WorldWideScience

Sample records for firm level perspective

  1. 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...

  2. 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...

  3. Intangible assets and firm-level productivity

    OpenAIRE

    Crass, Dirk; Peters, Bettina

    2014-01-01

    Firms invest huge amounts into intangible assets. This paper explores to which extent different kinds of intangible assets are conducive to firm-level produc- tivity. Our study contributes to the literature by simultaneously comparing productivity effects of innovative capital, human capital, branding capital and organizational capital and testing whether complementarity or substitutabil- ity exists between different intangible assets. Using panel data for the period 2006-20...

  4. 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....

  5. Firm-Level Corruption in Vietnam

    OpenAIRE

    John Rand; Finn Tarp

    2012-01-01

    This article uses panel data from a survey of small- and medium-sized enterprises in Vietnam to uncover which firms pay bribes and which do not. We also study how bribe paying evolved between 2005 and 2007 and test how the determinants of bribes changed between the two years. Three sets of insights emerge. First, bribe incidence is highly associated with firm-level differences in visibility, sunk costs, ability to pay, and some, but not all, types of interaction with public officials. Second,...

  6. 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....

  7. Towards a developing country firm perspective

    OpenAIRE

    Schaumburg-Müller, Henrik; Pottenger, Eugene; Hansen, Michael W.

    2007-01-01

    Changes of the global economy have led to a much deeper integration of firms from developing countries. Multinational corporations are increasingly using offshore-outsourcing to maintain competitiveness and market shares. While the implications of this trend has been studied from the point of view of the multinational firm and its home economy, far less attention has been paid to the developing country firm participating in the outsourcing arrangement and its strategic options. From this poin...

  8. Towards an action-based perspective on firm competitiveness

    Directory of Open Access Journals (Sweden)

    Anoop Madhok

    2014-04-01

    Full Text Available Existing theoretical frameworks typically revolve around sustainability of competitive advantage and attribute superior firm performance to its position in the industry structure and/or the possession of critical resources. However, the equilibrium-oriented logic implicit in these perspectives is not consonant with today's environment, characterized by more dynamic and complex behavior of markets and firms, which renders competitive advantages obsolete faster than ever. We propose an alternative action-based perspective on firm competitiveness one that revolves around the logic of action and emphasizes an entrepreneurial orientation and firm agility as the basis of firm competitiveness. This logic of action shifts the focus away from just industry position or resource possession and provides more scope for less advantaged firms to compete with the incumbents.

  9. Firm Heterogeneity and the Choice of Internationalization Modes: Statistical Evidence from Japanese Firm-level Data

    OpenAIRE

    WAKASUGI Ryuhei; TANAKA Ayumu

    2009-01-01

    This paper examines how productivity heterogeneity affects the sorting of export and foreign direct investment (FDI) of Japanese firms in North America and Europe. The statistical analysis based on the firm-level data of 12,000 Japanese firms presents new and interesting results: the ranking of productivity corresponds to the mode of internationalization from export to FDI; the productivity of Japanese firms with exports to North America is similar to the productivity of firms with exports to...

  10. Theoretical Perspectives on the Internationalization of Firms

    Science.gov (United States)

    Rask, Morten; Strandskov, Jesper; Hakonsson, Dorthe Dojbak

    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…

  11. Firm Performance-A Social Networks Perspective

    OpenAIRE

    Jane Tung

    2012-01-01

    Problem statement: The study aims to offer a discussion on social networks and their effect on firm performance and also to illustrate the ways by which the firms utilize social capital through networks. Approach: The literature review and arguments were conducted to provide a systematic discussion of social networks and their effects. Results: The study had provided with a detailed understanding of the strategies that had been found to be highly significant in successful organizational perf...

  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. 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

  14. Theoretical Perspectives on the Internationalization of Firms

    DEFF Research Database (Denmark)

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

    2008-01-01

    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...

  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 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

  19. A theory of the Firm Perspective on Marketing and Distributive Justice

    NARCIS (Netherlands)

    Crul, L.; Zinkhan, G.M.

    2008-01-01

    This article applies a theory-of-the-firm perspective to gain insights about a just allocation of economic resources by the marketing system. It discusses three groups of firm perspectives (i.e., economic theories, contingency theories, and marketing-oriented theories of the firm) and their

  20. 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).

  1. Low-intensity Conflict and Firm Level Investment in Ethiopia

    OpenAIRE

    Dominik Noe; Admasu Shiferaw

    2013-01-01

    This paper investigates the effect of low-intensity armed conflict on firm-level investment in a Sub-Saharan African country. We match firm level panel data from Ethiopian manufacturing with battle events at the town level. Using a more precise spatial identification of conflict exposure, we find that conflict reduces the investment rate significantly even when events are not extremely violent. The adverse investment effect increases with the geographic proximity of conflict and tends to decl...

  2. Small Firm De-internationalization: An Entrepreneurship Perspective

    DEFF Research Database (Denmark)

    Turcan, Romeo V.

    This study aims to further the understanding of international entrepreneurship among small firms by conceptualizing the process of de-internationalization from an entrepreneurship research path perspective. As per findings, de-internationalization is defined as a new economic activity that creates...... international entrepreneurship research, several key research issues that await the empirical researchers have been discussed. It is expected that with better understanding of the factors that are likely to influence de-internationalization and post-de-internationalization decisions, policy makers will develop...

  3. Barriers to Internationalization: Firm-Level Evidence from Germany

    OpenAIRE

    Christian Arndt; Claudia Buch; Anselm Mattes

    2009-01-01

    Exporters and multinationals are larger and more productive than their domestic counterparts. In addition to productivity, financial constraints and labor market constraints might constitute barriers to entry into foreign markets. We present new empirical evidence on the extensive and intensive margin of exports and FDI based on detailed micro-level data of German firms. Our paper has three main findings. First, in line with earlier literature, we find a positive impact of firm size and produ...

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

    DEFF Research Database (Denmark)

    Wang, Yuandi; Li-Ying, Jason

    2014-01-01

    be investigated through a contingency perspective. Thus, this study posits that a firm's propensity to develop new products through ITL is contingent upon two categories of contingency factors that are internal and external to firms. Using a dataset containing information about Chinese firms' licensing activities...

  5. 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.

  6. Firm-level versus sector-level trade Unions: The role of rent-sharing motives

    OpenAIRE

    De Pinto, Marco

    2015-01-01

    What are the effects of firm- and sector-level trade unions on unemployment and aggregate output if individuals have rent-sharing motives? To answer this question, we extend a Melitz-type model to unionized labor markets. Because individual rent-sharing motives are only taken into account and asserted by firm-level unions which capture a higher fraction of firms' rents via firm-specific wages, average profits are higher under sector-level trade unions. As a consequence, firm-selection increas...

  7. 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.

  8. 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.

  9. 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

  10. 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

  11. 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...

  12. 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.

  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. The interaction between country-level and firm-level corporate governance

    OpenAIRE

    Jonnergård, Karin; von Koch, Christopher; Nilsson, Ola; Jönsson, Micael

    2013-01-01

    In this exploratory study, we analyse the relationship between country-level corporate governance and firm-level corporate governance. Although prior research has shown that corporate governance at both levels impacts firm performance, findings have been inconsistent as to whether these levels are complements to or substitutes for each other. By using two extensive datasets this study is able two bring knowledge of the interaction between the levels. The findings reveal that there exists a po...

  16. 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.

  17. 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.

  18. Institutions, Resources and Innovation in Developng Countries : A Firm Level Approach

    NARCIS (Netherlands)

    Barasa, L.; Kimuyu, P.; Vermeulen, P.A.M.; Knoben, J.; Kinyanjui, B.

    2014-01-01

    This study examines how firm-level resources interact with regional institutional quality to explain innovation in developing countries. We hypothesize that the institutional environment within which the firm operates moderates the effect of firm-level resources on innovative output. We examine the

  19. Innovation in an international third party logistics firm : a strategy-as-practice perspective

    OpenAIRE

    Cui, Lianguang; Hertz, Susanne; Su, Shong-Iee

    2010-01-01

    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 f...

  20. The internationalization of the firm in an intercultural perspective

    DEFF Research Database (Denmark)

    Langhoff, Tine

    1993-01-01

    in analysis of companies' internationalization process. 2. Based on a qualitative study of several Danish food companies, a number of hypotheses about the relationship between cultural heterogeneity and a firm's internationalization are derived. They suggest that facing the problem of cultural heterogeneity......Executive summary: 1. Cultural heterogeneity is a major problem faced by companies wishing to internationalize in the food industry. In spite of this, the problems created by cultural diversity and the way companies solve them by acquiring intercultural competence have hardly been addressed....... The decision on whom to serve regards the choice of geographical markets and segments, which has to be in congruence with the choice of offerings. 5. The decision on what to do concerns the scope of operations to be performed by the firm itself, as compared to various forms of cooperation with other actors....

  1. How to Construct Nationally Representative Firm Level data from the ORBIS Global Database

    OpenAIRE

    Sebnem Kalemli-Ozcan; Bent Sorensen; Carolina Villegas-Sanchez; Vadym Volosovych; Sevcan Yesiltas

    2015-01-01

    Firm-level data on productivity, financial activity and firms' international linkages have become essential for research in the fields of macro, international finance and growth. This paper describes the development of a firm-level global panel dataset for public and private companies based on the administrative micro-dataset ORBIS, provided commercially by Bureau van Dijk Electronic Publishing (BvD). The ORBIS database provides data on firms' financial and productive activities from balance ...

  2. 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...

  3. Comparative analysis of firm demographics and survival : Evidence from micro-level sources in OECD countries

    NARCIS (Netherlands)

    Bartelsman, Eric; Scarpetta, Stefano; Schivardi, Fabiano

    In this paper, we present cross-country evidence on firm size distribution, firm demographic and post-entry performance for 10 OECD countries. We use harmonized firm-level data drawn from business registers or social security records. These data enable international comparisons and the

  4. 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

  5. Volatility and diversification of exports : Firm-level theory and evidence

    NARCIS (Netherlands)

    Vannoorenberghe, Gonzague; Wang, Zheng; Yu, Zhihong

    2016-01-01

    We show using detailed firm-level Chinese data that, among small exporters, firms selling, to a more diversified set of countries have more volatile exports, while the opposite holds among large exporters. This a priori surprising result for small firms is robust to a wide array of specifications

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

    DEFF Research Database (Denmark)

    Eriksson, Tor; Qin, Zhihua; Wang, Wenjing

    2014-01-01

    ' innovation activities. Innovation is measured both by the number of ongoing projects and new commercialized products. The results show that higher R&D employee turnover is associated with a higher probability of being innovative, but decreases the intensity of innovation activities in innovating firms......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....... Innovating firms are more likely to have adopted high performance HRM practices, and the impact of employee turnover varies with the number of HRM practices implemented by the firm...

  7. Spatial Aspects of Firm-level Carbon Dioxide Emissions in Japan (Japanese)

    OpenAIRE

    OKUBO Toshihiro; Robert J.R. ELLIOTT; Matthew A. COLE; Ying ZHOU

    2013-01-01

    In this paper, we examine the spatial distribution of Japanese pollution-intensive firms. Employing spatial econometric techniques, our results show that firm-level carbon dioxide emissions are spatially correlated and spatial correlations with our dependent variable are perhaps due to demonstration or imitation effects. We also find evidence of feedback effects where the emissions of firms affect those of other firms located nearby.

  8. Exporting and Innovation: Theory and Firm-Level Evidence from the People's Republic of China

    OpenAIRE

    Lin, Faqin; Tang, Hsiao Chink

    2013-01-01

    This paper investigates how exporting affects firm innovation. We embed innovation into a firm heterogeneity model with productivity, where in equilibrium the model shows that exporters invest more in innovation, such as research and development (R&D), than non-exporters. Using firm-level data from the People’s Republic of China (PRC), we apply the Levinsohn and Petrin (2003) method of estimating firm productivity and matching econometrics to control for endogeneity. The results show, on aver...

  9. The role of online community from user and firm perspective

    DEFF Research Database (Denmark)

    Ponnamma Divakaran, Pradeep Kumar

    on the community itself and its characteristics, (2) research focussed on studying the off-line consumer or market behaviour using community as the field setting and (3) research focussed on investigating the various functions and roles of online communities as a collective unit. The first two studies......Advancements in web 2.0 based technologies have enabled the rapid growth of online communities. People from various walks of life flock to such communities for their own individual reasons and similarly there is a growing trend of firms integrating with such online communities for different reasons...... and benefits. Both academic researchers and practitioners alike have shown considerable interest in exploring the role of online communities for both their members’ and firms’ benefits. Researches involving online communities have so far followed three major approaches such as (1) research focussed...

  10. 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

  11. 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 intensive margin, although this effect is conditional on firm characteristics. In particular, the positive relationship between subsidies and the intensive margin of exports is strongest among profit-making firms, firms in capital-intensive industries, and those located in non-coastal regions. Compared...

  12. Firm-Level Productivity Spillovers from FDI in Latin American Countries

    OpenAIRE

    Muehlen, Henning

    2013-01-01

    Foreign direct investment (FDI) projects are assumed to be accompanied by potential external effects - so-called FDI spillovers - which are supposed to affect productivity levels of other firms in a host country. Empirical results on this topic are inconclusive and most studies focus on one country. I contribute to the literature by employing comparable firm-level panel data from ten Latin American (developing) countries in order to estimate the spillover effects from FDI on firms' productivi...

  13. Export characteristics and output volatility: comparative firm-level evidence for CEE countries

    OpenAIRE

    Čede, Urška; Chiriacescu, Bogdan; Harasztosi, Péter; Lalinsky, Tibor; Meriküll, Jaanika

    2016-01-01

    The literature shows that openness to trade improves long-term growth but also that it may increase exposure to high output volatility. In this vein, our paper investigates whether exporting and export diversification at the firm level have an effect on the output volatility of firms. We use large representative firm-level databases from Estonia, Hungary, Romania, Slovakia and Slovenia over the last boom-bust cycle in 2004-2012. The results confirm that exporting is related to higher volatili...

  14. 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......Drawing upon the science of complexity we propose a network-centric, complex-systems internationalization (NCCSI) perspective of firm internationalization that can help us understand observed patterns of internationalization that are difficult to explain using traditional theories. While individual...... social physics and agent based simulation models, the associated research opportunities, and their value for managers and policymakers....

  15. 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.

  16. 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....

  17. 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.

  18. 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.

  19. 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.

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

    OpenAIRE

    Mercy Mpinganjira

    2011-01-01

    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 e...

  1. 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.

  2. 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.

  3. 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 here...

  4. 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...

  5. 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

  6. 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.

  7. Do corporate taxes reduce investments? Evidence from Italian firm-level panel data

    Directory of Open Access Journals (Sweden)

    Daniela Federici

    2015-12-01

    Full Text Available This paper uses an Italian firm-level panel data-set over the period 1994–2006 to investigate the nexus between corporate taxation and investment. Studying the effects of corporate taxation on investment at the micro level has two advantages. Firstly, investment is free of aggregation biases and secondly, the firm-level dimension allows asking whether the effects of corporate taxation differ across firms with different characteristics. In the empirical analysis, we employ a Generalized Method of Moments estimator, which permits us to handle not only the dynamic structure of the model and of the predetermined or endogenous explanatory variables, but also firm-specific factors, heteroskedasticity, and autocorrelation of individual observations. We find that corporate taxes distort investment decisions. The results are robust to the inclusion of many controls.

  8. Exploring the Interplay of an Entrepreneur’s Thinking, Knowledge, and Firm-Level Innovation

    OpenAIRE

    Miha Prebil; Mateja Drnovsek

    2017-01-01

    The purpose of this study is to investigate entrepreneur’s individual characteristics in terms of knowledge and thinking skills to better understand their role towards innovation. We used interpretative phenomenological analysis (IPA) to attain deeper insights about entrepreneurs’ cognitive processes and innovation. We learn that knowledge breadth plays an enhancing role in the relationship between entrepreneur’s knowledge depth and firm innovation. In return, innovation at a firm level is la...

  9. INNOVATION MANAGEMENT AS A FIRM-LEVEL STRATEGY FOR INNOVATION DIFFUSION IN CONSTRUCTION INDUSTRY

    OpenAIRE

    Emiliya V. Suprun

    2014-01-01

    Nowadays, conscious management of innovation in construction firms is becoming increasingly necessary. The research investigates the role of innovation management as an element of firm-level strategies of innovation diffusion. As a part of larger study of Russia's construction industry, a survey was conducted and data was collected via mailed questionnaires. The questionnaire requested respondents to provide specific data about the type of innovations adopted, the barriers to innovation diffu...

  10. Cultural diversity, innovation and entrepreneurship: firm-level evidence from London

    OpenAIRE

    Neil Lee; Max Nathan

    2013-01-01

    A growing body of research is making links between diversity and the economic performance of cities and regions. Most of the underlying mechanisms take place within firms, but only a handful of organization-level studies have been conducted. We contribute to this underexplored literature by using a unique sample of 7,600 firms to investigate links among cultural diversity, innovation, entrepreneurship, and sales strategies in London businesses between 2005 and 2007. London is one of the world...

  11. 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...... no adverse effects of the financial crisis on foreign market entry or exit, but a considerable increase in the export intensity of firms after the financial crisis. Moreover, we find that those firms that entered the crisis as exporters (and continued exporting throughout the crisis years) were more...

  12. 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.

  13. 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.

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

    OpenAIRE

    Chun Fu; Zhenzhen Shuai

    2015-01-01

    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 ent...

  15. 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, Petra; Faems, Dries; Song, Michael; 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

  16. Multi-layered factors influencing the firm's internationalisation strategy: institutions, micro environment, and firm-level capabilities

    OpenAIRE

    2013-01-01

    This thesis investigates the factors influencing the internationalization of firms through a multi-layered analysis grounded in international business. It addresses the following questions. First, in what ways does the institutional environment facilitate or hinder the growth of start-ups? And in what ways does institutional diversity across countries affect internationalizing firms? Second, in light of the variety of internationalization patterns, what modifications are necessary to the theo...

