to analyze the impacts of construction cost to for contractor firms as construction project executor related to the factors of manpower, material and equipment. The study was using data obtained from questionnaires distributed to 15 large qualification contractor firms. The period of study classified into conflict period (2000-2004), post tsunami disaster rehabilitation and reconstruction period (2005-2009), and post rehabilitation and reconstruction period (2010-present). The statistical analysis of severity index and variance used to analyze the data. The three risk factors reviewed generally affected the cost in a medium impact. The high impact occurred in minor variables, which are `increase in material prices', `theft of materials', and `the fuel scarcity'. In overall, the three risk factors and the observed period contributed significant impact on construction costs.

  14. Sustainable Entrepreneurship in the Energy Sector: A Perspective from a Brazilian Power Utility Firm

    Directory of Open Access Journals (Sweden)

    Marcus Vinicius de Oliveira Brasil

    2013-12-01

    Full Text Available The key question in this article consists of identifying the conditions under which the social projects developed by the firm Alpha are really promoting the sustainable development in the state of Ceará, located in Northeast Brazil. The general goal is to discuss if the firm’s social projects are related to the sustainable corporate entrepreneurship (SCE. This paper intends to stimulate the scientific community to advance knowledge on entrepreneurial, innovation and sustainability. This case study focuses on four Alpha’s projects: Ecological Initiative, Efficient Exchange, Social Energy, and School of Efficient Paths. The thematic content’s analysis methodology was used in this article. The documental research served as primary data source and helped to better elucidate the studied object. The researcher obtained 12 questionnaires answered. It was found an agreement of respondents to the categories: values, transparency and governance, workforce, environment, suppliers, consumers and customers and community. For the theme government and society, the results showed a disagreement with the category and for the last theme, innovation, the respondents are indifferent. After lexical analysis of data the results confirm in accordance with state of art of literature the existence of triple bottom line in the social projects of Alpha, by the categories resulted (profit, planet, people from content’s analysis of open questions. Alpha is a strong example of social commitment with poverty and environment. In conclusion, the research confirms that the firm promotes sustainable entrepreneurship and innovativeness leading to sustainable development.

  15. The use of business risk audit perspectives by non-big 4 audit firms

    NARCIS (Netherlands)

    Buuren, van J.P.; Koch, C.K.; Nieuw Amerongen, van C.M. (Niels); Wright, A.M.

    2014-01-01

    This study investigates the role of business risk perspectives in the audit of smaller and medium-sized entities (SMEs) by small and medium-sized audit practices (SMPs). The research is important, since we have little knowledge of how SMPs utilize business risk factors, and there is a current debate

  16. Does Nature of Financial Institutions Matter to Firm Growth in Transition Economies?

    Directory of Open Access Journals (Sweden)

    Abubakr SAEED

    2009-05-01

    Full Text Available Drawing on firm-level data set on transition economies, this paper investigates the relationship between financial institutions and firm growth. The paper focuses in perspective of growth, how the impact of various sources of external finance varies across firm size. Primarily, it is shown a differential impact of institutions on firm growth, precisely, in terms of employment and sale, growth augments by equity market, local banks, foreign banks, state-owned banks, trade credit and leasing, while informal lending abates growth. In particular, the results suggest that local banks and trade credit improve sale growth of small and medium firms, while these financial institutions are insignificant for large firms. By contrast, state owned banks and informal institutions constrain employment growth of small firms. It is confirmed that irrespective of firm size lease financing exerts statistically significant positive impact on firm growth. Moreover, financial system differences across the regions play vital role in firm growth-finance relationship.

  17. Volatility of sales, expectation errors, and inventory investment : Firm level evidence

    NARCIS (Netherlands)

    Bo, H

    2001-01-01

    This paper tests whether demand uncertainty, which is measured by the volatility of sales, affects inventory investment based on the accelerator buffer stock inventory model. Using a panel of Dutch listed firms in the period 1984-1996, we find that the estimated coefficient of the speed parameter of

  18. Relational Capital Quality and Client Loyalty: Firm-Level Evidence from Pharmaceuticals, Pakistan

    Science.gov (United States)

    Mubarik, Shujaat; Chandran, V. G. R.; Devadason, Evelyn S.

    2016-01-01

    Purpose: This study aims to examine the influence of relational capital quality on client loyalty, comprising both behavioral and attitudinal, in the pharmaceutical industry of Pakistan. Design/methodology/approach: The partial least squares technique is used to test the relationship using a sample of 111 pharmaceutical firms. We applied a…

  19. Exuberance in China's renewable energy investment: Rationality, capital structure and implications with firm level evidence

    International Nuclear Information System (INIS)

    Zhang, Dayong; Cao, Hong; Zou, Peijiang

    2016-01-01

    The new century has witnessed phenomenal worldwide growth in renewable energy investments. China has been especially remarkable, surpassing both the US and the EU in 2013. Some recent facts, however, have raised the question of whether exuberant investment in China’s renewable energy sector is rational. This paper aims to contribute to the literature and to the debate in two ways. First, it tests the over-investment hypothesis based on the main stream finance methodology; second, it analyzes the role of capital structure in the performance of China's renewable energy firms. Empirical results show that overinvestment in the renewable energy sector exists. The problem is more significant in the biomass and wind sector. Capital structure is found to be more important to downstream firms, indicating that policy makers may provide support that enables these firms to finance their investments through corporate bonds, commercial credit, or long-terms debts. - Highlights: •We test the over-investment hypothesis of renewable energy firms in China. •The role of capital structure is also empirically investigated. •We find irrational investment and confirm the role of financing structure. •The results are sensitive to the main business sectors and industrial line.

  20. Flexible labor and innovation performance : Evidence from longitudinal firm-level data

    NARCIS (Netherlands)

    Kleinknecht, A.; Dekker, R.; Zhou, H.

    2009-01-01

    Firms with high shares of workers on fixed-term contracts have significantly higher sales of imitative new products but perform significantly worse on sales of innovative new products (“first on the market”). High functional flexibility in “insider-outsider” labor markets enhances a firm’s new

  1. Flexible labor and innovation performance : Evidence from longitudinal firm-level data

    NARCIS (Netherlands)

    Dekker, R; Kleinknecht, A.H.; Zhou, H

    2010-01-01

    Firms with high shares of workers on fixed-term contracts have significantly higher sales of imitative new products but perform significantly worse on sales of innovative new products (“first on the market”). High functional flexibility in “insider-outsider” labor markets enhances a firm’s new

  2. The relationship between human resource investments and organizational performance: a firm-level examination of equilibrium theory.

    Science.gov (United States)

    Subramony, Mahesh; Krause, Nicole; Norton, Jacqueline; Burns, Gary N

    2008-07-01

    It is commonly believed that human resource investments can yield positive performance-related outcomes for organizations. Utilizing the theory of organizational equilibrium (H. A. Simon, D. W. Smithburg, & V. A. Thompson, 1950; J. G. March & H. A. Simon, 1958), the authors proposed that organizational inducements in the form of competitive pay will lead to 2 firm-level performance outcomes--labor productivity and customer satisfaction--and that financially successful organizations would be more likely to provide these inducements to their employees. To test their hypotheses, the authors gathered employee-survey and objective performance data from a sample of 126 large publicly traded U.S. organizations over a period of 3 years. Results indicated that (a) firm-level financial performance (net income) predicted employees' shared perceptions of competitive pay, (b) shared pay perceptions predicted future labor productivity, and (c) the relationship between shared pay perceptions and customer satisfaction was fully mediated by employee morale.

  3. Firm-Level Productivity and Management Influence: A Comparison of U.S. and Japanese Automobile Producers

    OpenAIRE

    Marvin B. Lieberman; Lawrence J. Lau; Mark D. Williams

    1990-01-01

    This study compares the productivity of six major US and Japanese motor vehicle manufacturers---General Motors, Ford, Chrysler, Toyota, Nissan and Mazda---from the early 1950's through 1987. Techniques of productivity measurement, conventionally applied at the level of industries or national economies, are adapted for the analysis of individual firms. Several potential determinants of growth in productivity are evaluated, including economies of scale, adoption of "just-in-time" manufacturing,...

  4. Effects of RoHs and REACH regulations on firm-level production and export, and the role of global value chains : the cases of Malaysia and Vietnam

    OpenAIRE

    Otsuki, Tsunehiro; Honda, Keiichiro; Michida, Etsuyo; Nabeshima, Kaoru; Ueki, Yasushi

    2015-01-01

    This paper uses firm-level data to examine the impact of foreign chemical safety regulations such as RoHS and REACH on the production costs and export performance of firms in Malaysia and Vietnam. This paper also investigates the role of global value chains in enhancing the likelihood that a firm complies with RoHS and REACH. We find that in addition to the initial setup costs for compliance, EU RoHS (REACH) implementation imposes on firms additional variable production costs by requiring add...

  5. Public support to firm level innovation: an evaluation of the FONTEC Program

    Directory of Open Access Journals (Sweden)

    Alessandro Maffioli

    2012-07-01

    Full Text Available Os governos latino-americanos recorrem frequentemente aos Fundos de Desenvolvimento Tecnológico (FDT para apoiar financeiramente as atividades inovadoras das empresas. Neste estudo analisamos a eficácia do um FDT chileno, o programa FONTEC. Constatamos que os subsídios do FONTEC provocaram um aumento dos investimentos inovadores das empresas em ativos intangíveis (principalmente P&D, além de melhorarem as articulações entre atores no sistema de inovação. Entretanto, embora não tenhamos detectado indícios de crowding out (inibição, tampouco encontramos quaisquer evidências de aumento do financiamento privado da inovação devido aos subsídios (crowding in. Em termos de adicionalidade de resultados (output additionality, o FONTEC de fato aumentou a geração de emprego e a produtividade das empresas beneficiárias. As conclusões quanto a habilidades foram mais mistas, mas isso pode ter sido afetado pela baixa qualidade da variável habilidades na enquete.Latin American Governments have frequently adopted Technology Development Funds (TDF to provide financial support for innovation activities of firms. In this paper, we analyzed the effectiveness of a Chilean TDF, the FONTEC program. We found that FONTEC’s subsidies increased firm innovation investments in intangible assets (in particular R&D and they also improved the linkages among actors in the innovation system. However, although we did not find any evidence of crowding-out effects, neither did we find any evidence of the leveraging of private financing for innovation (crowding-in. In terms of output additionality, FONTEC did significantly increase the employment and productivity of beneficiary firms. The findings with regards to skills are more mixed, but this could be affected by the poor quality of the skills variable in the survey.

  6. To Trade or Not to Trade: Firm-Level Analysis of Emissions Trading in Santiago, Chile

    International Nuclear Information System (INIS)

    Coria, Jessica; Loefgren, Aasa; Sterner, Thomas

    2009-01-01

    Whether tradable permits are appropriate for use in transition and developing economies - given special social and cultural circumstances, such as the lack of institutions and lack of expertise with market-based policies - is much debated. We conducted interviews and surveyed a sample of firms subject to emissions trading programs in Santiago, Chile, one of the first cities outside the OECD that has implemented such trading. The information gathered allow us to study what factors affect the performance of the trading programs in practice and the challenges and advantages of applying tradable permits in less developed countries

  7. Abatement Costs vs. Compliance Costs in Multi-Period Emissions Trading - The Firms' Perspective

    OpenAIRE

    Bode, Sven

    2003-01-01

    Greenhouse gas emission trading has become more and more important in the context of climate change. Recently, a discussion on trading on entity (i.e. company) level has started. Emitters likely to be obliged to participate have argued for an initial allocation of the emission rights free of charge. I analyse the implication of such an allocation based on historical emissions and on benchmarks in multi-period emission trading. Different allocation rules for successive periods are applied, nam...

  8. 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 ...

  9. Exploiting Managerial Capability for Innovation in a Micro-Firm Context: New and Emerging Perspectives within the Irish Hotel Industry

    Science.gov (United States)

    Kearney, Arthur; Harrington, Denis; Kelliher, Felicity

    2014-01-01

    Purpose: The paper has been developed from a critical review of available literature drawn from the micro firm, managerial capability and innovation management fields. The paper aims to address these issues. Design/methodology/approach: The paper has been developed from a critical review of available literature drawn from the micro firm,…

  10. Electricity reforms and firm level responses: changing ownership, fuel choices, and technology decisions

    International Nuclear Information System (INIS)

    Shukla, P.R.; Nag, Tirthankar; Biswas, Debashish

    2005-01-01

    This paper examines how electricity reforms in India managed to influence the responses of generating firms. Indian electricity reforms have federal and state character. This paper utilises an extensive survey of generation units in Gujarat State. The findings suggest that reforms have created heterogeneous ownership of generation units. The fuel-mix and technology choices of new owners differ from pre-reform pattern followed by state-owned utilities. The new owners prefer natural gas, sourced technologies internationally, and chosen unit sizes that follow market dynamics. Consequently, the operational performance of power plants has improved. This paper quantifies energy efficiency and carbon intensity baselines, projects their trends, and delineates the contribution of reforms for the state. In generalisation, this paper argues that energy and cost efficiency of power plants across different states shows secular improvements under the reforms, though it cautions that environmental performance would not show such uniformly improving trends. (Author)

  11. Firm-level determinants of energy and carbon intensity in China

    International Nuclear Information System (INIS)

    Cao, Jing; Karplus, Valerie J.

    2014-01-01

    In recent years, China's leaders have sought to coordinate official energy intensity reduction targets with new targets for carbon dioxide (CO 2 ) intensity reduction. The Eleventh Five-Year Plan (2006–2010) included for the first time a binding target for energy intensity, while a binding target for CO 2 intensity was included later in the Twelfth Five-Year Plan (2011–2015). Using panel data for a sample of industrial firms in China covering 2005 to 2009, we investigate the drivers of energy intensity reduction (measured in terms of direct primary energy use and electricity use) and associated CO 2 intensity reduction. Rising electricity prices were associated with decreases in electricity intensity and increases in primary energy intensity, consistent with a substitution effect. Overall, we find that energy intensity reduction by industrial firms during the Eleventh Five-Year Plan translated into more than proportional CO 2 intensity reduction because reducing coal use—in direct industrial use as well as in the power sector—was a dominant abatement strategy. If similar dynamics characterize the Twelfth Five-Year Plan (2011–2015), the national 17 percent CO 2 intensity reduction target may not be difficult to meet—and the 16 percent energy intensity reduction target may result in significantly greater CO 2 intensity reduction. - Highlights: • We describe China's Eleventh Five-Year Plan energy policies. • We examine the drivers of energy, electricity and carbon intensity reduction. • Higher electricity prices correlated with reductions in industrial electricity intensity. • Energy intensity reduction efforts were effective at reducing carbon intensity

  12. The Impact Of Country-Level vs Firm-Level Factors On The Effectiveness Of IFRS Adoption: The Case Of European Union

    OpenAIRE

    Kanogporn Narktabtee; Suntaree Patpanichchot

    2011-01-01

    The mandatory adoption of IFRS has been encouraged worldwide, with the objective to enhance the quality of accounting information. However, this effort is challenged by the argument that several factors affecting financial reporting incentives still vary across countries. Also, Gaio (2010) indicates that firm-level factors also have significant explanatory power on earning quality. Therefore, it is doubtful whether the mandatory adoption of IFRS can always lead to better quality of accounting...

  13. Firm-level Resource Allocation to Information Security in the Presence of Financial Distress

    OpenAIRE

    Bin Srinidhi; Jia Yan; Giri Kumar Tayi

    2008-01-01

    In this paper, we adopt an organizational perspective to the management of information security and analyze in a multi-period context how an organization should allocate its internal cash flows and available external funds to revenuegenerating (productive) and security assuring (protective) processes in the presence of security breach, borrowing and financial distress costs. We show analytically and illustrate numerically that the capital stock accumulation is lower and allocations to securit...

  14. Firm Readiness Level for Innovation Projects: A New Decision-Making Tool for Innovation Managers

    Directory of Open Access Journals (Sweden)

    Daniel Galvez

    2018-03-01

    Full Text Available Innovation projects represent a major challenge for business managers due to their associated uncertainty degree. The already existing methodologies to support the innovation projects are aimed at piloting them and establishing the management stages in a flexible and agile way during their deployment. This paper proposes a complementary ex-ante methodology that seeks to aid the decision-making of companies to choose whether or not to launch a potential innovation project. This methodology evaluates to what extent the technological system of the company has the minimum required maturity degree of competencies to successfully achieve the innovation project. Thus, in first instance, an innovation project is characterized according to its novelty degree; both inside the company and in its environment. Subsequently, according to the previous characterization, the future project will have an impact on the technological system of the company. The capabilities of the firm are represented by a set of good practices associated with the innovation projects’ management that the company is able to deploy. Finally, the minimum maturity degree required by a particular project of these practices is determined. Then, the gap between the maturity requirement profile and the current profile of the company is established enabling to decide on the implementation of the project or not.

  15. Formation of biotechnology firms in the Greater Seattle region: an empirical investigation of entrepreneurial, financial, and educational perspectives

    OpenAIRE

    P Haug

    1995-01-01

    The biotechnology sector is a revolutionary industrial sector and promises significant innovations in medicine, veterinary care, plant agriculture, food processing, and environmental industries. Within the United States, biotechnology firms have generally agglomerated in existing regional high-technology complexes. In this paper empirical evidence is presented on the formation, evolution, financial sources, and educational relationships of thirty-three commercial biotechnology firms in the Gr...

  16. Impact of green supply chain management practices on firms' performance: an empirical study from the perspective of Pakistan.

    Science.gov (United States)

    Khan, Syed Abdul Rehman; Qianli, Dong

    2017-07-01

    This article investigates the impact of five determinants of the green supply chain practices on organizational performance in the context of Pakistan manufacturing firms. A sample of 218 firms was collected from the manufacturing industry. The green supply chain practices were measured through five independent variables including green manufacturing, green purchasing, green information systems, cooperation with customers, and eco-design. By using exploratory factor and simultaneous regression analysis, the results indicate that except green purchasing, rests of the four independent variables have been found statistically significant to predict organizational performance. However, the eco-design of green practices followed by green information systems has revealed the greatest impact on organizational performance. Therefore, the managers of the manufacturing firms should not only implement eco-design in their supply chain but also concentrate on proper monitoring and implementation of green information systems to increase their firms' performance. A main contribution of this research from theoretical side is that it is possible to notice a negative effect of "green purchasing" towards organizational performance particularly in the scenario of Pakistan manufacturing industry. Another valuable result is that green purchasing is an important antecedent of firms economic performance in the US manufacturing firms (Green et al. 2012), although not significantly related to organizational performance in our study. In addition, we also discussed research limitations, areas for future research, and implications for practitioners.

  17. 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....

  18. Does firm performance affect board independence?

    Directory of Open Access Journals (Sweden)

    Yi Wang

    2010-07-01

    Full Text Available This paper seeks to shed some light on the antecedents of board independence. Specifically, it attempts to test the conceptual frameworks which make different predictions about the effect of firm performance on the level of board independence. The results provide support for the perspective that appointing more independent members to the boards may merely represent firms’ attempts to comply with institutional pressures. It is found that higher blockholder shareholdings lead to lower independence on the board, and audit and remuneration committees. Moreover, larger firms have relatively more independent directors sitting on nomination and remuneration committees.

  19. Hard and soft locational factors, innovativeness and firm performance: an empirical test of Porter's Diamond model at the micro-level

    OpenAIRE

    Eickelpasch, Alexander; Lejpras, Anna; Stephan, Andreas

    2007-01-01

    This paper investigates predictions of Porter's Diamond model regarding the impact of locational factors on innovativeness and performance at the firm level. We formulate a structural equation model based on the relationships between locational conditions, e.g., transportation infrastructure, proximity to universities and research institutes, qualified labour, on the one hand, and innovativeness measured by new product or process development, number of patents, and firm performance in terms o...

  20. Evaluation of logistic service level of an automotive parts distribution firm

    Directory of Open Access Journals (Sweden)

    Fábio Germano Cardoso

    2014-11-01

    Full Text Available The stock management theories have a mathematical and statistical trend, usually failing in exposing the business side of decisions regarding inventory costs and the related service levels. The article tests the theory of defining the service level by building the profit mathematical model, using for such some available historical data. With this theory it is possible to find the optimal service level by deriving the profit curve and equaling the marginal profit to zero. The research is characterized as a case research of an auto parts distribution company. The calculated optimal service level was compared to the data available from the company. The results of such analysis revealed the fact that only the theory of calculating the optimal service level through the profit curve derivation is not sufficient to explain how the company defines which service level is going to be used.

  1. The impact of decentralised control on firm-level inventory: evidence from the automotive industry

    NARCIS (Netherlands)

    de Leeuw, S.L.J.M.; Holweg, M.; Williams, G.

    2011-01-01

    Purpose: The purpose of this paper is to investigate the effect of decentralised control on finished goods inventory levels in a distribution system, and to identify the factors that determine the overall inventory level. Design/methodology/approach: The authors' study is based on a mixed method

  2. The Impacts of Different Expansion Modes on Performance of Small Solar Energy Firms: Perspectives of Absorptive Capacity

    Directory of Open Access Journals (Sweden)

    Hsing Hung Chen

    2013-01-01

    Full Text Available The characteristics of firm’s expansion by differentiated products and diversified products are quite different. However, the study employing absorptive capacity to examine the impacts of different modes of expansion on performance of small solar energy firms has never been discussed before. Then, a conceptual model to analyze the tension between strategies and corporate performance is proposed to filling the vacancy. After practical investigation, the results show that stronger organizational institutions help small solar energy firms expanded by differentiated products increase consistency between strategies and corporate performance; oppositely, stronger working attitudes with weak management controls help small solar energy firms expanded by diversified products reduce variance between strategies and corporate performance.

  3. THE EFFECTS OF STOCK OPTION COMPENSATION ONMANAGERIAL RISK TAKING BEHAVIOR AND FIRM FINANCIALPERFORMANCETHE GLOBAL FINANCIAL CRISIS FROM ADIFFERENT PERSPECTIVE

    Directory of Open Access Journals (Sweden)

    Guler Aras

    2012-07-01

    Full Text Available The aim of this study is to figure out whether managerial risk taking behaviourand firm financial performance is effected by stock option compensation.Inliterature stock optioncompensationismentionedasa meansto solve agencyproblems. It is analysed how stock option compensation aligns theshareholders’andmanagers’ interestsand its effects on firm financialperformance. Additionally, it isinvestigatedwhether this effecthas a link to theglobal financial crisis which hasobviously related to the managers’extreme riskseeking behaviourespecially in financial sector. Inthis study, 189 firms fromS P index are analysedutilizingthe panel dataanalysismethod between years1998-2009. Additionally, regression method is used to measureeach year. Thedata set is grouped as financial and non financial sector tobetterpresent theeffects of global financial crisis.According to the results of this study, stockoption compensation is positively related to investment magnitudes which aretaken as indicators of risk taking behavior.On the other hand, it is negativelyrelated to firm financial performance.According to the results of yearlycomparison, in financial sector the invesment magnitudes are bigger than the nonfinancial sector just two years before the financial crisis and net cash flow fromthe investing activities is significantly negative when compared with non financialsector.Therefore,it is aimed to findoutthe relation between the extreme riskseeking behaviorbefore the global financial crisisand the incentive compensationstructures.

  4. From the financial crisis to the real economy: using firm-level data to identify transmission channels

    NARCIS (Netherlands)

    Claessens, C.A.M.F.; Tong, H.; Wei, S-J.

    2012-01-01

    Using accounting data for 7722 non-financial firms in 42 countries, we examine how the 2007-2009 crisis affected firm performance and how various linkages propagated shocks across borders. We isolate and compare effects from changes in business cycle, international trade, and external financing

  5. Relationship Between Learning Orientation And Business Performance And The Moderating Effect Of Competitive Advantage: An Accounting Services Firms Perspective

    OpenAIRE

    Louis Martinette; Alice Obenchain-Leeson; Gladys Gomez; Jessica Webb

    2014-01-01

    This study examines the influence of learning orientation on business performance (achievement of sales and profit objectives) in the context of pure service, specifically that of public accounting services firms. The conceptual framework used in this research has been drawn from marketing, finance, and organizational behavior theory. Specifically, relationships related to learning orientation, sources of competitive advantage, and business performance have been identified. This research ...

