Proactiveness in entrepreneurial software firms: the executives' voice

Directory of Open Access Journals (Sweden)

Jean-Pierre Boissin

2010-12-01

Full Text Available This article approaches proactiveness in firms, considered to be one of the dimensions of the entrepreneurial orientation. Its goal is to introduce the results of an exploratory and qualitative study, which aimed to characterize the proactiveness in entrepreneurial software firms. The theory resumes the concepts of entrepreneurial firms, entrepreneurial orientation and proactiveness. The data gathering was accomplished through deeper interviews with executives from 13 software firms that stand out in terms of entrepreneurship in Rio Grande do Sul state. The results of the study demonstrate that firms are proactive and show a characterization regarding this behavior, starting from the conceptual base adopted in the present study. Among the proactiveness elements in the researched organizations, the onesrelated to environment monitoring and opportunities quest are highlighted. The study also consoliding a components’ set of proactiveness based on the theory and organizational practice reported by executives.

The Strategic Organization of the Entrepreneurial Established Firm

DEFF Research Database (Denmark)

Foss, Nicolai Juul; Lyngsie, Jacob

2014-01-01

The entrepreneurship field predominantly focuses on start-ups, opportunity discovery and single individual. These overall characteristics mean that the field has difficulties conceptualizing and theorizing the entrepreneurial activities of established firms. In particular, the links between organ...

Digital Maturity of the Firm's Business Model

DEFF Research Database (Denmark)

Groskovs, Sergejs; Vemula, Sreekanth

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

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

OpenAIRE

Brem Markus; Tucha Thomas

2005-01-01

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

Setting health research priorities using the CHNRI method: IV. Key conceptual advances

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Igor Rudan

2016-06-01

Full Text Available Child Health and Nutrition Research Initiative (CHNRI started as an initiative of the Global Forum for Health Research in Geneva, Switzerland. Its aim was to develop a method that could assist priority setting in health research investments. The first version of the CHNRI method was published in 2007–2008. The aim of this paper was to summarize the history of the development of the CHNRI method and its key conceptual advances.

Moving forward with service dominant logic: Exploring the strategic orientations of a service-centred view of the firm

Directory of Open Access Journals (Sweden)

Paladino, A.

2013-01-01

Full Text Available Service Dominant Logic (SDL has been the subject of great conceptual debate over the past years. We are now clearly at a crossroad where application is required to cement its practical relevance to the organization and its performance. This paper extends the SDL debate, as founded by Vargo and Lusch (2004, by analyzing it through the lens of strategic orientations, in combination with a service-centred view of the firm. In doing so, the purpose of this paper is twofold. Firstly we aim to identify the existence of common characteristics between SDL and existing conceptual orientations. Secondly, we go further to explore the conceptual relationships between these identified and empirically evaluated strategic orientations (market, resource, learning, service, and entrepreneurship orientations and SDL theory. We proffer that a service-centred view of the firm requires the deployment of key facets of all of these strategic orientations. In this way, we argue that a SD orientation emerges that is in essence a strategic orientation combination. In doing so, we develop a comprehensive framework and lay the foundation for the initiation of empirical work on SDL to further enrich the work initiated by Vargo and Lusch (2004. The paper concludes with a discussion of this framework, its implications for scholars and practitioners and areas for future research.

Theories of the firm as a foundation for formulating accounting theories

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José Glauber Cavalcante dos Santos

2015-03-01

Full Text Available This paper develops an essay concerning the conceptual extension derived from the theory of the firm and its relationship to prevailing accounting theories, summarizes the main currents that try to explain the firm and seeks to establish a relationship with changes of direction in the object and purpose of accounting, as expressed in current accounting research. It is argued that the actual concept of “firm” ends up guiding an informational logic that is deep-rooted in accounting by means of the interpretations absorbed by accounting theory. The discussion centers on the object of accounting theory (registration and disclosure of economic aggregates as intended for accounting information users. The neoclassical theory of the firm, the contractual theory of the firm and the New Institutional Economics (NIE are used for support, focused on transactional costs, property rights and measurement costs. The concepts of business economics direct the actual conceptual logic of accounting theory, with the main intention being to provide efficient information to stakeholders. It has been observed that accounting theory has its roots in the neoclassical theory of the firm; and, by means of the contractual theory of the firm, where the monitoring of agents and of contracts is discussed, it goes beyond the limited vision of the assets control function (stewardship, expands the focus of providing information, in addition to the restricted function of accountability. And, finally, although not all elements of the new NIE are comprehended by accounting theory, the NIE withholds elements of instrumental importance for the consolidation of accounting theories concerning its institutionalization.