  17. What makes firms embrace risks? A risk-taking capability perspective

    Directory of Open Access Journals (Sweden)

    Hsiu-Fen Tsai

    2016-07-01

    Full Text Available We adopt a risk-taking capability perspective to study the determinants of risk-taking behavior. We introduce the concept of “risk-taking capabilities”—absorptive capacity, network resources, and organizational slacks—arguing that recognition of threat and risk-taking capabilities will influence risk-taking behavior, while the theoretical debate on threat recognition needs to be clarified. Then, drawing from prospect theory, threat rigidity hypothesis, and resource-based views of firms (RBV, we hypothesize that firms’ performance, risk-taking capabilities, and their interaction will positively correlate with risk-taking behavior. We test our hypotheses using the data from Taiwan's high technology industries. Our analyses lend support to the threat rigidity hypothesis, and risk-taking capabilities are indeed positively correlated with firms’ risk-taking behavior and also moderate the relationship between past performance and risk-taking behavior.

  18. 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.

  19. The Causal Effects of Exporting on Japanese Workers: A firm-level analysis

    OpenAIRE

    TANAKA Ayumu

    2012-01-01

    Japan experienced rapid growth in non-regular workers under globalization in the 2000s. This study seeks to identify the causal effects of exporting on the growth in labor and the share of non-regular workers in the Japanese manufacturing and wholesale sectors using extensive firm-level data. I employed a propensity score matching technique and investigated whether firms that start exporting experience higher growth in labor and the share of non-regular workers than do non-exporters. I found ...

  20. 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

  1. Is innovation destroying jobs? Firm-level evidence from the EU

    NARCIS (Netherlands)

    Piva, Mariacristina; Vivarelli, Marco

    2017-01-01

    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 labour-friendly impact of R&D expenditures. However, this positive employment effect appears limited in magnitude and entirely due to the

  2. 48 CFR 16.207 - Firm-fixed-price, level-of-effort term contracts.

    Science.gov (United States)

    2010-10-01

    ...-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-price, level-of-effort term contracts. ...

  3. 48 CFR 616.207 - Firm-fixed-price, level-of-effort term contracts.

    Science.gov (United States)

    2010-10-01

    ...-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, level-of-effort term contracts. ...

  4. 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 growth, but they make their most tangible contributions when they expand. In developing countries, however, the vast majority of micro and small enterprises never grow ...

  5. 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

  6. 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.

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

    Directory of Open Access Journals (Sweden)

    Weiwei Wu

    2018-02-01

    Full Text Available 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.

  8. 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

    2018-01-01

    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. PMID:29401714

  9. 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.

  10. 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 (...

  11. 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.

  12. FDI and Wages: Evidence from Firm-Level and Linked Employer-Employee Data in Hungary, 1986-2008

    OpenAIRE

    Earle, John S.; Telegdy, Álmos; Antal, Gábor

    2012-01-01

    We estimate the effects of foreign direct investment (FDI) acquisitions on firm-average and worker-specific wages using universal firm-level panel data and linked employer-employee data for Hungary. Our identification strategy exploits a 23 year-long panel with 4,926 foreign acquisitions to match on pre-acquisition data and to control for fixed effects for firms, detailed worker groups, and worker-firm matches. The estimates after these adjustments imply positive effects of about 12-27 percen...

  13. 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.

  14. 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.

  15. Shocks Abroad, Pain at Home? Bank-firm Level Evidence on the International Transmission of Financial Shocks

    NARCIS (Netherlands)

    Ongena, S.; Peydro, J.L.; van Horen, N.

    2013-01-01

    Abstract: We study the international transmission of shocks from the banking to the real sector during the global financial crisis. For identification, we use matched bank-firm level data, including many small and medium-sized firms, in Eastern Europe and Central Asia. We find that

  16. 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...

  17. 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

  18. 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.

  19. 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.

  20. Does the Common Currency Increase Exports? Evidence from Firm-Level Data

    Directory of Open Access Journals (Sweden)

    Cieślik Andrzej

    2014-10-01

    Full Text Available The main goal of this paper is to investigate empirically whether the adoption of the common currency increases the export activity of individual frms using the probity model. There are many studies that seek to estimate the aggregate trade effects of the adoption of the euro by the “outside” EU countries, which are based on the gravity model. In contrast to the existing literature we use an alternative micro econometric approach based on firm level data compiled by the EBRD and the World Bank. We demonstrate that the propensity to export of individual frms from Slovenia and Slovakia increased after the accession of those countries to the Eurozone.

  1. A capability theory of the firm: an economics and (Strategic) management perspective

    OpenAIRE

    Teece, DJ

    2017-01-01

    © 2017 New Zealand Association of Economists Incorporated The business enterprise is the prime institution in economic development and growth; yet, until recently, mainstream economics has mostly treated firms as homogeneous black boxes managed by untrustworthy agents. Using economic principles, the field of strategic management has developed a nuanced approach to understanding how firms are created, organized, and grow; how they innovate and compete; and how managers manage. That approach ha...

  2. 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

  3. 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.

  4. 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

  5. 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.

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

    Directory of Open Access Journals (Sweden)

    Santanu Mandal

    2015-12-01

    Full Text Available 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 integration. Further, supply chain innovation helps a firm to sustain its position in the market place through generation and launching of new products and services. Accordingly, the influence of supply chain innovation on firm performance is also investigated. Data is collected from logistics, purchasing and supply chain professionals working in different industries in India. The findings based on 169 responses largely support our proposed relationships.

  7. 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...

  8. 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.

  9. 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...... 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...

  10. 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

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

    DEFF Research Database (Denmark)

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

    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...

  12. 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…

  13. Is there an environmental benefit to being an exporter? Evidence from firm level data

    OpenAIRE

    Batrakova, Svetlana; Davies, Ronald B.

    2010-01-01

    One of the greatest concerns over globalisation is its impact on the environment. This paper contributes to this debate by analysing the consequences of becoming an exporter on a firm's energy consumption. We show both theoretically and empirically that for low fuel intensity firms exporting status is associated with higher fuel consumption while for high fuel intensity firms exporting is results in decreased fuel consumption. Further analysis reveals that higher fuel consumption of low fuel ...

  14. 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...

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

    NARCIS (Netherlands)

    Boermans, M.A.; Roelfsema, H.J.

    2015-01-01

    This study analyses how various internationalization modes affect innovation in ten transition economies. Using propensity score matching to account for selection, we match firms on size, sector, and country. A key contribution is that firms are also matched based on the heterogeneity of

  16. 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

  17. 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

  18. Strong Firms Lobby, Weak Firms Bribe

    DEFF Research Database (Denmark)

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

    We use survey responses by firms to examine the firm-level determinants and effects of political influence, their perception of corruption and prevalence of bribe paying. We find that: (a) measures of political influence and corruption/bribes are uncorrelated at the firm level; (b) firms...... 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...

  19. 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.

  20. 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

  1. 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

  2. TOWARDS A RESOURCE-BASED VIEW OF THE FIRM PERSPECTIVE ON ENHANCING CUSTOMER RELATIONSHIPS IN THE HOTEL INDUSTRY

    OpenAIRE

    Drohan, Richard; Foley, Anthony; Lynch, Patrick

    2009-01-01

    The Irish hotel industry is facing major challenges, with a rapidly increased bed capacity in the sector accompanied by an international economic slump. In addition, hotel guests have increasingly high levels of expectation about the quality of their hotel experience, and are sharing these views through travel sites such as Tripadvisor.com. This reinforces the need articulated in national strategy to enhance the business capability of Irish tourism firms (Fáilte Ireland 2004; Tourism Policy R...

  3. Public R&D subsidies and productivity : evidence from firm-level data in Quebec

    OpenAIRE

    Baghana, R.

    2010-01-01

    This paper analyses empirically the impacts of public R&D grants on private R&D investments and on the productivity growth of the manufacturing firms in a context where fiscal incentives are present. Using the conditional semiparametric differenceindifferences estimator on longitudinal data from Quebec we show that firms that use public grants for R&D in conjunction with tax credits for R&D perform better in terms of R&D input additionality than firms that use only tax credits for R&D. We the...

  4. Firm Model Design from the Perspective of Sustainable Circular Economy Paradigm

    Directory of Open Access Journals (Sweden)

    Florin-Răzvan Bălășescu

    2016-05-01

    Full Text Available As well known the sustainable circular economy is a regenerative oriented paradigm for transforming the waste into a valuable resource. In this framework, the business model appears in the form of an network architecture design that relates product, service and information flows, various business actors and their roles directed to potential benefits and value meanings, taking into account the technology-push, marketpull and regulatory innovative drivers and the linear and non- linear approaches to emphasize the importance of the connections between intentions and consequences as well as the complexity of social relationships between firm, consumers, investors and public authorities.

  5. Innovation Determinants in Emerging Countries: An Empirical Study at the Tunisian Firms level

    OpenAIRE

    Gabsi, Foued; Mhenni, Hatem; Koouba, Karim

    2008-01-01

    Explaining why some firms innovate and some others do not is an out-of-date challenge in the economic literature. In developing countries context, such exercise is even more complicated by the nature of the innovation (incremental, occasional and rarely continuous and structured). In this paper, an exploratory tentative logistic regression is presented based on an Innovation survey on Tunisian firms. With regard to the results on the two "traditional" determinants of innovation which are the ...

  6. Training, New Equipment and Job Creation: A Firm-level Analysis using Moroccan Data

    OpenAIRE

    Lahcen Achy; Khalid Sekkat

    2011-01-01

    Using a sample of 664 large, medium- and small-sized firms covering seven industries in Morocco, this article investigates whether the difference in their attitudes toward investment in human and physical capital explains their difference in terms of job creation. The lessons drawn from this investigation are expected to be useful for other least developed countries. The results support that such investment allows firms to create jobs, and this is robust to the inclusion of various additional...

  7. 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.

  8. 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.

  9. The Causal Effects of Exporting on Domestic Workers:A Firm-Level Analysis using Japanese Data

    OpenAIRE

    Ayumu Tanaka

    2012-01-01

    Japan has experienced rapid growth of non-regular workers under the globalization in 2000s. This study seeks to identify the causal effects of exporting on growth of labor and growth of the share of non-regular workers in Japanese manufacturing and wholesale sectors, using an extensive firm-level data. I employ propensity score matching technique and investigate whether firms that start exporting experience higher growth of labor and higher growth of the share of non-regular workers than non-...

  10. 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

  11. Aspiration Levels and R&D Search in Young Technology-Based Firms

    DEFF Research Database (Denmark)

    Candi, Marina; Saemundsson, Rognvaldur; Sigurjonsson, Olaf

    the same when performance surpasses aspirations. Both positive and negative outlooks reinforce the effects of performance feedback. The combined effect is that the more outcomes and expectations deviate from aspirations the more young technology-based firms invest in R&D search.......Decisions about allocation of resources to research and development (R&D), referred to here as R&D search, are critically important for competitive advantage. Using panel data collected yearly over a period of nine years, this paper re-visits existing theories of backward-looking and forward......-looking decision models for R&D search in the important context of young technology-based firms. Some of the findings confirming existing models, but overall the findings contradict existing models. Not only are young technology-based firms found to increase search when aspirations are not met, but they do...

  12. 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…

  13. 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

  14. 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

  15. Flexible Labor and Innovation Performance: Evidence from Longitudinal Firm-Level Data

    NARCIS (Netherlands)

    H. Zhou (Haibo); R. Dekker (Ronald); A. Kleinknecht (Alfred)

    2010-01-01

    textabstractFirms with high shares of workers on fixed-term contracts have significantly higher sales of imitative new products but perform significantly worse on sales of inno¬va¬tive new products (“first on the market”). High functional flexibility in “insider-outsider” la¬bor markets enhances a

  16. 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

  17. A RESOURCE-BASED VIEW OF NEW FIRM SURVIVAL: NEW PERSPECTIVES ON THE ROLE OF INDUSTRY AND EXIT ROUTE

    OpenAIRE

    SUSAN COLEMAN; CARMEN COTEI; JOSEPH FARHAT

    2013-01-01

    This article explores factors affecting the survival and exit routes of new firms created in 2004 using data from the Kauffman Firm Survey. We draw upon the Resource-Based View to test several hypotheses regarding the impact of both tangible and intangible resources on new firm survival in both service and non-service firms. We also distinguish between two types of exit: closures (permanently stopped operations) and mergers or acquisitions. Our results reveal that, although service and non-se...

  18. Corruption and Productivity : Firm-level Evidence from the BEEPS Survey

    OpenAIRE

    Gorg, Holger; Gooroochurn, Nishaal; De Rosa, Donato

    2010-01-01

    Using enterprise data for the economies of Central and Eastern Europe and the CIS, this study examines the effects of corruption on productivity. Corruption is narrowly defined as the occurrence of informal payments to government officials to ease the day-to-day operation of firms. The effects of this "bribe tax" on productivity are compared to the consequences of red tape, which may be un...

  19. Wage discrimination against immigrants: Measurement with firm-level productivity data

    OpenAIRE

    Kampelmann, Stephan; Rycx, François

    2016-01-01

    This paper is one of the first to use employer-employee data on wages and labor productivity to measure discrimination against immigrants. We build on an identification strategy proposed by Bartolucci (Ind Labor Relat Rev 67(4):1166-1202, 2014) and address firm fixed effects and endogeneity issues through a diff GMM-IV estimator. Our models also test for gender-based discrimination. Empirical results for Belgium suggest significant wage discrimination against women and (to a lesser extent) ag...

  20. ICT Standardization and use of ICT standards: a firm level analysis

    OpenAIRE

    Riillo, Cesare Fabio Antonio

    2014-01-01

    Standards perform some fundamental economic functions and their relevance for ICT is acknowledged by firms, researchers and policy-makers. This paper investigates the driving forces of formal ICT standards setting (i.e. standardization). Previous quantitative studies have neglected that ICT standards use and engagement in ICT standardization are related activities. Leveraging upon a unique module of the ICT usage survey 2013 for Luxembourg, the analysis explicitly takes into account the use o...

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

    DEFF Research Database (Denmark)

    Kaiser, Ulrich; Kuhn, Johan Moritz

    We study the effects of a Danish wage subsidy program for highly educated workers on the labor market outcomes of the persons participating in the program and on the performance of the firms that hired these subsidized workers. Using data on the population of program participants, both individuals...

  2. 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.

  3. 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

  4. The impacts of different expansion modes on performance of small solar energy firms: perspectives of absorptive capacity.

    Science.gov (United States)

    Chen, Hsing Hung; Shen, Tao; Xu, Xin-Long; Ma, Chao

    2013-01-01

    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.

  5. 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...

  6. 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,…

  7. 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

  8. 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.

  9. The market for firms

    DEFF Research Database (Denmark)

    Davis, Jerome Dean; Keiding, Hans

    2010-01-01

    In this paper, the pricing and sale of firms is approached from the owners' point of view. It is shown that there are very strong ex ante owner incentives to set prices of firm products or services below their short- term profit maximizing levels, since low prices signal low costs...... 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...

  10. 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.

  11. 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....

  12. 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.

  13. 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

  14. 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.

  15. Exploring the margins of Dutch exports: a firm-level analysis

    NARCIS (Netherlands)

    Creusen, H.; Kox, H.; Lejour, A.; Smeets, R.

    2011-01-01

    This paper utilizes new Dutch transaction-level data on international trade to investigate the microeconomic patterns of Dutch exports. First, we show that self-selection based on ex-ante productivity drives firms’ export decisions, which we subsequently relate to various sources of fixed

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

    OpenAIRE

    Chen, Hsing Hung; Shen, Tao; Xu, Xin-long; Ma, Chao

    2013-01-01

    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 organizationa...

  17. 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.

  18. 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

  19. 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

  20. 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 of th...... 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....

  1. 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...

  2. Corruption and firm behavior

    OpenAIRE

    Sandra Sequeira; Simeon Djankov

    2013-01-01

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

  3. The theory of the firm. Vol. 1

    DEFF Research Database (Denmark)

    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...... 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...

  4. The theory of the firm. Vol. 2

    DEFF Research Database (Denmark)

    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...... 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...

  5. The theory of the firm. Vol. 1

    DEFF Research Database (Denmark)

    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...... 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...

  6. The theory of the firm. Vol. 4

    DEFF Research Database (Denmark)

    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...... 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...

  7. The theory of the firm. Vol. 3

    DEFF Research Database (Denmark)

    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...... 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...

  8. The Difficulty of Climate Change Adaptation in Manufacturing Firms: Developing an Action-Theoretical Perspective on the Causality of Adaptive Inaction

    Directory of Open Access Journals (Sweden)

    Ulrike Meinel

    2018-02-01

    Full Text Available Climate change induces various risks for supply chains of manufacturing firms. However, surveys have suggested that only a minority of firms conducts strategic adaptations, which we define as anticipatory and target-oriented action with the purpose of increasing resilience to climate change. While several barrier-centered studies have investigated the causality of non-adaptation in industry, the examined barriers are often not problem-specific. Furthermore, it has been shown that even in cases when managers perceive no barriers to adaptation at all, strategic adaptations may still not be conducted. On this background, the present analysis focuses on the logic of adaptive inaction, which we conceive, in particular, as inaction with regard to strategic adaptations. Adopting an action-theoretical perspective, the study examines (a which aspects may shape the rationality of adaptive inaction among managers, (b which more condensed challenges of conducting strategic adaptations emerge for managers, and (c how the theoretical propositions can be tested. For this purpose, the study employs an exploratory approach. Thus, hypotheses on such aspects are explored, which may shape the rationality of adaptive inaction among managers. Subsequently, predictions are inferred from the theoretical propositions, which allow testing their empirical relevance. Methodologically, the hypotheses are explored by reexamining existing explanatory approaches from literature based on a set of pretheoretical assumptions, which include notions of bounded rationality. As a result, the study proposes 13 aspects which may constrain managers in conducting adaptations in such a way, which serves the economic utility of the firm. By condensing these aspects, 4 major challenges for managers are suggested: the challenges of (a conducting long-term adaptations, of (b conducting adaptations at an early point in time, of (c conducting adaptations despite uncertain effects of the

  9. 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.