  6. A Quantal Response Statistical Equilibrium Model of Induced Technical Change in an Interactive Factor Market: Firm-Level Evidence in the EU Economies

    Directory of Open Access Journals (Sweden)

    Jangho Yang

    2018-02-01

    Full Text Available This paper studies the pattern of technical change at the firm level by applying and extending the Quantal Response Statistical Equilibrium model (QRSE. The model assumes that a large number of cost minimizing firms decide whether to adopt a new technology based on the potential rate of cost reduction. The firm in the model is assumed to have a limited capacity to process market signals so there is a positive degree of uncertainty in adopting a new technology. The adoption decision by the firm, in turn, makes an impact on the whole market through changes in the factor-price ratio. The equilibrium distribution of the model is a unimodal probability distribution with four parameters, which is qualitatively different from the Walrasian notion of equilibrium in so far as the state of equilibrium is not a single state but a probability distribution of multiple states. This paper applies Bayesian inference to estimate the unknown parameters of the model using the firm-level data of seven advanced OECD countries over eight years and shows that the mentioned equilibrium distribution from the model can satisfactorily recover the observed pattern of technical change.

  7. Entrepreneurial orientation and corporate governance structures at the firm level in the South African oil and gas industry

    Directory of Open Access Journals (Sweden)

    Vincent B. Molokwu

    2013-03-01

    Full Text Available Orientation: Corporate governance systems (CGS have been observed as one of the most important structures and mechanisms that regulate the relationships between executives and shareholders. By having well-defined and established CGS, company board members and executives are able to shape company vision and increase managerial commitment towards formulating strategies that espouse an entrepreneurial orientation (EO. Firms with high levels of EO tend to be innovative and encourage creative initiatives in new products and technology developments. Research purpose: In an emerging economy such as South Africa, one of the primary goals of an organisation is growth and good governance, which can be achieved through wellgoverned structures and continuous innovation in the face of challenges. This study identified potential links between the multidimensional constructs of CGS and EO at the firm level in the South African oil and gas industry. Motivation for the study: One of the greatest challenges faced by organisations when implementing CGS is to ensure compliance. Research design, approach and method: Board members and senior decision-makers were surveyed in the South African oil and gas industry, using a structured questionnaire. A series of correlational analyses were used to determine the strength of relationships between the dimensions of EO and CGS. Main findings: By drawing extensively on existing theory on EO, this study found that the different dimensions of CGS have a significant and positive relationship with each of the EO dimensions – innovation, risk-taking and proactiveness. Practical/managerial implications: Corporate boards supportive of entrepreneurship must provide appropriate reward systems, top management support, explicit goals and appropriate organisational values which signal to employees that entrepreneurial behaviour action is desirable. Practitioners should scrutinise their governance structures in their organisations to

  8. Entrepreneurial orientation and corporate governance structures at the firm level in the South African oil and gas industry

    Directory of Open Access Journals (Sweden)

    Vincent B. Molokwu

    2013-03-01

    Full Text Available Orientation: Corporate governance systems (CGS have been observed as one of the most important structures and mechanisms that regulate the relationships between executives and shareholders. By having well-defined and established CGS, company board members and executives are able to shape company vision and increase managerial commitment towards formulating strategies that espouse an entrepreneurial orientation (EO. Firms with high levels of EO tend to be innovative and encourage creative initiatives in new products and technology developments.Research purpose: In an emerging economy such as South Africa, one of the primary goals of an organisation is growth and good governance, which can be achieved through wellgoverned structures and continuous innovation in the face of challenges. This study identified potential links between the multidimensional constructs of CGS and EO at the firm level in the South African oil and gas industry.Motivation for the study: One of the greatest challenges faced by organisations when implementing CGS is to ensure compliance.Research design, approach and method: Board members and senior decision-makers were surveyed in the South African oil and gas industry, using a structured questionnaire. A series of correlational analyses were used to determine the strength of relationships between the dimensions of EO and CGS.Main findings: By drawing extensively on existing theory on EO, this study found that the different dimensions of CGS have a significant and positive relationship with each of the EO dimensions – innovation, risk-taking and proactiveness.Practical/managerial implications: Corporate boards supportive of entrepreneurship must provide appropriate reward systems, top management support, explicit goals and appropriate organisational values which signal to employees that entrepreneurial behaviour action is desirable. Practitioners should scrutinise their governance structures in their organisations to ensure

  9. Worker-level and Firm-level Effects of a Wage Subsidy Program for Highly Educated Labor

    DEFF Research Database (Denmark)

    Kaiser, Ulrich; Kuhn, Johan Moritz

    2016-01-01

    and annual earnings during program participation while there are no positive effects for the years after program expiration. At the employer-level, we find statistically significant effects on the number of highly educated employees for both the period of program participation and the subsequent time period...

  10. 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

  11. 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....

  12. Components of identity and the family firm : An exploratory study of influences on the micro-process of strategy and firm level outcomes

    OpenAIRE

    Raffelsberger, Hannah; Hällbom, Maria

    2009-01-01

    Problem: There is a significant lack of research within the family business area which focuses on the micro-processes of strategy. Johnson, Melin and Whittington (2003) stated that while the field of strategy has traditionally concentrated on the macro-level of organizations, it needs now to attend to much more micro-level phenomenon. Furthermore, there is a general lack of research within the family business area in regards to strategy processes due to "the family business definition dilemma...

  13. 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...

  14. Impact of firm-level factors and market entry mode on performance: A study of service MNCs in an emerging economy

    Directory of Open Access Journals (Sweden)

    George Acheampong

    2012-04-01

    Full Text Available The study examined the market entry strategies of multinational services companies into Ghana’s service sector and the linkages to firm level performance after entry. Literature was reviewed on market entry strategies, internationalisation, globalisation of service firms and resource-based theory. The study adopted a combination of both quantitative and qualitative research approaches in this study. The qualitative approach was for deeper enquiry and quantitative for empirical testing. The study found that firm specific factors affect the market entry strategy while the entry strategy also affects performance after it enters the market. Home country factors and the features of services are also seen to moderate on the effects mentioned. Respondents also indicated that the features of services were an industry wide issue not so much consideration is given to it.

  15. 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...

  16. Understanding the Morphology in the Form of Business Expansion: Perspective of Small Tourism Firm in Coastal Resort Destination

    Directory of Open Access Journals (Sweden)

    Muhammad Hakimi Mohd Hussain

    2015-11-01

    Full Text Available Resort morphology literature can be traced back since 1930s and most cases referring to the coast of Europe and United State. In 1970s, it begins to give emphasis on aspects such as land use pattern, infrastructure, Central Business District, Recreational Business District and impact studies. The literature expands to the aspects of socioeconomic, hotel development and resort lifecycle in the 1980s. Later in 1990s, it was extended to politic and investment, tourist behavior, transportation, Tourism Business District and environmental management. Following 2000s, the discussion move into change in land use intensity and restructuring resort strategies. All these aspects are still relevant in the existing literature today. However, it was argued that existing issue  from these literatures cannot escape from too much emphasis on the physical aspects. Limited study given to the aspect of non-physical than theoretical components of space management for physical and strategic planning purposes. For example, the aspects of business expansion and entrepreneur growth, and as to how this is able to influence resort morphology. The Small tourism firm manages to sustain their present from generation to generation with increasing skills relevant to financial, personal attitude, business resources and networking, and abilities in terms of operational, managerial and strategic. Therefore, the characteristic of resort morphology should be seen in a different context in which the competitiveness and survivability of these small tourism firms is vital to explore.

  17. Risk-taking behavior in private family firms: the role of the non-family CEO

    OpenAIRE

    Huybrechts, Jolien; Voordeckers, Wim; Lybaert, Nadine; Vandemaele, Sigrid

    2011-01-01

    This paper studies the risk-taking behavior of private family firms in general as well as variations in risk-taking behavior among the group of family firms. We use the agency perspective to theoretically argue that the usually high degree of coupling of ownership and management causes family firms to be on average less risk-taking than non-family firms. The introduction of a non-family CEO who usually has no or only limited legal ownership will have a positive influence on the level of risk-...

  18. Top management team internationalization and firm-level internationalization : The moderating effects of home-region institutional diversity and firm global focus

    NARCIS (Netherlands)

    Pisani, Niccolò; Muller, Alan; Bogățan, Paula

    2018-01-01

    The factors that determine firms’ levels of internationalization remain a focal area of international business research. Within this research stream, studies building on the upper echelons theory have investigated the influence of the demographic characteristics of the top management team (TMT) on

  19. Sectoral patterns versus firm-level heterogeneity - The dynamics of eco-innovation strategies in the automotive sector

    DEFF Research Database (Denmark)

    Faria, Lourenco; Andersen, Maj Munch

    2017-01-01

    analysis using patent data from 1965 to 2012. Our findings suggest a process of co-evolution of firms' strategies and indicate that strong sectoral-specific patterns of eco-innovation are present in this sector from the mid-2000s onwards. For fuel cells technologies, however, we observe the formation......This paper sheds light on some important but underestimated elements of green industrial dynamics: the evolution of firms' eco-innovation strategies and activities within a sector. While eco-innovation sectoral case studies have taken place before, our analysis is distinct in investigating the rate......, direction and extent of eco-innovation in the automotive sector, represented here by the main automakers, in order to identify possibly sectoral-specific patterns in firms' strategies, as opposed to divergent strategic behaviors, grounded on evolutionary economic theory. We conduct a two-step empirical...

  20. 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...

  1. 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...

  2. How Does Group Affiliation Affect The Diversification Performance Of Family-Controlled Firms In Malaysia? – A Governance Perspective

    OpenAIRE

    Ng Sin Huei

    2014-01-01

    This paper examines the roles of business group affiliations and whether the size and ownership structure of business groups influence the performance outcomes of diversification among family-controlled firms in Malaysia. It presents evidence that agency-driven and thus performance-diminishing firm diversification is more likely to take place in firms affiliated with a family-controlled business group than in independent firms. The findings support the hypothesis that if the benefits of diver...

  3. 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...

  4. Patent licensing and selling to China as a strategy of technology transfer in a New Era: A perspective of European firms

    DEFF Research Database (Denmark)

    Li, Ying; Meijer, Elise; Duysters, Geert

    2010-01-01

    International technology transfer enables firms in developed countries to exploit the value of their technological innovations, and provides firms in developing countries with access to technological and organizational knowledge. This study aims to present a timely description of the experience...... and intentions of EU firms with regard to patent licensing and/or selling to China in this new era. Firms from 12 European countries in various industries were surveyed by an online questionnaire. We found that (1) large and small EU firms are very different with regard to the number of non...

  5. A firm-level dataset for analyzing entry, exit, employment and R&D expenditures in the UK: 1997-2012.

    Science.gov (United States)

    Ugur, Mehmet; Trushin, Eshref; Solomon, Edna

    2016-09-01

    This data article is related to the research article entitled "Inverted-U relationship between R&D intensity and survival: Evidence on scale and complementarity effects in UK data" (Ugur et al., In press) [1]. It describes the trends in R&D expenditures, employment of R&D personnel and firm entry and exit rates in the UK from 1998 to 2012. We also provide statistics on net employment creation and net R&D investments due to firm entry and exits. In addition, we compute the correlation coefficients between entry and exit rates at the two digit industry level so as to examine whether the correlations are contemporaneous or inter-temporal. Finally, we provide information about the underlying dataset to which secure access is available through UK Data Service Archive 7716 at http://dx.doi.org/10.5255/UKDA-SN-7716-1.

  6. 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...

  7. Determinants of access to credit for SMEs: evidence at the level of the firm in Latin America

    Directory of Open Access Journals (Sweden)

    Héctor Alberto Botello Peñaloza

    2015-07-01

    Full Text Available The financing allows companies to address their economic resources to obtain external activities at different terms. However, there are flaws in the credit markets that limit this process, especially in SMEs. Taking into account the above, the objective of the paper is to investigate the determinants of access to credit for these businesses in Latin America. The analysis is based on a discrete choice model compound from the internal and external characteristics of the firms. It is evident that the size and technological capability are the most influential variables for access to funding markets, due to its ability to generate competitive advantages.

  8. A Network Perspective on Individual-Level Ambidexterity in Organizations

    DEFF Research Database (Denmark)

    Rogan, Michelle; Mors, Marie Louise

    2014-01-01

    in the internal and external networks of 79 senior managers in a management consulting firm revealed significant differences in the density, contact heterogeneity, and informality of ties in the networks of senior managers who engaged in both exploration and exploitation compared with managers that predominately......Addressing the call for a deeper understanding of ambidexterity at the individual level, we propose that managers’ networks are an important yet understudied factor in the ability to balance the trade-off between exploring for new business and exploiting existing business. Analyses of 1,449 ties...... explored or exploited. The findings suggest that managers’ networks are important levers for their ability to behave ambidextrously and offer insights into the microfoundations of organizational ambidexterity....

  9. Valuing productivity loss due to absenteeism: firm-level evidence from a Canadian linked employer-employee survey.

    Science.gov (United States)

    Zhang, Wei; Sun, Huiying; Woodcock, Simon; Anis, Aslam H

    2017-12-01

    In health economic evaluation studies, to value productivity loss due to absenteeism, existing methods use wages as a proxy value for marginal productivity. This study is the first to test the equality between wage and marginal productivity losses due to absenteeism separately for team workers and non-team workers. Our estimates are based on linked employer-employee data from Canada. Results indicate that team workers are more productive and earn higher wages than non-team workers. However, the productivity gap between these two groups is considerably larger than the wage gap. In small firms, employee absenteeism results in lower productivity and wages, and the marginal productivity loss due to team worker absenteeism is significantly higher than the wage loss. No similar wage-productivity gap exists for large firms. Our findings suggest that productivity loss or gain is most likely to be underestimated when valued according to wages for team workers. The findings help to value the burden of illness-related absenteeism. This is important for economic evaluations that seek to measure the productivity gain or loss of a health care technology or intervention, which in turn can impact policy makers' funding decisions.

  10. Gender differences in business success of German start-up firms

    OpenAIRE

    Gottschalk, Sandra; Niefert, Michaela

    2011-01-01

    Many studies found that women-owned firms underperform when comparing performance indicators at an aggregate level. The performance gap might be attributed to gender differences in personal and firm characteristics affecting performance. However, previous studies were not able to entirely explain female underperformance in this way. There are two theoretical perspectives on the causes of female underperformance. Liberal feminist theory suggests that women lack access to relevant resources lik...

  11. Compatibility of Firm Positioning Strategy and Website Content: Highest

    Directory of Open Access Journals (Sweden)

    Evla MUTLU KESİCİ

    2017-07-01

    Full Text Available Corporate websites are essential platforms through which firms introduce their goods and services on B2B and B2C level, express financial information for the stakeholders and share corporate values, purposes and activities. Due to its facilities, websites take part in firm positioning strategy. Accordingly this study aims to understand the innovation oriented positioning through corporate websites. The method applied in this study has been adapted from the 2QCV2Q Model developed by Mich and Franch (2000 to evaluate websites and top 30 firms with the highest Research and Development expenditures listed in Turkishtime (2015 have been analyzed. Within this context, this study presents a revised and updated method for the assessments of websites through positioning strategy framework. Findings indicate no direct relationship between website evaluation and R&D expenditure, though some common weaknesses have been put forward, such as information about management of the firms. Besides, publicly traded firms are recognized to facilitate websites more efficiently than non-publicly traded firms. Study contribute to both academia and practitioners as putting forward a new approach for 2QCV2Q Model and indicating the similarities and differences among the corporate websites through positioning perspective.

  12. An Analysis of Accountancy Firms Perspectives of the Need to Apply IFRS in Small and Medium Enterprises

    Directory of Open Access Journals (Sweden)

    Fernando Lins Alves

    2013-12-01

    Full Text Available This paper examines the services provided by accountancy professionals to small and medium enterprises (SME. More specifically, the purpose is to understand the level of utilisation of international standards to these organisations “IFRS for SME” in Brazil in accordance to the national standards (NBC T 19.41. Overall, 32 interviews were carried out in accountancy organisations in the city of Recife-PE. The study focuses on the knowledge, utilisation and applicability of the International Standards to SME. The results show that there is a lack of utilisation of the standards and that some accountancy professionals do not have knowledge regarding the changes produced by the convergence process. Moreover, the study reveals that the majority of accountancy professionals consider unnecessary to adopt the “IFRS for SME”.

  13. 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.

  14. 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...

  15. The pricing effect of the common pattern in firm-level idiosyncratic volatility: Evidence from A-Share stocks of China

    Science.gov (United States)

    Su, Zhi; Shu, Tengjia; Yin, Libo

    2018-05-01

    Inspired by Herskovic et al. (2016), we investigate the pricing effect of the firm-level common idiosyncratic volatility (CIV) in China's A-Share market. Return tests indicate that lower CIV risk loadings bring higher returns significantly, while the pricing function of market volatility (MV) is inconsistent. Strategy that goes long the highest CIV-beta quintile and short the lowest CIV-beta quintile brings an annualized average return of 5%-7%. Our findings supplement Herskovic et al. (2016) by confirming a significantly negative relationship between CIV and stock returns in a developing market.

  16. Estimation of future levels and changes in profitability: The effect of the relative position of the firm in its industry and the operating-financing disaggregation

    Directory of Open Access Journals (Sweden)

    Borja Amor-Tapia

    2014-01-01

    Full Text Available In this paper we examine how the relative position of a firm's Return on Equity (ROE in industries affects the predictability of the next-year ROE levels, and the ROE changes from year to year. Using Nissim and Penman breakdown into operating and financing drivers, the significant role of the industry factor is established, although changes in signs suggest subtle non-linear relations in the drivers. Our study avoids problems originating from negative signs by analyzing sorts and by making new regressions with disaggregated second-order drivers by signs. This way, our results provide evidence of some different patterns in the influence of the first-level drivers of ROE (the operating factor and the financing factor, and the second-level drivers (profit margin, asset turnover, leverage and return spread on future profitability, depending on the industry spread. The results on the role of contextual factors to improve the estimation of future profitability remain consistent for small and large firms, although adding some nuances.

  17. Direct effect of ownership and technology import: Firm level evidence from large and medium-enterprises in Shanghai

    Institute of Scientific and Technical Information of China (English)

    ZHU Pingfang; LI Lei

    2007-01-01

    This paper explores the direct effect of ownership and technology imports under the fiamework of neoclassical economic theory.The econometric analysis is based on panel data from a random sample of large and mediumenterprises in Shanghai,during the period of 1998 to 2003.The results show that Sino-foreign joint ventures,Sino-foralgn cooperative enterprises and foreignfunded enterprises (SANZI) enjoy higher labor productivity and total factor productlvity (TFP) than domestic enterprises.Intra-firm diffusion of non-codified technology,proxied by ovwnership,is the main source of their better performance,whereas internally transferred codified technology makes little contribution to TFP.For state-owned enterprises,codified technology imports have significantly raised both labor productivity and TFP,but such positive effect is significantly dependent on the S&T human resource.In contrast,no evidence supports that introduction of foreign technology has enhanced the productivity in domestic nonstate-owned enterprises.The empirical results indicate that SANZI do not have a distinct advantage in their codified technology.In addition,inadequate investment in assimilation process and research and development together with inefficient management of science and technology activities,may impede the use of imported technology.

  18. Nonlinear Effect of Financial Efficiency and Financial Competition on Heterogeneous Firm R&D: A Study on the Combined Perspective of Financial Quantity Expansion and Quality Development

    Directory of Open Access Journals (Sweden)

    Yang Gao

    2018-05-01

    Full Text Available Manufacturing firm data and district financial quantity and quality indicators for 2005–2007 combined with heterogeneous firm characteristics were used with a threshold panel to study the effect of financial inefficiency on firm R&D and the financial boundaries of efficiency improvement. The results show that: (1 extensive financial quantity expansion cannot support high innovation efficiency R&D (Research and Development activities in private enterprises, low- and medium-technology enterprises, and underdeveloped area enterprises, as it causes financial inefficiency problems and a shortage of R&D inputs; and (2 financial efficiency and financial competition have nonlinear effects on firm R&D. Financial inefficiency and either low or excessive financial competition result in a lack of highly efficient firm R&D. Only improvements in financial efficiency and moderate competition can significantly promote firm R&D. The results of this study reveal an important way to improve the influence of financial inefficiency on firm R&D by moving away from simply expanding financial quantity to promoting quality instead.

  19. Firm foundations

    Science.gov (United States)

    Hare, Helen

    2013-09-01

    I am an A-level physics teacher at a comprehensive school in northwest London. Most of my students do not go on to study degree-level physics because they are not expected to attain the A-level grades desired or required by universities.

  20. Internationalisation of Firms in Developing Countries

    DEFF Research Database (Denmark)

    Kuada, John

    process with export and proceed in a path-dependent manner towards the location of production activities abroad. The present apper challenges this perspective, arguing that internationalisation of firms may be initiated through either or both upstream and downstream activities. It therefore proposes...... an integrated conceptual model for internationalisation, encompassing both upstream and downstream activities. Building on this understanding, the paper suggests that firms in general and developing county-based firms in particular, may adopt one or a combination of four routes of internationalisation: upstream...... only, downstream only, sequential upstream-downstream, and or concurrent upstream-downstream routes. The implication of these perspectives for policy, strategy and research are discussed....

  1. 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 ...

  2. Bernstein's levels of movement construction: A contemporary perspective.

    Science.gov (United States)

    Profeta, Vitor L S; Turvey, Michael T

    2018-02-01

    Explanation of how goal-directed movements are made manifest is the ultimate aim of the field classically referred to as "motor control". Essential to the sought-after explanation is comprehension of the supporting functional architecture. Seven decades ago, the Russian physiologist and movement scientist Nikolai A. Bernstein proposed a hierarchical model to explain the construction of movements. In his model, the levels of the hierarchy share a common language (i.e., they are commensurate) and perform complementing functions to bring about dexterous movements. The science of the control and coordination of movement in the phylum Craniata has made considerable progress in the intervening seven decades. The contemporary body of knowledge about each of Bernstein's hypothesized functional levels is both more detailed and more sophisticated. A natural consequence of this progress, however, is the relatively independent theoretical development of a given level from the other levels. In this essay, we revisit each level of Bernstein's hierarchy from the joint perspectives of (a) the ecological approach to perception-action and (b) dynamical systems theory. We review a substantial and relevant body of literature produced in different areas of study that are accommodated by this ecological-dynamical version of Bernstein's levels. Implications for the control and coordination of movement and the challenges to producing a unified theory are discussed. Copyright © 2017 Elsevier B.V. All rights reserved.

  3. Financing patterns around the world: Are small firms different?.

    OpenAIRE

    Beck, T.H.L.; Demirgüc-Kunt, A.; Maksimovic, V.

    2008-01-01

    Using a firm-level survey database covering 48 countries, we investigate how financial and institutional development affects financing of large and small firms. Our database is not limited to large firms but includes small and medium-size firms and data on a broad spectrum of financing sources, including leasing, supplier, development, and informal finance. Small firms and firms in countries with poor institutions use less external finance, especially bank finance. Protection of property righ...

  4. Source of finance, growth and firm size: Evidence from China

    OpenAIRE

    Du, Jun; Girma, Sourafel

    2009-01-01

    Using a comprehensive firm-level dataset spanning the period 1998-2005, this paper provides a thorough investigation of the relationship between firm size, total factor productivity growth and financial structure in China, controlling for the endogeneity of the latter. Generally, it finds financing source matters for firms of different size, and the extent to which financing source matters for firm growth is greater for small firms than big firms. Self-raised finance appears to be most effect...

  5. 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)

  6. Core Knowledge Employee Creativity and Firm Performance: The Moderating Role of Riskiness Orientation, Firm Size, and Realized Absorptive Capacity

    Science.gov (United States)

    Gong, Yaping; Zhou, Jing; Chang, Song

    2013-01-01

    In this study, we examine when creativity is positively or negatively related to firm performance. Building on the creation-implementation tension theorized in the literature and the attention capacity perspective, we argue that the relationship between creativity and firm performance is contingent on riskiness orientation, firm size, and realized…

  7. 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.

  8. 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...