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

Science.gov (United States)

Elango, B.

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

Technological Capability and Firm Performance

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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.

Implementing Firm Dynamic Capabilities Through the Concept Design Process

DEFF Research Database (Denmark)

Nedergaard, Nicky; Jones, Richard

2011-01-01

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

The relationship between the key elements of Donabedian's conceptual model within the field of assistive technology

DEFF Research Database (Denmark)

Sund, Terje; Iwarsson, Susanne; Brandt, Åse

2015-01-01

Previous research has suggested that there is a relationship between the three key components of Donabedian's conceptual model for quality assessments: structure of care, process, and outcome of care. That is, structure predicted both process and outcome of care, and better processes predict better...

Purchasing social responsibility : a conceptual study

OpenAIRE

Mørk, Eirik; Solheim, Kristian Hauge

2014-01-01

This paper focuses on Purchasing Social Responsibility (PSR). Suppliers play an important role in the overall corporate social responsibility (CSR) efforts of the purchasing firm. The purpose of this paper is to explore potential firm performance effects from PSR, which contributes to an area of research that is limited at this point. The aim is to develop a survey instrument based on a set of formulated hypotheses and a conceptual framework. These are grounded in a literature review of core ...

Chinese firms entering Europe : internationalization through acquistitions and strategic alliances

NARCIS (Netherlands)

Zhang, Y.; Duysters, G.M.; Filloppv, S.

2012-01-01

Purpose – The purpose of this study is to examine specific use of strategic alliances and acquisitions for Chinese firms to catch-up technologically and to enhance their internationalization competence. Design/methodology/approach – The paper offers a conceptual analysis of internationalization

Chinese firms entering Europe : Internationalization through acquisitions and strategic alliances

NARCIS (Netherlands)

Duijsters, G.M.; Zhang, Y.; Filippov, S.

2012-01-01

Purpose – The purpose of this study is to examine specific use of strategic alliances and acquisitions for Chinese firms to catch‐up technologically and to enhance their internationalization competence. Design/methodology/approach – The paper offers a conceptual analysis of internationalization

Choice of Ownership Structure and Firm Performance

DEFF Research Database (Denmark)

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

2003-01-01

In this paper we use rich panel data for a representative sample of Estonian enterprises to analysediverse issues related to the determinants of ownership structures and ownership changes afterprivatisation. A key focus is to determine whether ownership changes are related to economicefficiency....... While employee owned firms are found to be much more prone than other firms toswitch ownership categories, often `employee owned' firms remain `insider-owned' as ownershippasses from current employees to managers and former employees. Logit analyses of thedeterminants of ownership structures...... and ownership changes provides mixed support for severalhypotheses. As predicted: (i) wealth and resource constraints play a crucial role in thedetermination of ownership, with foreigners buying firms with the highest equity levels andinsiders buying firms with the lowest equity valuations; (ii) risk aversion...