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

    DEFF Research Database (Denmark)

    Nielsen, René Nesgaard

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

  11. 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

  12. 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.

  13. The relationship between trade credit, bank credit and financial structure : from firm-level non-linearities to financial development heterogeneity. A study on MENA firm-level data

    OpenAIRE

    Jézabel Couppey-Soubeyran; Jérôme Héricourt

    2011-01-01

    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 2011.08 - ISSN : 1955-611X; Using a database of more than 1,100 firms in the MENA region, this article looks at the determinants of demand for trade credit, particularly access to bank credit, size, age and the quality of the firm's financial structure. We show that the difficulty of gaining acces to bank credit positively in...

  14. 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...

  15. Linking the levels: network and relational perspectives for community psychology.

    Science.gov (United States)

    Neal, Jennifer Watling; Christens, Brian D

    2014-06-01

    In this article, we assert that relationships and networks are of paramount importance for understanding and improving settings, neighborhoods, communities, and larger social systems. Despite previous acknowledgements of their relevance, relational and social network perspectives and analyses remain underrepresented in community psychological research and action. Here, we claim that network and relational perspectives can provide conceptual and empirical 'links' between levels of analysis, more fully reflecting a transactional view. We also describe some of the sophisticated methodologies that can be employed in empirical studies drawing on these perspectives. Additionally, we contend that core concepts in community psychology such as health promotion, empowerment, coalition building, and dissemination and implementation can be better understood when employing relational and network perspectives. As an introduction to this special issue of American Journal of Community Psychology, we draw out themes and key points from the articles in the issue, and offer recommendations for future advancement of these perspectives in the field.

  16. 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.

  17. 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

    , 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...

  18. The Multinational Firm

    DEFF Research Database (Denmark)

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

    In contrast to the traditional view of multinational firms as cohesive rational actors maximizing the use of resources across national boundaries, the contributors to this volume argue that they are complex social arenas where competing groups draw on resources from their own socially-embedded lo......In contrast to the traditional view of multinational firms as cohesive rational actors maximizing the use of resources across national boundaries, the contributors to this volume argue that they are complex social arenas where competing groups draw on resources from their own socially....... 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...

  19. 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 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...... manufacturing. Our empirical results confirm that foreign entry indeed generates strong heterogeneous growth patterns among domestic firms....

  20. INVESTMENT CLIMATE ASSESSMENT IN INDONESIA, MALAYSIA, THE PHILIPPINES AND THAILAND: RESULTS FROM POOLING FIRM-LEVEL DATA

    OpenAIRE

    ALVARO ESCRIBANO; J. LUIS GUASCH; MANUEL DE ORTE; JORGE PENA

    2009-01-01

    Investment Climate surveys (ICs) are a recent instrument used by the World Bank to identify key obstacles to country competitiveness and to guide policy reforms and government interventions in developing countries. In this paper, panel data from four ICs of four South East Asian (SEA) countries namely, Indonesia, Malaysia, The Philippines, and Thailand, are pooled to estimate total factor productivity (TFP) and allocative efficiency aspects of firms in each country, using variants of the Olle...

  1. Determinants of Different Modes of FDI: Firm-Level Evidence from Japanese FDI into the United States

    OpenAIRE

    D. Alba, Joseph; Park, Donghyun; Wang, Peiming

    2010-01-01

    There are four major modes through which firms undertake foreign direct investment (FDI): merger and acquisition (M&A), joint venture, new plant, and others. The four modes of FDI are distinct from each other, and each has its own unique advantages and disadvantages. While a large and growing empirical literature examines the determinants of FDI, very few studies examine the determinants of the different modes. The central objective of this paper is to empirically analyze the extent to which ...

  2. Micro Level Perspectives on Growth (Tanzania) | IDRC ...

    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 ...

  3. The behavioral impacts of firm-level energy-conservation goals in China's 11th five-year plan.

    Science.gov (United States)

    Wu, Dan; Xu, Yuan; Leung, Yee; Yung, Chor Wing

    2015-01-06

    Energy efficiency is one of the most effective means of curbing energy consumption and associated pollutant emissions. However, energy-saving opportunities at negative net costs, or an energy-efficiency gap, widely exist and they defy an entirely rational explanation. This paper examines the significant overperformance of energy-intensive firms against their assigned energy-conservation goals in a national program in China's 11th Five-Year plan (2006-2010). Higher energy prices can be only partially responsible for more active energy saving. Behavioral constraints are explained to cause the bounded rationality of firms on energy-efficiency investment. As our theoretical and empirical studies show, energy-conservation goals could overcome such behavioral constraints to accelerate the commercialization of energy-efficiency technologies, reduce uncertainty and hesitancy of relevant investment, facilitate the enrichment of information, and concentrate the attention of firms on energy conservation. We conclude that goal-setting could provide an effective complementary policy instrument in dealing with energy conservation in China and possibly in other parts of the world.

  4. 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...

  5. 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.

  6. Endogenous Markups, Firm Productivity and International Trade:

    DEFF Research Database (Denmark)

    Bellone, Flora; Musso, Patrick; Nesta, Lionel

    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...

  7. The effects of safety practice, technology adoption, and firm characteristics on motor carrier safety

    Science.gov (United States)

    2004-01-01

    The theory of the firm suggests that firms should maximize profit by investing in safety until : marginal cost is equal to the marginal benefit. This paper addresses motor carrier safety from the : perspective of the firm, developing the theoretical ...

  8. 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...... the primary concern despite the recently adaption of the new Patent Law in China; (4) EU firms are most interested in selling obsolete technologies and licensing state-of-art technologies to China....

  9. 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.

  10. 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”.

  11. 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.

  12. 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.

  13. 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.

  14. New Firm Growth: Exploring Processes and Paths

    NARCIS (Netherlands)

    E. Garnsey; F.C. Stam (Erik); P. Heffernan; O. Hugo

    2003-01-01

    textabstractThis paper provides a new methodology for the diachronic study of new firm growth, theoretically grounded in the work of Penrose (1995). We show that a model of firm growth as an unfolding process makes possible draw simple, measurable inferences from firm level to aggregate evidence on

  15. 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....... 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...

  16. International Taxation and Multinational Firm Location Decisions

    OpenAIRE

    Salvador Barrios; Harry Huizinga; Luc Laeven; Gaëtan Nicodème

    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 ...

  17. 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...

  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...

  19. 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.

  20. 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....

  1. 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

  2. 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

    for major changes in senior management concerns and activities- i.e., in the way senior managers manage. This paper identifies the essential understanding of AMMS that senior managers must have and the essential leadership roles that senior managers must be willing to fulfill in order to lead their firms...

  3. Procurement with specialized firms

    DEFF Research Database (Denmark)

    Boone, Jan; Schottmüller, Christoph

    2016-01-01

    This paper analyzes 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 l...

  4. 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

  5. Universities-industry collaboration strategies: a micro-level perspective

    DEFF Research Database (Denmark)

    Bjerregaard, Toke

    2009-01-01

    Purpose - The purpose of this paper is to examine the collaboration strategies employed by collaborating small- and medium-sized enterprises (SMEs) and university researchers for initiating and optimizing the process and outcome of R&D collaboration. Design/methodology/approach - The paper is based...... of the present research point to the importance of taking the diverse reasons and micro strategies informing collaborative efforts into account when studying UI collaborations. Practical implications - Different strategies may prove successful in optimizing the outcome of UI collaborations depending upon, e.......g. partners' previous collaborative experiences. Policies should incorporate some openness towards the differential premises and reasons for UI collaboration. Originality/value - Relatively little research has addressed the development of UI relationships from the micro-level perspective of the discretionary...

  6. 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...

  7. 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......, the delisting and valuation pattern is the same across markets, whereas AIM listed firms raise relatively more capital. Thus, rather than catering to low quality firms seeking to conceal their type, the AIM market attracts small firms that - due to size - face disproportional regulatory costs, but are otherwise...... equivalent to firms listing in more regulated markets...

  8. How Creative Professional Service Firms Internationalize: a business model portfolio approach

    OpenAIRE

    McQuillan, Deirdre; Sharkey Scott, Pamela; Mangematin, Vincent

    2013-01-01

    Traditional theory of firm internationalization assumes all firms are homogeneous in their approach to managing uncertainties and implementing business strategies when internationalizing. A business model portfolio approach articulates a more complex process and suggests that firms adopt a portfolio of business models to balance uncertainties. Combining these two perspectives, this multiple case study research design explores how creative professional service firms (creative PSFs) internation...

  9. Portfolio effects and firm size distribution : carbonated soft drinks

    OpenAIRE

    Ciara Whelan; Patrick P. Walsh

    2002-01-01

    PUBLISHED We use rich brand level retail data to demonstrate that the firm size distribution in Carbonated Soft Drinks is mainly an outcome of the degree to which firms own a portfolio of brands across segments of the market, and not from performance within segments. In addition, while the number of firms in each segment is limited by segment size relative to sunk cost and competition in a segment, idiosyncratic firm effects make some firms more likely to participate in any given segment. ...

  10. A Systems-Level Perspective on Engine Ice Accretion

    Science.gov (United States)

    May, Ryan D.; Guo, Ten-Huei; Simon, Donald L.

    2013-01-01

    The accretion of ice in the compression system of commercial gas turbine engines operating in high ice water content conditions is a safety issue being studied by the aviation sector. While most of the research focuses on the underlying physics of ice accretion and the meteorological conditions in which accretion can occur, a systems-level perspective on the topic lends itself to potential near-term operational improvements. This work focuses on developing an accurate and reliable algorithm for detecting the accretion of ice in the low pressure compressor of a generic 40,000 lbf thrust class engine. The algorithm uses only the two shaft speed sensors and works regardless of engine age, operating condition, and power level. In a 10,000-case Monte Carlo simulation, the detection approach was found to have excellent capability at determining ice accretion from sensor noise with detection occurring when ice blocks an average of 6.8% of the low pressure compressor area. Finally, an initial study highlights a potential mitigation strategy that uses the existing engine actuators to raise the temperature in the low pressure compressor in an effort to reduce the rate at which ice accretes.

  11. The Effect of Institutional Evolution on Indian Firms' Internationalization

    DEFF Research Database (Denmark)

    Stucchi, Tamara; Pedersen, Torben; Kumar, Vikas

    2015-01-01

    We draw upon the institutional theoretical perspective to study Indian firms' internationalization during periods of institutional change. We focus on firms establishing a subsidiary abroad. We delve into the nature of institutional change and propose two categories of institutional change...... that promote firms' internationalization in a context characterized by dynamic change. The results of our study have significant theoretical and managerial implications....... that have impacts of different magnitudes on international investments. We also investigate the case of firms affiliated with domestic business groups. We develop four hypotheses and test them using data on Indian firms. Our findings provide interesting insights into different institutional factors...

  12. 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…

  13. 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.

  14. How Firms Make Boundary Decisions

    DEFF Research Database (Denmark)

    Dobrajska, Magdalena; Billinger, Stephan; Becker, Markus

    2014-01-01

    , and (b) how the firm arrived at a particular transactional choice in each decision. We find that decision makers extensively adapt decision structures in order to effectively make governance mode choices. They adapt hierarchy span, i.e. the number of hierarchical levels involved, and expertise span, i...

  15. 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...

  16. Foreign Firms, Domestic Wages

    DEFF Research Database (Denmark)

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

    Foreign-owned firms are often hypothesized to generate productivity "spillovers" to the host country, but both theoretical micro-foundations and empirical evidence for this are limited. We develop a heterogeneous-firm model in which ex-ante identical workers learn from their employers in proporti...... 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......Foreign-owned firms are often hypothesized to generate productivity "spillovers" to the host country, but both theoretical micro-foundations and empirical evidence for this are limited. We develop a heterogeneous-firm model in which ex-ante identical workers learn from their employers in proportion...

  17. Interaction enablers, drivers and barriers of collaborative innovation projects between small firms and academia

    DEFF Research Database (Denmark)

    Filip, Diane; Hansen, Bettina Dencker; Frølunde, Thea Thorsgaard

    2016-01-01

    Collaborative innovation projects are boundary-crossing activities in which knowledge bases from practice and academia are combined for innovations in small firms. In this study, small firms gain access to academic knowledge resources through a structured and formalized regional program. From...... a process-perspective, we explore five case studies and identify elements of collaborative innovation projects between small firms, academic researchers, and independent third parties in a Danish regional program. The elements are categorized into interaction enablers, collaboration characteristics, main...... drivers, and main barriers. Our three major findings relate to the phases of a structured program, elements of collaborative innovation projects, and the facilitation of interaction at two levels, i.e. meta-level and micro-level, by two types of brokers. The operator of the regional program facilitates...

  18. 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...

  19. 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

  20. Managing firm competitiveness in global markets

    NARCIS (Netherlands)

    Gehlhar, M.; Regmi, A.; Stefanou, S.E.; Zoumas, B.

    2006-01-01

    The globalization profile of US food firms is mixed. US sales from foreign direct investment is now over six times the level of exports, while US processed food trade balance has moved from +$9 billion in 1995 to - $7 billion in 2004. Competitive forces drive firms to seek new areas of growth, with

  1. 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....

  2. Taxing the Financially Integrated Multinational Firm

    DEFF Research Database (Denmark)

    Johannesen, Niels

    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......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...... 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...

  3. Advertising Spending, Firm Performance, and the Moderating Impact of CSR

    DEFF Research Database (Denmark)

    Assaf, A. George; Josiassen, Alexander; Ahn, Jin Sun

    2017-01-01

    This article investigates the potential of corporate social responsibility (CSR) to influence the link between advertising spending and firm performance. Drawing upon the literature of CSR, we hypothesize that CSR positively moderates the relationship between advertising spending and firm...... performance. We focus on two types of firm performance: sales and firm value. Using two samples from both the hotel and restaurant industries, we found that firms with higher levels of CSR enjoy higher returns on advertising spending than firms with lower levels of CSR. We discuss the theoretical...

  4. 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...... only, downstream only, sequential upstream-downstream, and or concurrent upstream-downstream routes. The implication of these perspectives for policy, strategy and research are discussed....

  5. 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. PMID:26042075

  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. 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 framew...

  9. Location of New Firms

    DEFF Research Database (Denmark)

    Backman, Mikaela; Karlsson, Charlie

    2017-01-01

    In the entrepreneurship literature, it is generally assumed that an individual establishes a new firm in a location in which they have strong ties, normally in the municipality of residence or employment. We scrutinise this general assumption and show that firm location depends on individual...

  10. 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

  11. 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.

  12. 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.

  13. 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.

  14. 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

  15. Firm Heterogeneity and Different Modes of Internationalization: Evidence from Japanese Firms

    OpenAIRE

    Ryuhei Wakasugi; Ayumu Tanaka

    2009-01-01

    This paper examines how differently productivity heterogeneity of firms sorts their export and foreign direct investment (FDI) between North and South as well as between single and multiple destinations. The empirical examinations based on 12,000 Japanese firm-level data present new findings; the rank of productivity differently sorts the internationalization modes between North (North America and Europe) and South (East Asia); the productivity of firms internationalizing in both North Americ...

  16. Strong Firms Lobby, Weak Firms Bribe: A survey-based analysis of the demand for influence and corruption

    OpenAIRE

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

    2009-01-01

    We use survey responses by firms to examine the firm-level determinants and effects of political influence, their perception of corruption and prevalence of bribe paying. We find that: (a) measures of political influence and corruption/bribes are uncorrelated at the firm level; (b) firms 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) in...

  17. 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...

  18. The Globalisation of Firms as a Social Evolutionary Process

    OpenAIRE

    Thomas Borghoff

    2011-01-01

    From a social systems theory perspective, globalisation can be conceptualised as an evolutionary social process. By fusing systems theories, evolutionary theories, and organisation theories, globalisation becomes apparent as a historical social process, which encompasses the emergence and reproduction of social systems such as firms or other organisations within the wider process of the globalisation of society. The conceptualisation of firms as social systems also opens new perspectives on m...

  19. The Cost Of Diversification: An Organizational Perspective

    OpenAIRE

    Namhoon Kwon

    2004-01-01

    This paper approaches the issue of corporate diversification from the perspective of the theory of firm. The cost of diversification is identified by the loss of innovative information due to increased communication requirement within the firm. The level of diversification is shown to decrease with a better information processing technology and stabler business environment. These results are in accordance with historical and industrial patterns of diversification.

  20. Foreign Firms, Domestic Wages

    DEFF Research Database (Denmark)

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

    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...... 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...

  1. Technology Licensing and Firm Innovation

    DEFF Research Database (Denmark)

    Moreira, Solon

    that facilitate or constrain firms' ability to deal with licensed-in technologies have received little attention. This paper starts investigating in a longitudinal setting the effect of technology licensing on the number of patents produced by the licensee within the three years subsequent to the technology...... 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. 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...... that facilitate or constrain firms' ability to deal with licensed-in technologies have received little attention. This paper starts investigating in a longitudinal setting the effect of technology licensing on the number of patents produced by the licensee within the three years subsequent to the technology....... 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....

  3. 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....

  4. Firms navigating through innovation spaces: a conceptualization of how firms search and perceive technological, market and productive opportunities globally.

    Science.gov (United States)

    McKelvey, Maureen

    2016-01-01

    The main contribution of this paper is a theory-based conceptual framework of innovation spaces, and how firms must navigate through them to innovate. The concept of innovation systems - at the regional, sectoral and national levels - have been highly influential. Previous literature developing the concept of innovation systems has stressed the importance of institutions, networks and knowledge bases at the regional, sectoral and national levels. This paper primarily draws upon an evolutionary and Schumpeterian economics perspective, in the following three senses. The conceptualization of 'innnovation spaces' focuses upon how and why firm search for innovations is influenced the opportunities within certain geographical contexts. This means that the firm create opportunities and can span different context, but they are influence by the context in term of the access, flow and co-evolution of ideas, resources, technology, people and knowledge, which help stimulate business innovation in terms of products, process and services. The paper concludes with an agenda for future research and especially the need to focus on globalization as a process of intensifying linkages across the globe.

  5. 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...

  6. 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.