  9. Firm-Provided Training in Europe and the Limits of National Skills Strategies

    Science.gov (United States)

    Markowitsch, Jorg; Kapplinger, Bernd; Hefler, Gunter

    2013-01-01

    This article addresses cross-country and cross-period differences in average levels of training activity from an institutional perspective. Firm-provided training in Europe between 1999 and 2010 is scrutinized in order to explore whether diverse institutional arrangements that can be linked to welfare state regimes can yield discernible…

  10. 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...

  11. 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...

  12. 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...

  13. 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...

  14. Level 2 Perspective Taking Entails Two Processes: Evidence from PRP Experiments

    Science.gov (United States)

    Janczyk, Markus

    2013-01-01

    In many situations people need to mentally adopt the (spatial) perspective of other persons, an ability that is referred to as "Level 2 perspective taking." Its underlying processes have been ascribed to mental self-rotation that can be dissociated from mental object-rotation. Recent findings suggest that perspective taking/self-rotation…

  15. 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...

  16. The role of cluster types and firm size in designing the level of network relations: The experience of the Antalya tourism region

    NARCIS (Netherlands)

    Erkus Öztürk, H.

    2009-01-01

    The importance of developing global as well as local networks between tourism firms and clusters seeking to attain global competitiveness has been increasingly emphasized in previous studies. The aim of this paper is to examine the role of local and global networking in firms of different sizes and

  17. 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....

  18. original article an innovation systems perspectives on tertiary-level

    African Journals Online (AJOL)

    agricultural education from an innovation systems perspective, an approach ... 5 Sustainable Agriculture, Land and Water, Lancaster Environment Centre ( ... Ethiopia's capacity to leverage science ..... mobilization, project management; and.

  19. Financing patterns around the world : Are small firms different?

    NARCIS (Netherlands)

    Beck, T.H.L.; Demirgüc-Kunt, A.; Maksimovic, V.

    2008-01-01

    Using a firm-level survey database covering 48 countries, we investigate how financial and institutional development affects financing of large and small firms. Our database is not limited to large firms, but includes small and medium firms and data on a broad spectrum of financing sources,

  20. Within- and Cross-Firm Mobility and Earnings Growth

    DEFF Research Database (Denmark)

    Frederiksen, Anders; Halliday, Timothy; Koch, Alexander Karl

    It is widely accepted that promotions within firms and mobility across firms lead to significant earnings progression. Existing research generally examined cross-firm mobility separately from hierarchical advancement. Yet, as our descriptive evidence from Danish panel data shows, how the two type...... growth of promotions (either within or across firms) and subsequent mobility at a higher hierarchy level....

  1. Do Less Regulated Markets Attract Lower Quality Firms?

    DEFF Research Database (Denmark)

    Nielsson, Ulf

    2013-01-01

    The paper examines whether the moderately regulated London AIM market is at a disadvantage in attracting high quality firms. The results show that firms listed on AIM are of the same quality level as firms listed in the US and in Continental Europe, albeit smaller in size. Furthermore, the delist......The paper examines whether the moderately regulated London AIM market is at a disadvantage in attracting high quality firms. The results show that firms listed on AIM are of the same quality level as firms listed in the US and in Continental Europe, albeit smaller in size. Furthermore...... equivalent to firms listing in more regulated markets...

  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. Firm-level perspectives on public sector engagement with private healthcare providers: survey evidence from Ghana and Kenya.

    Directory of Open Access Journals (Sweden)

    Neeraj Sood

    Full Text Available BACKGROUND: Health systems in Sub-Saharan Africa (SSA are in urgent need of improvement. The private health sector is a major provider of care in the region and it will remain a significant actor in the future. Any efforts by SSA governments to improve health systems performance therefore has to account for the private health sector. Regional and international actors increasingly recognize importance of effectively engaging with the private health sector, and initiatives to improve engagement are underway in several countries. However, there is little systematic analysis of private health providers' view and experience with engagement. METHODOLOGY/PRINCIPAL FINDINGS: In this study we surveyed private health facilities in Kenya and Ghana to understand the extent to which and how governments interact and engage with these facilities. The results suggest that government engagement with private health facilities is quite limited. The primary focus of this engagement is "command-and-control" type regulations to improve the quality of care. There is little attention paid to building the capacity of health care businesses through either technical or financial assistance. The vast majority of these facilities also receive no government assistance in meeting public health and social goals. Finally, government engagement with private pharmacies is often neglected and clinics receive a disproportionate share of government assistance. CONCLUSIONS/SIGNIFICANCE: Overall, our findings suggest that there may be considerable untapped potential for greater engagement with private health facilities--particularly pharmacies. Improving engagement will likely help governments with limited resources to better take advantage of the private sector capacity to meet access and equity objectives and to accelerate the achievement of the Millennium Development Goals.

  4. Firm-Level Perspectives on Public Sector Engagement with Private Healthcare Providers: Survey Evidence from Ghana and Kenya

    Science.gov (United States)

    Sood, Neeraj; Burger, Nicholas; Yoong, Joanne; Kopf, Dan; Spreng, Connor

    2011-01-01

    Background Health systems in Sub-Saharan Africa (SSA) are in urgent need of improvement. The private health sector is a major provider of care in the region and it will remain a significant actor in the future. Any efforts by SSA governments to improve health systems performance therefore has to account for the private health sector. Regional and international actors increasingly recognize importance of effectively engaging with the private health sector, and initiatives to improve engagement are underway in several countries. However, there is little systematic analysis of private health providers' view and experience with engagement. Methodology/Principal Findings In this study we surveyed private health facilities in Kenya and Ghana to understand the extent to which and how governments interact and engage with these facilities. The results suggest that government engagement with private health facilities is quite limited. The primary focus of this engagement is “command-and-control” type regulations to improve the quality of care. There is little attention paid to building the capacity of health care businesses through either technical or financial assistance. The vast majority of these facilities also receive no government assistance in meeting public health and social goals. Finally, government engagement with private pharmacies is often neglected and clinics receive a disproportionate share of government assistance. Conclusions/Significance Overall, our findings suggest that there may be considerable untapped potential for greater engagement with private health facilities—particularly pharmacies. Improving engagement will likely help governments with limited resources to better take advantage of the private sector capacity to meet access and equity objectives and to accelerate the achievement of the Millennium Development Goals. PMID:22132092

  5. 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

  6. Employability Skills, Personal Qualities, and Early Employment Problems of Entry-Level Auditors: Perspectives from Employers, Lecturers, Auditors, and Students

    Science.gov (United States)

    Lim, Yet-Mee; Lee, Teck Heang; Yap, Ching Seng; Ling, Chui Ching

    2016-01-01

    The authors examine the issue of employability of university accounting students from the perspectives of accounting firm employers, junior auditors, accounting lecturers, and accounting students. Areas of investigation include perceived importance of employability skills and desirable personal qualities; and early employment problems encountered…

  7. 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...

  8. 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...

  9. Corporate Governance, Cash Holdings, and Firm Value: Evidence from Japan

    OpenAIRE

    Qi Luo; Toyohiko Hachiya

    2005-01-01

    This paper presents evidence on cash holdings for Japanese firms listed on the Tokyo Stock Exchange, focusing on the impact of corporate governance factors in cash holdings and the implication of cash holdings to firm value. We find that insider ownership and bank relations of firms play a significant role in determining cash holdings. Our results indicate that foreign stockholders select profitable firms to invest, and these firms have higher levels of cash. We document evidence that cash ho...

  10. 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

  11. Fashion Brand Purity and Firm Performance

    Directory of Open Access Journals (Sweden)

    Jin-hui Zheng

    2013-01-01

    Full Text Available A large number of prior empirical research and case studies used qualitative methodology to discuss the fashion brand dilution resulting from consumer base extension from the target group(s to the nontarget groups and its impacts. From a different perspective, this paper establishes a dynamic brand dilution and performance model, demonstrating how dynamic changes of sales volumes involving the two consumer groups affect the degree of brand dilution and the performance of the brand. We incorporate the factor “brand purity” to the model as a quantitative measure of brand dilution level that affects firm annual revenue and profit change comprehensively in iteration. Our model suggests that fashion brands, especially luxury brands, can be easily diluted under the pressure of firm growth, and the brands suffer the significant negative impact on their revenues and profit. While increasing sales volume can aggravate the negative consequences, brand purity can be increased through limiting the consumer base to the target group only.

  12. THE SOCIAL RESPONSIBILITY OF THE FIRMS AND ETHICS IN BUSINESS

    Directory of Open Access Journals (Sweden)

    SCUTARU LILIANA

    2013-04-01

    Full Text Available The ample process of the sustainable development in which all the firms are involved, larger or smaller, determines them to reconsider their business politics and to turn to the demands of the environmental protection and social cohesion, concurrently with the increase of the profits that represent the main motivation of a firm existence. This paper addresses the issue of corporate social responsibility and moral behavior adoption in activities developed resulted in codes of business conduct. The concept of social responsibility has been widely debated over the years for the adoption and implementation by companies of ethical behavior in business. Ethics in business takes account of an ethical perspective on the way in which a company or an individual understands to do business, meaning a set of principles that should lead business conduct, both at individual and organization level. In Romania, the actions of social responsibility had a modest start, developing gradually through the experience brought by multinational companies. More and more firms understand what impact their activities have on their own employees, their customers, shareholders, the community and on the surrounding environment. The analysis effectuated on the companies which develop their activity in Romania show that, for the most part, only the multinational firms fulfill the demands for the realization of the concept of social responsibility and have at the same time, established conduct codes in the business they make.

  13. Clinical and Insurance Perspectives on Intermediate Levels of Care in Psychiatry.

    Science.gov (United States)

    Plakun, Eric M

    2018-03-01

    This column compares a clinical perspective on the continuum of care for mental health and substance use disorders with a different perspective derived from publicly available insurance company documents and experience dealing with managed care utilization reviewers. The latter perspective tends to determine the need for access to levels of care based on the need for crisis stabilization, whereas the generally accepted clinical standard is more nuanced than the need for crisis stabilization alone. The column proposes that this discrepancy in perspectives makes a substantial contribution to disagreements between treating clinicians, such as therapists, and insurance utilization reviewers concerning the medical necessity of various requested levels of care.

  14. 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...

  15. 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.

  16. 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...

  17. 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.

  18. 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...

  19. 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...

  20. 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...

  1. 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

  2. Taxing the Financially Integrated Multinational Firm

    DEFF Research Database (Denmark)

    Johannesen, Niels

    partly fall on investment and thus workers in the former country. This tax exporting mechanism introduces a scope for corporate taxes, which is not present in standard models of international taxation. Accounting for the internal capital markets of multinational firms thus represents a way to resolve......This paper develops a theoretical model of corporate taxation in the presence of financially integrated multinational firms. Under the assumption that multinational firms at least partly use internal loans to finance foreign investment, we find that the optimal corporate tax rate is positive from...... the perspective of a small, open economy. This finding contrasts the standard result that the optimal source based capital tax is zero. Intuitively, to the extent that multinational firms finance investment in country i with loans from affiliates in country j, the burden of corporate taxes in the latter country...

  3. 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

  4. 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

  5. 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

  6. 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.

  7. 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.

  8. Estimation of future levels and changes in profitability: The effect of the relative position of the firm in its industry and the operating-financing disaggregation

    Directory of Open Access Journals (Sweden)

    Borja Amor-Tapia

    2014-06-01

    Full Text Available In this paper we examine how the relative position of a firm’s Return on Equity (ROE in industries affects the predictability of the next-year ROE levels, and the ROE changes from year to year. Using Nissim and Penman breakdown into operating and financing drivers, the significant role of the industry factor is established, although changes in signs suggest subtle non-linear relations in the drivers. Our study avoids problems originating from negative signs by analyzing sorts and by making new regressions with disaggregated second-order drivers by signs. This way, our results provide evidence of some different patterns in the influence of the first-level drivers of ROE (the operating factor and the financing factor, and the second-level drivers (profit margin, asset turnover, leverage and return spread on future profitability, depending on the industry spread. The results on the role of contextual factors to improve the estimation of future profitability remain consistent for small and large firms, although adding some nuances En este trabajo examinamos si la posición relativa del ROE de la empresa en el sector afecta a la estimación del nivel de ROE en el a˜no posterior, y a la estimación de su variación. Empleando el desglose operativo-financiero de Nissim y Penman, encontramos que el factor sectorial es significativo, aunque las variaciones de los signos sugieren la presencia de relaciones no lineales. Nuestro trabajo evita los problemas generados por los signos negativos en los ratios al emplear cuantiles y realizar regresiones independientes para los diferentes signos que toman las variables. De esta forma, los resultados muestran diferentes patrones en el impacto de los inductores del ROE de primer nivel (los factores operativo y financiero y de segundo nivel (margen de resultados, rotaciones de los activos, endeudamiento y diferencial de rentabilidad sobre la rentabilidad futura, dependiendo del diferencial de rentabilidad con

  9. The Essential Leadership Role of Senior Management in Adopting Architectural Management and Modular Strategies (AMMS), with Perspectives on Experiences of European Automotive Firms

    DEFF Research Database (Denmark)

    Sanchez, Ron

    2015-01-01

    , however, to the fundamental changes in management and organizational processes a firm must undergo in order to implement architectural management and modular strategies ("AMMS") successfully. A common misperception among some senior managers is that implementing AMMS involves primarily some technical...... through the critical organizational and managerial changes required to implement and use AMMS effectively. This paper also suggests that there are two fundamentally different management approaches to leading the organizational change process needed to implement AMMS. We characterize......The potential benefits of architectural approaches to developing new products and of using modular architectures as the basis for new kinds of product strategies have been recognized since the 1990s and elaborated at some length in management research. Relatively little attention has been paid...

  10. Firms, nonprofits, and cooperatives : A theory of organizational choice

    NARCIS (Netherlands)

    Herbst, Patrick; Prüfer, Jens

    We formalize the difference between profit-maximizing firms, nonprofits, and cooperatives and identify optimal organizational choice in a model of quality provision. Firms provide lowest and nonprofits highest levels of quality. Efficiency, however, depends on the competitive environment, the

  11. A relational leadership perspective on unit-level safety climate.

    Science.gov (United States)

    Thompson, Debra N; Hoffman, Leslie A; Sereika, Susan M; Lorenz, Holly L; Wolf, Gail A; Burns, Helen K; Minnier, Tamra E; Ramanujam, Rangaraj

    2011-11-01

    This study compared nursing staff perceptions of safety climate in clinical units characterized by high and low ratings of leader-member exchange (LMX) and explored characteristics that might account for differences. Frontline nursing leaders' actions are critical to ensure patient safety. Specific leadership behaviors to achieve this goal are underexamined. The LMX perspective has shown promise in nonhealthcare settings as a means to explain safety climate perceptions. Cross-sectional survey of staff (n = 711) and unit directors from 34 inpatient units in an academic medical center was conducted. Significant differences were found between high and low LMX scoring units on supervisor safety expectations, organizational learning-continuous improvement, total communication, feedback and communication about errors, and nonpunitive response to errors. The LMX perspective can be used to identify differences in perceptions of safety climate among nursing staff. Future studies are needed to identify strategies to improve staff safety attitudes and behaviors. Copyright © 2011 Wolters Kluwer Health | Lippincott Williams & Wilkins

  12. 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...

  13. 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...

  14. 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...

  15. 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

  16. 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...

  17. Views of CEOs on Firm Performance

    Directory of Open Access Journals (Sweden)

    Dario Berginc

    2014-11-01

    Full Text Available Researching the managerial perspective of performance can contribute to a better understanding of firm performance, and offer a valuable contribution to research on objective performance measurement. The aim of this article is to examine how managers evaluate firm performance and which factors, in their opinion, have the biggest influence on performance. We particularly wanted to investigate the influence of top management and owners on firm performance. We conducted a qualitative study among the CEOs of some of the most successful Slovenian firms. The results show that CEOs connect positive performance with long-term growth and satisfying the needs of key stakeholders (employees, customers and owners, but short-term positive financial performance represents the basic foundation. The second most important factor is a united top management, capable of generating new ideas and acting as a role model to employees. This can lead to a higher degree of engagement by employees and a better understanding of the firm's goals. Owners can contribute to a positive firm performance with their active, strategic and long-term orientation, and with their ability to set clear goals and to trust top management in the long run. Another important factor that influences firm performance is the ownership structure. In the opinion of CEOs, dominant and private ownership has a more positive impact on firm performance than dispersed and state ownership. The present research findings provide several examples of good and bad practice, and highlight opportunities for further research, from an in-depth study of individual factors of firm performance to the search for a more comprehensive model of performance factors, based on a larger sample of CEOs and other managers.

  18. Enterprise risk management and firm value within China’s insurance industry

    Directory of Open Access Journals (Sweden)

    Qiuying Li

    2014-02-01

    Research purpose: The purpose of the study is to empirically examine the relationship between ERM and firm value. The study is undertaken within the context of the Chinese insurance industry. Motivation for the study: Recent attempts to link ERM with firm value have been undertaken primarily in the USA and Europe and have produced ambiguous and inconclusive findings. Research design, approach and method: Data was obtained from the China Insurance Regulatory Commission, a government body responsible for regulating insurance products and services in China. The data sample consisted of 135 insurance companies operating in China (in 2010. Regression modelling is employed to analyse the data. Main findings: The results show the relationship between ERM and firm value at first appears statistically significant within a Pearson correlation matrix but then falls below statistical significance on closer scrutiny through regression analysis. Accordingly, it is recommended that insurers in China should not look to aggressive investment in ERM as a strategy for producing quick gains in firm value. Practical/managerial implications: Risk managers should plan ERM development from a risk management maturity perspective, which equates the highest level of ERM development with ERM’s capacity to improve firm resilience to the unknown and serve as a mechanism for strategic decision-making. Contribution/value-add: The study employed return on equity as a proxy for firm value, utilising ordinary least squares regression modelling to test propositions of the relationships between variables.

  19. Organization Context and Human Resource Management in the Small Firm

    NARCIS (Netherlands)

    J.M.P. de Kok (Jan); L.M. Uhlaner (Lorraine)

    2001-01-01

    textabstractThis paper examines the relationship between organization contextual variables and human resource management (HRM) practices in small firms. The proposed model is based on an integration of theoretical perspectives, including the resource-based approach, institutional theory, transaction

  20. 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. 

  1. Corporate Governance Provisions, Family Involvement, and Firm Performance in Publicly Traded Family Firms

    Directory of Open Access Journals (Sweden)

    Esra Memili

    2015-07-01

    Full Text Available This study examines the moderation effects of corporate governance provisions on the link between family involvement (i.e., family ownership and family management in publicly-traded firms and firm performance by drawing upon agency theory, with a focus on principal-principal agency issues, and the extant family governance literature. We develop and test the hypotheses on 386 of the S&P 500 firms longitudinally. Findings support the hypotheses suggesting the moderation effects of the use of provisions (a protecting controlling owners in terms of their sustainability of controlling status, and (b protecting management legally on the inverted U-shaped relationship between family ownership and firm performance. We also found support for the moderation effects of provisions (c protecting controlling owners in terms of their voting rights, (d protecting noncontrolling owners, and (e protecting management monetarily on the inverted U-shaped relationship between family management and firm performance. By this, our study provides empirical support for the principal-principal agency perspective on the corporate governance in publicly-traded family firms. As such, it suggests new avenues of research for both the corporate governance literature, as well as for the theory of the family firm. Our study also offers insights to policy directed toward monitoring the actions of large shareholders such as family and enhancing the overall shareholder value in publicly-traded family firms.

  2. Impact of social media on consumers and firms

    OpenAIRE

    de Vries, Lisette

    2015-01-01

    Today, many firms use social media to not only reach out to consumers, but also to create engagement and strengthen the bond between themselves and their customers. Social media changed the way companies do business, and as such it can threaten existing business models; however, it can also create new opportunities. This dissertation examines the impact of social media on consumers and firms from different perspectives: When considering the consumer perspective, I derive insights into psychol...

  3. 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...

  4. 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...

  5. Foreign Currency Borrowing by Small Firms

    OpenAIRE

    Martin Brown; Steven Ongena; Pinar Yesin

    2009-01-01

    We examine the firm- and country-level determinants of the currency denomination of small business loans. We first model the choice of loan currency in a framework which features a trade-off between lower cost of debt and the risk of firm-level distress costs, and also incorporates the impact of information asymmetry between banks and firms. When foreign currency funds come at a lower interest rate, all foreign currency earners as well as those local currency earners with high revenues and lo...

  6. 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...

  7. 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....

  8. Regulation and the Ownership Structure of European Listed Firms

    DEFF Research Database (Denmark)

    Rapp, Marc Steffen; Trinchera, Oliver

    2017-01-01

    In this paper, we explore an extensive panel data set covering more than 4,000 listed firms in 16 European countries to study the effects of shareholder protection on ownership structure and firm performance. We document a negative firm-level correlation between shareholder protection and ownersh...

  9. Foreign currency borrowing by small firms in the transition economies

    NARCIS (Netherlands)

    Brown, M.; Ongena, S.; Yesin, P.

    2011-01-01

    We examine the firm- and country-level determinants of foreign currency borrowing by small firms, using information on the most recent loan extended to 3101 firms in 25 transition countries between 2002 and 2005. Our results suggest that foreign currency borrowing is much stronger related to

  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. 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....

  12. 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...

  13. 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...

  14. 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...

  15. Internationalization of Firms in Developing Countries - An integrated Conceptual Framework

    DEFF Research Database (Denmark)

    Kuada, John Ernest

    2016-01-01

    an integrated conceptual model for internationalisation, encompassing both upstream and downstream activities. Building on this understanding, the chapter suggests that firms in general and developing country-based firms in particular, may adopt one or a combination of four routes of internationalisation...... process with export and proceed in a path-dependent manner towards the location of production activities abroad. The present chapter challenges this perspective, arguing that internationalisation of firms may be initiated through either or both upstream and downstream activities. It therefore proposes......: upstream only, downstream only, sequential upstream-downstream, and or concurrent upstream-downstream routes. The implications of these perspectives for policy, strategy and research are discussed...

  16. 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...

  17. 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...

  18. THE CHALLENGE OF GLOBALIZATION FOR LARGE CHINESE FIRMS

    OpenAIRE

    Peter Nolan; Jin Zhang

    2002-01-01

    As China joins the World Trade Organization, the author questions whether China’s large firms will be able to compete on the global level playing field. Over the past two decades, Chinese large enterprises have undertaken extensive evolutionary change but, at the same time, the world’s leading firms have undergone a revolutionary transformation. Based on analysis of firms with the aerospace, oil and petrochemical industry, the authors conclude that China’s leading firms face critical challeng...

  19. An empirical study of Malaysian firms' capital structure

    OpenAIRE

    Zain, Sharifah Raihan Syed Mohd

    2003-01-01

    Merged with duplicate record 10026.1/821 on 27.03.2017 by CS (TIS) It is sometimes purported that one of the factors affecting a firm's value is its capital structure. The event of the 1997 Asian financial crisis was expected to affect the firms' gearing level as the firms' earnings deteriorated and the capital market collapsed. The main objective of this research is to examine empirically the determinants of the capital structure of Malaysian firms. The main additional aim is ...

  20. The multi-level perspective analysis: Indonesia geothermal energy transition study

    Science.gov (United States)

    Wisaksono, A.; Murphy, J.; Sharp, J. H.; Younger, P. L.

    2018-01-01

    The study adopts a multi-level perspective in technology transition to analyse how the transition process in the development of geothermal energy in Indonesia is able to compete against the incumbent fossil-fuelled energy sources. Three levels of multi-level perspective are socio-technical landscape (ST-landscape), socio-technical regime (ST-regime) and niche innovations in Indonesia geothermal development. The identification, mapping and analysis of the dynamic relationship between each level are the important pillars of the multi-level perspective framework. The analysis considers the set of rules, actors and controversies that may arise in the technological transition process. The identified geothermal resource risks are the basis of the emerging geothermal technological innovations in Indonesian geothermal. The analysis of this study reveals the transition pathway, which yields a forecast for the Indonesian geothermal technology transition in the form of scenarios and probable impacts.

  1. The relationship between strategic type and firm capabilities in Chinese firms

    NARCIS (Netherlands)

    Benedetto, Di A.C.; Song, X.M.