How Aesthetics and Economy Become Conversant in Creative Firms

DEFF Research Database (Denmark)

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

2017-01-01

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

The Relationship between entrepreneurial orientation, entrepreneurial competencies, entrepreneurial leadership, and firm performance: A proposed model

Directory of Open Access Journals (Sweden)

Chijioke Nwachukwu

2017-06-01

Full Text Available This study develops a conceptual model and propositions for researchers to explore the direct and indirect relationship between entrepreneurial orientation, entrepreneurial competencies, entrepreneurial leadership and firm performance. Authors searched various databases including ProQuest, EBSCOhost databases, Scopus for peer reviewed Journals, books, and other relevant publications on the subject. A conceptual review provides direction for researchers to empirically examine the direct relationships between entrepreneurial orientation (EO, entrepreneurial competencies (EC, and firm performance and the mediating effect of entrepreneurial leadership (EL in the relationship between EO, EC, and firm performance. We suggest the use of entrepreneurial orientation scale (EOS, The entrecomp framework (2016, Renko et al., 2015 entrepreneurial leadership styles scale (ENTRELEAD, and Santos & Brito (2012 subjective measurement model for firm performance for measurement of the constructs of EO, EC, EL and performance. For researchers and academics, the model provides a basis for further research by testing empirically the validity of the model. Testing of this model could provide a better understanding of the EO, EC constructs that better predicts strategic and financial performance.

Endogenous Markups, Firm Productivity and International Trade:

DEFF Research Database (Denmark)

Bellone, Flora; Musso, Patrick; Nesta, Lionel

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

Inter-firm and intra-firm efficiency measures

NARCIS (Netherlands)

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

2001-01-01

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

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...

Structure, Employment and Performance in Biotech Firms

DEFF Research Database (Denmark)

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

2006-01-01

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...... economy to perform in the transition towards knowledge and sciencebased competitiveness. That is so because DDFs to an unusual extent depend on the ability of their framework to perform as an innovation system, by which we refer to advantages growing out of interactions and complementarities between e.......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...

INFLUENCE OF FIRM SIZE ON ITS BUSINESS SUCCESS

Directory of Open Access Journals (Sweden)

Maja Pervan

2012-12-01

Full Text Available A firm may use different methods and diverse (nonfinancial analysis/indicators in order to evaluate its business success. However, one of the most widely applied methods refers to financial analyses that use profitability ratios as the key measures of firm’s overall efficiency and performance. In this research we focused our attention on firm size and evaluated its influence on firm profitability. Other than by the size of a firm, a firm performance is affected by a variety of internal and external variables. Therefore, apart from mere investigating the relationship between firm size and performance, we also explored the impact of some other variables crucial in determining firm profitability. The analysis was conducted for the 2002-2010 period and the results revealed that firm size has a significant positive (although weak influence on firm profitability. Additionally, results showed that assets turnover and debt ratio also statistically significantly influence firms’ performance while current ratio didn’t prove to be an important explanatory variable of firms’ profitability.

Firm performance model in small and medium enterprises (SMEs) based on learning orientation and innovation

Science.gov (United States)

Lestari, E. R.; Ardianti, F. L.; Rachmawati, L.

2018-03-01

This study investigated the relationship between learning orientation, innovation, and firm performance. A conceptual model and hypothesis were empirically examined using structural equation modelling. The study involved a questionnaire-based survey of owners of small and medium enterprises (SMEs) operating in Batu City, Indonesia. The results showed that both variables of learning orientation and innovation effect positively on firm performance. Additionally, learning orientation has positive effect innovation. This study has implication for SMEs aiming at increasing their firm performance based on learning orientation and innovation capability.

Characterization of the Relationship Between Firms and Universities and Innovation Performance: The Case of Colombian Firms

Directory of Open Access Journals (Sweden)

Fredy Gomez

2014-04-01

Full Text Available Within the National Innovation System, universities play a key role as the main source of knowledge that supports national productivity and as a system that seeks to improve the competitiveness of firms competitiveness and to find answers concerning market needs in today’s fast-changing and globalized economy. Innovation, as a source of competitiveness, is normally supported by a firm’s technological capabilities: internal R&D, external collaborative agreements, and relationships with universities. This study uses a cluster analysis to identify three clusters that represent respectively those firms that interact closely with universities for technology development (which include R&D projects and technological learning activities, those firms that interact with universities for technological learning only, and those that do not have any kind of relationship with universities. We also analyze the innovation performance of each cluster. Data here come from the Second Colombian Innovation Survey, which was applied in 2005 to a sample of 6,222 firms. Among the main results, this study shows a higher innovation performance for those firms with relevant linkages for technology learning activities.