  7. Financing firms in India

    OpenAIRE

    Allen, Franklin; Chakrabarti, Rajesh; De, Sankar; Qian, Jun; Qian, Meijun

    2006-01-01

    The authors examine the legal and business environments, financing channels, and governance mechanisms of various types of firms in India and compare them to those from other countries. Despite its English commonlaw origin, strong legal protection provided by the law, and a democratic government, corruption within India's legal system and government significantly weakens investor protection in practice. External financing of firms has been dominated by nonmarket sources of financing, while th...

  8. Cash Holdings and Leverage of German Listed Firms

    DEFF Research Database (Denmark)

    Rapp, Marc Steffen; Killi, Andreas Maximilian

    2016-01-01

    with standard firm characteristics, our results suggest a fundamental change in firms’ financial policies: In the second half of the sample period, both established firms and IPO firms exhibit substantially higher (lower) cash (net debt leverage) levels than predicted. The unexpected changes among established...

  9. 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...

  10. Corporate Governance and Firm Value: Empirical Evidence in Malaysia

    OpenAIRE

    Tan, Mabel Yunn Ru

    2009-01-01

    Well governed firms have been noted to have higher firm performance. However, this is still an empirical question in the context of Malaysia. This paper aims to examine the effect of corporate governance practices on firm value among 151 public listed companies on Bursa Malaysia Main Board between 2006 and 2008. We use the overall governance practice scores (CGS) to measure the level of compliance carried out by the sample firms. The results find that better corporate governance is highly cor...

  11. Global Sourcing of Heterogeneous Firms: Theory and Evidence

    DEFF Research Database (Denmark)

    Kohler, Wilhelm; Smolka, Marcel

    2015-01-01

    The share of international trade within firm boundaries varies greatly across countries. This column presents new evidence on how the productivity of a firm affects the choice between vertical integration and outsourcing, as well as between foreign and domestic sourcing. The productivity effects...... found in Spanish firm-level data suggest that contractual imperfections distort the sourcing of inputs in the global economy, and that firm boundaries emerge in response to mitigate this distortion....

  12. 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 ...

  13. Firms and the global crisis: French exports in the turmoil

    OpenAIRE

    Bricongne, Jean-Charles; Fontagné, Lionel; Gaulier, Guillaume; Taglioni, Daria; Vicard, Vincent

    2010-01-01

    Global trade contracted quickly and severely during the global crisis. This paper, using a unique dataset of French firms, matching together export data with firm-level credit constraints, shows that most of the 2008-2009 trade collapse is accounted by the unprecedented demand shock and by product characteristics. While all firms have been evenly affected by the crisis, large firms did so mainly through the intensive margin and by reducing the portfolio of products offered in each destination...

  14. 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.

  15. 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.

  16. Determinants of Productivity of Ukrainian Firms

    Directory of Open Access Journals (Sweden)

    Cieślik Andrzej

    2017-03-01

    Full Text Available This paper examines the determinants of total factor productivity (TFP of Ukrainian firms in manufacturing and services, using micro-level data for the years 2005 and 2013. We first estimate regressions for the pooled dataset for the manufacturing and service sectors jointly, and then separately for each sector. Our empirical results show a positive link between the total factor productivity, intangible assets, capital intensity, firm size, competition in the industry, ownership status, and firm internationalization (exports and imports. In addition, we find that the determinants of productivity differ among the sectors and years of our sample.

  17. Financial centers and firm performance during the crisis period

    DEFF Research Database (Denmark)

    Farooq, Omar; El Ouadrhiri, Khadija

    2014-01-01

    How does location of a firm’s headquarter impact its performance during the crisis period? This paper answers this question by using the data from India. Our results show that firms headquartered in Mumbai, the main financial center of the country, significantly outperform other firms during...... the recent global financial crisis. We argue that firms headquartered in the financial center have better information environment than other firms. One of the channels via which improvement in information environment takes place is the clustering of firms in the financial center. We believe that, for any...... given level of resources, it is relatively cost effective for stock market participants to expend their resources on clustered firms to obtain value relevant information than on dispersed firms, thereby improving information environment of firms headquartered in the financial centers relative to other...

  18. 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...

  19. 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 ...

  20. 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...... 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.......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...

  1. 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......Over the past decade, research on innovation in family firms has received growing attention by scholars and practitioners around the globe with a wide range of aspects explored within the current body of literature. Despite the constantly growing number of scientific publications, research lacks...... a comprehensive and critical review of past and present research achievements. First, conducting a bibliometric analysis with a focus on innovation in family firms, we identify five topical clusters that help to understand the foundations of recent findings: namely ownership and governance, structural settings...

  2. 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“.

  3. Which Firms Use Measures?

    DEFF Research Database (Denmark)

    Rahbek Pedersen, Esben; 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....... Originality/value – Much has been said about how changes in the environment and business structure require firms to develop new ways to measure performance. Less has been done to study whether firms adopting comprehensive PM systems actually match the characteristics of the “new economy”. The findings from...

  4. Does Design Activity Stimulate Firm Productivity? (Japanese)

    OpenAIRE

    KAWAKAMI Atsushi; EDAMURA Kazuma

    2015-01-01

    This paper investigates the influence of firms' design activity to total factor productivity using firm-level data from the Basic Survey of Japanese Business Structure and Activities and the Survey on Research Activities of Private Corporations. We adopt two approaches for calculating design activity. First, we regard registered design as a design activity. Second, we calculate design investment from the Survey on Research Activities of Private Corporations and estimate the relation between d...

  5. INTERNATIONALIZATION IN TAIWANESE FAMILY FIRMS

    OpenAIRE

    Hsiang-Lan Chen

    2011-01-01

    This paper studies the corporate internationalization decision of family firms and the effect of family ownership on internationalization. Using a panel data set of manufacturing firms listed on the Taiwan Stock Exchange during 2000–2007, the empirical results indicate that internationalization is positively and significantly related to family firms and family ownership. The findings suggest that, compared with non-family firms, family firms are more likely to internationalize. Additionally...

  6. Industrial dynamics beyond the lead firms

    DEFF Research Database (Denmark)

    Haakonsson, Stine Jessen; Slepniov, Dmitrij

    2013-01-01

    and link up with domestic lead firms. In pursuing the principal objectives of the paper, we combine two analytical frameworks for the outside-in perspectives of economic geography with the more inside-out perspective from international business and organizational studies. On the one hand, this combination......Since the turn of the millennium, China has developed into a core location for the wind energy industry and is today the largest market for wind turbines. These developments have caught attention among scholars. However, most research is on the development of the market and the lead firm strategies...... for market access or on innovation, capability building and technology transfer in the industry. The main objective of this paper is to look ‘beyond the lead firms’. We seek to advance the understanding of how the recent changes in the industry affect producers of key components and their role...

  7. Industrial Dynamics Beyond the Lead Firms

    DEFF Research Database (Denmark)

    Haakonsson, Stine Jessen; Slepniov, Dmitrij

    2013-01-01

    for market access or on innovation, capability building and technology transfer in the industry. The main objective of this paper is to look ‘beyond the lead firms’. We seek to advance the understanding of how the recent changes in the industry affect producers of key components and their role......Since the turn of the millennium, China has developed into a core location for the wind energy industry and is today the largest market for wind turbines. These developments have caught attention among scholars. However, most research is on the development of the market and the lead firm strategies...... and link up with domestic lead firms. In pursuing the principal objectives of the paper, we combine two analytical frameworks for the outside-in perspectives of economic geography with the more inside-out perspective from international business and organizational studies. On the one hand, this combination...

  8. Collaborative Communities of Firms

    DEFF Research Database (Denmark)

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

    2011-01-01

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

  9. Servitization in Industrial Firms

    DEFF Research Database (Denmark)

    Hsuan, Juliana; Frandsen, Thomas; Raja, Jawwad

    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...... 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...... - The relative frequency of different service categories and variation across industries - The characteristics of the analyzed companies in terms of size, turnover and EBIT...

  10. 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.

  11. 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...... originating from emerging economies. It explores new horizons in international business development and addresses challenging perspectives....

  12. Two-level cervical disc replacement: perspectives and patient selection

    Directory of Open Access Journals (Sweden)

    Narain AS

    2017-02-01

    Full Text Available Ankur S Narain, Fady Y Hijji, Daniel D Bohl, Kelly H Yom, Krishna T Kudaravalli, Kern Singh Department of Orthopedic Surgery, Rush University Medical Center, Chicago, IL, USA Introduction: Cervical disc replacement (CDR is an emerging treatment option for cervical degenerative disease. Postulated benefits of cervical disc replacement compared to anterior cervical discectomy and fusion include preserved motion at the operative segments and decreased motion at adjacent levels. Multiple studies have been performed investigating the outcomes of CDR in single-level pathology. The investigation of the use of CDR in two-level pathology is an emerging topic within the literature.Purpose: To critically evaluate the literature regarding two-level CDR in order to determine its utility compared to two-level cervical arthrodesis. Patient selection factors including indications and contraindications will also be explored.Methods: The PubMed database was searched for all articles published on the subject of two-level CDR up until October 2016. Studies were classified by publication year, study design, sample size, follow-up interval, and conflict of interest. Outcomes were recorded from each study, and included data on patient-reported outcomes, radiographic measurements, range of motion, peri- and postoperative complications, heterotopic ossification, adjacent segment disease, reoperation rate, and total intervention cost. Results: Fourteen studies were included in this review. All studies demonstrated at least noninferiority of two-level CDR compared to both two-level arthrodesis and single-level CDR. Patient selection in two-level CDR is driven by the inclusion and exclusion criteria presented in prospective, randomized controlled trials. The most common indication is subaxial degenerative disc disease over two contiguous levels presenting with radiculopathy or myelopathy. Furthermore, costs analyses trended toward at least noninferiority of two-level

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

    OpenAIRE

    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 help firms to conduct new expansions and enhance learning from these new steps. However, do firms in the current globalized business environment really take incremental steps in expanding into new ma...

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

    African Journals Online (AJOL)

    Objective: This study investigated the level of depression among religious minority adolescents(Christians and Hindus) in comparison with their dominant counterparts (Muslims) in Pakistan. For this purpose, based on literature available, we hypothesised that adolescents of religious minorities would have a higher level of ...

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

    African Journals Online (AJOL)

    and technology for innovation in the agricultural sector remains weak. Indicators from the World Bank's. Knowledge Economy Index (KEI). Ethiopia, for example, show that the country possesses weak national-level abilities to generate, adopt, and disseminate knowledge. National-level studies by Spielman et al. (2007),.

  16. 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...

  17. Servitization in Industrial Firms

    DEFF Research Database (Denmark)

    Hsuan, Juliana; Frandsen, Thomas; Raja, Jawwad

    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...

  18. Levels of Social Capital in Internationalization

    DEFF Research Database (Denmark)

    Decker, Arnim

    2016-01-01

    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.......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...

  19. 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.

  20. 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

  1. Cyclicality and Firm Size in Private Firm Defaults

    DEFF Research Database (Denmark)

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

    2017-01-01

    The Basel II/III and CRD IV Accords reduce capital charges on bank loans to smaller firms by assuming that the default probabilities of smaller firms are less sensitive to macroeconomic cycles. We test this assumption in a default intensity framework using a large sample of bank loans to private...... Danish firms. We find that controlling only for size, the default probabilities of small firms are, in fact, less cyclical than the default probabilities of large firms. However, accounting for firm characteristics other than size, we find that the default probabilities of small firms are equally...... cyclical or even more cyclical than the default probabilities of large firms. These results hold using a multiplicative Cox model as well as an additive Aalen model with time-varying coefficients....

  2. 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 ...

  3. 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 ...

  4. 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.

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

    DEFF Research Database (Denmark)

    Knudsen, Thorbjørn

    2007-01-01

    This article discusses the limits of a purely transaction cost explanation of the existence of the firm by pointing to additional factors. A simple heuristic model shows that firm-specific learning effects can overcome the costs of monitoring employees, and explain the existence of the firm even ...

  6. 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...

  7. Do exporting firms in the People's Republic of China innovate?

    OpenAIRE

    Wignaraja, Ganeshan

    2012-01-01

    With international trade spluttering amidst the Great Recession, there is renewed interest in the factors driving firm-level export performance in Asia's super exporter - The People's Republic of China (PRC). While early studies suggested that innovation was important, there has been little research on opening up the black box of technology at firm-level in the PRC. This paper undertakes econometric analysis of innovation, learning, and exporting in automobiles and electronics firms in the PR...

  8. 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...

  9. 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

  10. 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

  11. 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...... ownership facilitates experimentingentrepreneurship: Acquiring a bundle of property rights is a low cost means of carrying outcommercial experimentation. In this approach, the existence of the firm may be understood interms of limits to the market for judgment relating to novel uses of heterogeneous assets...

  12. 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).

  13. 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

  14. Web traffic and firm performance

    DEFF Research Database (Denmark)

    Farooq, Omar; Aguenaou, Samir

    2013-01-01

    -traffic on firm performance in civil law countries, firms with concentrated ownership, and firms with more intangible assets. All of these groups are characterized by higher agency problems. Our results, therefore, indicate that web-traffic can play a substitute for traditional governance mechanisms in the MENA...

  15. 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.

  16. 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.

  17. 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...

  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 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

  20. Dynamic Embeddedness in Chinese Firm Internationalization

    DEFF Research Database (Denmark)

    Lattemann, Christoph; Alon, Ilan; Spigarelli, Francesca

    2017-01-01

    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...... 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...

  1. 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…

  2. 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…

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

    African Journals Online (AJOL)

    1) understanding risk and risk management, (2) risk identification, (3) risk assessment and methods employed in managing risks (4) implementation of risk management methods, (5) risk monitoring and (6) future prospect of risk management.

  4. Entrepreneurship and the Firm

    DEFF Research Database (Denmark)

    Foss, Nicolai Juul; Klein, Peter G.

    topics. These include knowledge management, authority and hierarchy, modularity, corporate restructuring, telecommunications regulation and competitive advantage. They clearly show how Austrian ideas can usefully engage, challenge and extend more mainstream perspectives on economic organization....

  5. Do specialists exit the firm outsourcing its R&D?

    DEFF Research Database (Denmark)

    Wang, Wenjing

    Do specialists exit the firm increasingly outsourcing its research and development (R&D) work? Although this question is critical in understanding how R&D outsourcing links to innovation performance, the answer is not yet clear. This paper proposes that the optimal level of firm's internal employ...... random effects (CRE) Tobit, CRE selection and CRE fractional response models on a panel dataset of Danish firms....

  6. Heterogeneous Firms and Imperfect Substitution: The Productivity Effect of Migrants

    OpenAIRE

    Anette Haas; Michael Lucht

    2013-01-01

    To examine the impact of migrants on the average firm productivity, wages and welfare we construct a general equilibrium model with monopolistic competition a la Melitz (2003) considering heterogeneous firms with different productivity levels and imperfect substitutability between migrants and natives. This gives rise to wage differences between natives and migrants. As a consequence firms with a higher share of migrants realize wage cost advantages. The heterogeneous distribution of migrants...

  7. Export, Productivity and Product Switching: The Case of Italian Manufacturing Firms

    OpenAIRE

    Sergio de Nardis; Carmine Pappalardo

    2009-01-01

    During the first half of the current decade, with rising competitive pressures, Italian manufacturing firms were forced to undertake a process of restructuring which had positive repercussions on export performance. This paper carries out empirical analysis using a panel of exporting firms obtained by matching firm-level information gathered by ISTAT and ISAE surveys. Two main channels of adjustment are investigated: inter and intra-firm. On the inter-firm side, we find that exporters were ac...

  8. 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...... 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....

  9. 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

  10. Innovation Management in Project-Based Firms

    NARCIS (Netherlands)

    F.P. Blindenbach

    2006-01-01

    textabstractProject-based firms have an organizational structure, capabilities and routines that clearly distinguish them from manufacturing firms. Some have claimed that these characteristics make project-based firms more innovative than, for instance, manufacturing firms, others argue the

  11. 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.

  12. Practices of Intra- and Inter-Firm Technology Transfer in the Thai Automobile Industry 【Report】

    OpenAIRE

    Techakanont, Kriengkrai

    2001-01-01

    The main objective of this paper is to investigate actual practices of technology transfer in a recent automobile assembly project in Thailand and investigations are done at both intra-firm level - from theJapanese automaker (J-firm) to its affiliate (T-firm) - and inter-firm level - from J-firm to T-firm's sup-pliers. Necessary information was collected through field surveys, including factory visits and inter-views with J-firm, T-firm and suppliers, and a questionnaire survey on suppliers. ...

  13. 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.

  14. Tests of Alternative Theories of Firm Growth.

    OpenAIRE

    Evans, David S

    1987-01-01

    This study examines the relationships among firm growth, firm size, and firm age for a sample of manufacturing firms between 1976 and 1982. Firm growth is found to decrease with firm age and firm size. These findings are robust to alternative assumptions concerning the effects of sample censoring and the functional form of the growth relationship. The inverse growth-age relationship is consistent with a theory of firm learning proposed by Boyan Jovanovic while the inverse growth-size relation...

  15. 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...

  16. 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.

  17. 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...

  18. Family Succession and Firm Performance: Evidence from Italian Family Firms

    OpenAIRE

    Marco Cucculelli; Giacinto Micucci

    2008-01-01

    This article contributes to the growing empirical literature on family firms by studying the impact of the founder�chief executive officer (CEO) succession in a sample of Italian firms. We contrast firms that continue to be managed within the family by the heirs to the founders with firms in which the management is passed on to outsiders. Family successions, that is, successions by the founder�s heirs, are further analyzed by assessing the impact of the sectoral intensity of competition o...

  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. 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...

  1. Offshoring to Promote the Internationalization of Family Firms

    Directory of Open Access Journals (Sweden)

    Fernando Merino

    2017-07-01

    Full Text Available This paper analyses the impact of sourcing abroad on exporting in the case of Spanish manufacturing firms that are family-owned. Sourcing abroad can be a channel that places the firm in a better position to export, not only because it increases the productivity of the firm, but also because it provides information, new managerial procedures or just the acceptance by the family owners of a more complex strategy. The empirical analysis presents the premium on the probability of being an exporter for those firms that offshore part of their production, and compares this with the results for non-family firms. The results show that there is a significant premium for SMEs on the probability of exporting, but not on the intensity of those exports, and that this occurs at the same levels in family and non-family firms.