    2003-01-01

    Proposes that firms of different Miles and Snow strategic types will have different bundles of firm-level capabilities; that is, certain capabilities will be more important to certain strategic types. Specifically, proposes that prospectors have greater relative inside-out capabilities and

  2. Sea level oscillations over minute timescales: a global perspective

    Science.gov (United States)

    Vilibic, Ivica; Sepic, Jadranka

    2016-04-01

    Sea level oscillations occurring over minutes to a few hours are an important contributor to sea level extremes, and a knowledge on their behaviour is essential for proper quantification of coastal marine hazards. Tsunamis, meteotsunamis, infra-gravity waves and harbour oscillations may even dominate sea level extremes in certain areas and thus pose a great danger for humans and coastal infrastructure. Aside for tsunamis, which are, due to their enormous impact to the coastlines, a well-researched phenomena, the importance of other high-frequency oscillations to the sea level extremes is still underrated, as no systematic long-term measurements have been carried out at a minute timescales. Recently, Intergovernmental Oceanographic Commission (IOC) established Sea Level Monitoring Facility portal (http://www.ioc-sealevelmonitoring.org), making 1-min sea level data publicly available for several hundred tide gauge sites in the World Ocean. Thereafter, a global assessment of oscillations over tsunami timescales become possible; however, the portal contains raw sea level data only, being unchecked for spikes, shifts, drifts and other malfunctions of instruments. We present a quality assessment of these data, estimates of sea level variances and contributions of high-frequency processes to the extremes throughout the World Ocean. This is accompanied with assessment of atmospheric conditions and processes which generate intense high-frequency oscillations.

  3. Cash Holdings and Leverage of German Listed Firms

    DEFF Research Database (Denmark)

    Rapp, Marc Steffen; Killi, Andreas Maximilian

    2016-01-01

    We examine cash holdings and leverage levels of German listed (non-financial and non-utility) firms. We document a secular increase in cash ratios over the last twenty years (1992–2011), reducing the net debt book leverage ratio for the average sample firm close to zero. Using prediction models...... firms are associated with measures of uncertainty faced by firms. Our results suggest that German firms have increased (reduced) their cash (net debt leverage) levels over time in order to adopt more precautionary financial policies....

  4. 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.

  5. Banking Firm, Equity and Value at Risk

    Directory of Open Access Journals (Sweden)

    Udo Broll

    2012-12-01

    Full Text Available The paper focuses on the interaction between the solvency probability of a banking firm and the diversification potential of its asset portfolio when determining optimal equity capital. The purpose of this paper is to incorporate value at risk (VaR into the firm-theoretical model of a banking firm facing the risk of asset return. Given the necessity to achieve a confidence level for solvency, we demonstrate that diversification reduces the amount of equity. Notably, the VaR concept excludes a separation of equity policy and asset-liability management.

  6. Adapting to Rising Sea Level: A Florida Perspective

    Science.gov (United States)

    Parkinson, Randall W.

    2009-07-01

    Global climate change and concomitant rising sea level will have a profound impact on Florida's coastal and marine systems. Sea-level rise will increase erosion of beaches, cause saltwater intrusion into water supplies, inundate coastal marshes and other important habitats, and make coastal property more vulnerable to erosion and flooding. Yet most coastal areas are currently managed under the premise that sea-level rise is not significant and the shorelines are static or can be fixed in place by engineering structures. The new reality of sea-level rise and extreme weather due to climate change requires a new style of planning and management to protect resources and reduce risk to humans. Scientists must: (1) assess existing coastal vulnerability to address short term management issues and (2) model future landscape change and develop sustainable plans to address long term planning and management issues. Furthermore, this information must be effectively transferred to planners, managers, and elected officials to ensure their decisions are based upon the best available information. While there is still some uncertainty regarding the details of rising sea level and climate change, development decisions are being made today which commit public and private investment in real estate and associated infrastructure. With a design life of 30 yrs to 75 yrs or more, many of these investments are on a collision course with rising sea level and the resulting impacts will be significant. In the near term, the utilization of engineering structures may be required, but these are not sustainable and must ultimately yield to "managed withdrawal" programs if higher sea-level elevations or rates of rise are forthcoming. As an initial step towards successful adaptation, coastal management and planning documents (i.e., comprehensive plans) must be revised to include reference to climate change and rising sea-level.

  7. KNOWLEDGE CAPITAL, INTANGIBLE ASSETS, AND LEVERAGE: EVIDENCE FROM U.S. AGRICULTURAL BIOTECHNOLOGY FIRMS

    OpenAIRE

    Sporleder, Thomas L.; Moss, Leeann E.; Nickels, Lori A.

    2002-01-01

    Firms in general, and high technology firms such as biotechnology firms in particular, are both a set of assets in place and growth opportunities. This has important implications for managerial decision-making. Knowledge capital motivates exploitation of growth options, which affects firm cash flow. In turn, the level and volatility of firm cash flow influences firm financing decisions. Previous studies suggest that knowledge capital can influence both the location and capital structure of fi...

  8. Knowledge Capital, Intangible Assets, and Leverage: Evidence from U.S. Agricultural Biotechnology Firms

    OpenAIRE

    Sporleder, Thomas L.; Moss, Leeann E.

    2004-01-01

    Agricultural biotechnology firms are high technology companies. Firms in general, and high technology firms in particular, are a set of both assets in place and growth opportunities. This has important implications for managerial decision-making. Knowledge capital motivates exploitation of growth options, which affects firm cash flow. In turn, the level and volatility of firm cash flow influences firm financing decisions. Previous studies suggest that knowledge capital can influence both the ...

  9. Illinois perspective on low level radioactive waste disposal

    International Nuclear Information System (INIS)

    Etchison, D.

    1984-01-01

    Illinois is a big generator of low level radioactive waste. It has had extensive experience with controversial waste disposal and storage facilities. This experience makes it difficult for the public and political leaders in Illinois to support the establishment of new disposal facilities in the state. Yet, with extensive debates and discussions concerning the Low Level Waste Policy Act of 1980 and the proposed Midwest Compact, political leaders and the public are facing up to the fact that they must be responsible for the disposal of the low level radioactive waste generated in the state. The Governor and many political leaders from Illinois support the regional approach and believe it can be an innovative and progressive way for the state to deal with the range of low level waste management and disposal problems. A version of the Midwest Interstate Low Level Waste Compact has become Illinois law, but it has significant differences from the one adopted by five other states. Like other states in the midwest and northeast, Illinois is opposed to Congressional consent of the four pending compacts before the remaining two compacts, the northeast and midwest are sent to Washington and interregional agreements are negotiated between the sited and non-sited regions. A new national system must be established before access to existing commercial disposal becomes restricted

  10. Clinical Perspective Level of depression among adolescents of ...

    African Journals Online (AJOL)

    ... or differences between these two groups. Conclusions: The findings of the study suggest that religious minority adolescents (Christians and Hindus) in Pakistan are inclined to have higher levels of depression than their dominant counterparts (Muslim adolescents). Journal of Child & Adolescent Mental Health 2012, 24(2): ...

  11. Low-level waste packaging--a managerial perspective

    International Nuclear Information System (INIS)

    Motl, G.P.; Hebbard, L.B. Jr.

    1980-01-01

    This paper emphasizes managerial responsibility for assuring that facility waste is properly packaged. Specifically, existing packaging regulations are summarized, several actual violations are reviewed and, lastly, some recommendations are made to assist managerial personnel in fulfilling their responsibility to ensure that low-level waste is packaged safely and properly before shipment to the disposal site

  12. An Innovation Systems Perspectives on Tertiary-Level Agricultural ...

    African Journals Online (AJOL)

    This paper examines how tertiary-level agricultural education in sub-Saharan Africa can contribute to agricultural development beyond its current role as a source of technical training. The paper draws on data and information gathered from semistructured key informant interviews conducted in late 2006 in and around Addis ...

  13. Micro Level Perspectives on Growth (Tanzania) | Page 2 | CRDI ...

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

    However, poverty is still widespread and the government admits that micro-level achievement ought to be better. This grant will allow the Department of Economics, University of Dar-es-Salaam, to undertake microeconomic analysis in a few areas of policy concern (rural growth, manufacturing, private sector development) to ...

  14. 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...

  15. Levels of Social Capital in Internationalization

    DEFF Research Database (Denmark)

    Decker, Arnim

    2016-01-01

    This contribution introduces the notion of social capital and discusses integration into the studies on internationalization of smaller firms and entrepreneurs. Integrating social capital into the resource based perspective, we categorize social capital at three levels: firstly, social capital can...... be attributed to individuals, affecting their relationship with the external environment. Secondly, social capital is an inherent property of networks, into which smaller firms and entrepreneurs are embedded. Thirdly, social capital exists at the macro level, where its characteristics and availability varies...... between environments and nations. This contribution attemps to fascilitate the operationalization of social capital for an improved understanding of processes of internationalization of smaller firms and entrepreneurs....

  16. Do Firms Believe in Interest Rate Parity?

    OpenAIRE

    Matthew R. McBrady; Sandra Mortal; Michael J. Schill

    2010-01-01

    Using a broad sample of international corporate bond offerings, we provide evidence that corporate borrowers make opportunistic currency choices, in that they denominate the currency of their bonds in a manner that is inconsistent with a belief in either covered or uncovered interest rate parity. Using firm-level tests, we identify a number of characteristics of firms that engage in opportunistic behavior. We observe that large issuers located in developed markets with investment-grade rating...

  17. Incentives and cooperation in firms: Field evidence

    OpenAIRE

    Berger, Johannes; Herbertz, Claus; Sliwka, Dirk

    2011-01-01

    We empirically investigate the impact of incentive scheme structure on the degree of cooperation in firms using a unique and representative data set. Combining employee survey data with detailed firm level information on the relative importance of individual, team, and company performance for compensation, we find a significant positive relation between the intensity of team incentives and several survey measures of cooperation. Moreover, higher powered team incentives are associated with low...

  18. Intra-industry trade with multinational firms

    OpenAIRE

    Egger, H; Egger, P; Greenaway, D

    2007-01-01

    Recent developments, including the analysis of firm-level adjustment to falling trade costs, have contributed to a revival of interest in intra-industry trade (IIT). Most empirical work still relies on the standard Grubel–Lloyd measure. This however refers only to international trade, disregarding income flows stimulated by repatriated profits of multinational firms. Given the overwhelming importance of the latter, this is a major shortcoming. This paper provides a guide to measurement and es...

  19. 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“.

  20. AP600 level of automation: United States utility perspective

    International Nuclear Information System (INIS)

    Bekkerman, A.Y.

    1997-01-01

    Design of the AP600 advanced nuclear plant man-machine interface system (M-MIS) is guided by the applicable requirements from the Utility Requirements Document (URD). However, the URD has left certain aspects of the M-MIS to be determined by the designer working together with utilities sponsoring the work. This is particularly true in the case of the level of automation to be designed into the M-MIS. Based on experience from currently operating plants, utilities have specified the identity and roles of personnel in the control room, which has led to establishing a number of level of automation issues for the AP600. The key role of automated computerized procedures in the AP600 automation has been determined and resolved. 5 refs

  1. 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....

  2. Standards for high level waste disposal: A sustainability perspective

    International Nuclear Information System (INIS)

    Dougherty, W.W.; Powers, V.; Johnson, F.X.; Cornland, D.

    1999-01-01

    Spent reactor fuel from commercial power stations contains high levels of plutonium, other fissionable actinides, and fission products, all of which pose serious challenges for permanent disposal because of the very long half-lives of some isotopes. The 'nuclear nations' have agreed on the use of permanent geologic repositories for the ultimate disposal of high-level nuclear waste. However, it is premature to claim that a geologic repository offers permanent isolation from the biosphere, given high levels of uncertainty, nascent risk assessment frameworks for the time periods considered, and serious intergenerational equity issues. Many have argued for a broader consideration of disposal options that include extended monitored retrievable storage and accelerator-driven transmutation of wastes. In this paper we discuss and compare these three options relative to standards that emerge from the application of sustainable development principles, namely long-lasting technical viability, intergenerational equity, rational resource allocation, and rights of future intervention. We conclude that in order to maximise the autonomy of future generations, it is imperative to leave future options more open than does permanent disposal

  3. PERSPECTIVE: The tripping points of sea level rise

    Science.gov (United States)

    Hecht, Alan D.

    2009-12-01

    When President Nixon created the US Environmental Protection Agency (EPA) in 1970 he said the environment must be perceived as a single, interrelated system. We are nowhere close to achieving this vision. Jim Titus and his colleagues [1] highlight one example of where one set of regulations or permits may be in conflict with another and where regulations were crafted in the absence of understanding the cumulative impact of global warming. The issue here is how to deal with the impacts of climate change on sea level and the latter's impact on wetland polices, clean water regulations, and ecosystem services. The Titus paper could also be called `The tripping points of sea level rise'. Titus and his colleagues have looked at the impact of such sea level rise on the east coast of the United States. Adaptive responses include costly large- scale investment in shore protection (e.g. dikes, sand replenishment) and/or ecosystem migration (retreat), where coastal ecosystems move inland. Shore protection is limited by available funds, while ecosystem migrations are limited by available land use. The driving factor is the high probability of sea level rise due to climate change. Estimating sea level rise is difficult because of local land and coastal dynamics including rising or falling land areas. It is estimated that sea level could rise between 8 inches and 2 feet by the end of this century [2]. The extensive data analysis done by Titus et al of current land use is important because, as they observe, `property owners and land use agencies have generally not decided how they will respond to sea level rise, nor have they prepared maps delineating where shore protection and retreat are likely'. This is the first of two `tripping points', namely the need for adaptive planning for a pending environmental challenge that will create economic and environment conflict among land owners, federal and state agencies, and businesses. One way to address this gap in adaptive management

  4. Impacts of Emerging Economies and Firms on International Business

    DEFF Research Database (Denmark)

    The internationalization of emerging economies has brought new perspectives to international business development. Focusing on the extensive impact these emerging economies and firms have had, this volume covers the strong players, such as Brazil, Russia, India and China, as well as dynamically d...... originating from emerging economies. It explores new horizons in international business development and addresses challenging perspectives.......The internationalization of emerging economies has brought new perspectives to international business development. Focusing on the extensive impact these emerging economies and firms have had, this volume covers the strong players, such as Brazil, Russia, India and China, as well as dynamically...

  5. 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....

  6. The NRC perspective on low-level radioactive waste disposal

    International Nuclear Information System (INIS)

    Thompson, H.L. Jr.; Knapp, M.R.

    1987-01-01

    This paper describes the Nuclear Regulatory Commission's (NRC) actions in response to the Low-Level Radioactive Waste Policy Amendments Act (the Act) and NRC's assistance to States and Compacts working to discharge their responsibilities under the Act. Three of NRC's accomplishments which respond explicitly to direction in the Act are highlighted. These are: development of the capability of expedited handling of petitions addressing wastes below regulatory concern (BRC); development of capability to review and process an application within fifteen months; and development of guidance on alternatives to shallow land burial. Certain NRC efforts concerning special topics related to the Act as well as NRC efforts to assist States and Compacts are summarized

  7. EMPLOYMENT LEVEL ANALYSIS FROM THE DETERMINANT FACTORS PERSPECTIVE

    Directory of Open Access Journals (Sweden)

    Elena Diana ŞERB

    2016-02-01

    Full Text Available Neglecting the human factor as part of the labor market causes losses for society as any activity that is initiated within it, has as a starting point, and also as a finishing point, the human intervention. The starting point of the article is represented by the projections made by the European    Commission in the Population Ageing Report in 2015 underlying assumptions and projections, and also by the projections of the United Nations report in 2015, and this resulted in many conclusions including the one that for the first time in Romania the average aging in 2015 exceeds the values measured by EU till present day, and this is reflected in the employment level (active aging population. The hypothesis behind the article is that the evolution of the population and migrants has repercussions on employment. Structured in three parts: knowledge status, the analysis of employment indicators and information about the intensity and direction of the link between a number of factors and employment level, this article aims to establish the determinant factors of employment through a research focused on the analysis of secondary sources, and also using the regression model. The most important lesson learned as a result of this research is that the labor market works with a variety of factors with a higher or lower influence, and in turn the labor market influences other factors.

  8. High level waste management in Asia: R and D perspectives

    International Nuclear Information System (INIS)

    Deokattey, Sangeeta; Bhanumurthy, K.

    2010-01-01

    The present work is an attempt to provide an overview, about the status of R and D and current trends in high level radioactive waste management, particularly in Asian countries. The INIS database (for the period 1976 to 2010) was selected for this purpose, as this is the most authoritative global source of information, in the area of Nuclear Science and Technology. Appropriate query formulations on the database, resulted in the retrieval of 4322 unique bibliographic records. Using the content analysis method (which is both a qualitative as well as a quantitative research method), all the records were analyzed. Part One of the analysis details Scientometric R and D indicators, such as the countries and the institutions involved in R and D, the types of publications, and programmes and projects related to High Level Waste management. Part Two is a subject-based analysis, grouped under the following broad categories: I. Waste Processing 1. Partitioning and transmutation (including ADS) II. Waste Immobilization 1. Glass waste forms and 2. Crystalline ceramics and other waste forms III. Waste Disposal 1. Performance assessment and safety evaluation studies 2. Geohydrological studies a. Site selection and characterization, b. In situ underground experiments, c. Rock mechanical characterization 3. Deep geological repositories a. Sorption, migration and groundwater chemistry b. Engineered barrier systems and IV. Waste Packaging Materials. The results of this analysis are summarized in the study. (author)

  9. Strategy and structure in interaction: What determines the boundaries of the firm?

    OpenAIRE

    Staffan Canback; Phillip Samouel; David Price

    2003-01-01

    This paper analyzes empirically the boundaries of the firm based on Williamson's perspective on what determines firm size. It uses firm performance (risk-adjusted profitability and growth) as dependent variable; and firm organization, diseconomies of scale (atmospheric consequences, bureaucratic insularity, incentive limits, and communication distortion), economies of scale, and asset specificity as independent variables in a structural equation model. Data were collected from the 784 largest...

  10. Adiabatic logic future trend and system level perspective

    CERN Document Server

    Teichmann, Philip

    2012-01-01

    Adiabatic logic is a potential successor for static CMOS circuit design when it comes to ultra-low-power energy consumption. Future development like the evolutionary shrinking of the minimum feature size as well as revolutionary novel transistor concepts will change the gate level savings gained by adiabatic logic. In addition, the impact of worsening degradation effects has to be considered in the design of adiabatic circuits. The impact of the technology trends on the figures of merit of adiabatic logic, energy saving potential and optimum operating frequency, are investigated, as well as degradation related issues. Adiabatic logic benefits from future devices, is not susceptible to Hot Carrier Injection, and shows less impact of Bias Temperature Instability than static CMOS circuits. Major interest also lies on the efficient generation of the applied power-clock signal. This oscillating power supply can be used to save energy in short idle times by disconnecting circuits. An efficient way to generate the p...

  11. Comparison of real development levels of countries: Genesis and perspectives

    Directory of Open Access Journals (Sweden)

    Prekajac Zora

    2007-01-01

    Full Text Available Comparison of levels of development among countries is usually done by reducing values in national currencies with a common denominator, using the official exchange rate. Because of its unreality, the values calculated in this way do not illustrate real relations between compared countries. That brings about the launching of the UN International Comparison Project (latter Programme with two fold aims: developing a method for international comparison of real domestic product which could be applied to a number of very heterogeneous countries, and the comparison of growing number of very different countries. Until now six phases of comparisons are finished. Taking into consideration problems that appeared in the realization of the VI ICP phase as well as quality improvement proposals, a decision has been made to launch a new, global round for 2003-2006. Comparison will cover 150 countries (the widest coverage ever. This will give global character to the comparison, which was the end cause of the ICP.

  12. Transmutation of high-level radioactive waste - Perspectives

    CERN Document Server

    Junghans, Arnd; Grosse, Eckart; Hannaske, Roland; Kögler, Toni; Massarczyk, Ralf; Schwengner, Ronald; Wagner, Andreas

    2014-01-01

    In a fast neutron spectrum essentially all long-lived actinides (e.g. Plutonium) undergo fission and thus can be transmuted into generally short lived fission products. Innovative nuclear reactor concepts e.g. accelerator driven systems (ADS) are currently in development that foresee a closed fuel cycle. The majority of the fissile nuclides (uranium, plutonium) shall be used for power generation and only fission products will be put into final disposal that needs to last for a historical time scale of only 1000 years. For the transmutation of high-level radioactive waste a lot of research and development is still required. One aspect is the precise knowledge of nuclear data for reactions with fast neutrons. Nuclear reactions relevant for transmutation are being investigated in the framework of the european project ERINDA. First results from the new neutron time-of-flight facility nELBE at Helmholtz-Zentrum Dresden-Rossendorf will be presented.

  13. NOAA tsunami water level archive - scientific perspectives and discoveries

    Science.gov (United States)

    Mungov, G.; Eble, M. C.; McLean, S. J.

    2013-12-01

    The National Oceanic and Atmospheric Administration (NOAA) National Geophysical Data Center (NGDC) and co-located World Data Service for Geophysics (WDS) provides long-term archive, data management, and access to national and global tsunami data. Currently, NGDC archives and processes high-resolution data recorded by the Deep-ocean Assessment and Reporting of Tsunami (DART) network, the coastal-tide-gauge network from the National Ocean Service (NOS) as well as tide-gauge data recorded by all gauges in the two National Weather Service (NWS) Tsunami Warning Centers' (TWCs) regional networks. The challenge in processing these data is that the observations from the deep-ocean, Pacific Islands, Alaska region, and United States West and East Coasts display commonalities, but, at the same time, differ significantly, especially when extreme events are considered. The focus of this work is on how time integration of raw observations (10-seconds to 1-minute) could mask extreme water levels. Analysis of the statistical and spectral characteristics obtained from records with different time step of integration will be presented. Results show the need to precisely calibrate the despiking procedure against raw data due to the significant differences in the variability of deep-ocean and coastal tide-gauge observations. It is shown that special attention should be drawn to the very strong water level declines associated with the passage of the North Atlantic cyclones. Strong changes for the deep ocean and for the West Coast have implications for data quality but these same features are typical for the East Coast regime.

  14. Managing Technological Dynamics. A Transdisciplinary Perspective

    DEFF Research Database (Denmark)

    Drejer, Anders; Ulhøi, John Parm

    1998-01-01

    The authors of this paper represent different traditions and approaches to Management of Technology (MoT) and to Technology Studies (TS) at firm level. This offers an opportunity to develop a transdisciplinary perspective. MoT and TS, it is argued, can be addressed from rationalistic planning...

  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. 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...