Exploring success and failure in small firm business transfers

NARCIS (Netherlands)

Teeffelen, van L.

2010-01-01

The main purpose of this dissertation is to identify the factors that explain success and failure in SME business transfers. Three key concepts have been defined in our research framework: firm resources, capabilities (of predecessor and successor) and (successor’s) strategic renewal. Firm resources

Replication of innovation in professional service firms: options for leveraging knowledge

NARCIS (Netherlands)

Tuominen, T.; van der Aa, W.

2013-01-01

In this conceptual paper we elaborate on the replication of innovation in professional service firms (PSFs). We do this by integrating literature streams on replication, knowledge sharing, productization of services and management of PSF’s. First we discuss the object of replication in order to

Microcap pharmaceutical firms: linking drug pipelines to market value.

Science.gov (United States)

Beach, Robert

2012-01-01

This article examines predictors of the future market value of microcap pharmaceutical companies. This is problematic since the large majority of these firms seldom report positive net income. Their value comes from the potential of a liquidity event such as occurs when a key drug is approved by the FDA. The typical scenario is one in which the company is either acquired by a larger pharmaceutical firm or enters into a joint venture with another pharmaceutical firm. Binary logistic regression is used to determine the impact of the firm's drug treatment pipeline and its investment in research and development on the firm's market cap. Using annual financial data from 2007 through 2010, this study finds that the status of the firm's drug treatment pipeline and its research and development expenses are significant predictors of the firm's future stock value relative to other microcap pharmaceutical firms.

Why firm-established user communities work for innovation

DEFF Research Database (Denmark)

Jeppesen, Lars Bo; Frederiksen, Lars

Studies of the sources of innovations have recognized that many innovations are developedby users. However, the fact that firms employ communities of users to strengthen their innovationprocess has not yet received much attention. In firm-established user communities users freely revealinnovation...... by selling them to all users. We study the key personal attributes of the individuals responsiblefor innovations and the creation of value in this organizational context, namely the innovative users, toexplain why firm-established user communities work. Analyzing data derived from a web...

Why firm-established user communities work for innovation

DEFF Research Database (Denmark)

Jeppesen, Lars Bo; Frederiksen, Lars

2004-01-01

Studies of the sources of innovations have recognized that many innovations are developedby users. However, the fact that firms employ communities of users to strengthen their innovationprocess has not yet received much attention. In firm-established user communities users freely revealinnovation...... by selling them to all users. We study the key personal attributes of the individuals responsiblefor innovations and the creation of value in this organizational context, namely the innovative users, toexplain why firm-established user communities work. Analyzing data derived from a web...

The relationship among the resiliency practices in supply chain, financial performance, and competitive advantage in manufacturing firms in Indonesia and Sierra Leone

Science.gov (United States)

Musa, I.; Nyoman Pujawan, I.

2018-04-01

Current supply chain management (SCM) has become a potentially treasured way of safeguarding competitive advantage and improving organizational performance since competition is no longer between organizations, but among supply chains. This research conceptualizes and develops four resiliency practices (Flexibility, Redundancy, Collaboration and Agility) and tests the relationships between organizations’ financial performance and competitive advantage in manufacturing firms. The study involves manufacturing firms in Indonesia and Sierra Leone. The study used stratified random sampling to pick a sample size of 95 manufacturing firms, which represented different industrial sectors. The respondents were mainly managers of different manufacturing companies. The relationships proposed in the conceptual framework were tested using correlation analysis. The results indicate that higher levels of resilience practices in manufacturing firms can lead to enhanced competitive advantage and improved financial performance.