  2. 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.

  3. 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 types...... of mobility interact is important for understanding earnings growth. Cross-firm moves at the non-executive level provide sizeable short-run earnings growth (similar to the effect of being promoted to an executive position). These gains, however, appear modest compared with the persistent impact on earnings...

  4. 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

  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 a...

  6. Alliance Performance of Dutch Biotech Firms

    NARCIS (Netherlands)

    Garbade, P.; Fortuin, F.T.J.M.; Omta, S.W.F.

    2011-01-01

    In the biotechnology sector small R&D intensive firms play a fundamental role to keep innovation rates high. With less bureaucratic burdens, low level of hierarchy and high internal flexibility they are able to move fast and to make most efficient use of unique competences. Still their shortage

  7. Board Effectiveness in Small Firms

    OpenAIRE

    Söderqvist, Anette; Wägar, Karolina

    2010-01-01

    Purpose: This study investigates boards of directors in small firms and explores the link between board effectiveness and the composition, roles and working styles of the boards. Design/methodology/approach: The study analyses data from a telephone survey of boards in 45 small firms. The survey included both the CEO and the chairperson of the board. Findings: The study identifies three groups of small firms: ‘paperboards’, ‘professional boards’, and ‘management lead’ boards. Results show that...

  8. Inside the Family Firm

    DEFF Research Database (Denmark)

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

    2005-01-01

    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......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...... 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...

  9. 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.

  10. 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...

  11. Scaling Behavior of Firm Growth

    Science.gov (United States)

    Stanley, Michael H. R.; Nunes Amaral, Luis A.; Buldyrev, Sergey V.; Havlin, Shlomo; Leschhorn, Heiko; Maass, Philipp; Salinger, Michael A.; Stanley, H. Eugene

    1996-03-01

    The theory of the firm is of considerable interest in economics. The standard microeconomic theory of the firm is largely a static model and has thus proved unsatisfactory for addressing inherently dynamic issues such as the growth of economies. In recent years, many have attempted to develop richer models that provide a more accurate representation of firm dynamics due to learning, innovative effort, and the development of organizational infrastructure. The validity of these new, inherently dynamic theories depends on their consistency with the statistical properties of firm growth, e.g. the relationship between growth rates and firm size. Using the Compustat database over the time period 1975-1991, we find: (i) the distribution of annual growth rates for firms with approximately the same sales displays an exponential form with the logarithm of growth rate, and (ii) the fluctuations in the growth rates --- measured by the width of this distribution --- scale as a power law with the firm sales. We place these findings of scaling behavior in the context of conventional economics by considering firm growth dynamics with temporal correlations and also, by considering a hierarchical organization of the departments of a firm.

  12. A Database of EPO-Patenting Firms in Denmark

    DEFF Research Database (Denmark)

    Nielsen, Anders Østergaard

    1998-01-01

    of the existing patent stock issued to firms with domicile in Denmark. Sections four and five report the basic characteristics of the EPO-patent sample and the procedures for linking the patent statistics to accounting data at the firm level, and finally they present the basic properties of the resulting database...

  13. Balancing organizational and professional commitments in Professional Service Firm

    DEFF Research Database (Denmark)

    Jørgensen, Frances; Becker, Karen

    2015-01-01

    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...

  14. 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

  15. Patenting activities and firm performance : Does firm size matter?

    NARCIS (Netherlands)

    Andries, P.; Faems, D.L.M.

    2013-01-01

    Whereas prior research has provided valuable insights into the willingness of small and medium-sized enterprises (SMEs) and large firms to engage in patenting, a comparison of the performance implications of patenting activities across small and large firms is still lacking. This gap is important

  16. 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.

  17. 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.

  18. Financial sector development & firm growth in BRICS countries

    Directory of Open Access Journals (Sweden)

    Shame Mugova

    2017-11-01

    Full Text Available The development of an economy’s financial sector facilitates improved access to capital. This study focuses on firm growth in terms of how much assets it controls and BRICS is chosen as the empirical medium of investigation. The impact financial sector development on firm growth amongst 3353 listed firms in BRICS countries is investigated using a GMM estimation technique. Firm’s investment in assets increases the organizational resources and productive capacity needed to achieve growth in the market. Financial sector development improves access to capital and firms with higher access to external finance pursue growth opportunities using debt. Financial sector development helps firms to adjust their capital structures quickly thereby minimizing the costs of staying off target. The speed of adjustment of firms towards their target capital structure facilitates financing of firm growth. The study found that listed firms in Brazil, Russia India, China and South Africa have a target total liabilities-to-total assets ratio and financial sector development helps firms to partially adjust towards target levels and pursue growth opportunities

  19. 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...

  20. 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...

  1. Board leadership and strategy involvement in small firms : a team production approach

    OpenAIRE

    Machold, Silke; Huse, Morten; Minichilli, Alessandro; Nordqvist, Mattias

    2011-01-01

    Abstract Manuscript Type: Empirical Research Question/Issue: Boards? involvement in strategy is generally seen to be an indicator of board effectiveness but less is known about the relationship between board leadership and strategy involvement, especially in small firms. This study analyses board leadership from a team production perspective as an antecedent to board strategy involvement in small firms. Research Findings/Insights: Using survey data from 140 small firms in No...

  2. Digital entrepreneurship in a traditional production firm

    DEFF Research Database (Denmark)

    Hannibal, Martin; Rasmussen, Erik S.

    2017-01-01

    Through a longitudinal case study this paper explores the repercussions from introducing a mobile commerce platform as just another instrument in the marketing toolbox in a traditional sales-oriented firm. Findings suggest that the implementation of the M-platform in addition to its intended...... purpose spawns a digital business model that allows the company to change its relations to distributors, retailers and customers enabling access to direct communication with end-users. However, the emerging new business model has the potential to change the organization entirely. This paper argues...... that although the emerging business model was indeed a success seen from a sales-, marketing-, innovative-, and relational perspective, it was perceived as a disaster from an organizational perspective. Consequently, top management abandoned the new platform. The paper highlights the importance...

  3. Whom do new firms hire?

    DEFF Research Database (Denmark)

    Dahl, Michael S.; Klepper, Steven

    2015-01-01

    Using the matched employer-employee data set for Denmark and information on the founders of new firms, we analyze the hiring choices of all new firms that entered from 2003 to 2010. We develop a theoretical model in which the quality of a firm’s employees determines its average cost, a firm’s pro...

  4. Quality control in audit firm

    OpenAIRE

    Dostálová, Milena

    2008-01-01

    Thesis deals with the quality control of audit firms in accordance with international regulations. Defining the requirements for quality based on the Code of Ethics and the International quality standard ISQC1. Part of this work is the practical demonstration of ISQC1 in the smaller audit firm. For comparison, there is a description of quality control in the U.S.

  5. 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

  6. Do some Firms Persistently Outperform?

    NARCIS (Netherlands)

    Capasso, M.|info:eu-repo/dai/nl/314016627; Cefis, E.|info:eu-repo/dai/nl/274516233; Frenken, K.|info:eu-repo/dai/nl/207145253

    2009-01-01

    This study analyses persistence in growth rates of the entire population of Dutch manufacturing firms. Previous literature on firm growth rates shows that extreme growth events are likely to be negatively correlated over time. A rebound effect following an extreme growth event questions the

  7. Do some firms persistently outperform?

    NARCIS (Netherlands)

    Capasso, M.; Cefis, E.; Frenken, K.

    2009-01-01

    This study analyses persistence in growth rates of the entire population of Dutch manufacturing firms. Previous literature on firm growth rates shows that extreme growth events are likely to be negatively correlated over time. A rebound effect following an extreme growth event questions the

  8. Social security and firm performance

    DEFF Research Database (Denmark)

    Lee, Sangheon; Torm, Nina

    2017-01-01

    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...

  9. 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

  10. 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

  11. Relationship Lending and Firm Innovativeness

    NARCIS (Netherlands)

    Giannetti, C.

    2009-01-01

    This study investigates the effects of relationship lending on firm innovativeness using a panel of Italian manufacturing firms. In order to disentangle the impact of bank ties on the discovery phase from that in the introduction phase of new technologies, the analysis proceeds in two steps,

  12. 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.

  13. 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.

  14. PRODUCTIVITY GROWTH AND COMPETITION IN TUNISIAN MANUFACTURING FIRMS

    OpenAIRE

    Fethi AMRI; Rim MOUELHI

    2013-01-01

    This paper aims at measuring the impact of competition on productivity growth of the Tunisian manufacturing sector at the firm level. To investi-gate the impact of competition on productivity we use two procedures. The first one is a two-step procedure; the second one is a one step procedure. We test the robustness of our results to different methodology and to different measures of competition both at the firm level and at the industry level. We use firm data over the period 1997-2002 from T...

  15. 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…

  16. 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

  17. 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

  18. 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

    2012-08-01

    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.

  19. Fieldwork Educators' Perspectives: Professional Behavior Attributes of Level II Fieldwork Students

    Directory of Open Access Journals (Sweden)

    Marcie K. Campbell

    2015-10-01

    Full Text Available A review of the literature revealed a lack of consistent expectations for professional behaviors required of level II fieldwork students. This study sought to obtain a consensus of perspectives of level II fieldwork educators by asking, “What are the essential professional behavior attributes for level II fieldwork students?” Delphi methodology was used to collect data in two rounds of surveys. In the first, 49 fieldwork educators listed professional behavior attributes they believed to be important for fieldwork students. The data was synthesized into themes for distribution in the second survey, which were identified as essential, non-essential, or site-specific by 53 participants. The 218 different professional behavior attributes provided by Survey 1 respondents were categorized into 22 attribute themes. In Survey 2, 20 of the 22 attribute themes reached a consensus level of at least 75% and five reached 100% agreement. These results show a current perspective of what fieldwork educators value in level II fieldwork students and may be informative to occupational therapy faculty, students, and fieldwork educators.

  20. An emergence perspective on entrepreneurship: processes, structure and methodology

    OpenAIRE

    Fuller, Ted; Warren, Lorraine; Welter, Friederike

    2008-01-01

    This paper explores entrepreneurship from the perspective of emergence, drawing on literature in complexity theory, social theory and entrepreneurship. Entrepreneurship is conceptualised as the production of emergence, or emergent properties, via a simple model of initial conditions, processes of emergence that produces emergent properties at multiple levels (new phenomena such as products, services, firms, networks, patterns of behaviour, identities). Conceptualisation through em...

  1. Differences in export behavior of services and manufacturing firms in Slovenia

    Directory of Open Access Journals (Sweden)

    Tanja Grublješič

    2011-12-01

    Full Text Available

    We provide new comprehensive evidence on similarities and differences in export Behavior of Slovenian manufacturing and services firms by using detailed firm-level panel data for Slovenia. Main findings show that export Behavior in these two types of firms is similar and in line with the big picture that is by now familiar from the literature. Slovenian exporting services firms are more productive than non-exporting firms when observed and unobserved heterogeneity are controlled for. Export premia of services firms is even larger than for exporting manufacturing firms. Similarly, pre-entry premia over non-exporters is even larger than for manufacturing firms. We find some evidence of significant learning-by-exporting effects for services firms, but only when using the Levinsohn and Petrin measure of total factor productivity.

  2. 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

    , cultural capital accumulation entails such things as building visible buildings, winning design competitions, or obtaining important tenders, whereas social capital is accumulated through the recognition by other construction industry actors that one is a member of their circles. The cases presented......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...

  3. 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.

  4. Firm Sustainability Performance Index Modeling

    Directory of Open Access Journals (Sweden)

    Che Wan Jasimah Bt Wan Mohamed Radzi

    2015-12-01

    Full Text Available The main objective of this paper is to bring a model for firm sustainability performance index by applying both classical and Bayesian structural equation modeling (parametric and semi-parametric modeling. Both techniques are considered to the research data collected based on a survey directed to the China, Taiwan, and Malaysia food manufacturing industry. For estimating firm sustainability performance index we consider three main indicators include knowledge management, organizational learning, and business strategy. Based on the both Bayesian and classical methodology, we confirmed that knowledge management and business strategy have significant impact on firm sustainability performance index.

  5. 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...

  6. 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.

  7. Upgradation of Bangladeshi Apparel firms in the Global Value Chain

    DEFF Research Database (Denmark)

    Islam, Md.Tarikul; Bakhtiar Rana, Mohammad

    -design-manufacturer) and OBM (own-brand-manufacturer) stage in the global value chain. This is a sign to make a move from static efficiency to dynamic efficiency that ensures downstream upgradation. Using case study method with ten firms from both TNCs and the supplier-firms, the study explores four fundamental factors...... such as a) national level infrastructure and institutional support, b) firm level infrastructure and resources (tangible), c) visionary leadership, and d) managerial & technical efficiency that lead such upgradation in the value chain process. The study further argues that close relationship between TNCs...

  8. 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.

  9. 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

  10. 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

  11. Markets for Technology and the Importance of Firm-specific Search for Innovation Performance

    DEFF Research Database (Denmark)

    Grimpe, Christoph; Sofka, Wolfgang

    Firms rely increasingly on external knowledge, e.g. from universities, to improve their innovation performance. Existing research models the acquisition of knowledge either as a firm-specific search or a purchase on markets for technology. The former implies that a firm chooses and develops...... relationships with knowledge sources while the latter suggests a transaction governed by markets. We argue that both mechanisms increase a firm?s innovation performance but that they are interrelated. While on the firm level firm-specific search and acquisitions on markets for technology complement each other......, the costs of firm-specific search are only justified in underdeveloped markets. Otherwise, market transactions provide higher efficiency and flexibility. This negative cross-level interaction effect is stronger the more knowledge in an industry is covered by markets for technology. We test and support...

  12. [Design and validation of a questionnaire to measure continuity between care levels from the user's perspective].

    Science.gov (United States)

    Letelier, María José; Aller, Marta Beatriz; Henao, Diana; Sánchez-Pérez, Inma; Vargas Lorenzo, Ingrid; Coderch de Lassaletta, Jordi; Ramon Llopart, Josep; Ferran, Manel; Colomés, Lluís; Vázquez Navarrete, María Luisa

    2010-01-01

    To design and validate an instrument that measures continuity between levels of care from the user's perspective to be applied in any healthcare system providing a continuum of care. 1) A questionnaire for the measurement of continuity of care was designed, based on a literature review, and 2) the questionnaire was validated using an expert group, two pretests and a pilot test to a sample of 200 healthcare users. We assessed the questionnaire's comprehensibility, content validity and interviewer burden, as well as the reliability and construct validity of the scale. The instrument encompasses three types of continuity (management, information and relational) and is divided in two complementary parts. The first part addresses the patients' care pathways and the continuity of care for a particular episode that occurred in the last 3 months. The second part measures patients' perception of the continuity between levels of care. The experts agreed that all dimensions of continuity were represented and the interviewees found the questionnaire easy to understand. The mean time required to apply the instrument was 33.9 min. Cronbach's alpha was acceptable (>0.7) in all subscales except one, which was then removed. The multiple correspondence analyses showed associations among theoretically related items. The questionnaire (CCAENA) seems to be an useful, valid and reliable instrument to assess comprehensively continuity between levels of care from the user's perspective. Further information about the questionnaire's psychometric properties will be obtained by applying it to a larger population. Copyright © 2009 SESPAS. Published by Elsevier Espana. All rights reserved.

  13. Four Essays on Technology Licensing and Firm Innovation

    DEFF Research Database (Denmark)

    Moreira, Solon

    of this dissertation is to investigate the relationship between technology licensing and firm innovation, also examining how the characteristics of the acquiring firm and the use of specific contractual clauses affect this main relationship. The papers in this dissertation build on a different set of theoretical...... perspectives connected to the licensing literature. The dissertation consists of a general introduction, four papers, and a conclusion. Although all the papers build on the same main dataset related to licensing contracts in the global pharmaceutical industry, supplementary information from different data...

  14. 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....

  15. 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...

  16. 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...

  17. Experiences of Emerging Economy Firms

    DEFF Research Database (Denmark)

    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...... and experience the impact of home institutions and government policies. This ground breaking and illuminating title presents issues of theoretical and practical significance, thus challenging existing paradigms of firm internationalization....

  18. The Survival of Tuscan Firms

    OpenAIRE

    Filippo Randelli; Giorgio Ricchiuti

    2015-01-01

    In this paper we analyze the survival probability of firms in Tuscany (Italy) in the first decade of the $21^{st}$ century. Using the Official Register of Firms, held by Unioncamere Toscany, we build a panel for the period 1998-2010. Taking into account both individual and context variables, we find that a higher institutional complexity and a lower population density have a positive and significant effect on probability to survive. Moreover, both MAR and Jacob externalities have a nonlinear ...

  19. 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

  20. Aggregate fluctuations and the cross-sectional dynamics of firm growth

    DEFF Research Database (Denmark)

    Holly, Sean; Petrella, Ivan; Santoro, Emiliano

    2013-01-01

    The paper explores time variation in the distribution of firm level growth of total sales. Three novel results are reported. First, firms on the left-hand side of the distribution, i.e. firms that are growing more slowly or declining, are typically more responsive to aggregate shocks than those...

  1. 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.

  2. Trade protection and productivity differentials between multinationals and local firms in Vietnamese manufacturing

    OpenAIRE

    Truong Thi Ngoc, Thuyen; Juthathip, Jongwanich; Eric D., Ramstetter

    2017-01-01

    This paper investigates the how effective protection and firm ownership affected firm productivity in Vietnam during 2005-2010. In labour-intensive industries and industries with intermediate labour intensity, the level of effective protection in an industry had a significantly negative effect on firm productivity. Multinational enterprise (MNE) joint ventures (JVs) and state-owned enterprises (SOEs) had consistently higher productivity than private firms, with productivity usually being high...