  17. International perspective on repositories for low level waste

    International Nuclear Information System (INIS)

    Bergstroem, Ulla; Pers, Karin; Almen, Ylva

    2011-12-01

    Nuclear energy production gives rise to different types of radioactive waste. The use of nuclear isotopes within the research, industry and medical sectors also generates radioactive waste. To protect man and the environment from radiation the waste is isolated and contained by deposition in repositories. These repositories may have various designs regarding location, barriers etc depending on the potential danger of the waste. In Sweden, low- and intermediate level waste (LILW) is disposed of in the SFR repository in Forsmark. The repository is located 60 metres down into the bedrock under the bottom of the sea and covered by 6 metres of water. It is planned to extend SFR to accommodate decommissioning waste from the dismantling of the Swedish nuclear power facilities and also for the additional operation waste caused by the planned prolonged operation time. When planning the extension consultations will be carried out with the host municipality, authorities, organisations and general public. In planning the extension, SKB has performed a worldwide compilation of how other countries have, or plan to, handle the final disposal of similar wastes. The aim of this report is to give a brief description of LILW repositories worldwide; including general brief descriptions of many facilities, descriptions of the waste and the barriers as well as safety assessments for a few chosen repositories which represent different designs. The latter is performed, where possible, to compare certain features against the Swedish SFR. To provide a background and context to this study, international organisations and conventions are also presented along with internationally accepted principles regarding the management of radioactive waste. Similar to SFR, suitable locations for the repositories have, in many countries, been found at sites that already have, or used to have nuclear activities, such as reactor sites. Abandoned and disused mines, such as the salt mines in Germany, also

  18. International perspective on repositories for low level waste

    Energy Technology Data Exchange (ETDEWEB)

    Bergstroem, Ulla; Pers, Karin; Almen, Ylva (SKB International AB (Sweden))

    2011-12-15

    Nuclear energy production gives rise to different types of radioactive waste. The use of nuclear isotopes within the research, industry and medical sectors also generates radioactive waste. To protect man and the environment from radiation the waste is isolated and contained by deposition in repositories. These repositories may have various designs regarding location, barriers etc depending on the potential danger of the waste. In Sweden, low- and intermediate level waste (LILW) is disposed of in the SFR repository in Forsmark. The repository is located 60 metres down into the bedrock under the bottom of the sea and covered by 6 metres of water. It is planned to extend SFR to accommodate decommissioning waste from the dismantling of the Swedish nuclear power facilities and also for the additional operation waste caused by the planned prolonged operation time. When planning the extension consultations will be carried out with the host municipality, authorities, organisations and general public. In planning the extension, SKB has performed a worldwide compilation of how other countries have, or plan to, handle the final disposal of similar wastes. The aim of this report is to give a brief description of LILW repositories worldwide; including general brief descriptions of many facilities, descriptions of the waste and the barriers as well as safety assessments for a few chosen repositories which represent different designs. The latter is performed, where possible, to compare certain features against the Swedish SFR. To provide a background and context to this study, international organisations and conventions are also presented along with internationally accepted principles regarding the management of radioactive waste. Similar to SFR, suitable locations for the repositories have, in many countries, been found at sites that already have, or used to have nuclear activities, such as reactor sites. Abandoned and disused mines, such as the salt mines in Germany, also

  19. INTERNATIONAL BEHAVIOUR AND PERFORMANCE BASED ROMANIAN ENTREPRENEURIAL AND TRADITIONAL FIRM CLUSTERS

    Directory of Open Access Journals (Sweden)

    FEDER Emoke - Szidonia

    2015-07-01

    Full Text Available The micro, small and medium-sized firms (SMEs present a key interest at European level due to their potential positive influence on regional, national and firm level competitiveness. At a certain moment in time, internationalisation became an expected and even unavoidable strategy in firms’ future development, growth and evolution. From theoretical perspective, an integrative complementarily approach is adopted concerning the dominant paradigm of stage models from incremental internationalisation theory and the emergent paradigm of international entrepreneurship theory. Several researcher calls for empirical testing of different theoretical frameworks and international firms. Therefore, the first aim of the quantitative study is to empirically prove, the existence of various internationalisation behaviour configuration based clusters, like sporadic and traditional international firms, born-again global and born global firms, within the framework of Romanian SMEs. Secondly, within the research framework the study propose to assess different distinguishing internationalisation behavioural characteristics and patterns for the delimited clusters, in terms of foreign market scope, internationalisation pace and rhythm, initial and current entry modes, international product portfolio and commitment. Thirdly, internationalisation cluster membership and patterns differential influence and contribution is analysed on firm level international business performance, as internationalisation degree, financial and marketing measures. The framework was tested on a transversal sample consisting of 140 Romanian internationalised SMEs. Findings are especially useful for entrepreneurs and SME managers presenting various decisional possibilities and options on internationalisation behaviours and performance. These emphasize the importance of internationalisation scope, pace, object and opportunity seeking, along with positive influence on performance, indifferent

  20. Family firms and earnings management in Brazil: an analysis under the perspective of the take a bath and of the income smoothing

    Directory of Open Access Journals (Sweden)

    Paulo Sérgio Almeida-Santos

    2017-01-01

    Full Text Available Given the characteristics of family businesses, these are different from not-familiar companies, especially regarding its centralizing power and conservative, long-term strategic plans for the purpose of perpetuation of its business, while safeguarding the capital of the family group. For these and other reasons, family businesses have drawn the attention of researchers, especially in identifying the level of relationship between family ownership and the results of these companies. Opportunely, the purpose of this article theoretical-empirical, quantitative, documentary and descriptive, is to identify whether family-properties companies differ from other companies as not-familiar average production discretionary accruals, and as the coefficient of variation of profits on the change in sales; and identify the level of respect of family ownership with the practice of take a bath (production of negative discretionary accruals and smoothing (smoothing results among public companies Brazilian listed on the BM&FBOVESPA® in the period 2000-2010 . The results initially showed that family businesses tend to produce more negative discretionary accruals, as well as coefficients of variation of the ratio of profits on sales markedly more negative, causing them to differentiate themselves from other non-family businesses. Results obtained through logistic regression (logit and probit models, shows that family ownership is positively related to both the practice of take a bath as with smoothing, with the latter being a more statistically significant relationship.

  1. Social and cultural capital in project marketing service firms: Danish architectural firms on the German market

    DEFF Research Database (Denmark)

    Skaates, Maria Anne; Tikkanen, Henrikki; Alajoutsijärvi, Kimmo

    2002-01-01

    This article analyses the marketing activities of three Danish architectural firms in Germany during the 1990s from a perspective that is new to project marketing, in that the Bourdivan concepts of social and cultural capital are applied to the offerings and activities of firms. In architecture...... provide support for our claim that the accumulation of social and cultural capital is crucial to acquiring architectural projects, while also indicating that cultural and social capital are internationally transferable to a limited extent only. This in turn suggests that national construction industries...

  2. Perspective Tools of the Strategic Management of VFR Tourism Development at the Regional Level

    Science.gov (United States)

    Gorbunov, Aleksandr P.; Efimova, Ekaterina V.; Kobets, Margarita V.; Kilinkarova, Sofiya G.

    2016-01-01

    This study is aimed at identifying the perspective tools of strategic management in general and strategic planning of VFR tourism (for the purpose of visiting friends and relatives) at the regional level in particular. It is based on dialectical and logical methods, analysis and synthesis, induction and deduction, the concrete historical and…

  3. Activity Sets in Multi-Organizational Ecologies : A Project-Level Perspective on Sustainable Energy Innovations

    NARCIS (Netherlands)

    Gerrit Willem Ziggers; Kristina Manser; Bas Hillebrand; Paul Driessen; Josée Bloemer

    2014-01-01

    Complex innovations involve multi-organizational ecologies consisting of a myriad of different actors. This study investigates how innovation activities can be interpreted in the context of multi-organizational ecologies. Taking a project-level perspective, this study proposes a typology of four

  4. Predicting Dropout Using Student- and School-Level Factors: An Ecological Perspective

    Science.gov (United States)

    Wood, Laura; Kiperman, Sarah; Esch, Rachel C.; Leroux, Audrey J.; Truscott, Stephen D.

    2017-01-01

    High school dropout has been associated with negative outcomes, including increased rates of unemployment, incarceration, and mortality. Dropout rates vary significantly depending on individual and environmental factors. The purpose of our study was to use an ecological perspective to concurrently explore student- and school-level predictors…

  5. Level of Job Creativity among Learning Disabilities Teachers from Their Perspective in Kingdom of Saudi Arabia

    Science.gov (United States)

    Hamadneh, Burhan M.

    2016-01-01

    The current study aims to identify the level of job creativity among learning disabilities teachers from their perspective in Kingdom of Saudi Arabia, and investigate the differences according to gender, scientific qualification and years of experience. The study sample consisted of (80) male and female teachers, who were randomly selected from…

  6. Executive Function Is Necessary for Perspective Selection, Not Level-1 Visual Perspective Calculation: Evidence from a Dual-Task Study of Adults

    Science.gov (United States)

    Qureshi, Adam W.; Apperly, Ian A.; Samson, Dana

    2010-01-01

    Previous research suggests that perspective-taking and other "theory of mind" processes may be cognitively demanding for adult participants, and may be disrupted by concurrent performance of a secondary task. In the current study, a Level-1 visual perspective task was administered to 32 adults using a dual-task paradigm in which the secondary task…

  7. Firm Size as Moderator to Non-Linear Leverage-Performance Relation: An Emerging Market Review

    Directory of Open Access Journals (Sweden)

    Umar Farooq

    2017-08-01

    such losses are more prominent for small size firms. Results also show that the leverage-performance relation is nonlinear for medium and large size firms. However, these firms are not targeting optimal level and overleveraging that ultimately decrease their profits. So, financial managers of small size firms should avoid debt financing while for large and medium size firms, managers need to adjust their debt ratio to its optimal level.

  8. Dual structures for the sole-proprietorship firm

    OpenAIRE

    Chambers, Robert G.; Quiggin, John

    2003-01-01

    This paper presents a dual representation of firm-level and market-level equilibrium behavior for a sole proprietorship economy with competitive and frictionless financial markets and stochastic production opportunities in a two-period setting. The dual equilibrium model is used to state conditions for the firms' production choices to be independent of their risk preferences in equilibrium. These conditions entail Pareto optimality, but do not require either that the firm's consumption choice...

  9. Brief historical perspective on the definition of high-level nuclear wastes

    International Nuclear Information System (INIS)

    Jacobs, D.G.; Szluha, A.T.; Gablin, K.A.; Croff, A.G.

    1985-03-01

    This report constitutes a historical perspective on the definition of HLW with emphasis on the US situation. The major HLW definitions are summarized chronologically, including a categorization of the considerations (e.g., waste source, heat generation rate, radiological effects) forming the bases of the definitions. High-level waste (HLW) definitions are then discussed in terms of these considerations. A brief discussion of the institutional aspects of HLW regulation and management are presented. An appendix to the report constitutes an annotated, chronological bibliography that formed the basis of the perspective

  10. Strategies for knowledge management in law firms in Botswana

    Directory of Open Access Journals (Sweden)

    M.C. Fombad

    2009-02-01

    Full Text Available This article formulates a route map on how law firms in Botswana may utilise knowledge management to enhance their competitive edge amidst the changing legal environment. It draws from the multiple definitions and perspectives of knowledge management, several frameworks and models together with the empirical findings to recommend a strategy for knowledge management in law firms in Botswana. It underscores the fact that knowledge management is becoming an imperative for the survival of law firms as knowledge intensive organisations. Law firms in Botswana can no longer afford to rely on the traditional methods of managing knowledge because there is a need for the 'best minds' and the best knowledge in their area of practice. It is recommended that lawyers should be proactive, adaptive, innovative, effective and competitive in the provision of outstanding, cost-efficient and effective services to clients. Most previous studies in this area have been carried out in developed countries with large law firms.

  11. 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).

  12. 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...

  13. 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....

  14. 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...

  15. A multilevel perspective on faultlines: Differentiating the effects between group- and organizational-level faultlines.

    Science.gov (United States)

    Bezrukova, Katerina; Spell, Chester S; Caldwell, David; Burger, Jerry M

    2016-01-01

    Integrating the literature on faultlines, conflict, and pay, we drew on the basic principles of multilevel theory and differentiated between group- and organizational-level faultlines to introduce a novel multilevel perspective on faultlines. Using multisource, multilevel data on 30 Major League Baseball (MLB) teams, we found that group-level faultlines were negatively associated with group performance, and that internally focused conflict exacerbated but externally focused conflict mitigated this effect. Organizational-level faultlines were negatively related to organizational performance, and were most harmful in organizations with high levels of compensation. Implications for groups and teams in the sports/entertainment and other industries are discussed. (c) 2016 APA, all rights reserved).

  16. 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

  17. Resource based view of the firm as a theoretical lens on the organisational consequences of quality improvement.

    Science.gov (United States)

    Burton, Christopher R; Rycroft-Malone, Jo

    2014-08-01

    Evaluating the investment that healthcare organisations make in quality improvement requires knowledge of impact at multiple levels, including patient care, workforce and other organisational resources. The degree to which these resources help organisations to survive and thrive in the challenging contexts in which healthcare is designed and delivered is unknown. Investigating this question from the perspective of the Resource Based View (RBV) of the Firm may provide insights, although is not without challenge.

  18. Dynamic Embeddedness in Chinese Firm Internationalization

    DEFF Research Database (Denmark)

    Lattemann, Christoph; Alon, Ilan; Spigarelli, Francesca

    2017-01-01

    the resource-based view (firm-specific advantages), institutional-based view (push/pull home and host country factors), and network-based view (network relations). We also explicitly incorporate ”time” as a variable into our framework by introducing and explaining the concept of “dynamic embeddedness......This paper presents a multi-level framework to analyze the motivations and location choices of Chinese OFDIs. We contribute to theory-integration on Chinese OFDI flows and patterns by suggesting a framework that combines country-, industry- and firm-level analyses and by reflecting aspects from...

  19. Within- and cross-firm mobility and earnings growth

    DEFF Research Database (Denmark)

    Frederiksen, Anders; Halliday, Timothy; Koch, Alexander

    , we show that cross-firm moves at the non-executive level provide sizeable short-run gains (similar to the effect of a promotion), consistent with the existing literature. These gains, however, appear modest when compared with the persistent impact on earnings growth of promotions (either within...... or across firms) and subsequent mobility at a higher hierarchy level....

  20. 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...

  1. Results from levels 2/3 fusion implementations: issues, challenges, retrospectives, and perspectives for the future an annotated perspective

    Science.gov (United States)

    Kadar, Ivan; Bosse, Eloi; Salerno, John; Lambert, Dale A.; Das, Subrata; Ruspini, Enrique H.; Rhodes, Bradley J.; Biermann, Joachim

    2008-04-01

    Even though the definition of the Joint Director of Laboratories (JDL) "fusion levels" were established in 1987, published 1991, revised in 1999 and 2004, the meaning, effects, control and optimization of interactions among the fusion levels have not as yet been fully explored and understood. Specifically, this is apparent from the abstract JDL definitions of "Levels 2/3 Fusion" - situation and threat assessment (SA/TA), which involve deriving relations among entities, e.g., the aggregation of object states (i.e., classification and location) in SA, while TA uses SA products to estimate/predict the impact of actions/interactions effects on situations taken by the participant entities involved. Given all the existing knowledge in the information fusion and human factors literature, (both prior to and after the introduction of "fusion levels" in 1987) there are still open questions remaining in regard to implementation of knowledge representation and reasoning methods under uncertainty to afford SA/TA. Therefore, to promote exchange of ideas and to illuminate the historical, current and future issues associated with Levels 2/3 implementations, leading experts were invited to present their respective views on various facets of this complex problem. This paper is a retrospective annotated view of the invited panel discussion organized by Ivan Kadar (first author), supported by John Salerno, in order to provide both a historical perspective of the evolution of the state-of-the-art (SOA) in higher-level "Levels 2/3" information fusion implementations by looking back over the past ten or more years (before JDL), and based upon the lessons learned to forecast where focus should be placed to further enhance and advance the SOA by addressing key issues and challenges. In order to convey the panel discussion to audiences not present at the panel, annotated position papers summarizing the panel presentation are included.

  2. Female Employment and Firm Performance: An empirical analysis using firm panel data (Japanese)

    OpenAIRE

    YAMAMOTO Isamu

    2014-01-01

    This paper overviews the situation of female employment in listed Japanese companies using firm-level panel data after the 2000s, and demonstrates whether those companies utilizing female employment earn higher profits. The estimation results of fixed effect models show that a higher female proportion among regular employees significantly raises a company's profit rates, as measured by the return on assets. Particularly, it is shown that those firms with a female proportion of 30% to 40%, as ...

  3. Firm size and export performance: some empirical evidence

    OpenAIRE

    Owen Gabbitas; Paul Gretton

    2003-01-01

    This paper uses firm level data collected by the Australian Bureau of Statistics in its Business Longitudinal Survey to help fill the information gap about the characteristics of successful exporters. This study suggests that the main influences on export performance of Australian manufacturing firms may lie with a range of ‘firm-specific’ factors other than size or domestic market share. These potentially include: kind of activity, product design and quality, marketing expertise and the moti...

  4. Managerial capacity in the innovation process and firm profitability

    OpenAIRE

    Giovanni Cerulli; Bianca Potì

    2013-01-01

    This paper studies at firm level the relation between managerial capacity in doing innovation and profitability. Moving along the intersection between the evolutionary/neo-Schumpeterian theory and the Resource-Based-View of the firm, we prove econometrically that managerial efficiency in mastering the production of innovation is an important determinant of firm innovative performance and market success, and that it complements traditional Schumpeterian drivers. By using a Stochastic Frontier ...

  5. A note on unionized firms' incentive to integrate vertically

    OpenAIRE

    Grandner, Thomas

    2000-01-01

    In this paper I analyze a vertically structured monopolized market with unionized firms. I compare two types of contracts: vertical integration and franchising. With franchising and wage bargaining at the firm level the union in the downstream firm is either very powerful or has no bargaining power at all, depending on the specific time structure of the model. These arguments could make integration preferable for the profit owners even if integration is accompanied by small transaction costs....

  6. Environmental Compliance by Firms in the Manufacturing Sector in Mexico

    OpenAIRE

    Lata Gangadharan

    2003-01-01

    To date, little empirical evidence exists to help regulators understand why some firms comply even when there is little financial incentive to do so and others continually violate environmental regulations. This paper examines data on compliance with environmental regulations within the manufacturing sector in Mexico. The probability of complying depends, among other factors, on the kind of management practices of the firm and the level of environmental training. Some firms in the manufacturi...

  7. 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

  8. 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....

  9. Continuous improvement for the firm's competitiveness: implementation of a new management model

    Directory of Open Access Journals (Sweden)

    Rabia Azzemou

    2018-01-01

    Full Text Available To get ready for the hard international competition, firms have to convince themselves of the pressing necessity of optimizing its competitiveness factors. In this perspective, this article proposes a general model of management system of firms through the implementation of tools of Lean Manu-facturing. This method establishes an approach to introduce an action plan to improve the perfor-mance of a firm. Knowing that the Algerian firms do not escape the constraints of competitiveness, the adopted model is applied to two strategic firms of the Algerian industry and the final result gives a series of measures to improve their competitiveness and their performances, simultaneously.

  10. Mental traveling along psychological distances: The effects of cultural syndromes, perspective flexibility, and construal level.

    Science.gov (United States)

    Wong, Vincent Chi; Wyer, Robert S

    2016-07-01

    Individuals' psychological distance from the stimuli they encounter in daily life can influence the abstractness or generality of the mental representations they form of these stimuli. However, these representations can also depend on the perspective from which the stimuli are construed. When individuals have either an individualistic social orientation or a short-term temporal orientation, they construe psychologically distal events more globally than they construe proximal ones, as implied by construal level theory (Trope & Liberman, 2010). When they have either a collectivistic social orientation or a long-term temporal orientation, however, they not only construe the implications of distal events more concretely than individuals with an egocentric perspective but also construe the implications of proximal events in more abstract terms. These effects are mediated by the flexibility of the perspectives that people take when they make judgments. Differences in perspective flexibility account for the impact of both situationally induced differences in social and temporal orientation and more chronic cultural differences in these orientations. (PsycINFO Database Record (c) 2016 APA, all rights reserved).

  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. Firm Characteristics and Performance Disclosure in Annual Reports of Nigerian Banks using the Balanced Scorecard

    Directory of Open Access Journals (Sweden)

    Solabomi Ajibolade

    2017-05-01

    Full Text Available This study investigated the influence of four firm characteristics (size, organisational structure, age and systemic importance on extent of performance disclosures by Nigerian banks using the balanced scorecard (BSC model. The population of the study comprised of publicly-listed banks in Nigeria, in operation from 2012 to 2014. Using a self-designed disclosure checklist, the annual reports of a sample of 15 publicly quoted banks in Nigeria were content-analysed for performance disclosure for the period 2012-2014. Descriptive statistics, t-test and Analysis of Variance (ANOVA were applied in data analysis, deducing inference at 5% significance level. It was observed that firms did not significantly differ in the extent of performance disclosure in each of the four BSC perspectives on one hand, and the overall BSC measure on the other hand, on the account of the four firm attributes examined. Considering that annual reports are mainstream amongst the media used to communicate firm performance to the public, it was recommended that preparers of such documents should consider disclosing financial and non-financial performance; this will not only provide a comprehensive basis to judge organisational performance, but will also assist in diffusing the clout created by asymmetry of information between preparers and users of performance reports.

  13. 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.

  14. 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.

  15. 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...

  16. LEVEL OF COMPETENCIES OF FAMILY PHYSICIANS IN KOSOVO FROM DIFFERENT PERSPECTIVES.

    Science.gov (United States)

    Bojaj, Gazmend; Skeraj, Fitim; Czabanowska, Katarzyna; Burazeri, Genc

    2016-10-01

    The aim of this analysis was to compare the level of self-perceived competencies of primary health care physicians in Kosovo with patients' viewpoint, as well as the necessary (required) level of such competencies from decision-makers' standpoint. Three cross-sectional studies were carried out in Kosovo in 2013 including: i) a representative sample of 1340 primary health care users aged ≥18 years (49% men; overall mean age: 50.5±17.9 years; response rate: 89%); ii) a representative sample of 597 primary health care physicians (49% men; overall mean age: 46.0±9.4 years; response rate: 90%), and; iii) a nationwide representative sample of 100 decision-makers operating at different primary health care institutions or public health agencies in Kosovo (63% men; mean age: 47.7±5.7 years). A structured self-administered questionnaire (consisting of 37 items) was used in the three surveys in order to assess physicians' competencies regarding different domains of the quality of health care. There was a significant gap in the level of self-perceived physicians' competencies and patients' perspective in transitional Kosovo. Furthermore, there was a gap in the level of self-perceived physicians' competencies and the necessary (required) level of physicians' competencies from decision-makers perspective which was less evident in Prishtina, but considerable in the other regions of Kosovo. Our analysis provides valuable evidence about the level of competencies of primary health care physicians in Kosovo from different stakeholders' perspectives. There is an urgent need for continuous professional development of family physicians in post-war Kosovo.

  17. Currency Denomination of Bank Loans : Evidence from Small Firms in Transition Countries

    NARCIS (Netherlands)

    Brown, M.; Ongena, S.; Yesin, P.

    2008-01-01

    We examine the firm-level and country-level determinants of the currency denomination of small business loans. We introduce an information asymmetry between banks and firms in a model that also features the trade-off between the cost of debt and firm-level distress costs. Banks in our model don’t

  18. The Dispersion of Employees' Wage Increases and Firm Performance

    DEFF Research Database (Denmark)

    Grund, Christian; Westergård-Nielsen, Niels Chr.

    does not induce any monetary incentives. Evidence from unique Danish linked employer employee data shows that large dispersion of wage growth within firms is generally connected with low firm performance. The results are mainly driven by white collar rather than blue collar workers.......In this contribution, we examine the interrelation between intra-firm wage increases and firm performance. Previous studies have focused on the dispersion of wages in order to examine for the empirical dominance of positive monetary incentives effects compared to adverse effects due to fairness...... considerations. We argue that the dispersion of wage increases rather than wage levels is a crucial measure for monetary incentives in firms. The larger the dispersion of wage increases the higher the amount of monetary incentives in firms. In contrast, huge wage inequality without any promotion possibilities...

  19. Panel Data Models of New Firm Formation in New England

    Directory of Open Access Journals (Sweden)

    Jitendra Parajuli

    2017-10-01

    Full Text Available This study examines the impact of the determinants of new firm formation in New England at the county level from 1999 to 2009. Based on the Spatial Durbin panel model that accounts for spillover effects, it is found that population density and human capital positively affect single-unit firm births within a county and its neighbors. Population growth rate also exerts a significant positive impact on new firm formation, but most of the effect is from spatial spillovers. On the contrary, the ratio of large to small firm in terms of employment size and unemployment rate negatively influence single-unit firm births both within counties and among neighbors. However, there is no significant impact of local financial capital and personal income growth on new firm formation.

  20. Technical efficiency of FDI firms in the Vietnamese manufacturing sector

    Directory of Open Access Journals (Sweden)

    Vu Hoang Duong

    2016-09-01

    Full Text Available The study examines technical efficiency of Foreign Direct Investment (FDI firms in the Vietnamese manufacturing sector by applying stochastic production frontier model and making use of cross-sectional data in the period 2009-2013. The average level of technical efficiency of FDI firms is about 60% and it is higher than that of domestic firms (including private firms and state-owned firms. In addition, the study also analyses correlation between technical efficiency of FDI firms and other factors. It finds that there are positive correlations between FDI technical efficiency and net revenue per labour, firm’s age or export activities in 2013. However, the study is unable to find evidence of a relationship between FDI technical efficiency and infrastructure or firm’s investment activities.