New Firm Survival: Industry versus Firm Effects

NARCIS (Netherlands)

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

1997-01-01

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

Key to internationalization of the civil engineering consulting firms. A success story: TYPSA group

Directory of Open Access Journals (Sweden)

Mª Ángeles Rastrollo Horrillo

2014-05-01

Full Text Available Purpose: To progress in the identification of the characteristics of the engineering consulting firms sector that influence the internationalization as well as profiling the decisions that shape their internationalisation strategy. Design/methodology: The applied methodology combines both the review of the academic literature and practical perspective based on a case study. The main source of data comes from a number of semi-structured interviews. In order to allow for the triangulation of data, additional data from the review of the documentation of the enterprise as well as from professional published reports on the sector was collected. Contributions and results: Three distinctive features of the engineering consulting firms and on the way they condition their internationalisation strategy were identified. The case analysis has allowed highlighting elements of the organizational, human and relational assets underpinning the internationalisation strategy f these companies. Research limitations/implications: The mains limitations of this research are related to the study of only one case for the qualitative method. For that reason, the results are not generalizable. Practical implications: The results could help engineering consulting firms in defining their internationalisation strategy. Originality/value: This article contributes to the literature on the internationalisation of the services sector by filling the gap in the concrete issues of the internationalisation of engineering consulting firms.

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.

Conceptualizing innovation capabilities: A contingency perspective

Directory of Open Access Journals (Sweden)

Tor Helge Aas

2017-01-01

Full Text Available Empirical research has confirmed that a positive relationship exists between the implementation of innovation activities and the future performance of organizations. Firms utilize resources and capabilities to develop innovations in the form of new products, services or processes. Some firms prove to be better at reproducing innovation success than others, and the capacity to do so is referred to as innovation capability. However, the term innovation capability is ambiguously treated in extant literature. There are several different definitions of the concept and the distinction between innovation capabilities and other types of capabilities, such as dynamic capabilities, is neither explicitly stated, nor is the relationship between the concept and other resource- and capability-based concepts within strategy theory established. Although innovation is increasingly identified as crucial for a firm’s sustainable competitiveness in contemporary volatile and complex markets, the strategy-innovation link is underdeveloped in extant research. To overcome this challenge this paper raises the following research question: What type of innovation capabilities are required to innovate successfully? Due to the status of the extant research, we chose a conceptual research design to answer our research question and the paper contributes with a conceptual framework to discuss what innovation capabilities firms need to reproduce innovation success. Based on careful examination of current literature on innovation capability specifically, and the strategy-innovation link in general, we suggest that innovation capability must be viewed along two dimensions – innovation novelty and market characteristics. This framework enables the identification of four different contexts for innovation capabilities in a two-bytwo matrix. We discuss the types of innovation capabilities necessary within the four different contexts. This novel framework contributes to the

Determinants of Firm R&D

DEFF Research Database (Denmark)

Tingvall, Patrick Gustavsson; Poldahl, Andreas

2012-01-01

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

Capital market financing, firm growth, and firm size distribution

OpenAIRE

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

2015-01-01

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

THE THEORY OF THE FIRM AND THE EVOLUTIONARY GAMES

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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

Choice of ownership structure and firm performance: Evidence from Estonia

OpenAIRE

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

2003-01-01

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

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...

The Impact of Entrepreneurship Education on Succession in Ethnic Minority Family Firms

Science.gov (United States)

Hussain, Javed G.; Scott, Jonathan M.; Matlay, Harry

2010-01-01

Purpose: The purpose of this paper is to explore the impact that entrepreneurship education can have on succession in ethnic minority family firms that operate in the highly competitive UK economy. Design/methodology/approach: The paper employs a complex conceptual model of ethnic minority graduates' economic activities and outlines the possible…

Components of Insurance Firm Value and the Present Value of Liabilities

OpenAIRE

David F. Babbel

1998-01-01

In this paper, we discuss the relation between the market value of insurance company owners' equity and various components that contribute to that value. The effect of firm insolvency risk on each component of value is discussed in turn. One natural consequence of this analysis is a conceptual framework for estimating the value of insurance liabilities.

Does the meta-environment determine firm performance? Theory and evidence from European multinational enterprises

NARCIS (Netherlands)

de Jong, Gjalt; Phan, T. Binh; van Ees, Hans; Phan, T.T.