  3. Productivity and the Product Scope of Multi-product Firms: A Test of Feenstra-Ma

    OpenAIRE

    Horst Raff; Joachim Wagner

    2012-01-01

    Feenstra and Ma (2008) develop a monopolistic competition model where firms choose their optimal product scope by balancing the profits from a new variety against the costs of 'cannibalizing' sales of existing varieties. While more productive firms always have a higher market share, there is no monotonic relationship between firms' productivity level and their choices of product scope. In the model having a higher market share means that firms are hurt more by the 'cannibalization effect'. Th...

  4. Product differentiation and firm size distribution : an application to carbonated soft drinks

    OpenAIRE

    Patrick P. Walsh; Ciara Whelan

    2001-01-01

    Using brand level retail data, the firm size distribution in Carbonated Soft Drinks is shown to be an outcome of the degree to which firms have placed brands effectively (store coverage) across vertical (flavour, packaging, diet attributes) segments of the market. Regularity in the firm size distribution is not disturbed by the nature of short-run brand competition (turbulence in brand market shares) within segments. Remarkably, product differentiation resulting from firms acquiring var...

  5. The Board's Demography-Firm Performance Relationship Revisited: A Bayesian Approach

    OpenAIRE

    Huybrechts, Jolien; Voordeckers, Wim; D'Espallier, Bert; Lybaert, Nadine; Van Gils, Anita

    2016-01-01

    Building on behavioral theory, we argue that the effect of board demography on the performance of small and medium-sized family firms differs significantly at the individual firm level and that the degree by which board task performance meets board task needs explains this effect. Using a Bayesian estimation method, we obtain firm specific estimates of the effect of board demography on firm performance. Analysis of these estimates indicates that the size of the gap between board task needs an...

  6. The dynamic nature of depression : a new micro-level perspective of mental disorder that meets current challenges

    NARCIS (Netherlands)

    Wichers, M.

    The examination of moment-to-moment, 'micro-level' patterns of experience and behaviour using experience sampling methodology has contributed to our understanding of the 'macro-level' development of full-blown symptoms and disorders. This paper argues that the micro-level perspective can be used to

  7. Perspectives

    Indian Academy of Sciences (India)

    Unknown

    Developmental mechanisms: putting genes in their place. STUART A NEWMAN. Department of Cell Biology ... effects, multifactoriality and func- tional redundancy of gene action in the determination of. Perspectives .... The vertebrate seg- mental plate becomes sequentially partitioned into paired somites by a process that ...

  8. Financial Constraints and Exports: Evidence from Portuguese Manufacturing Firms

    Directory of Open Access Journals (Sweden)

    Armando Silva

    2011-12-01

    Full Text Available This paper analyses the links between financial constraints and firm export behaviour, at the firm level, by using data on Portuguese manufacturing enterprises. Previous empirical literature has not yet reached a consensus on these subjects and there is a great heterogeneity in measuring financial constraints. In line with a very recent trend, we approximate credit constraints by using a financial score built on eight variables. In order to assess the effects of exports on the financial status of firms we apply, for the first time to these types of studies, a propensity score matching with difference in differences. We find that new exporters show significant improvements in their financial situation.

  9. Explaining firms export behaviour: the role of RD and spillovers

    OpenAIRE

    Barrios Cobos, Salvador; Görg, Holger; Strobl, Eric

    2001-01-01

    We examine the importance of a firm’s own R&D activity and intra-sectoral spillovers on the decision to export and the export intensity using firm level panel data for Spain for the period 1990 to 1998. Our results are in line with preceding findings on the role played by firmspecific variables such as age, firm size, productivity and workers’ skills. In addition, we show that export and R&D spillovers, either from MNEs or domestic firms in the sector, have a different impact on Spanish and f...

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

    DEFF Research Database (Denmark)

    Frederiksen, Anders; Halliday, Timothy; Koch, Alexander

    While it is well established that both promotions within firms and mobility across firms lead to significant earnings progression, little is known about the interaction between these types of mobility. Exploiting a large Danish panel data set and controlling for unobserved individual heterogeneity......, 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...

  11. 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.

  12. 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.

  13. 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...

  14. Power Laws in Firm Productivity

    Science.gov (United States)

    Mizuno, T.; Ishikawa, A.; Fujimoto, S.; Watanabe, T.

    We estimate firm productivity for about 3.2 million firms from30 countries. We find that the distribution of firm productivity in each country, which is measured by total factor productivity (TFP), has a power law upper tail. However, the power law exponent of a TFP distribution in a country tends to be greater than that of a sales distribution in that country, indicating that the upper tail of a TFP distribution is less heavy compared to that of a sales distribution. We also find that the power law exponent of a TFP distribution tends to be greater than the power law exponents associated with the number of workers or tangible fixed assets. Given the idea that the sales of a firm is determined by the amount of various inputs employed by the firm (i.e., ``production function'' in the terminology of economics), these results suggest that the heavy tail of a sales distribution in a country comes not from the tail of a TFP distribution, but from the tail of the distribution of the number of workers or tangible fixed assets.

  15. Impact of export destinations on firm performance

    OpenAIRE

    Cebeci, Tolga

    2014-01-01

    This paper evaluates the role of export destinations on productivity, employment, and wages of Turkish firms by comparing the performance of firms that export to low-income destinations and high-income destinations with firms that do not export. A combination of propensity score matching and difference-in-differences methods are employed on a rich set of firm observables, including sector,...

  16. 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.

  17. 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.

  18. 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

  19. Knowledge management in the firm

    DEFF Research Database (Denmark)

    Rasmussen, Palle; Nielsen, Peter

    2011-01-01

    , transforming and utilizing various kinds of knowledge as a firm-specific asset is a very important element of firm competitiveness and innovative performance. In managing knowledge learning and innovation learning approaches are central. The paper identifies various approaches to learning and strategies...... of the importance of deliberately combining various approaches to innovation and learning in order to include a maximum of actors as sources in building knowledge assets and strategies. Research limitations/implications – Most of the empirical examples are from private sector enterprises, even though......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...

  20. Efficiency wages and union-firm bargaining with private information

    OpenAIRE

    Mauleon, Ana; Vannetelbosch, Vincent

    2003-01-01

    We consider efficiency wage effects in a union-firm bargaining model with private information. We show that an increase in the efficiency wage effects does not necessarily increase the wage level at equilibrium, even when the wage bargaining with private information is close to one with complete information. However, if it is commonly known that the firm is stronger than the union and the demand is sufficiently elastic, then an increase in the efficiency wage effects increases for sure the wa...

  1. 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...... and digitalization in these activities. This being a conceptual model, we also put forward further steps towards validation....

  2. 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,

  3. 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

  4. 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.

  5. 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.

  6. 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

  7. A demographic approach to firm dynamics: formation of new firms and survival of old ones

    NARCIS (Netherlands)

    Nijkamp, P.; Geenhuizen, van M.

    1995-01-01

    This paper introduces a new approach to firm dynamics, named demography of firms. It is the study of demographic events in a population of firms. Thepaper argues that withina demographic approach, attention should be paid to a broad range of firm dynamics, including both new firm formation and

  8. 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 ...

  9. Four Essays on Technology Licensing and Firm Innovation

    DEFF Research Database (Denmark)

    Moreira, Solon

    much to be investigated. Furthermore, with few exceptions, neither organizational nor contractual characteristics related to the licensing deals have received enough attention as determinants of the capacity of the acquiring firm to benefit from licensing in a new technology. The purpose...... perspectives connected to the licensing literature. The dissertation consists of a general introduction, four papers, and a conclusion. Although all the papers build on the same main dataset related to licensing contracts in the global pharmaceutical industry, supplementary information from different data...

  10. 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...

  11. 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.

  12. Implementing Firm Dynamic Capabilities Through the Concept Design Process

    DEFF Research Database (Denmark)

    Nedergaard, Nicky; Jones, Richard

    2011-01-01

    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...

  13. 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...... 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...

  14. The firm-nature relationship

    DEFF Research Database (Denmark)

    Ulhøi, John Parm; Madsen, Henning

    2005-01-01

    Taking the stakeholder concept of the firm as a starting point, the paper presents data and analyses from a longitudinal study initiated in 1995 and repeated every four years. In discussing state-of-the-art insights and experiences, the paper identifies challenges which, if adequately addressed, ...

  15. 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

  16. 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

  17. 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.

  18. Worker and Firm Heterogeneity in Wage Growth: An AKM approach

    DEFF Research Database (Denmark)

    Sørensen, Kenneth Lykke; Vejlin, Rune Majlund

    This paper estimates a wage growth equation containing human capital variables known from the traditional Mincerian wage equation with year, worker and firm fixed effects included as well. The paper thus contributes further to the large empirical literature on unobserved heterogeneity following...... the work of Abowd, Kramarz, and Margolis (1999). Our main contribution is to extend the analysis from wage levels to wage growth. The specification enables us to estimate the individual specific and firm specific fixed effects and their degree of explanation on wage growth. The analysis is conducted using...... Danish longitudinal matched employer-employee data from 1980 to 2006. We find that the worker fixed effect dominates both the firm fixed effect and the effect of the observed covariates. Worker effects are estimated to explain seven to twelve per cent of the variance in wage growth while firm effects...

  19. Adapting cities to sea level rise: A perspective from Chinese deltas

    Directory of Open Access Journals (Sweden)

    He-Qin Cheng

    2017-06-01

    Full Text Available In recent years, intensifying waterlogging, salt water intrusion, wetland loss, and ecosystem degradation in Chinese delta cities and adjacent regions have generated the pressing need to create an urban form that is suited to both current and future climates incorporating sea level rise. However, adaptation planning uptake is slow. This is particularly unfortunate because patterns of urban form interact with mean sea level rise (MSLR in ways that reduce or intensify its impact. There are currently two main barriers that are significant in arresting the implementation of adaptation planning with reference to the MSLR projections composed of geomorphologic MSLR projections and eustatic MSLR projections from global climate warming, and making a comprehensive risk assessment of MSLR projections. The present review shows recent progresses in mapping MSLR projections and their risk assessment approaches on Chinese delta cities, and then a perspective of adapting these cities to MSLR projections as following six aspects. 1 The geomorphologic MSLR projections are contributed by the natural tectonic subsidence projections and the MSLR projections by anthropogenic geomorphologic change. The former needs to be updated in a global framework. The latter is accumulated by land subsidence from underground water depletion, water level fall caused by the erosion of riverbeds from a sediment supply decline attributed to the construction of watershed dams, artificial sand excavation, water level raise by engineering projects including land reclamation, deep waterway regulation, and fresh water reservoirs. 2 Controlling MSLR projections by anthropogenic geomorphologic changes. 3 The IPCC AR5 RCPs MSLRs scenarios are expected to be projected to the local eustatic MSLR projections on the Chinese deltas. 4 The MSLR projections need to be matched to a local elevation datum. 5 Modeling approaches of regional river-sea numerical with semi-analytical hydrodynamics

  20. Job Creation by Firms in Denmark

    DEFF Research Database (Denmark)

    Ibsen, Rikke Falkner; Westergård-Nielsen, Niels

    time. A complication here is that firms switch ID over time because of change of ownership, mergers and divisions. Data must be corrected so that these administrative issues will not affect the survival of firms. The data are used in a way where we can cover firm birth and firm death, spin...... growth. For the U.S. it has been found that the growth in jobs comes from small businesses. A closer analysis though shows that the main factor here is the firm age. Thus, it is found that young firms net create the most jobs, but they are also responsible for the most job destructions....

  1. 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....

  2. 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.

  3. 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)....

  4. 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...... and arise from complex interactions between genetic makeup and environment, type 2 diabetes mellitus (T2DM) is a collection of sub-phenotypes resulting in high fasting glucose. The underlying gene-environment interactions that produce these classes of T2DM are imperfectly characterized. Based on assessments...... of the complexity of T2DM, we propose a systems biology approach to advance the understanding of origin, onset, development, prevention, and treatment of this complex disease. This systems-based strategy is based on new study design principles and the integrated application of omics technologies: we pursue...

  5. 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.

  6. 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...... of FDI on the survival of domestic private firms in Viet Nam. We estimate the impact of both horizontal and vertical FDI and explore how the presence of state-owned enterprises (SOEs) influences the exit hazard for private firms. The results suggest that horizontal and upstream FDI raise the exit hazard...... 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...

  7. 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.

  8. 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

    trade transactions by product. We use our detailed product level information to compute a firm level deflator and avoid the criticism of biased estimates due to the use of industry level deflator. We find that both importing and exporting behaviours are strongly associated with productivity, but firms...

  9. 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.

  10. Multi-Level Discourse Analysis in a Physics Teaching Methods Course from the Psychological Perspective of Activity Theory

    Science.gov (United States)

    Vieira, Rodrigo Drumond; Kelly, Gregory J.

    2014-01-01

    In this paper, we present and apply a multi-level method for discourse analysis in science classrooms. This method is based on the structure of human activity (activity, actions, and operations) and it was applied to study a pre-service physics teacher methods course. We argue that such an approach, based on a cultural psychological perspective,…

  11. Canada's experience in applying C&I to measure progress towards SFM - perspectives from the National, Regional and local levels

    Science.gov (United States)

    John E. Hall; S. R. J. Bridge; Brian D. Haddon

    2006-01-01

    This paper will provide perspectives of Canada’s experiences in applying Criteria and Indicators (C&I) to measure progress towards Sustainable Forest Management (SFM) at the National, Regional (Provincial) and local levels. SFM is rooted in Bruntland’s concept of Sustainable Development and is about providing for present forest-based needs without compromising...

  12. Trigger-object Level Analysis with the ATLAS detector at the Large Hadron Collider: summary and perspectives

    CERN Document Server

    The ATLAS collaboration

    2017-01-01

    This document summarizes the motivations, challenges and perspectives on the Trigger-object Level Analysis (TLA) in ATLAS, focusing on the case where the objects are hadronic jets. It is intended as a complement to the HEP Software Foundation Community Whitepaper on trigger and reconstruction.

  13. 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...... 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...... that the simple inclusion of exogenous economy wide technological progress into the standard Melitz (2003) model generates a tractable dynamic framework that generates endogenous exit decisions of firms in line with the stylized facts. Furthermore, we derive the effects of faster technological progress and trade...

  14. How do Economic Crises Impact Firm Boundaries?

    DEFF Research Database (Denmark)

    Foss, Kirsten

    2010-01-01

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

  15. 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.

  16. 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 th...... of the entrepreneur provides important clues to how we can understand entrepreneurship.......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...

  17. Interconnected Levels of Multi-Stage Marketing

    DEFF Research Database (Denmark)

    Vedel, Mette; Geersbro, Jens; Ritter, Thomas

    2012-01-01

    must not only decide in general on the merits of multi-stage marketing for their firm, but must also decide on which level they will engage in multi-stage marketing. The triadic perspective enables a rich and multi-dimensional understanding of how different business relationships influence each other......Multi-stage marketing gains increasing attention as knowledge of and influence on the customer's customer become more critical for the firm's success. Despite this increasing managerial relevance, systematic approaches for analyzing multi-stage marketing are still missing. This paper conceptualizes...... different levels of multi-stage marketing and illustrates these stages with a case study. In addition, a triadic perspective is introduced as an analytical tool for multi-stage marketing research. The results from the case study indicate that multi-stage marketing exists on different levels. Thus, managers...

  18. The learner's perspective in GP teaching practices with multi-level learners: a qualitative study.

    Science.gov (United States)

    Thomson, Jennifer S; Anderson, Katrina; Haesler, Emily; Barnard, Amanda; Glasgow, Nicholas

    2014-03-19

    Medical students, junior hospital doctors on rotation and general practice (GP) registrars are undertaking their training in clinical general practices in increasing numbers in Australia. Some practices have four levels of learner. This study aimed to explore how multi-level teaching (also called vertical integration of GP education and training) is occurring in clinical general practice and the impact of such teaching on the learner. A qualitative research methodology was used with face-to-face, semi-structured interviews of medical students, junior hospital doctors, GP registrars and GP teachers in eight training practices in the region that taught all levels of learners. Interviews were audio-recorded and transcribed. Qualitative analysis was conducted using thematic analysis techniques aided by the use of the software package N-Vivo 9. Primary themes were identified and categorised by the co-investigators. 52 interviews were completed and analysed. Themes were identified relating to both the practice learning environment and teaching methods used.A practice environment where there is a strong teaching culture, enjoyment of learning, and flexible learning methods, as well as learning spaces and organised teaching arrangements, all contribute to positive learning from a learners' perspective.Learners identified a number of innovative teaching methods and viewed them as positive. These included multi-level learner group tutorials in the practice, being taught by a team of teachers, including GP registrars and other health professionals, and access to a supernumerary GP supervisor (also termed "GP consultant teacher"). Other teaching methods that were viewed positively were parallel consulting, informal learning and rural hospital context integrated learning. Vertical integration of GP education and training generally impacted positively on all levels of learner. This research has provided further evidence about the learning culture, structures and teaching

  19. Unions, training and firm performance

    OpenAIRE

    Addison, John T.; Belfield, Clive R.

    2007-01-01

    The present paper uses a combination of workplace and linked employee-workplace data from the 1998 Workplace Employee Relations Survey and the 2004 Workplace Employment Relations Survey to examine the impact of unions on training incidence, training intensity/coverage, and training duration. It also examines the impact of unions and training on earnings and a measure of establishment labour productivity. In addition, the implications of training for the firm's bottom line are evaluated. Union...

  20. Firm Decisions: Determinants of Investments

    OpenAIRE

    Ionescu Alexandra

    2011-01-01

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

  1. Cost Stickiness in Brazilian Firms

    OpenAIRE

    Otavio Ribeiro De Medeiros; Patricia de Souza Costa

    2004-01-01

    Conventional cost accounting assumes that the relation between cost and volume is symmetric for volume increases and decreases. We test an alternative model where costs increase more when activity rises than they decrease when activity falls by an equivalent amount. We find, for a sample of Brazilian firms that selling, general, and administrative costs increase 0.59% per 1% increase in sales but decrease only 0.32% per 1% decrease in sales. We test several hypotheses about the properties of ...

  2. 10 CFR 603.1230 - Commercial firm.