  1. Ontology-Based Model Of Firm Competitiveness

    Science.gov (United States)

    Deliyska, Boryana; Stoenchev, Nikolay

    2010-10-01

    Competitiveness is important characteristics of each business organization (firm, company, corporation etc). It is of great significance for the organization existence and defines evaluation criteria of business success at microeconomical level. Each criterium comprises set of indicators with specific weight coefficients. In the work an ontology-based model of firm competitiveness is presented as a set of several mutually connected ontologies. It would be useful for knowledge structuring, standardization and sharing among experts and software engineers who develop application in the domain. Then the assessment of the competitiveness of various business organizations could be generated more effectively.

  2. The determinants of firm exit in the French food industries

    OpenAIRE

    Blanchard, Pierre; Mathieu, Claude

    2012-01-01

    A semi-parametric approach is used to estimate firm propensity to exit. The unobserved individual productivity of a firm is first estimated using the Ackerberg et al. (2006) approach and then introduced as a determinant of firm exit in conjunction with other variables that may serve as barriers to exit, including the firm’s level of sunk costs and the industry concentration. Using an unbalanced panel of data for 5,849 firms in French food industries from 1996 to 2002, we find a signifi...

  3. 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...

  4. Entry Mode and Performance of Nordic Firms

    DEFF Research Database (Denmark)

    Wulff, Jesper

    2015-01-01

    including the proposed moderating effect, on average, yield higher post-entry performance. This study sheds light on inconsistent results found in previous research investigating the impact of international experience and has practical implications for managerial decision-making.......This study investigates whether the relationship between mode of international market entry and non-location bound international experience is weaker for firms that are large or have a high foreign to total sales ratio, labeled multinational experience. Empirical evidence based on 250 foreign...... market entries made by Norwegian, Danish and Swedish firms suggests that the association between equity mode choice and non-location bound international experience diminishes in the presence of higher levels of multinational experience. Furthermore, firms whose entry mode choice is predicted by the model...

  5. Human capital and wages in exporting firms

    DEFF Research Database (Denmark)

    Munch, Jakob Roland; Skaksen, Jan Rose

    2008-01-01

    This paper studies the link between the education level of workers, export performance and wages. 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...

  6. Macroeconomic shocks and firms' labor adjustment

    DEFF Research Database (Denmark)

    Eriksson, Tor

    2013-01-01

    This article discusses some recent research which aims at producing evidence on how firms adjust their employment in response to output shocks using micro-level data and with a particular focus on the relationship between worker and job flows. The evidence presented is mainly based on Danish data...

  7. Digital Maturity of the Firm's Business Model

    DEFF Research Database (Denmark)

    Groskovs, Sergejs; Vemula, Sreekanth

    We propose a digital maturity assessment model as an instrument for researchers and a strategic tool for managers. Existing literature lacks a conceptually clear way to measure the construct of digital maturity at the level of the firms business model. Our proposed instrument thus opens avenues f...

  8. Which Way for the Kenyan Manufacturing Firms?

    African Journals Online (AJOL)

    User

    2011-07-21

    Jul 21, 2011 ... Indexed African Journals Online: www.ajol.info. An International ... In this paper, firm level panel data for Kenyan manufacturing sector is used ... profits abroad. ... 2. the national income or growth accounting approach which uses .... TFP = productivity measured as value added i.e. total output minus value of.

  9. Department of Energy perspective on high-level waste standards for Yucca Mountain

    International Nuclear Information System (INIS)

    Brocoum, S.J.; Gil, A.V.; Van Luik, A.E.; Lugo, M.A.

    1996-01-01

    This paper provides a regulatory perspective from the viewpoint of the potential licensee, the U.S. Department of Energy (DOE), on the National Academy of Sciences (NAS) report on Yucca Mountain standards issued in August 1995, and on how the recommendations in that report should be considered in the development of high-level radioactive waste standards applicable to Yucca Mountain. The paper first provides an overview of the DOE perspective and then discusses several of the issues that are of most importance in the development of the regulatory framework for Yucca Mountain, including both the U.S. Environmental Protection Agency (EPA) standard and the U.S. Nuclear Regulatory Commission (NRC) implementing regulation. These issues include: the regulatory time frame, the risk/dose limit, the definition of the reference biosphere, human intrusion, and natural processes and events

  10. Instantiating the multiple levels of analysis perspective in a program of study on externalizing behavior

    Science.gov (United States)

    Beauchaine, Theodore P.; Gatzke-Kopp, Lisa M.

    2014-01-01

    During the last quarter century, developmental psychopathology has become increasingly inclusive and now spans disciplines ranging from psychiatric genetics to primary prevention. As a result, developmental psychopathologists have extended traditional diathesis–stress and transactional models to include causal processes at and across all relevant levels of analysis. Such research is embodied in what is known as the multiple levels of analysis perspective. We describe how multiple levels of analysis research has informed our current thinking about antisocial and borderline personality development among trait impulsive and therefore vulnerable individuals. Our approach extends the multiple levels of analysis perspective beyond simple Biology × Environment interactions by evaluating impulsivity across physiological systems (genetic, autonomic, hormonal, neural), psychological constructs (social, affective, motivational), developmental epochs (preschool, middle childhood, adolescence, adulthood), sexes (male, female), and methods of inquiry (self-report, informant report, treatment outcome, cardiovascular, electrophysiological, neuroimaging). By conducting our research using any and all available methods across these levels of analysis, we have arrived at a developmental model of trait impulsivity that we believe confers a greater understanding of this highly heritable trait and captures at least some heterogeneity in key behavioral outcomes, including delinquency and suicide. PMID:22781868

  11. 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 ...

  12. Relationship between Corporate Governance Indicators and Firm Value: A Case Study of Karachi Stock Exchange

    OpenAIRE

    Javed, Attiya Y.; Iqbal, Robina

    2007-01-01

    We investigated whether differences in quality of firm-level corporate governance can explain the firm-level performance in a cross-section of companies listed at Karachi Stock Exchange. Therefore, we analysed the relationship between firm-level value as measured by Tobin’s Q and total Corporate Governance Index (CGI) and three sub-indices: Board, Shareholdings and Ownership, and Disclosures and Transparency for a sample of 50 firms. The results indicate that corporate gover...

  13. The Relationship between Corporate Governance Indicators and Firm Value: A Case Study of Karachi Stock Exchange

    OpenAIRE

    Attiya Y. Javed; Robina Iqbal

    2007-01-01

    We investigated whether differences in quality of firm-level corporate governance can explain the firm-level performance in a cross-section of companies listed at Karachi Stock Exchange. Therefore, we analysed the relationship between firm-level value as measured by Tobins Q and total Corporate Governance Index (CGI) and three sub-indices : Board, Shareholdings and Ownership, and Disclosures and Transparency for a sample of 50 firms. The results indicate that corporate governance does matter ...

  14. 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.

  15. 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...

  16. 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...

  17. 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.

  18. 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 ...

  19. Human Resource Management With Small Firms; Facts And Explanations

    NARCIS (Netherlands)

    J.M.P. de Kok (Jan); L.M. Uhlaner (Lorraine); A.R. Thurik (Roy)

    2003-01-01

    textabstractThis study examines determinants of the formalization of HRM practices with small firms. We derive five hypotheses that identify possible determinants of the level of formalization, including firm size, family business, the availability of an HRM department or HRM manager, and the

  20. Life Cycle Characteristics of Small Professional Service Firms

    NARCIS (Netherlands)

    Masurel, E.; van Montfort, C.A.G.M.

    2006-01-01

    Our study of professional services firms clearly revealed that firms change over the course of their life cycles. During the first three stages, diversification in sales, the differentiation in labor force, and the level of labor productivity increase. In the last stage, diversification in sales,

  1. Do Firms Replenish Executives’ Incentives After Equity Sales?

    NARCIS (Netherlands)

    Ladika, T.

    2013-01-01

    After selling firm equity, executives' incentives to maximize shareholder value may decrease. How do boards respond? Theory shows boards can restore executives' incentives by shifting subsequent pay from cash toward equity. Unobservable firm-level changes that cause executives to sell equity and

  2. Firms, Nonprofits, and Cooperatives : A Theory of Organizational Choice

    NARCIS (Netherlands)

    Herbst, P.; Prüfer, J.

    2007-01-01

    This paper formalizes the difference between firms, nonprofits, and cooperatives and identifies optimal organizational choice. In a model of quality provision, we find a clear ranking of quality produced: Firms provide lowest and nonprofits highest levels of quality. Efficiency, however, depends on

  3. Firms, Nonprofits, and Cooperatives : A Theory of Organizational Choice

    NARCIS (Netherlands)

    Herbst, P.; Prüfer, J.

    2007-01-01

    Abstract This paper formalizes the difference between firms, nonprofits, and cooperatives and identifies optimal organizational choice. In a model of quality provision, we find a clear ranking of quality produced: Firms provide lowest and nonprofits highest levels of quality. Efficiency, however,

  4. Implementing Firm Dynamic Capabilities Through the Concept Design Process

    DEFF Research Database (Denmark)

    Nedergaard, Nicky; Jones, Richard

    2011-01-01

    It is well understood that firms operating in highly dynamic and fluid markets need to possess strong dynamic capabilities of sensing (market trajectories), seizing (to capitalise on these trajectories), and transformation (in order to implement sustainable strategies). Less understood is how firms...... actually implement these capabilities. A conceptual model showing how managing concept design processes can help firms systematically develop dynamic capabilities and help bridge the gap between the market-oriented and resource-focused strategic perspectives is presented. By placing this model in a design......-driven innovation perspective three theoretical propositions is derived explicating both the paper’s implementation approach to dynamic capabilities as well as new ways of understanding these capabilities. Concluding remarks are made discussing both the paper’s contribution to the strategic marketing literature...

  5. 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...

  6. Closing the Energy Efficiency Gap—A Systematic Review of Empirical Articles on Drivers to Energy Efficiency in Manufacturing Firms

    Directory of Open Access Journals (Sweden)

    Mette Talseth Solnørdal

    2018-02-01

    Full Text Available Research has identified an extensive potential for energy efficiency within the manufacturing sector, which is responsible for a substantial share of global energy consumption and greenhouse gas emissions. The purpose of this study is to enhance the knowledge of vital drivers for energy efficiency in this sector by providing a critical and systematic review of the empirical literature on drivers to energy efficiency in manufacturing firms at the firm level. The systematic literature review (SLR is based on peer-reviewed articles published between 1998 and 2016. The findings reveal that organizational and economic drivers are, from the firms’ perspective, the most prominent stimulus for energy efficiency and that they consider policy instruments and market drivers to be less important. Secondly, firm size has a positive effect on the firms’ energy efficiency, while the literature is inconclusive considering sectorial impact. Third, the studies are mainly conducted in the US and Western European countries, despite the fact that future increase in energy demand is expected outside these regions. These findings imply a potential mismatch between energy policy-makers’ and firm mangers’ understanding of which factors are most important for achieving increased energy efficiency in manufacturing firms. Energy policies should target the stimulation of management, competence, and organizational structure in addition to the provision of economic incentives. Further understanding about which and how internal resources, organizational capabilities, and management practices impact energy efficiency in manufacturing firms is needed. Future energy efficiency scholars should advance our theoretical understanding of the relationship between energy efficiency improvements in firms, the related change processes, and the drivers that affect these processes.

  7. Determinants of success and failure in the internationalisation of the cork business: A tale of two Iberian family firms

    OpenAIRE

    João Lopes; Amélia Branco; Francisco Parejo; Jose Rangel

    2014-01-01

    The trajectories of internationalisation followed by family firms can be viewed from several theoretical approaches ? phases of the internationalisation process; international entrepreneurship, sociological perspective, family business theory. An historical perspective of the internationalised family firms, allowing the integration of these several approaches, is useful to a deep understanding of the internationalisation process of different sectors and countries. The main purpose of this pap...

  8. Determinants of Success and Failure in Internationalisation of the Cork Business: a Tale of Two Iberian Family Firms

    OpenAIRE

    Amélia Branco,; Francisco Parejo,; João Carlos Lopes; José Francisco Rangel

    2014-01-01

    The trajectories of internationalisation followed by family firms can be viewed from several theoretical approaches: phases and models of the internationalisation process; international entrepreneurship, the sociological perspective and family business theory. A historical perspective of internationalised family firms, allowing for the integration of the abovementioned approaches, is useful to obtain a deep understanding of the internationalisation process of different sectors and of differen...

  9. 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.

  10. Toward a Theory of Industrial Supply Networks: A Multi-Level Perspective via Network Analysis

    Directory of Open Access Journals (Sweden)

    Yi Zuo

    2017-07-01

    Full Text Available In most supply chains (SCs, transaction relationships between suppliers and customers are commonly considered to be an extrapolation from a linear perspective. However, this traditional linear concept of an SC is egotistic and oversimplified and does not sufficiently reflect the complex and cyclical structure of supplier-customer relationships in current economic and industrial situations. The interactional relationships and topological characteristics between suppliers and customers should be analyzed using supply networks (SNs rather than traditional linear SCs. Therefore, this paper reconceptualizes SCs as SNs in complex adaptive systems (CAS, and presents three main contributions. First, we propose an integrated framework of CAS network by synthesizing multi-level network analysis from the network-, community- and vertex-perspective. The CAS perspective enables us to understand the advances of SN properties. Second, in order to emphasize the CAS properties of SNs, we conducted a real-world SN based on the Japanese industry and describe an advanced investigation of SN theory. The CAS properties help in enriching the SN theory, which can benefit SN management, community economics and industrial resilience. Third, we propose a quantitative metric of entropy to measure the complexity and robustness of SNs. The results not only support a specific understanding of the structural outcomes relevant to SNs, but also deliver efficient and effective support to the management and design of SNs.

  11. Does Partner Volatility Have Firm Value Relevance? An Empirical Analysis of Part Suppliers

    OpenAIRE

    Insung Son; Sihyun Kim

    2018-01-01

    Considering the lifecycle of products, firms are releasing new products through diversified strategic partnerships via the global supply chain. As the uncertainty about the future increases and strategic partnership grows more important, part suppliers are becoming more and more significant in assessing firm value. From the perspective of the signaling effect, this study analyzed the impact of partner volatility (new partner, old partner, revocation partner) on firm value in terms of global s...

  12. Strategic Orientation in the Globalization of Software Firms

    Science.gov (United States)

    Dedrick, Jason; Kraemer, Kenneth L.; Carmel, Erran; Dunkle, Debora

    In the search for profits, software firms are globalizing their development activities. Some firms achieve greater profits by becoming more efficient, whereas others do so by reaching new markets; some do both. This paper creates an a priori typology of strategies based on the extent to which firms are focused on operational improvement or market access, have a dual focus or are unfocused. We find that firms with these strategies differ in degree of internationalization, organization of offshoring and performance outcomes related to offshoring. Market-oriented firms receive a greater proportion of their total revenue from sales outside the U.S., showing a greater international orientation. They keep more of their offshore development in-house via captive operations. They also are most likely to report increased non-U.S. sales as a result of offshoring. On the other hand, operations-oriented firms have lower levels of international sales, are more likely to go offshore via outsourced software development, and achieve greater costs savings and labor force flexibility as a result of offshoring. Operations-oriented firms also face more obstacles in offshoring, perhaps because of their reliance on outsourcing. Dual focus firms generally achieve some of the best of both strategies, whereas unfocused firms achieve lower cost benefits.

  13. CAPITAL STRUCTURE OF UKRAINIAN NON-FINANCIAL COMPANIES IN HISTORICAL PERSPECTIVE

    Directory of Open Access Journals (Sweden)

    D. Chernenko

    2018-01-01

    Full Text Available This paper examines the dynamics of Ukrainian non-financial firms' capital structure within a historical perspective. It shows that firm financing since 1990 was a derivative from economic and institutional changes, and current levels of leverage are lower than ones of foreign peers. Whereas in the short-term we can expect some market recovery, long-term dynamics relies almost exclusively on the successof institutional reforms.

  14. Scale and technological factors in the diversification structure of business firms

    NARCIS (Netherlands)

    Castaldi, C; Milakovic, M; Secchi, A

    We present empirical evidence on diversification patterns in Italian manufacturing firms, where we observe a robust relationship between firm size and diversification levels. The overall findings support the 'resource-' and 'competence-based' theories of corporate diversification. In addition, we

  15. 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...

  16. A Multi-Level Systems Perspective for the Science of Team Science

    Science.gov (United States)

    Börner, Katy; Contractor, Noshir; Falk-Krzesinski, Holly J.; Fiore, Stephen M.; Hall, Kara L.; Keyton, Joann; Spring, Bonnie; Stokols, Daniel; Trochim, William; Uzzi, Brian

    2012-01-01

    This Commentary describes recent research progress and professional developments in the study of scientific teamwork, an area of inquiry termed the “science of team science” (SciTS, pronounced “sahyts”). It proposes a systems perspective that incorporates a mixed-methods approach to SciTS that is commensurate with the conceptual, methodological, and translational complexities addressed within the SciTS field. The theoretically grounded and practically useful framework is intended to integrate existing and future lines of SciTS research to facilitate the field’s evolution as it addresses key challenges spanning macro, meso, and micro levels of analysis. PMID:20844283

  17. Energy price uncertainty, energy intensity and firm investment

    International Nuclear Information System (INIS)

    Yoon, Kyung Hwan; Ratti, Ronald A.

    2011-01-01

    This paper examines the effect of energy price uncertainty on firm-level investment. An error correction model of capital stock adjustment is estimated with data on U.S. manufacturing firms. Higher energy price uncertainty is found to make firms more cautious by reducing the responsiveness of investment to sales growth. The result is robust to consideration of energy intensity by industry. The effect is greater for high growth firms. It must be emphasized that the direct effect of uncertainty is not estimated. Conditional variance of energy price is obtained from a GARCH model. Findings suggest that stability in energy prices would be conducive to greater stability in firm-level investment. (author)

  18. 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...

  19. 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...

  20. 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

  1. 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

  2. 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

  3. Expansion patterns of Dutch firms in Central and Eastern Europe : Learning to internationalize

    NARCIS (Netherlands)

    Drogendijk, H.J.

    2001-01-01

    In this study, the internationalization decisions of firms are looked at from a dynamic perspective. Internationalizing firms gradually build the experience that help them to reduce uncertainty and expand further into new international markets. Earlier experiences are seen as stepping stones that

  4. The Resource-Based View and Value: The Customer-Based View of the Firm

    Science.gov (United States)

    Clulow, Val; Barry, Carol; Gerstman, Julie

    2007-01-01

    Purpose: The resource-based view (RBV) explores the role of key resources, identified as intangible assets and capabilities, in creating competitive advantage and superior performance. To a great extent the conceptual analysis and empirical research within the RBV has focused on the firm's perspective of key resources and the value to the firm of…

  5. 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.

  6. What results when firms implement practices: the differential relationship between specific practices, firm financial performance, customer service, and quality.

    Science.gov (United States)

    Gibson, Cristina B; Porath, Christine L; Benson, George S; Lawler, Edward E

    2007-11-01

    Previous research on organizational practices is replete with contradictory evidence regarding their effects. Here, the authors argue that these contradictory findings may have occurred because researchers have often examined complex practice combinations and have failed to investigate a broad variety of firm-level outcomes. Thus, past research may obscure important differential effects of specific practices on specific firm-level outcomes. Extending this research, the authors develop hypotheses about the effects of practices that (a) enable information sharing, (b) set boundaries, and (c) enable teams on 3 different firm-level outcomes: financial performance, customer service, and quality. Relationships are tested in a sample of observations from over 200 Fortune 1000 firms. Results indicate that information-sharing practices were positively related to financial performance 1 year following implementation of the practices, boundary-setting practices were positively related to firm-level customer service, and team-enabling practices were related to firm-level quality. No single set of practices predicted all 3 firm-level outcomes, indicating practice-specific effects. These findings help resolve the theoretical tension in the literature regarding the effects of organizational practices and offer guidance as to how to best target practices to increase specific work-related outcomes. Implications for theory, research, and practice are discussed. (c) 2007 APA

  7. RECENT THEORIES OF THE FIRM: A CRITICAL APPROACH

    Directory of Open Access Journals (Sweden)

    Pacala Anca

    2012-07-01

    Full Text Available Besides the classical theories of the firms as complete or incomplete contract theories, in the last decades there were developed some new theories bringing new perspectives and approaches. Among these new perspectives we are presenting in this paper the evolutionary theory of the firm, the importance of resources and knowledge, and game theory. According to evolutionary theory the most important element for a firm is the company itself and its specific assets (physical and human. Evolutionist theories, in their diversity, are interested in issues such as the effects of changes in the long run within the firms, in terms of products, processes, decisions, analysis of the determinants of success. Resource and knowledge -based theories try to find a common point between transactions and organizational management analysis, focusing on development issues within companies, the importance of business strategy and achieving competitive advantages. Finally, cooperative game theory sees the firm as a coalition of various parts that compose it, emphasizing the importance of cooperative relations between employees and shareholders, risk sharing and effective collective skills, knowledge and funds using.

  8. Influence of management style on employee views of corporate reputation. Application to audit firms

    Directory of Open Access Journals (Sweden)

    Isabel Olmedo-Cifuentes

    2014-10-01

    Full Text Available In the current economic context where the behaviour of firms is carefully examined by the markets, the corporate reputation which is generated by organisations among their stakeholders may facilitate their success. Since employees are actively involved in its shaping and influence the overall perception of the firm's corporate reputation, the aim of this research is to improve the management of the employee views of reputation in order to increase its global evaluation. To do this, we analyse whether the existence of a characteristic management style influences the employee views of reputation, studying the effect of control variables such as employee age, gender, level of education or job position. Using a sample of 148 employees of Spanish accounting audit firms, we develop a specific tool for measuring the reputation from the employee perspective of service SMEs, as well as confirming that a strong participative management style promotes a better perception of reputation by employees than a competitive style. Hence, this study reflects that men prefer a competitive management style. Also, a high level of education along with job position has a positive impact on the preference of a participative style with the job position being the main moderating variable of the proposed model.

  9. A perspective on demonstrating compliance with standards for disposal of high-level radioactive wastes

    International Nuclear Information System (INIS)

    Kocher, D.C.; Smith, E.D.; O'Kelley, G.D.; Sjoreen, A.L.

    1985-01-01

    A perspective which the authors have developed on the problem of demonstrating that geologic repositories for the disposal of high-level radioactive wastes will comply with system performance standards is discussed. Their viewpoint arises from a concern that the U.S. Environmental Protection Agency's proposed environmental standard for high-level waste disposal appears to require demonstrations of compliance which are incompatible with scientific knowledge; i.e., the standard does not take into account the likely importance of unquantifiable and unresolvable uncertainty in repository performance-assessment models. A general approach to demonstrations of compliance is proposed which is thought to be compatible with the kinds of technical information that will be available for judging long-term repository performance. The authors' approach emphasizes the importance of investigating alternative conceptual models and lines of reasoning in evaluating repository performance and the importance of subjective scientific judgment in the decision-making process. (Auth.)

  10. Perspective on demonstrations of compliance for high-level waste disposal

    International Nuclear Information System (INIS)

    Kocher, D.C.; Smith, E.D.; O'Kelly, G.D.; Sjoreen, A.L.

    1984-01-01

    This paper discusses a perspective which we have developed on the problem of demonstrating compliance of high-level waste repositories with system performance standards. Our viewpoint arises from two primary concerns - first, that the US Environmental Protection Agency's proposed environmental standard for high-level waste disposal appears to require demonstrations of compliance which are incompatible with scientific knowledge, and, second, that the federal agencies involved in the licensing process may not appreciate fully the extent of unquantifiable and uresolvable uncertainty in repository performance-assessment models. We propose a general approach to demonstrations of compliance which we feel is compatible with the kinds of technical information that will be available for judging repository performance. Our approach emphasizes the importance of investigation alternative conceptual models and lines of reasoning in evaluating repository performance and the importance of subjective scientific judgment in the desision-making process. 24 references, 1 figure

  11. 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.