We study an underrepresented area in the international business literature: the effect of the meta-environment on multinational enterprise (MNE) performance. A meta-environment is a symbiosis of all country environments where an MNE operates. This conceptualization of a firm's external context is

The Nexus between Labor Diversity and Firm´s Innovation

DEFF Research Database (Denmark)

Parrotta, Pierpaolo; Pozzoli, Dario; Pytlikova, Mariola

technological areas (extensive margin). We find that skill diversity plays a key role in propelling firm's innovation outcomes. The positive in uence of heterogeneity in the ethnic dimension turns to be not negligible, too. Conversely, the effect of demographic diversity typically vanishes once detailed firm......This paper investigates the nexus between labor diversity and innovation in a population of Danish firms. Specifically, exploiting information retrieved from a comprehensive linked employer-employee database and implementing a proper instrumental variable strategy, we are able to identify...

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.

Assessing the Role of Energy in Development and Climate Policies - Conceptual Approach and Key Indicators

DEFF Research Database (Denmark)

Halsnæs, Kirsten; Garg, Amit

2011-01-01

The paper discusses a number of key conceptual issues related to the role of energy in development and its potential synergies and tradeoffs with climate change. The relationship between economic development and energy over time is discussed and illustrated by data from China, India and South...... Africa, and some other countries. It concludes that energy plays an important role as a productivity enhancing factor in economic development and in human well being. Several policy goals related to sustainable development, energy, and climate can be integrated. However, meeting all these policy goals...

Analysis Regarding the Growing Presence of Italian Firms in Romania

Directory of Open Access Journals (Sweden)

Stefano Valdemarin

2015-12-01

Full Text Available At the end of 2014, the number of firms with an Italian presence in Romania was 39,556, representing 19.33% out of total registered firms and this number is still growing. This article focuses on answering the following question: what kind of Italian firms are investing in Romania and why? Starting from the empirical observation that the number of Italian firms in Romania grew by 6.82% last year, we have used a PESTEL analysis to find the key points characterizing the country, paying attention also to the concept of country brand. From the point of view of Italian firms, we have also analyzed the shifting paradigm of internationalization from a Vertical Foreign Direct Investment model to a Horizontal Foreign Direct Investment model. This paper can be useful for managers and entrepreneurs who are oriented towards investing in Romania following the path of Italian firms.

Business factors related to manufacturing firms' performance

Directory of Open Access Journals (Sweden)

Stergios Vranakis

2014-01-01

Full Text Available Purpose: The main goal is to understand the way many factors affect the investment decision making process and business performance. Design/methodology/approach: This study proposes a new conceptual framework for examining the reasons that manufacturing firms decide to invest on the acquisition of new machinery and equipment in order to improve their infrastructure. It incorporates various factors related to the internal business environment (quality management, investment decisions etc. Findings and Originality/value: A new conceptual framework, establishing the relations between many factors, has been developed, allowing the determinants of adoption of many implications to be discussed and to relate them to the peculiarities of the Greek manufacturing industry. Originality/value: This study presents an overview of the impact of machinery and equipment investment on firm’s performance, giving grasp for further research of the inter-organizational relationships that exist between them. 

Capabilities for managing service innovation: towards a conceptual framework

NARCIS (Netherlands)

den Hertog, P.; van der Aa, W.; de Jong, M.W.

2010-01-01

Purpose - The purpose of this paper is to identify and reflect on a set of dynamic capabilities for managing service innovation and applies a dynamic capabilities view (DCV) of firms for managing service innovation. Design/methodology/approach - This theoretical paper offers a conceptual framework

Focal Impulse And Rotor Mapping (FIRM): Conceptualizing And Treating Atrial Fibrillation.