    Science.gov (United States)

    2010-01-01

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

  3. Architectural firms: workforce, business strategy and performance

    OpenAIRE

    Oluwatayo, Adedapo Adewunmi; Amole, Dolapo

    2011-01-01

    The intent of this research was to investigate the relationship between the workforce, business strategy and performance of architectural firms. Data was collected from 92 firms randomly selected from the cities where architectural firms were most concentrated in Nigeria using questionnaires. Hierarchical regression analysis was carried out to investigate the direct and indirect impacts of the workforce of architectural firms on their performance. The findings confirm the significant positive...

  4. The 'Shadow of Succession' in Family Firms

    OpenAIRE

    Diwisch, Sandra Denise; Voithofer, Peter; Weiss, Christoph

    2005-01-01

    The paper analyses the relationship between succession and firm performance. Using a unique panel data set on a sample of roughly 4,000 Austrian family firms we examine empirically the impact of past succession as well as future succession plans on employment growth and investment behaviour. Analysing succession plans, we do not find a 'shadow of succession' effect. No significant difference in employment growth and investment behaviour is found between firms that plan to transfer the firm in...

  5. Firm Heterogeneity, Credit Constraints, and Endogenous Growth

    OpenAIRE

    Torben Klarl; Alfred Maussner

    2010-01-01

    This paper is concerned with the role of firm heterogeneity under credit constraints for economic growth. We focus on firm size, innovativeness and credit constraints in a semi-endogenous growth model reflecting recent empirical findings on firm heterogeneity. It allows for an explicit solution for transitional growth and balanced growth path productivity as well as the growth maximizing firm heterogeneity. This enables us to draw inference about the impact of key policy parameters of the mod...

  6. Does Labour Diversity affect Firm Productivity?

    DEFF Research Database (Denmark)

    Parrotta, Pierpaolo; Pozzoli, Dario; Pytlikova, Mariola

    Using a matched employer-employee dataset, we analyze how workforce diversity in cultural background, education and demographic characteristics affects productivity of firms in Denmark. Implementing a structural estimation of the firms' production function (Ackerberg et al., 2006) we find...... that labor diversity in education significantly enhances a firm's value added. Conversely, diversity in ethnicity and demographics induces negative effects on firm productivity. Hence, the negative effects, coming from communication and integration costs connected to a more culturally and demographically...

  7. 78 FR 70987 - Proxy Advisory Firm Roundtable

    Science.gov (United States)

    2013-11-27

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

  8. Reputational penalties to firms in antitrust investigations

    NARCIS (Netherlands)

    Broek, van den S.; Kemp, R.G.M.; Verschoor, W.F.C.; Vries, de A.

    2012-01-01

    We estimate the impact of legal penalties imposed on Dutch listed firms targeted by competition authorities from 1998 to 2008 on a firm's stock market value. On average, firms lose 2.3 percent of their market values when an antitrust investigation is uncovered. This corresponds to a total value loss

  9. FOOD ENTREPRENEUR SUSTAINABLE ORIENTATION AND FIRM PRACTICES

    OpenAIRE

    Mark A. Gagnon; Pamela A. Heinrichs

    2016-01-01

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

  10. The Dividend Policy of German Firms

    NARCIS (Netherlands)

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

    2008-01-01

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

  11. The Dividend Policy of German Firms

    NARCIS (Netherlands)

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

    2008-01-01

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

  12. Finding the "Right Staff" in Small Firms

    Science.gov (United States)

    Barrett, Rowena; Neeson, Robyn; Billington, Leo

    2007-01-01

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

  13. Related party transactions and firms financial performance ...

    African Journals Online (AJOL)

    The study investigated related party transactions and firm's financial performance using Secondary data obtained from Nigeria stock Exchange. We tried to determine whether RPT is used by firms to manipulate and bloat Return on Asset, Return on Equity and Earnings per share of manufacturing firms. RPT was subjected ...

  14. Uncertainty and growth of the firm

    NARCIS (Netherlands)

    Lensink, Robert; Steen, Paul van der; Sterken, Elmer

    2000-01-01

    Using data from a survey of 1097 Dutch firms we investigate the relation between growth of the firm and uncertainty. We focus on the impact of uncertainty on various types of investment, employment demand, and expected maturity of the firm. The special feature of the survey is that it includes data

  15. Employment Effects of Service Offshoring: Evidence from Matched Firms

    OpenAIRE

    Rosario Crinò

    2009-01-01

    This paper studies the effects of service offshoring on the level and skill composition of domestic employment, using a rich data set of Italian firms and propensity score matching techniques. The results show that service offshoring has no effect on the level of employment but changes its composition in favor of high skilled workers.

  16. TRANSFER OF MARKETING KNOWLEDGE IN THAI INTERNATIONAL JOINT VENTURE FIRMS

    Directory of Open Access Journals (Sweden)

    Osman Mohamad

    2010-07-01

    Full Text Available The focus of this study is the transfer of marketing knowledge within Thai joint venture firms. The perspectives of Thai managers were surveyed using a structured instrument. The analysis identifies seven dimensions of marketing management knowledge: promotion management, price management, logistics management, product innovation management, strategic marketing management, cross-cultural management, and target marketing management. The incidence of transfer is highest for activities in strategic marketing management, followed by price management. Transfer in product innovation management and target marketing management tends to vary with the age of the joint venture. Joint venture firms with foreign partners originating from Western, advanced, industrialised nations recorded the highest incidence of knowledge transfer occurring within product innovation management. This trend also holds true for the management of promotion activities. The incidence of transfer in target marketing management is lowest among firms with foreign partners from neighbouring nations. The incidence of knowledge transfer within product innovation and target marketing also tends to vary with the age of the joint venture. An analysis based on industry classification revealed that the transfer of knowledge regarding logistics management occurs most for firms in the manufacturing sector. In the service sector, the highest incidence of knowledge transfer within the areas of promotion management and target marketing management occurred in the agricultural sector.

  17. Relative performance analysis of IR FPA technologies from the perspective of system level performance

    Science.gov (United States)

    Haran, Terence L.; James, J. Christopher; Cincotta, Tomas E.

    2017-08-01

    The majority of high performance infrared systems today utilize FPAs composed of intrinsic direct bandgap semiconductor photon detectors such as MCT or InSb. Quantum well detector technologies such as QWIPs, QDIPs, and SLS photodetectors are potentially lower cost alternatives to MCT and InSb, but the relative performance of these technologies has not been sufficiently high to allow widespread adoption outside of a handful of applications. While detectors are often evaluated using figures of merit such as NETD or D∗, these metrics, which include many underlying aspects such as spectral quantum efficiency, dark current, well size, MTF, and array response uniformity, may be far removed from the performance metrics used to judge performance of a system in an operationally relevant scenario. True comparisons of performance for various detector technologies from the perspective of end-to-end system performance have rarely been conducted, especially considering the rapid progress of the newer quantum well technologies. System level models such as the US Army's Night Vision Integrated Performance Model (NV-IPM) can calculate image contrast and spatial frequency content using data from the target/background, intervening atmosphere, and system components. This paper includes results from a performance parameter sensitivity analysis using NV-IPM to determine the relative importance of various FPA performance parameters to the overall performance of a long range imaging system. Parameters included are: QE, dark current density, quantum well capacity, downstream readout noise, well fill, image frame rate, frame averaging, and residual fixed pattern noise. The state-of-the art for XBn, QWIP, and SLS detector technologies operating in the MWIR and LWIR bands will be surveyed to assess performance of quantum structures compared to MCT and InSb. The intent is to provide a comprehensive assessment of quantum detector performance and to identify areas where increased research

  18. The Impact of Firm-Provided Training on Production: Testing for Firm-Size Effects

    NARCIS (Netherlands)

    J.M.P. de Kok (Jan)

    2000-01-01

    textabstractThe returns to firm-provided training depend on many different factors. Firm size is an important indicator of various of these factors, but recent research tends to neglect it. In this study the returns to firm-provided training are estimated, taking account of three possible firm-size

  19. Corporate governance, analyst following and firm value

    OpenAIRE

    Mouselli, Sulaiman; Hussainey, Khaled

    2014-01-01

    Purpose – The purpose of this paper is to examine the impact of a firm’s corporate governance (CG) mechanisms on the number of financial analysts following UK firms. The potential effect of the number of analysts following firms in the UK on the association betweenCGmechanisms and firm value was also examined. Design/methodology/approach – Multiple regression models were used to examine the association between CG, analyst coverage and firm value for a large sample of UK firms listed in London...

  20. Performance of Patenting Firms in Danish Manufacturing

    DEFF Research Database (Denmark)

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

    2000-01-01

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

  1. Political uncertainty and firm risk in China

    Directory of Open Access Journals (Sweden)

    Danglun Luo

    2017-12-01

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

  2. Toward an Integrative Theory of the Firm

    DEFF Research Database (Denmark)

    Li, Xin

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

  3. Do Treasure Islands Create Firm Value?

    DEFF Research Database (Denmark)

    Lai, Tat-kei; Ng, Travis

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

  4. Producer firms, technology diffusion and spillovers to local suppliers : Examining the effects of Foreign Direct Investment and the technology gap

    NARCIS (Netherlands)

    Jordaan, J.A.

    2017-01-01

    In this paper, we conduct a detailed examination of the effects of Foreign Direct Investment (FDI) and the technology gap on local technology dissemination and spillovers. Using unique firm level data from surveys among FDI firms and domestic producer firms and a random sample of their suppliers in

  5. Markets for Technology and the Importance of Firm-Specific Search for Innovation Performance

    DEFF Research Database (Denmark)

    Sofka, Wolfgang; Grimpe, Christoph

    , the costs of firm-specific search are only justified in underdeveloped markets. Otherwise, market transactions provide higher efficiency and flexibility. This negative cross-level interaction effect is stronger the more knowledge in an industry is covered by markets for technology. We test and support......Firms rely increasingly on external knowledge, e.g. from universities, to improve their innovation performance. Existing research models the acquisition of knowledge either as a firm-specific search or a purchase on markets for technology. The former implies that a firm chooses and develops...... relationships with knowledge sources while the latter suggests a transaction governed by markets. We argue that both mechanisms increase a firm’s innovation performance but that they are interrelated. While on the firm level firm-specific search and acquisitions on markets for technology complement each other...

  6. Markets for Technology and the Importance of Firm-Specific Search for Innovation Performance

    DEFF Research Database (Denmark)

    Sofka, Wolfgang; Grimpe, Christoph

    Firms rely increasingly on external knowledge, e.g. from universities, to improve their innovation performance. Existing research models the acquisition of knowledge either as a firm-specific search or a purchase on markets for technology. The former implies that a firm chooses and develops...... relationships with knowledge sources while the latter suggests a transaction governed by markets. We argue that both mechanisms increase a firm’s innovation performance but that they are interrelated. While on the firm level firm-specific search and acquisitions on markets for technology complement each other......, the costs of firm-specific search are only justified in underdeveloped markets. Otherwise, market transactions provide higher efficiency and flexibility. This negative cross-level interaction effect is stronger the more knowledge in an industry is covered by markets for technology. We test and support...

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

    DEFF Research Database (Denmark)

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

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

  8. Immigrants’ initial firm allocation and earnings growth

    Directory of Open Access Journals (Sweden)

    Wen Ci

    2017-05-01

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

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

    OpenAIRE

    Pak-Wai Liu; Xiaokai Yang

    1999-01-01

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

  10. Determinants of CEO Turnover in Publicand Private Firms in Denmark - CEO and Firm Characteristics

    DEFF Research Database (Denmark)

    Sponholtz, Carina

    turnover. Finally, the inverse relationshipbetween firm performance and CEO turnover only exists in LLL firms(larger limited liability firms, both publicly and privately held), whereagency costs are assumed and found to be highest.In this study we are the first to draw on longitudinal matched employer...... only exists in LLL firms(larger limited liability firms, both publicly and privately held), whereagency costs are assumed and found to be highest....

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

    OpenAIRE

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

    2012-01-01

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

  12. Improving productivity and firm performance with enterprise resource planning

    Science.gov (United States)

    Beheshti, Hooshang M.; Beheshti, Cyrus M.

    2010-11-01

    Productivity is generally considered to be the efficient utilisation of organisational resources and is measured in terms of the efficiency of a worker, company or nation. Focusing on efficiency alone, however, can be harmful to the organisation's long-term success and competitiveness. The full benefits of productivity improvement measures are realised when productivity is examined from two perspectives: operational efficiency (output/input) of an individual worker or a business unit as well as performance (effectiveness) with regard to end user or customer satisfaction. Over the years, corporations have adopted new technology to integrate business activities in order to achieve both effectiveness and efficiency in their operations. In recent years, many firms have invested in enterprise resource planning (ERP) in order to integrate all business activities into a uniform system. The implementation of ERP enables the firm to reduce the transaction costs of the business and improve its productivity, customer satisfaction and profitability.

  13. The level of observing standard tracheostomy care and some barriers from perspective of nurses

    Directory of Open Access Journals (Sweden)

    Mosazade Sari Z

    2015-05-01

    Full Text Available Background & objective: Tracheostomy is one of the most common surgical procedures in intensive care unit. Although the implementation of standard care can lead to decrease the postoperative complications, but some factors causes the negative attitude in nurses and consequently lead to implementing the routine and non-standard care. The current study was conducted aimed to determine the level of observing standard tracheostomy care and some barriers from perspective of nurses.  Materials and Methods: In this descriptive-analytical study 42 nurses who were working in two selected hospitals in Tehran in 2013 were entered the study through census. Data were gathered through researcher made questionnaire for demographic data, observation checklist for standard tracheopstomy care and its barriers. The researcher observed 3 times concerning the how to care of tracheostomy by nurses and then nurses completed the demographic and barriers to standard care questionnaires. Data were analyzed by SPSS 21using one sample T-test, independent T-test, chi-square, ANOVA and Pearsons’ correlation coefficient.  Results: According to results, only 2 nurses (4.8 percent performed the standard tracheostomy care. The Most barriers affecting on the standard tracheostomy care were the administrative barriers (54.76 percent. Also, there was a moderate positive correlation between standard care with administrative barriers (r=0.46, p=0.002, personal barriers (r=0.38, p=0.012 and all of the barriers (r= 0.46, p=0.002. Conclusion: Most tracheostomy care are not according to standard protocols and most important barriers of its implementation are administrative barriers. With attention to the importance of this care, some necessary measures must be taken to resolve the barriers.

  14. The Moderating Effect of Environmental Turbulence in the Relationship between Entrepreneurial Management and Firm Performance

    OpenAIRE

    Pratono, Aluisius Hery; Mahmood, Rosli

    2014-01-01

    Contingency theory points out the adaptive management is crucial point to sustainable firm performance. This research aims to determine the relative importance of a set of variables comprising the four entrepreneurial management variables, i.e. strategic orientation, organization culture, organization structure, and reward system, and a set of environmental turbulence variables in predicting firm performance. This research uses firm-level data with observed population of this research is SMEs...

  15. Post-implementation of MFRS 8 “Operating Segment” among listed firms in Malaysia

    OpenAIRE

    Johari Jalila

    2017-01-01

    This study examined the level of disclosure among Malaysian listed firms with respect to segment reporting under new accounting standard MFRS 8 (IFRS 8). It also aimed to determine how these firms defined the chief operating decision maker (CODM) during the disclosure of segment information. Study results showed that the way firms disclosed segment information tended to vary between companies, since disclosure was dependent on company management purposes and business activities. The results a...

  16. Exchange Rate Exposure and Its Determinants: A Firm and Industry Analysis of the UK Companies

    OpenAIRE

    He, Jiao

    2010-01-01

    This study assesses whether the unexpected exchange rate movements volatilize the UK firms’ stock return based on the firm- and industry-level analysis, and examines whether the magnitude of the exchange rate exposure is determined by the firm-specific factors. Using a sample of 244 UK companies listed in the FTSE 350 during the test period between December 1999 and December 2009, the result documents that the exchange rate fluctuation does affect the firm value. Among the five introduced ex...

  17. Acquiring Knowledge Within and Across Firm Boundaries: Evidence from Clinical Development

    OpenAIRE

    Pierre Azoulay

    2003-01-01

    Considerable evidence suggests that information is acquired more easily within than across firm boundaries. I explore why this is observed in the setting of clinical development. Since the mid-1980s, pharmaceutical firms have partly contracted out the operational aspects of clinical trials to Contract Research Organizations (CROs). Using detailed project-level data for 53 firms, I document that even after controlling for a number of alternative explanations, knowledge-intensive projects are m...

  18. Environmental Protection of Foreign Firms in Germany: Does the country of origin matter?

    OpenAIRE

    John P. Weche Geluebcke; Isabella Wedl

    2013-01-01

    Only recently have the aspects of pollution and environmental protection entered into the empirical literature about international firm activities. The present paper is the first firm-level study on the link between foreign ownership and environmental protection in Germany. We find that, ceteris paribus, foreign owned firms in Germany are more likely to invest in environmental protection. They also invest on a larger scale in terms of add-on measures as well as integrated measures. These resu...

  19. Factors that Explain the Voluntary Disclosure of 100 Firms with More Negotiated Shares at BM&FBOVESPA

    Directory of Open Access Journals (Sweden)

    Maria Audenôra Rufino

    2014-12-01

    Full Text Available The disclosure of companies can take two perspectives, mandatory and voluntary disclosure. Normally, mandatory disclosure prints a standard disclosure, but when it comes to voluntary disclosure, this involves the endogenous nature of the company and, therefore, depends on the judgment of managers by disclosure or not determined item. Thus, this study examined the determinants of the level of voluntary disclosure of corporate information, and the basis for calculating the adaptation of the metric Murcia and Santos (2009. The information was obtained through the Standardized Financial Statements published on website the BM&FBOVESPA relating to period ended in 2012. Building upon the Theory of Voluntary Disclosure were constructed seven hypotheses were tested using the multiple linear regression model, with the variable to be explained the Voluntary Disclosure Index (IDV and the explanatory variables as Profitability (ROE, Sustainability (ISE , Size (TAM, Debt (END, Ownership Concentration (CON, Internationalization (INT and Regulated Firms (REG. The results show that profitability, firm size and sustainability are determinants of voluntary disclosure and are therefore positively significant in the estimated models. Consequently, it was concluded that four of the tested hypotheses have no empirical support, they are: debt, ownership concentration, internationalization and regulated firms.