  12. Firms' innovation benefiting from networking and institutional support

    DEFF Research Database (Denmark)

    Schøtt, Thomas; Jensen, Kent Wickstrøm

    2016-01-01

    Firms' networking for innovation is embedded in institutions of society, where national policies are increasingly designed to provide institutional support for firms' networking and thereby benefit innovation. But, globally, what are the quantitative and qualitative effects of institutional support...... for networking and, in turn, for innovation? 68 countries with 18,880 firms were surveyed in the Global Entrepreneurship Monitor, enabling generalization to the firms in the countries around the world. Two-level modeling shows that firms' networking benefits both process and product innovation. Institutional...... support does not significantly affect quantity of networking, but greatly enhances quality of networking in the sense that support for networking in a country enhances the benefits of networking for both process and product innovation. Contrasting low and high support for networking leads to estimating...

  13. Firm-Level Corruption in Vietnam

    DEFF Research Database (Denmark)

    Rand, John; Tarp, Finn

    2012-01-01

    and government contracts. Third, the observed decrease in bribe incidence between 2005 and 2007 is largely driven by significant behavioral changes. These behavioral changes seem to be associated with policy initiatives to improve law enforcement and increased media focus on punitive actions against corruption....

  14. Influence of cultural mechanisms on horizontal inter-firm collaborations

    Directory of Open Access Journals (Sweden)

    José Ramón Vilana

    2010-06-01

    Full Text Available The evolution of organizations that work in multinational environments has considerably altered their production strategies. One of the consequences has been the appearance of Horizontal Inter-firm Collaborations (HICs, which include all kinds of enterprises and production centres and establish a new type of horizontal collaborations and relations between independent companies or even competitors who establish occasional collaborations on projects they could not take on individually. HICs are dynamically changing organizations formed by Original Equipment Manufacturers (OEMs, Contract Manufacturers (CMs, turn-key and component suppliers, R+D centres and distributors. The dynamic relations that exist within the HICs allow them a very permeable organization easy to connect and disconnect from one to each other as well as to choose a set of partners with specific attributes. The result is a highly flexible system characterized by low barriers to entry and exit, geographic flexibility, low costs, rapid technological diffusion, high diversification through contract manufacturers and exceptional economies of scale. This study of organizational culture at the network level includes aspects such as cultural similarity among its actors, social embeddedness, tacit knowledge transfer or the importance of trust atinter-firm collaborations. The presence, under a systemic perspective, of homogeneous cultural values and practices in which collaboration actors can be identified may strengthen the group membership or establish a social network that underlies the own HIC and facilitates interactions among its members. The feasibility of this approach would facilitate the formation of new HICsby establishing, ex ante, a cultural prescriptive model at the network level. Finally, to validate the proposed model, the case methodology have been applied to an example within the aeronautical industry that has been one of the most successful relationships within HICs, the

  15. Level-2 perspectives computed quickly and spontaneously: Evidence from eight- to 9.5-year-old children.

    Science.gov (United States)

    Elekes, Fruzsina; Varga, Máté; Király, Ildikó

    2017-11-01

    It has been widely assumed that computing how a scene looks from another perspective (level-2 perspective taking, PT) is an effortful process, as opposed to the automatic capacity of tracking visual access to objects (level-1 PT). Recently, adults have been found to compute both forms of visual perspectives in a quick but context-sensitive way, indicating that the two functions share more features than previously assumed. However, the developmental literature still shows the dissociation between automatic level-1 and effortful level-2 PT. In the current paper, we report an experiment showing that in a minimally social situation, participating in a number verification task with an adult confederate, eight- to 9.5-year-old children demonstrate similar online level-2 PT capacities as adults. Future studies need to address whether online PT shows selectivity in children as well and develop paradigms that are adequate to test preschoolers' online level-2 PT abilities. Statement of Contribution What is already known on this subject? Adults can access how objects appear to others (level-2 perspective) spontaneously and online Online level-1, but not level-2 perspective taking (PT) has been documented in school-aged children What the present study adds? Eight- to 9.5-year-olds performed a number verification task with a confederate who had the same task Children showed similar perspective interference as adults, indicating spontaneous level-2 PT Not only agent-object relations but also object appearances are computed online by eight- to 9.5-year-olds. © 2017 The British Psychological Society.

  16. The Regional Heterogeneity of Productivity Determinants: Evidence from Ukrainian Firms

    Directory of Open Access Journals (Sweden)

    Cieślik Andrzej

    2017-03-01

    Full Text Available This paper studies the determinants of the total factor productivity (TFP for Ukrainian firms in the manufacturing sector across macro-regions using recent micro-level datasets for 2013. Our empirical results show some degree of heterogeneity across Ukrainian macro-regions; in particular, the link between the total factor productivity, firm size, imports and the level of competition seems to be valid for all macro regions. However, the effects of private ownership status, capital intensity and exports seems to be region specific. In addition, we found no relationship between firm productivity and foreign ownership for any of the regions.

  17. 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.

  18. Nurse manager perspective of staff participation in unit level shared governance.

    Science.gov (United States)

    Cox Sullivan, Sheila; Norris, Mitzi R; Brown, Lana M; Scott, Karen J

    2017-11-01

    To examine the nurse manager perspective surrounding implementation of unit level shared governance in one Veterans Health Administration facility. Nursing shared governance is a formal model allowing nursing staff decision-making input into clinical practice, quality improvement, evidence-based practice and staff professional development. Unit level shared governance is a management process where decision authority is delegated to nursing staff at the unit level. Convenience sampling was used to recruit ten nurse managers who participated in face-to-face semi-structured interviews. Data were analysed using content analysis and constant comparison techniques. Demographic data were described using descriptive statistics. The participants included seven female and three male nurse managers with seven Caucasian and three African American. Participant quotes were clustered to identify sub-themes that were then grouped into four global themes to describe unit level shared governance. The global themes were: (1) motivation, (2) demotivation, (3) recommendations for success, and (4) outcomes. These research findings resonate with previous studies that shared governance may be associated with increased nurse empowerment, self-management, engagement, and satisfaction. These findings reflect the need for nurse managers to promote and recognize staff participation in unit level shared governance. © 2017 John Wiley & Sons Ltd.

  19. How Does Top Managers' Cognition about Corporate Resources Influence Firm Growth?

    DEFF Research Database (Denmark)

    Distel, Andreas Philipp

    conceptualization is lacking and it remains unclear under what conditions resource cognition leads to superior firm performance. Drawing on the Penrosian view and the dynamic managerial capabilities perspective, this study further develops resource cognition in terms of top managers’ cognitions about the firm......’s technology- and market-related resources. Using multi-source data of firms operating in a dynamic industry, we investigate how resource cognition affects firm growth. We also explore the contingent role of decentralization and top management team size as important structural elements determining...

  20. A Comparative Analysis of the Entrepreneurial Orientation/Growth Relationship in Service Firms and Manufacturing Firms

    DEFF Research Database (Denmark)

    Rigtering, J.P. Coen; Kraus, Sascha; Eggers, Fabian

    2014-01-01

    This article builds on the recently increasingly mentioned notion that entrepreneurship in the service sector is a worthwhile, but clearly underresearched topic. Using a sample of 1,612 small- and medium-size enterprises from the four German-speaking countries Germany, Austria, Switzerland......, and Liechtenstein, and using structural equation modeling, this article finds that service firms have a significantly higher entrepreneurial orientation (EO) than manufacturing firms – both on the overall level as well as for each of the three sub-categories proactiveness, innovativeness, and risk...

  1. Iranian Language Teachers’ and Students’ Perspectives on Top Notch Series (2nd edition at Intermediate Level

    Directory of Open Access Journals (Sweden)

    Mehdi Azadsarv

    2014-12-01

    Full Text Available As the means of transferring knowledge between teachers and students, coursebooks play a significant role in educational practices all over the world. Evaluation of coursebooks is also of great significance as it manages to a better understanding of the nature of a specific teaching/learning situation. The present study is an attempt to evaluateTop Notch coursebook from both Iranian EFL learners’ and teachers’ perspectives. One hundred students and 20 teachers participated in this study. Sixty four of the students and nine of the teachers were male and 36 of the students and 11 of the teachers were female. The range of teachers' experience of teaching the coursebook was between 2-4 years and the range of students' experience of studying the coursebook was between 1-3 years. The data collection took place in three language institutes of Gilan and Mazandaran provinces. The coursebook, evaluated based on modified version of Cunningsworth's (1995 checklist, was the intermediate level of Top Notch. It was evaluated by both students and teachers based on administering written questionnaires. In order to triangulate the gathered data, 25 percent of the teachers and 10 percent of the students attended an interview session. Data analysis indicated that strengths of Top Notch from teachers' perspective are grammar, visuals, supplementary materials and culture and from students' point of view are content, grammar, phonology and visuals.

  2. Diversification patterns in the growth of firms : evidence from Italian manufacturing

    NARCIS (Netherlands)

    Castaldi, C.; Milakovic, M.; Secchi, A.

    2003-01-01

    We present empirical evidence on diversification patterns in Italian manufacturing firms and detect a robust relationship between firm size and diversification levels, with an elasticity of diversification that does not depend on firm size and is well below unity. Diversification does not lead to

  3. Estimating productivity with multi-product firms, pricing heterogeneity and the role of international trade

    DEFF Research Database (Denmark)

    Smeets, Valerie Anne Rolande; Warzynski, Frederic Michel Patrick

    In this paper, we analyze the relationship between exports, imports and firm productivity. We use a rich product-firm-level dataset providing both revenue and quantities of all products for a large panel of Danish manufacturing firms over the period 1998-2008 and link it to firms’ international...

  4. 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...

  5. How EPC firms can enter the nuclear renaissance

    OpenAIRE

    Locatelli, Giorgio; Mancini, Mauro

    2012-01-01

    the so called “nuclear renaissance” is creating a millionaire market for new nuclear reactors. Few firms have the capabilities to work in this complex and highly demanding market, whereas many other are investigating the option to enter. Quite surprising the international scientific literature provides information regarding the high-level governmental aspects of nuclear power programs in different countries while the analysis at firm level is almost inexistent. Moreover the usual business mod...

  6. Informativeness of accounting earnings in family firms

    OpenAIRE

    DOMINGO JAVIER SANTANA MARTÍN; JERÓNIMO PÉREZ ALEMÁN; CAROLINA BONA SÁNCHEZ

    2009-01-01

    This work examines the relationship between the family control and informativeness of accounting earnings in listed non-financial Spanish companies between 1997 and 2003. The results reveal a negative relationship between the family nature of the controlling shareholder and the credibility of accounting information. Moreover, as the level of voting rights in the hands of the family ultimate owner increases, the informativeness of earnings decreases. Only in family firms where the CEO is hired...

  7. 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...

  8. Perspective

    DEFF Research Database (Denmark)

    Kussmann, Martin; Morine, Melissa J; Hager, Jörg

    2013-01-01

    We review here the status of human type 2 diabetes studies from a genetic, epidemiological, and clinical (intervention) perspective. Most studies limit analyses to one or a few omic technologies providing data of components of physiological processes. Since all chronic diseases are multifactorial...... at different time points along this longitudinal investigation are performed with a comprehensive set of omics platforms. These data sets are generated in a biological context, rather than biochemical compound class-driven manner, which we term "systems omics."...

  9. Firm behavior, environmental externalities and public policy

    Science.gov (United States)

    Curtis, Earnest Markell, IV

    This dissertation consists of three essays which examine environmental policy, employer mandates and energy consumption. The essays explore how firms respond to government policies such as environmental regulation and employer mandates. Understanding how firms adjust to government policies is crucial to law makers attempting to design optimal policies that maximize net benefits to society. The first essay, titled Who Loses under Power Plant Cap-and-Trade Programs tests how a major cap-and-trade program, known as the NOx Budget Trading Program (NBP), affected labor markets in the region where it was implemented. The cap-and-trade program dramatically decreased levels of NOx emissions and added substantial costs to energy producers. Using a triple-differences approach that takes advantage of the geographic and time variation of the program as well as variation in industry energy-intensity levels, I examine how employment dynamics changed in manufacturing industries whose production process requires high levels of energy. After accounting for a variety of flexible state, county and industry trends, I find that employment in the manufacturing sector dropped by 1.7% as a result of the NBP. Young workers experienced the largest employment declines and earnings of newly hired workers fell after the regulation began. Employment declines are shown to have occurred primarily through decreased hiring rates rather than increased separation rates, thus mitigating the impact on incumbent workers. The second essay, titled Evaluating Workplace Mandates with Flows versus Stocks: An Application to California Paid Family Leave uses an underexploited data set to examine the impact of the California Paid Family Leave program on employment outcomes for young women. Most papers on mandated benefits examine labor outcomes by looking at earnings and employment levels of all workers. Examining these levels will be imprecise if the impacts of the program develop over time and firms are wary

  10. 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.

  11. 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...

  12. Labor reallocation and firm growth: Benchmarking transition countries against mature market economies

    OpenAIRE

    Mitra, Pradeep; Muravyev, Alexander; Schaffer, Mark E.

    2014-01-01

    This paper uses firm-level survey data to study labor reallocation and firm growth in the transition countries over 1996 - 2005, including benchmarking against developed market economies. The data shows rapid growth of the new private sector and of the micro- and small-firm sectors, with the size distribution of firms moving towards the pattern observed in comparable surveys of developed market economies. Throughout, the regional patterns suggest greater convergence in the transition countrie...

  13. Investigating the Nonlinear Relationship between Working Capital and Profitability: a Case of Pakistan Textile Firms

    OpenAIRE

    Ashfaq Habib; Xiaoxia Huang

    2018-01-01

    This study analyzes the impact of working capital (WCR) on operating profit of Pakistan textile firms from 2009 to 2016. The nonlinear relationship has been found between working capital and operating profit, which indicates that an optimal level of working capital exists in the textile firms of Pakistan. The firms are seeking the optimal working capital, where WCR (4.78%) of sales in generalized method of movement is used. Further, the study reveals that in the firms which maintain the posit...

  14. 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...

  15. Evaluation of Spatial Perspective Taking Skills using a Digital Game with Different Levels of Immersion

    Directory of Open Access Journals (Sweden)

    Laura Freina

    2017-09-01

    Full Text Available The present paper presents the results of an experiment aimed at assessing the impact of different levels of immersion on performance in a Spatial Perspective Taking (SPT task. Since SPT is an embodied skill, the hypothesis was that the more immersive a tool is, the better the performance should be. Ninety-eight students from a local primary school have played with three different versions of a game: (i completely immersive with a Head Mounted Display, (ii semi immersive on a computer screen and (iii non-immersive where no movements were possible for the player. Results showed that in the immersive versions of the game, players obtained higher scores than in the non-immersive version, suggesting that an immersive tool can better support performance in a SPT task.

  16. 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....

  17. Free Trade Agreements and Firm-Product Markups in Chilean Manufacturing

    DEFF Research Database (Denmark)

    Lamorgese, A.R.; Linarello, A.; Warzynski, Frederic Michel Patrick

    In this paper, we use detailed information about firms' product portfolio to study how trade liberalization affects prices, markups and productivity. We document these effects using firm product level data in Chilean manufacturing following two major trade agreements with the EU and the US....... The dataset provides information about the value and quantity of each good produced by the firm, as well as the amount of exports. One additional and unique characteristic of our dataset is that it provides a firm-product level measure of the unit average cost. We use this information to compute a firm...

  18. Predicting dropout using student- and school-level factors: An ecological perspective.

    Science.gov (United States)

    Wood, Laura; Kiperman, Sarah; Esch, Rachel C; Leroux, Audrey J; Truscott, Stephen D

    2017-03-01

    High school dropout has been associated with negative outcomes, including increased rates of unemployment, incarceration, and mortality. Dropout rates vary significantly depending on individual and environmental factors. The purpose of our study was to use an ecological perspective to concurrently explore student- and school-level predictors associated with dropout for the purpose of better understanding how to prevent it. We used the Education Longitudinal Study of 2002 dataset. Participants included 14,106 sophomores across 684 public and private schools. We identified variables of interest based on previous research on dropout and implemented hierarchical generalized linear modeling. In the final model, significant student-level predictors included academic achievement, retention, sex, family socioeconomic status (SES), and extracurricular involvement. Significant school-level predictors included school SES and school size. Race/ethnicity, special education status, born in the United States, English as first language, school urbanicity, and school region did not significantly predict dropout after controlling for the aforementioned predictors. Implications for prevention and intervention efforts within a multitiered intervention model are discussed. (PsycINFO Database Record (c) 2017 APA, all rights reserved).

  19. Reforming health service delivery at district level in Ghana: the perspective of a district medical officer.

    Science.gov (United States)

    Agyepong, I A

    1999-03-01

    Many countries in sub-Saharan Africa face the problem of organizing health service delivery in a manner that provides adequate quality and coverage of health care to their populations against a background of economic recession and limited resources. In response to these challenges, different governments, including that of Ghana, have been considering or are in the process of implementing varying degrees of reform in the health sector. This paper examines aspects of health services delivery, and trends in utilization and coverage, using routine data over time in the Dangme West district of the Greater Accra region of Ghana, from the perspective of a district health manager. Specific interventions through which health services delivery and utilization at district level could be improved are suggested. Suggestions include raising awareness among care providers and health managers that increased resource availability is only a success in so far as it leads to improvements in coverage, utilization and quality; and developing indicators of performance which assess and reward use of resources at the local level to improve coverage, utilization and quality. Also needed are more flexibility in Central Government regulations for resource allocation and use; integration of service delivery at district level with more decentralized planning to make services better responsive to local needs; changes in basic and inservice training strategies; and exploration of how the public and private sectors can effectively collaborate to achieve maximum coverage and quality of care within available resources.

  20. Non-Financial Dimensions of Family Firm Ownership

    DEFF Research Database (Denmark)

    Sluhan, Anne

    to an overarching research question about how non-financial dimensions of family firm ownership—exemplified by socioemotional wealth (SEW) and familiness—influence family firm internationalization. The dissertation contributes to varying literatures including family business, corporate governance, strategic...... of an acquisition is lower when family ownership is relatively balanced vis à vis non-family ownership. The final empirical chapter studies family firm behavior differently by exploring the notion of familiness within the context of an international acquisition. This study applies an action research methodology...... to an understanding of familiness in general, and specifically familiness in a context of internationalization. From a methodological perspective, the paper contributes rich data showing how action research can be used in a business setting, presenting a process that facilitates integration between two distinct...

  1. Emerging Economies and Firms in the Global Crisis

    DEFF Research Database (Denmark)

    n exploration into the impact of the global crisis on emerging economies and firms and their responses to it. The ways in which the leading emerging economies of Brazil, Russia, India and China (BRIC) are dealing with the challenges of the global crisis are complemented by the approaches applied...... by countries and firms from Central and Eastern Europe. This is a pioneering volume shedding light on the successful international activities of the emerging economies in the global crisis. Offering a variety of perspectives, the chapters deal with the successful application of specific modes of market entry...... of BRIC economies in developed countries and the ways in which Russian, Indian, Chinese, and also Polish, Slovene and Estonian firms have coped with the challenges of the global crisis....

  2. A Multidimensional Approach to Succession in Family Firms

    DEFF Research Database (Denmark)

    Boyd, Britta; Fediuk, Tomasz A.; Botero, Isabel C.

    In family firms succession is often defined as the transition of leadership and ownership between a family member and the next generation. Traditionally research on succession in family firms has focused on the family member as they enter the leadership role (i.e., how family firms successfully...... transition to the next generation). From our point of view this is a one-dimensional perspective of succession with a focus on the family or the non-family member that will take over the leadership role. However, we found evidence in Danish family business research that such an approach is restrictive...... in a way that concern for the family is not the only consideration for organizational development in the succession process. Building on conflict management literature, we examine the succession process from a multi-dimensional approach where concern for the family is one dimension, and a second dimension...

  3. A FINANCIAL PERFORMANCE COMPARISON OF GROUP AND NON-GROUP FIRMS IN TEXTILE SECTOR OF PAKISTAN

    Directory of Open Access Journals (Sweden)

    Ishtiaq AHMAD

    2016-12-01

    Full Text Available Pakistan is a developing economy and business groups are key players of the Pakistan’s economy. Previous research evidence shows that in the emerging economies group affiliation creates value for the firms. This study is intended to empirically investigate to know that whether group affiliated (GA firms perform financially better than non-group affiliated firms or not? GA firms in emerging economies can have better financial performance by sharing tangible and intangible resources at group level. The financial ratio is used to compare performance of affiliated and non-group affiliated firms by using the data of 70 textile firms listed at Karachi Stock Exchange(now Pakistan Stock Exchange covering a period from 2008 to 2012. Based on mean values of return on assets (ROA, results of the study show that GA firms have higher financial performance than non-group affiliated firms in each year and over all five years.

  4. The environmental actions of firms: examining the role of spillovers, networks and absorptive capacity.

    Science.gov (United States)

    Albornoz, Facundo; Cole, Matthew A; Elliott, Robert J R; Ercolani, Marco G

    2014-12-15

    In the light of climate uncertainty and growing concern for the natural environment, an increasingly important aspect of global business is the environmental behaviour of firms. In this paper we consider the factors that influence firms' environmental actions (EAs). Our study of Argentinean firms concentrates on measures of environmental spillovers, informal and formal networks and absorptive capacity by testing four related hypotheses. We find that foreign-owned firms, large firms and those with a greater capacity to assimilate new environmental technologies are more likely to adopt EAs. We also show that formal and informal networks aid the adoption of EAs in the presence of traditional firm-level spillovers. Finally, we show that foreign-owned firms have different motives to domestic firms for undertaking EAs. Copyright © 2014 Elsevier Ltd. All rights reserved.

  5. 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...

  6. What drives firm profitability? A multilevel approach to the Spanish agri-food sector

    International Nuclear Information System (INIS)

    Zouaghi, F.; Sánchez-García, M.; Hirsch, S.

    2017-01-01

    Strategic management research has demonstrated the importance of firm- and industry structure as drivers of firm profitability. However, less is known about how firms´ geographical locations affect profitability. Applying a multi-level approach of hierarchical linear modeling we estimated firm-, industry-, and region-specific effects on profitability of 3,273 agri-food firms operating in different Spanish districts over the time span 2006-2013. The results reveal the dominance of firm-specific effects which contribute up to 48.8% to variance in firm profitability while the contribution of industry effects (0.8-4.2%), geographical location (0.1-1.8%), and year effects (0.1-2.5%) is rather small. Moreover, firm size, risk, and innovative activity turn out as significant profit drivers at the firm level. Although firm-effects outweigh industry- and region-specific factors, the results indicate that industry concentration as well as regional education and unemployment influence profitability. In addition, proximity to technological institutes as well as the degree of urbanization of the region in which a firm operates can be drivers of profitability. Hence, despite the superiority of firm effects the results indicate that agri-food managers should also consider possible advantages from location-based resources in order to ensure competitiveness.

  7. What drives firm profitability? A multilevel approach to the Spanish agri-food sector

    Energy Technology Data Exchange (ETDEWEB)

    Zouaghi, F.; Sánchez-García, M.; Hirsch, S.

    2017-07-01

    Strategic management research has demonstrated the importance of firm- and industry structure as drivers of firm profitability. However, less is known about how firms´ geographical locations affect profitability. Applying a multi-level approach of hierarchical linear modeling we estimated firm-, industry-, and region-specific effects on profitability of 3,273 agri-food firms operating in different Spanish districts over the time span 2006-2013. The results reveal the dominance of firm-specific effects which contribute up to 48.8% to variance in firm profitability while the contribution of industry effects (0.8-4.2%), geographical location (0.1-1.8%), and year effects (0.1-2.5%) is rather small. Moreover, firm size, risk, and innovative activity turn out as significant profit drivers at the firm level. Although firm-effects outweigh industry- and region-specific factors, the results indicate that industry concentration as well as regional education and unemployment influence profitability. In addition, proximity to technological institutes as well as the degree of urbanization of the region in which a firm operates can be drivers of profitability. Hence, despite the superiority of firm effects the results indicate that agri-food managers should also consider possible advantages from location-based resources in order to ensure competitiveness.

  8. 外资并购中国上市企业的动因研究——基于目标企业的视角%On the Motive of Foreign Merger and Acquisition of Chinese Listed Companies Based on the Perspective of Target Firms

    Institute of Scientific and Technical Information of China (English)

    袁奋强

    2012-01-01

    The paper, using a sample of foreign companies' merger and acquisition of Chinese listed target firms from 1998 to 2007, studies the M&A motive of foreign firms from the perspective of target firms. It finds that the foreign mergers and acquisitions have built financial synergies from the formation of internal capital markets, which are one of the main motives of foreign mergers and acquisitions; speculations are not the motive of mergers and acquisitions, but investments should be the main motive; as an investmentoriented foreign merger and acquisition, after it quickly enters the host country market, it has a motive of freezing the target brand and promoting its own brand.%文章以1998~2007年外资并购上市公司的事件为研究样本,从目标企业的视角分析了外资并购的动因。研究发现:外资并购通过内部资本市场的构建形成了财务协同效应,所以财务协同效应应该是外资并购的主要动因之一;外资并购并非持投机性的动机,而应该是以投资性并购为主要动因;作为投资性的外资并购,外资在快速进入东道主国市场后,具有雪藏目标企业品牌、推广自有品牌的动机。

  9. Why do firms engage in forward-looking search?

    DEFF Research Database (Denmark)

    Jissink, Tymen; Rohrbeck, René; Huizingh, Eelko K.R.E.

    firms with a low level of slack resources engage to a much lower extent into forward-looking search, if they operate in high-competitive-intensity environments. Our findings not only carry important implications for predicting a firm’s engagement in forward-looking search, but also potentially...... performed below aspirations are less likely to engage in forward-looking search, suggesting that forward-looking search is not a form of problemistic search. In contrast, firms that have abundant uncommitted (slack) resources as well as firms expecting to outperform in the near future are engaging more...... into forward-looking search. We also find interaction effect between performance feedback and environmental characteristics. Interestingly firms with a high level of slack resources are only surpassing their less rich peers in forward-looking search, if they are in technologically turbulent environments. Also...

  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. 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.

  14. Energy efficiency determinants: An empirical analysis of Spanish innovative firms

    International Nuclear Information System (INIS)

    Costa-Campi, María Teresa; García-Quevedo, José; Segarra, Agustí

    2015-01-01

    This paper examines the extent to which innovative Spanish firms pursue improvements in energy efficiency (EE) as an objective of innovation. The increase in energy consumption and its impact on greenhouse gas emissions justifies the greater attention being paid to energy efficiency and especially to industrial EE. The ability of manufacturing companies to innovate and improve their EE has a substantial influence on attaining objectives regarding climate change mitigation. Despite the effort to design more efficient energy policies, the EE determinants in manufacturing firms have been little studied in the empirical literature. From an exhaustive sample of Spanish manufacturing firms and using a logit model, we examine the energy efficiency determinants for those firms that have innovated. To carry out the econometric analysis, we use panel data from the Community Innovation Survey for the period 2008–2011. Our empirical results underline the role of size among the characteristics of firms that facilitate energy efficiency innovation. Regarding company behaviour, firms that consider the reduction of environmental impacts to be an important objective of innovation and that have introduced organisational innovations are more likely to innovate with the objective of increasing energy efficiency. -- Highlights: •Drivers of innovation in energy efficiency at firm-level are examined. •Tangible investments have a greater influence on energy efficiency than R&D. •Environmental and energy efficiency innovation objectives are complementary. •Organisational innovation favors energy efficiency innovation. •Public policies should be implemented to improve firms’ energy efficiency

  15. DOE Low-Level Waste Management Program perspective on technology transfer: opportunities and challenges

    International Nuclear Information System (INIS)

    Large, D.E.

    1982-01-01

    The Department of Energy's Low-Level Waste Management Program (DOE LLWMP) perspective in regard to transfer of LLWMP technology to current and potential users in both the commercial and defense sectors is discussed. Past, present, and future opportunities and challenges for the whole nuclear waste management are indicated. Elements considered include: historical and evolutionary events and activities; the purpose of the Program and its inherent opportunities and challenges; achievements and expected accomplishments; supporters and interactors; packaging and delivering technology; implementing and serving potential users; determining and meeting users' needs; and identifying and responding to opportunities and challenges. The low-level waste management effort to improve shallow land burial technology began in FY 1977 and has expanded to include waste treatment and alternative disposal methods. Milestones have been established and are used as principal management control items. This technology, the Program Product, is described and is made available. This year, the Program has drafted criteria for inclusion in a DOE order for radioactive waste management operations at DOE sites

  16. Foreign investment regulation and firm productivity: Granular evidence from Indonesia

    OpenAIRE

    Genthner, Robert; Kis-Katos, Krisztina

    2018-01-01

    Based on a yearly census of Indonesian manufacturing firms for 2000-2014, we investigate the effects of a sector-specific investment policy reform on firm productivity. Hereby we exploit a protectionist foreign direct investment reform (the so-called negative investment list) that designated certain sectors at the five-digit level to become closed or only conditionally open to foreign investors. The list was first released in 2000 and has been repeatedly revised by the Indonesian authorities ...

  17. Does internationalisation of technology determine technological diversification in large firms?

    OpenAIRE

    Christian Le Bas; Pari Patel

    2005-01-01

    The purpose of the paper is to examine the relationship between technological diversification and internationalisation of technology for large multinational firms, operating at the world technological frontier. More precisely we address the question as to whether internationalisation determines diversification. The analysis is based on a rich database of the European patenting activity of 345 large multinational firms with the highest levels of patenting over two periods of time (1988-1990 an...

  18. 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...

  19. Gender diversity and innovation in manufacturing and service firms

    OpenAIRE

    Segarra Blasco, Agustí, 1958-; Parra, Maria Dolores; Teruel, Mercedes

    2015-01-01

    Traditionally, researchers have considered the innovation process as being gender neutral. However, recently some studies have begun to take gender diversity into account as a determinant of firms’ innovation. This paper aims to analyse how the effect of gender diversity on innovation output at firm level is sensitive to team size. Using the Spanish PITEC (Panel de Innovación Tecnológica) from 2007 to 2012 for innovative manufacturing and service firms, we estimate...

  20. Balancing organizational and professional commitments in Professional Service Firm

    DEFF Research Database (Denmark)

    Jørgensen, Frances; Becker, Karen

    2015-01-01

    Due to their potential to positively influence sales quality and performance and reduce employee turnover in service organizations, HR practices targeting employee commitment have received considerable attention in the HRM literature in recent years. Parallel to this, there has been increasing...... financial investment firms. Our findings suggest that in professional service firms, HR practices encourage high levels of organizational commitment primarily and most often through their influence on professional commitment and that HR practices related to flexible work design are essential in creating...

  1. CURRENT ASSET TUNNELING AND FIRM PERFORMANCE IN AN EMERGING MARKET

    Directory of Open Access Journals (Sweden)

    Ratna Candra Sari

    2014-12-01

    Full Text Available This study examines the effect of current asset tunneling on firm performance from the emerging market perspective. Although tunneling activities is a common practices by businesses especially in Indonesia, there exist obstacles in the measurement of tunneling activity because it is difficult to proof the existence of such practices. In this study, we measure tunneling by using accounts receivables and develop tunneling detection criteria. In addition, this study examines the effect of tunneling on firm performance and market reaction during the announcement of the related party transaction. The study finds that from the perspective of the being-tunneled companies, receivables to related parties negatively affect the company’s profit margin. Companies which announce related party transaction indicating tunneling obtain negative abnormal return during the announcement of the related party transaction.

  2. Alternative Solutions to the Agency Conflict in the Firm

    DEFF Research Database (Denmark)

    Li, Xin

    Agency theory is concerned about the conflict of interests in the employer-employee relations. But the theory is framed purely from the perspective of the principal (i.e., the owners or stockholders of the firm), without taking into consideration of the perspective of the agent (e.g., managers...... a promotion mindset in contrast to the prevention mindset in the agency theory and the conventional mechanisms. We argue, to facilitate and internalize some (if not all) aspirations of their employees, the firms will not only gain talents-based competitive advantages but become truly humanistic organizations...... or employees), the conventional mechanism, i.e., monitoring and bonding, though useful, are not always effective and efficient for motivating employees. In this paper, we propose two alternative solutions to the agency conflict problem, i.e., aspiration facilitation and aspiration internalization, that adopts...

  3. Social firms: sustainable employment for people with mental illness.

    Science.gov (United States)

    Williams, Anne; Fossey, Ellie; Harvey, Carol

    2012-01-01

    Social firms or enterprises aim to offer sustainable employment in supportive workplaces for people who are disadvantaged in the labour market. Therefore, this study sought to explore employees' views in one social firm about the features of their workplace that they found supportive. Seven employees were recruited, all of whom experienced persistent mental illness, and had worked in this social firm for between eleven months and six years. A semi-structured interview, the Work Environment Impact Scale (version 2.0), was used to explore participants' views of their workplace and to rate how its physical and social characteristics impacted them. Participants also rated their job satisfaction with a modified Indiana Job Satisfaction Scale. Features of the social firm workplace identified by these employees as contributing to their sustained employment and satisfaction were the rewards, task demands, work schedule, and workplace interactions with supervisors and other co-workers. From their views, guiding principles for the development of supportive workplaces and evaluation of their capacity to afford sustainable employment were derived. This study adds to current knowledge about workplace supports from an employee perspective, and is of relevance for informing future social firm development, workplace design and evaluation.

  4. 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...

  5. Digital Maturity of the Firm's Business Model

    DEFF Research Database (Denmark)

    Groskovs, Sergejs; Vemula, Sreekanth

    We propose a digital maturity assessment model as an instrument for researchers and a strategic tool for managers. Existing literature lacks a conceptually clear way to measure the construct of digital maturity at the level of the firms business model. Our proposed instrument thus opens avenues...... for research into questions related to antecedents, process, and performance outcomes of the digitalization of business activities. The assessment follows the logic of first decomposing the business model into the underlying value creation activities and then evaluating the levels of automation...

  6. 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...

  7. 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 ...

  8. Entry modes of European firms in Vietnam

    Directory of Open Access Journals (Sweden)

    Daniel Simonet

    2012-09-01

    Full Text Available Purpose: The purpose of the paper is to explore the entry modes of EU firms setting up operations in Vietnam. Design/methodology/approach: we use a case study approach on Haymarket, Cadbury, Creative Education, Fairchild, Aventis and Artemisinin and Farming International using interviews from managerial professionals in Vietnam. Findings: Despite the fact that Vietnam has been opening up for more than 20 years, licensing is the preferred entry mode because of the risks involved in venturing with local firms; that preference signals a low level commitment and a high perception of risk and state interference. In line with Vietnam transition to state - rather than private market - capitalism, a foreign company opting for a joint-venture will do so with a state-owned rather than privately-owned company. The choice of a subsidiary can be explained by the lack of trust in partners and institutions, not by improvement in the socio-political environment. Limitations: In determining the entry mode strategy, the paper focuses on the Uppsala school’s “psychic distance” (e.g. cultural distance, lack of trust rather than on firm-specific advantages (Rugman, 1980; 2006. Key-words: international entry mode; emerging markets; subsidiary; joint-venture; India; Vietnam

  9. 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

  10. 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,

  11. 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...

  12. 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.

  13. CURRENT ASSET TUNNELING AND FIRM PERFORMANCE IN AN EMERGING MARKET

    OpenAIRE

    Ratna Candra Sari; Zaki Baridwan

    2014-01-01

    This study examines the effect of current asset tunneling on firm performance from the emerging market perspective. Although tunneling activities is a common practices by businesses especially in Indonesia, there exist obstacles in the measurement of tunneling activity because it is difficult to proof the existence of such practices. In this study, we measure tunneling by using accounts receivables and develop tunneling detection criteria. In addition, this study examines the effect of tunnel...

  14. Blockholder structures and power mechanisms in family firms

    OpenAIRE

    Cacciotti, Gabriella; Ucbasaran, Deniz

    2018-01-01

    We extend the work of Fattoum-Guedri, Guedri, and Delmar (in press) by suggesting that the number of family blockholders moderates the relationship between the distribution of voting power between family and nonfamily blockholders and firm performance. Building on power and negotiation theories, we argue that the participation of multiple generations of family members in the firm’s ownership leads to greater diversity of perspectives that generates potential conflict over the distribution of ...

  15. 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

  16. Upgrading to lead firm position via international acquisition: learning from the global biomass power plant industry

    DEFF Research Database (Denmark)

    Hansen, Ulrich Elmer; Fold, Niels; Hansen, Teis

    2016-01-01

    This article examines the case of a Chinese firm that has upgraded to lead firm position in the global biomass power plant industry mainly through acquisitions of technological frontier firms in Denmark. Sustaining the lead firm position was, however, challenged by difficulties in developing...... innovative capability. Drawing on the literature on (i) firm-level technological capability and (ii) knowledge transfer in international acquisitions, we explain the reasons for insufficient innovative capability building. Based on these empirical findings, we suggest maintaining the existing upgrading...

  17. Foreign Direct Investment and the Survival of Domestic Private Firms in Viet Nam

    DEFF Research Database (Denmark)

    Kokko, Ari; Thang, Tran Toan

    2014-01-01

    Foreign direct investment (FDI) may benefit local firms in the host country through various kinds of spillovers, but it may also raise competition and result in the crowding out of domestic firms. Using detailed firm-level data for the period 2001–2008, this paper examines the aggregate effect...... significantly, while downstream FDI may reduce the hazard. The presence of SOEs has a direct negative effect on the survival odds of local private firms in the same industry, but there is also an indirect impact on the exit hazard from FDI. Local firms are more vulnerable to foreign entry in sectors with high...

  18. Long-lived high and intermediate level radioactive wastes: defining the context, stakes and perspectives

    International Nuclear Information System (INIS)

    2006-01-01

    The French law from December 30, 1991 has defined an ambitious 15 years program of researches in order to explore the different possible paths for the long-term management of long-lived high and intermediate level radioactive wastes. The law foresees also that at the end of the 15 years research program, a project of law will be prepared by the French government and transmitted to the European parliament in 2006. A public debate has been organized and emceed in 2005 in order dialogue with the general public and to gather its questions, remarks and fears. In the framework of their contribution to this debate, the ministries of industry and environment have prepared this document which answers some key questions about radioactive waste management: where do wastes come from, what are the risks, how are they managed today in France and in foreign countries, what are the results of the researches carried out during 15 years, what are the advantages and drawbacks of each waste management solution considered, what is the perspective of application of each solution, what is the position of experts, what will be the decision process. This synthetic document supplies some reference marks to better understand these different points. Some pedagogical files about radioactivity, fuel cycle, and nuclear industry activities are attached to the document. (J.S.)

  19. Perspective of Family Members of Transitions to Alternative Levels of Care in Anglo-Saxon Countries.

    Science.gov (United States)

    Merla, C; Wickson-Griffiths, A; Kaasalainen, S; Dal Bello-Haas, V; Banfield, L; Hadjistavropoulos, T; Di Sante, E

    2018-01-01

    This scoping review explores circumstances surrounding the decision about, and eventual experience of, transitioning older adults into alternative levels of housing (ALH), such as long-term care. This topic is examined from a family member perspective, given their exposure and involvement in the care of older adult relatives during this transitional period. The scoping review methodology is based on the framework of Arksey and O'Malley and subsequent recommendations from Levac, Colquhoun, and O'Brien. Approximately 470 articles were reviewed covering the period between 2000 and November 2014; 37 articles met inclusion criteria. A temporal organization of themes was used to describe the experiences of family members in the pretransition, active transition, and posttransition periods of moving older adult relatives into ALH. This paper highlights the transitional period as a time of crisis, with a lack of planning, support, and transparent discussion. This study identifies a need for future research on the potential benefits of family support groups, interim transitional housing options, different models of ALH, changing roles in the posttransition period, and the need for a comprehensive list of housing options for older adults. Results have the potential to inform policy/practice and improve the lives of older adults and their family.

  20. Firm and Product Heterogeneity in China's Automotive Exports

    Directory of Open Access Journals (Sweden)

    Jing Wang

    2015-12-01

    Full Text Available The main purpose of this paper is to provide an in-depth analysis of the anatomy of China's automotive exports, relying on the literature on firm and product heterogeneity. For this purpose, we use highly disaggregated HS 8-digit product-category level data collected by the Chinese Customs Office for 2000 and 2008, and we distinguish between foreign firms, domestic public firms, and domestic private firms. We also decompose automotive products into autos and auto parts and components (P/C. We then calculate both the extensive margins – number of products exported – and intensive margins – average value of exports per product – of China's automotive exports. We estimate gravity equations to assess the determinants of China's exports of autos and auto P/C. Overall, our analysis yields a number of new, interesting stylized facts about China's automotive exports by confirming the need for taking into account different types of heterogeneity in analyzing international trade.

  1. 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

  2. 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

  3. 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

  4. 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…

  5. Perspectives

    African Journals Online (AJOL)

    ebutamanya

    2015-07-16

    , South Africa, ... Key words: Ethics, mHealth, medical, HIV, Southern Africa, text messaging ... At community-level, SMS activities also support public health ... Saharan Africa, in which stigmatization towards people living with.

  6. 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)....

  7. 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.

  8. 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....

  9. CORPORATE GOVERNANCE AND FIRM VALUE IN EMERGING MARKETS AN EMPIRICAL ANALYSIS OF ADR ISSUING EMERGING MARKET FIRMS

    Directory of Open Access Journals (Sweden)

    Aysun Ficici

    2012-01-01

    Full Text Available This study explores the value implications of good corporate governance for a sample of 54 ADR issuing emerging market firms (EMFs from 9 countries primarily located in the regions of Asia, Eastern Europe and Latin America and the and employs recently constructed company composite corporate governance metric along with some alternative corporate governance measures associated with the origin of the issuing firm. Although the ADR literature primarily focuses on the impact of subscription to US disclosure requirements we contend that company and country specific corporate governance standards play a significant role in the risk reduction and ensuing value capture.  The fundamental inquiry in this study has the following foci: The primary focus is on the impact of corporate governance structures on firm performance as to whether adherence to standards creates market value for ADR issuing EMFs.  Do good corporate governance practices affect the value of EMFs? The secondary focus is concerned with whether the impact of corruption level and legal system in a firm’s home country affect the corporate structures of EMFs thus affecting the market value of firms.  In this study, we utilize Tobin’s q as the measure of firm performance/market value.  Our findings suggest that there is a significant correlation between corporate governance structures of ADR issuing EMFs and their market values and/or performances.  The results also indicate that the level of corruption and legal structures in home countries of EMFs strongly impact the corporate governance structures of these firms and sequentially affect their market values. Therefore, this research further contributes to the scholarly findings and suppositions that corporate structures of firms do create consequences on firm value.

  10. Ownership Structure, Earnings Management and Investment Opportunity Set: Evidence from Mexican Firms

    Directory of Open Access Journals (Sweden)

    Juan M. San Martin-Reyna

    2012-01-01

    Full Text Available This paper analyses the influence of ownership, board of directors, and financial leverage on companies’ performance when these either face, or do not face, profitable growth opportunities. Towards that end we examined a sample of 83 listed Mexican firms during the period 2005-2011. The results confirm the relevance of debt and board of directors in terms of firm market value by showing a negative relationship between performance and both, board of directors and leverage, in the presence of growth opportunities. In contrast, the relationship between debt and performance becomes positive when firms have no profitable investment projects. The results also demonstrate that the relevance of controlling shareholders on firm value is different when firms have or not growth opportunities. Therefore, our results show that ownership structure, composition and size of board and the level of leverage play a dual role on performance (increase or decrease the firm value and determinewhether the firms have profitable investment projects.

  11. 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....

  12. Perspective

    African Journals Online (AJOL)

    Tamara Shefer

    The National School Safety Framework (NSSF) – approved by the Minister of Education in .... appropriate counselling and support services, maintaining school buildings and ... Lastly, schools should take care to build a caring school by fostering .... alone will not be sufficient to reduce the levels of violence since it will fail to ...

  13. How Chinese firms employ open innovation to strengthen their innovative performance

    DEFF Research Database (Denmark)

    Wang, Yuandi; Roijakkers, Nadine; Vanhaverbeke, Wim

    2012-01-01

    China became the second-largest economy behind the USA in 2010. While there is quite some macroeconomic research documenting the technological catching-up of China as a nation, there is only little research studying how individual Chinese firms are catching up. This paper draws on the open...... innovation perspective to explore how Chinese firms improve their innovative performance. Our empirical analysis is based on a sample of 91 native Chinese firms in high-tech industries. The results indicate that Chinese firms widely implement an open innovation approach to strengthen their innovative...... performance. These firms use: 1 technology in-licensing agreements to obtain access to technologies 2 long-term alliances with foreign partners to access state-of-the-art technologies 3 collaboration with local universities and R&D institutes to broaden their technological strengths 4 collaboration...

  14. Present situation and perspective of China's geological disposal of high-level radioactive waste

    International Nuclear Information System (INIS)

    Zhang, H.

    2005-01-01

    The theme of the conference, 'Political and Technical Progress of Geologic Repositories', has drawn world-wide attention and remains a challenging topic facing the nuclear industry. I am delighted to attend this important conference and have the opportunity to state our views. And I would like to express my gratitude to our host Sweden and IAEA. The development of nuclear science and technology and the peaceful uses of nuclear energy is one of the greatest achievements of the mankind in the 20. century. The development and progress of nuclear technology, from application of fission energy to the exploration of fusion energy, embodies the mankind's expectation to the future. It will be the major energy of final settlement of the issue of global sustainable development. The safe and effective treatment and disposal of nuclear waste are of vital importance to the peaceful uses of nuclear energy and technology. The most dangerous and long-lived waste has to be contained and isolated from the human living environment. Construction of geologic repository in appropriate geological formation for radioactive waste disposal is being accepted as a suitable solution and being studied widely. In the International Conference on Geological Repositories held in Denver, U.S.A., in November 1999, senior governmental representatives from more than 20 countries stated related policies and decisions of their respective countries, which caught world-wide attention. I am convinced that this conference, an event about geologic repository following the Denver conference, will produce positive results for the safe and effective disposal of nuclear waste. Now I would like to take this opportunity to brief you on China's current situation and perspectives of geologic disposal of high-level radioactive waste. (author)

  15. Ownership Structure and Publicness of Firms: A Literature Review

    Directory of Open Access Journals (Sweden)

    Wisnu Untoro

    2017-11-01

    Full Text Available There has been an extensive body of literature studying the link between ownership structure and firm performance. Some of them focus on the performance difference across ownership types (i.e. state vs foreign vs private domestic. On the other hand, some studies stress ownership structure on the fraction of ownership based on agency theory (i.e. majority versus minority and its derivatives (e.g. ultimate ownership, cross listing. However, an important element has not been explored while discussing ownership structure of firms which is the concept of publicness of firms. Publicness is important to explain to which extent an organization is related with governmental institutions. In fact, there are many engagements of firms with governmental bodies (e.g. deposit and lending from and to public organization. In this present paper, I provide a comprehensive literature review on the intersection between publicness level of firms and ownership structure. Going deeper, I also provide a literature review on the measurement of publicness and postulate a model to link between these two and firm performance as a venue for future studies.

  16. Corporate Governance and Firm Performance: Evidence from Saudi Arabia

    Directory of Open Access Journals (Sweden)

    Amina Buallay

    2017-03-01

    Full Text Available This study aimed to measure the impact of Corporate Governance on Firm performance of listed companies in Saudi stock exchange. The study methodology was a pooled data collected from the Saudi stock exchange (TADAUWL for the period from 2012 to 2014. The study sample is 171 listed companies. The study independent variable is Corporate Governance principals. The dependent variable is Firm performance which was measured using ROA, ROE and Tobin's Q. The study also utilized five control variables in order to help measuring the relationship between Corporate Governance and Firm Performance. In conclusion, the study found that the governance level was 61.4% in Saudi stock exchange which is considered high compared to previous studies. The results of the study test indicate that there is no significant impact for corporate governance adoption on firm's operational and financial performance in the listed companies in Saudi stock exchange. By testing the Tobin's Q model the study also concluded that there’s no significant impact for ownership of the largest shareholder and independency of Board of Directors on firm's market performance. Significant impact was found for the ownership and the size of the Board of Directors on firm's performance.

  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. 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.

  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