  20. Multistakeholder Perspectives on the Transition to a Graduate-Level Athletic Training Educational Model.

    Science.gov (United States)

    Mazerolle, Stephanie M; Bowman, Thomas G; Pitney, William A

    2015-09-01

    The decision has been made to move away from the traditional bachelor's degree professional program to a master's degree professional program. Little is known about the perceptions about this transition from those involved with education. To examine multiple stakeholders' perspectives within athletic training education on the effect that a change to graduate-level education could have on the profession and the educational and professional development of the athletic trainer. Qualitative study. Web-based survey. A total of 18 athletic training students (6 men, 12 women; age = 24 ± 5 years), 17 athletic training faculty (6 men, 9 women, 2 unspecified; 7 program directors, 5 faculty members, 3 clinical coordinators, 2 unidentified; age = 45 ± 8 years), and 15 preceptors (7 men, 7 women, 1 unspecified; age = 34 ± 7 years) completed the study. Participants completed a structured Web-based questionnaire. Each cohort responded to questions matching their roles within an athletic training program. Data were analyzed following a general inductive process. Member checks, multiple-analyst triangulation, and peer review established credibility. Thirty-one (62%) participants supported the transition, 14 (28%) were opposed, and 5 (10%) were neutral or undecided. Advantages of and support for transitioning and disadvantages of and against transitioning emerged. The first higher-order theme, advantages, revealed 4 benefits: (1) alignment of athletic training with other health care professions, (2) advanced coursework and curriculum delivery, (3) improved student and professional retention, and (4) student maturity. The second higher-order theme, disadvantages, was defined by 3 factors: (1) limited time for autonomous practice, (2) financial concerns, and (3) lack of evidence for the transition. Athletic training students, faculty, and preceptors demonstrated moderate support for a transition to the graduate-level model. Factors supporting the move were comparable with those

  1. The effects of innovation on firm performance of supporting industries in Hanoi, Vietnam

    Directory of Open Access Journals (Sweden)

    Nham Tuan

    2016-04-01

    Full Text Available Purpose: Innovation, including product, process, marketing, and organizational innovation within a firm, is considered as one of essential component for surviving and growing. These innovation activities create value and competitive advantages for successful organizations; therefore, understanding the organization’s overall innovation is the first and foremost to understand the role of innovation on firm performance. The objective of this research is to explore two parts: the impacts of innovation on the different aspect of innovation performance, then their effects to firm performance (production, market, and financial performance. Design/methodology/approach: This study uses primary data from questionnaire survey. The questionnaire involves 4 parts including general information, innovation activities; innovative performance, and firm performance. This research focuses on firms in supporting industries of mechanics, electronics, motorbike and automobile. These firms are in a list of companies (known as The Excellent Vietnamese Companies in Northern and Central Vietnam established by JETRO and VCCI. There are 150 firms in this list. The questionnaire survey was administered to directors, CEO of those firms during April and May, 2014. Out of the 150 questionnaires sent out, 118 were valid, accounting for 78.7% of the true response rate. Analysis methodologies of reliability, factor analysis and regression are utilized in this paper. Findings: The result demonstrated there are positive effects of process, marketing, and organizational innovations on firm performance in supporting firms. More specifically, the higher the level of innovation activities is, the greater the innovative performance is, which means the larger level of Process, organization and marketing innovation activities are, the higher level of innovative performance are likely to be. Secondly, the higher level of Process, organization and marketing innovative performance, the

  2. The effects of innovation on firm performance of supporting industries in Hanoi, Vietnam

    Energy Technology Data Exchange (ETDEWEB)

    Tuan, N.; Nhan, N.; Giang, P.; Ngoc, N.

    2016-07-01

    Innovation, including product, process, marketing, and organizational innovation within a firm, is considered as one of essential component for surviving and growing. These innovation activities create value and competitive advantages for successful organizations; therefore, understanding the organization’s overall innovation is the first and foremost to understand the role of innovation on firm performance. The objective of this research is to explore two parts: the impacts of innovation on the different aspect of innovation performance, then their effects to firm performance (production, market, and financial performance). This study uses primary data from questionnaire survey. The questionnaire involves 4 parts including general information, innovation activities; innovative performance, and firm performance. This research focuses on firms in supporting industries of mechanics, electronics, motorbike and automobile. These firms are in a list of companies (known as The Excellent Vietnamese Companies in Northern and Central Vietnam) established by JETRO and VCCI. There are 150 firms in this list. The questionnaire survey was administered to directors, CEO of those firms during April and May, 2014. Out of the 150 questionnaires sent out, 118 were valid, accounting for 78.7% of the true response rate. Analysis methodologies of reliability, factor analysis and regression are utilized in this paper. The result demonstrated there are positive effects of process, marketing, and organizational innovations on firm performance in supporting firms. More specifically, the higher the level of innovation activities is, the greater the innovative performance is, which means the larger level of Process, organization and marketing innovation activities are, the higher level of innovative performance are likely to be. Secondly, the higher level of Process, organization and marketing innovative performance, the better level of firm performances is likely to be. To sum up, in

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

    Directory of Open Access Journals (Sweden)

    Magdalena Belniak

    2015-06-01

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

  4. Explaining the inefficiency of electrical distribution companies. Peruvian firms

    Energy Technology Data Exchange (ETDEWEB)

    Perez-Reyes, Raul [Organismo Supervisor de la Inversion en Energia y Mineria, OSINERGMIN (Peru); Tovar, Beatriz [Infrastructure and Transport Research Group (EIT), Department of Applied Economics, University of Palmas de Gran Canaria (Spain)

    2010-09-15

    This paper investigates the extent to which the structural reform of the Peruvian electricity market, implemented in the 1990s, has improved the efficiency of the distribution companies; and it evaluates the influence on efficiency of firm specific explanatory variables. To do this, we rely on data from 14 distribution companies between 1996 and 2006. The results indicate that the incentives generated by the reform process led to the firms becoming more efficient. Moreover, the time trend and private management of the distribution companies are variables that positively affect the levels of efficiency, whereas the lower network densities are then the greater the inefficiency. (author)

  5. Explaining the inefficiency of electrical distribution companies. Peruvian firms

    International Nuclear Information System (INIS)

    Perez-Reyes, Raul; Tovar, Beatriz

    2010-01-01

    This paper investigates the extent to which the structural reform of the Peruvian electricity market, implemented in the 1990s, has improved the efficiency of the distribution companies; and it evaluates the influence on efficiency of firm specific explanatory variables. To do this, we rely on data from 14 distribution companies between 1996 and 2006. The results indicate that the incentives generated by the reform process led to the firms becoming more efficient. Moreover, the time trend and private management of the distribution companies are variables that positively affect the levels of efficiency, whereas the lower network densities are then the greater the inefficiency. (author)

  6. How do Managerial Successions Shape Corporate Financial Policies in Family Firms?

    DEFF Research Database (Denmark)

    Amore, Mario Daniele; Minichilli, Alessandro; Corbetta, Guido

    2011-01-01

    Despite recent evidence on the importance of chief executive officer (CEO) successions in family firms, we still know little about the differences in corporate strategies entailed by family and professional managers around transition. We investigate the consequences of managerial successions...... financing: the increase in debt is particularly pronounced for young firms, firms with a high level of investment, and firms in which the controlling family maintains a dominant representation on the board of directors. Examining the importance of financial flexibility, we find that the increase in debt...

  7. Post-implementation of MFRS 8 “Operating Segment” among listed firms in Malaysia

    Directory of Open Access Journals (Sweden)

    Johari Jalila

    2017-01-01

    Full Text Available This study examined the level of disclosure among Malaysian listed firms with respect to segment reporting under new accounting standard MFRS 8 (IFRS 8. It also aimed to determine how these firms defined the chief operating decision maker (CODM during the disclosure of segment information. Study results showed that the way firms disclosed segment information tended to vary between companies, since disclosure was dependent on company management purposes and business activities. The results also showed that only a few Malaysian firms supply information about their CODM. In summary, this study provides a fairly up-to-date description of the status of segment disclosure post-implementation of MFRS 8.

  8. In the loop Large Hadron Collider project - UK engineering firms

    CERN Document Server

    Wilks, N

    2004-01-01

    This paper presents the latest measures being taken to boost the level of UK engineering firms' involvement in research at CERN (Centre for Nuclear Research), including its 27 km circular Large Hadron Collider (LHC) project. Virtually all of the components on this complex project have had to be custom-made, usually in the form of collaboration. It is part of these collaborations that some UK firms have proved they can shine. However, despite the proven capabilities, the financial return continues to be less than the government's funding. Each of the 20 CERN member states provides funds in proportion to its GDP and the UK is the second largest financial contributor. UK firms become price-competitive where a contract calls for a degree of customisation or product development, project management and tight quality control. Development of the Particle Physics Grid, for dissemination and analysis of data from the LHC, continues to provide major supply opportunities for UK manufacturers.

  9. Firms dealing with regulatory change: innovation and political influence strategies

    NARCIS (Netherlands)

    Wesseling, Joeri; Farla, Jacco; Hekkert, Marko

    2014-01-01

    Firm-level strategies, particularly political strategies, are overlooked in transition studies. Therefore, we study how car manufacturers combine and change their innovation and political influence strategies in response to a technology-forcing regulation that attempts to drive transition. We use

  10. Unraveling Supply-Driven Business Models of Architectural Firms

    NARCIS (Netherlands)

    Bos-De Vos, M.; Volker, L.; Wamelink, J.W.F.; Kaminsky, Jessica; Zerjav, Vedran

    2016-01-01

    Architectural firms deliver services for various, unique projects that are all characterized by a high level of uncertainty. To successfully propose, create and capture value, they need business models that are able to deal with this variety and uncertainty. So far, little is known about the

  11. The lake breeze-ground-level ozone connection in eastern Wisconsin: a climatological perspective

    Science.gov (United States)

    Lennartson, G. Jay; Schwartz, Mark D.

    2002-09-01

    The Lake Michigan Air Quality Region (LMAQR) experiences exceedances of the 1 h health standard for ozone numerous times each summer. Previous short-term investigations have revealed that the lake breeze circulation is connected with very high levels of ozone in eastern Wisconsin (EWI). Findings from one of the more recent short-term research efforts have led to the development of a generalized conceptual model that details the role that the lake breeze circulation plays in transporting ozone-rich air of the Lake Michigan conduction layer onshore to EWI. Short-term studies, however, are limited by the small number of cases examined. To understand the ozone-lake breeze relationship from a climatological perspective, we analysed the spatial and temporal pattern of 1 h ozone exceedances in EWI during the months of May through to September, over the period 1985-99. Further, we used Laird et al.'s recently developed technique for discriminating lake breeze days to determine which exceedance-days over the period of our climatology occurred in association with lake breezes.Our results show: (1) a decrease in both magnitude and frequency of exceedances of the 1 h ozone standard in EWI with increasing distance from the lakeshore; (2) a positive correlation between average onset time of the initial exceedance-hour and a site's distance from Lake Michigan; (3) a very high percentage of initial exceedance-hours occurring in association with southeasterly surface air flow; and (4) exceedances occurring in association with lake breezes 82.1% of the time at near-shore sites.Collectively, our findings provide strong evidence that the lake breeze circulation is closely associated with the distribution of ozone in EWI in both space and time. Moreover, our results show that the lake breeze circulation is directly associated with a significant proportion of the exceedances of the 1 h ozone standard in EWI-particularly at near-shore sites. Thus, mandated reductions in regional

  12. Structure, Employment and Performance in Biotech Firms

    DEFF Research Database (Denmark)

    Valentin, Finn; Dahlgren, Johan Henrich; Lund Jensen, Rasmus

    2006-01-01

    .g. universities, firms and venture capital. That makes DDFs a sensitive "seismograph" for the ability of the Danish innovation system to foster new science-based technologies.Key words: Employment, Biotechnology, Firm size distribution, Industry structure,Firm performanceJEL Codes: J21, L11, L22, L25, L65, O57......This report studies employment effects associated with the adoption of modern biotechnology in Danish industry. In this context we also examine industry structure, patterns of job creation, key outputs such as patents and the pipeline of projects in clinical trials. To see the development of Danish...... a segment of Drug Discovery Firms (DDFs), which almost exclusively are based on capabilities in biotech research. This delimitation gives the advantage of studying a homogenous segment of firms. At the same time, this segment of biotech research firms is an informative indicator of the ability of the Danish...

  13. Does Labor Diversity Affect Firm Performance?

    DEFF Research Database (Denmark)

    Pytlikova, Mariola; Pozzoli, Dario; Parrotta, Pierpaolo

    Using an employer-employee dataset, we analyze how diversity in cultural background, skills and demographic characteristics affects total factor productivity (TFP) of firms in Denmark. Implementing structural estimation of firms’ production function, we find evidence that labor diversity in skills...... costs connected to a more demographically and culturally diverse workforce, counteract the positive effects of diversity on firm TFP, coming from creativity and knowledge spillovers. However, we find that ethnic diversity is valuable for firms operating in industries characterized by above-average trade....../education significantly enhances firm performance as measured by firm TFP. Conversely, diversity in demographics and ethnicity brings mixed results – both dimensions of workforce diversity have either no or negative effects on firm TFP. Hence, it seems as if the negative effects, coming from communication and integration...

  14. Women in Top Management and Firm Performance

    DEFF Research Database (Denmark)

    Smith, Nina; Smith, Valdemar; Verner, Mette

    The purpose of this study is to present new evidence on the relationship between gender diversity in management and firm performance. According to corporate governance literature, board diversity is expected to affect firm performance. Using a large data set with more than 10000 time-observations......The purpose of this study is to present new evidence on the relationship between gender diversity in management and firm performance. According to corporate governance literature, board diversity is expected to affect firm performance. Using a large data set with more than 10000 time......-observations for all Danish firms with more than 50 employees over the period 1994-2003, the analysis suggests that the proportion of women in top management jobs has from none to positive influence on firm performance. However, the results show that the strength of the effects of women in top management depends...

  15. Social Media in Health Professional Education: A Student Perspective on User Levels and Prospective Applications

    Science.gov (United States)

    Maloney, Stephen; Moss, Alan; Ilic, Dragan

    2014-01-01

    Social Networking Sites (SNS) have seen exponential growth in recent years. The high utilisation of SNS by tertiary students makes them an attractive tool for educational institutions. This study aims to identify health professional students' use and behaviours with SNS, including students' perspectives on potential applications within…

  16. Do Prior Experience, Gender, or Level of Study Influence Music Students' Perspectives on Master Classes?

    Science.gov (United States)

    Long, Marion; Hallam, Susan; Creech, Andrea; Gaunt, Helena; Robertson, Linnhe

    2012-01-01

    The cyclic process of self-regulated learning has been identified as a predictor of achievement in musical skill acquisition and musical performance. Meta-cognition, intrinsic to the self-regulation process, develops as the student takes greater responsibility for their own learning. From this perspective we consider music students' responses to a…

  17. Generación de empleo, tamaño de empresa e innovación en Costa Rica; evidencia microeconómica Innovation and Employment Growth in Costa Rica; A firm-level analysis

    Directory of Open Access Journals (Sweden)

    Ricardo Monge-González

    2013-06-01

    Full Text Available Este proyecto tuvo como objetivos estudiar hasta qué punto las innovaciones en productos y procesos realizadas por las empresas manufactureras costarricenses crean o desplazan fuentes de empleo en el país; así como de qué forma las distintas estrategias de innovación (hecha en la empresa -make- o en asocio con terceros -buy- afectan la generación de empleo, y cómo estos efectos varían según el tamaño de las empresas y las características del tipo de demanda de empleo (pequeñas y medianas empresas [PyMEs], trabajadores calificados y no calificados. Para alcanzar estos objetivos, se estimaron varias versiones del modelo propuesto originalmente por Harrison, Jaumandreu, Mairesse y Peters (2008, usando un enfoque de variables instrumentales (VI y un panel de datos con base en la Encuesta de Innovación de Costa Rica para el período 2006-2007. Los resultados muestran que tanto la innovación de productos como la de procesos tienen un impacto positivo en el crecimiento de nuevas fuentes de empleo en las empresas manufactureras costarricenses, así como en las PyMEs. Se encontraron diferencias importantes en estos impactos, dependiendo del tamaño de las empresas y de si la demanda de empleo era por trabajadores calificados o no. La estrategia de innovación dentro de las propias empresas (make es la más importante en la generación de nuevas fuentes de empleo. Los hallazgos sugieren que aquellas políticas tendientes a fomentar la innovación por parte de las empresas costarricenses son de suma importancia para promover la generación de nuevas oportunidades de empleo en el país.This paper studies the degree to which innovation by Costa Rican manufacturing firms creates or displaces employment, how different innovation strategies affect employment, and how these effects vary by firm size and type of employment demand characteristics (skills and gender. In particular the research focuses on the differential effects of product and process

  18. Agglomeration Premium and Trading Activity of Firms

    OpenAIRE

    Gabor Bekes; Peter Harasztosi

    2010-01-01

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

  19. Employee Spinouts, Social Networks, and Family Firms

    OpenAIRE

    Rauch, James E.

    2013-01-01

    Recently collected data show that, within any manufacturing industry, vertically integrated firms tend to have larger, higher productivity plants, account for the bulk of sales, and also sell externally most of the inputs they produce. In a weak contracting environment characteristic of developing countries, vertically integrated firms are vulnerable to employee "spinouts": managers of input divisions can start their own firms, making customized inputs formerly provided internally subject to ...

  20. Firm Size Distribution in Fortune Global 500

    Science.gov (United States)

    Chen, Qinghua; Chen, Liujun; Liu, Kai

    By analyzing the data of Fortune Global 500 firms from 1996 to 2008, we found that their ranks and revenues always obey the same distribution, which implies that worldwide firm structure has been stable for a long time. The fitting results show that simple Zipf distribution is not an ideal model for global firms, while SCL, FSS have better fitting goodness, and lognormal fitting is the best. And then, we proposed a simple explanation.