Science.gov (United States)

A B Zaman Ma Bm BChir, Junaid; Schricker Md, Amir; G Lalani Md, Gautam; Trikha Bs, Rishi; E Krummen Md, David; M Narayan Md PhD, Sanjiv

2014-01-01

Current approaches for the ablation of atrial fibrillation are often effective, but only partially rooted in mechanistic understanding. Accordingly, they are unable to predict whether a given patient will or will not do well, or which lesions sets should or should not be performed - in any given patient. This goal would require clearer mechanistic definition of what sustains AF after it has been triggered (i.e. electrophysiological substrates). There are two schools of thought. The first proposes disorganized activity that self-sustains with no 'driver', and the second describes drivers that then cause disorganization. Interestingly, these mechanisms can be separated in human studies by mapping approach - proponents of the disorganized hypothesis studying small atrial areas at high resolution, and proponents of the driver model studying wide fields-of-view at varying resolutions. Focal impulse and rotor modulation (FIRM) mapping combines a wide field of view with physiologically based signal filtering and phase analysis, and has revealed that human AF is often sustained by rotors. In the CONFIRM Trial, targeting stable AF rotors/sources for ablation improved the single-procedure efficacy for paroxysmal and persistent AF over conventional ablation alone, as now confirmed by independent laboratories. FIRM mapping gives a mechanistic foundation to predict whether any selected lesions should intersect AF sources in any given patient and which mechanisms may cause recurrence. Rotors of varying characteristics have now been shown by many groups. These insights have reinvigorated interest in AF mapping, and rationalizing these findings will likely translate into improved therapy for our patients.

Human Capital-Intensive Firms and Symbolic Value Creation

Directory of Open Access Journals (Sweden)

Cezanne Cécile

2014-06-01

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

Firm handling; the information exchange interaction by parents in paediatric care – An observational study

Directory of Open Access Journals (Sweden)

Carina Berterö

2011-01-01

Full Text Available Background: Information exchange is fundamental in the paediatric care encounter. Health care professionals need further background knowledge to encounter the parents/guardians from their perspective in their minors’ paediatric care. The parents’/guardians’ ability to manage the situation is dependent on their receiving optimal information, which is why it is important to study how information is exchanged.Aim: The aim of this study was to identify, describe and conceptualize how parents/guardians resolved their main concern ininformation exchange with health care professionals in paediatric care situations involving their minors.Methodology: Glaser’s grounded theory method was used and all data were analysed using constant comparative analysis. The observational study took place at three paediatric outpatient units at a university hospital and 24 parents/guardians participated. Data sources were field notes from 37 observations of paediatric care situations and five adherent excerpts from the minors’ medical records. Grounded theory is a method of conceptualising behaviour, which is why an observational study of parents’/guardians’ information exchange and social interaction in the context of nursing care is relevant as research design.Results: Firm handling was revealed as the way the parents/guardians resolved their main concerns when they were exchanging information about their minors’ paediatric care. Firm handling is built on five inter-related categories: representative advocating, collaborating, aim sharing, supportive resourcing and minor bypassing.Conclusions: This knowledge suggests possible ways for health care professionals to design paediatric care that supports, facilitates, strengthens and improves the parents’/guardians’ firm handling. The key issue is to find ways to support parents/guardians and minors so they can participate in health care encounters according to their preferences. Firm handling gives an

Do Foreign Experts Increase the Productivity of Domestic Firms?

DEFF Research Database (Denmark)

Malchow-Møller, Nikolaj; Munch, Jakob Roland; Rose Skaksen, Jan

While most countries welcome (and some even subsidise) high-skilled immigrants, there is very limited evidence of their importance for domestic firms. To guide our empirical analysis, we first set up a simple theoretical model to show how foreign experts may impact on the productivity and wages o...... productive (pay higher wages) and increase their exports of goods and services.......While most countries welcome (and some even subsidise) high-skilled immigrants, there is very limited evidence of their importance for domestic firms. To guide our empirical analysis, we first set up a simple theoretical model to show how foreign experts may impact on the productivity and wages...... of domestic firms. Using matched worker-firm data from Denmark and a difference-indifferences matching approach, we then find that firms that hire foreign experts – defined as employees eligible for reduced taxation under the Danish "Tax scheme for foreign researchers and key employees" – both become more...

Is the Green Key standard the golden key for sustainability measurement in the hospitality sector?

NARCIS (Netherlands)

Rietbergen, M.G.; Van Rheede, A.

2014-01-01

The Green Key is an eco-rating program that aims at promoting sustainable business practices in the hospitality sector. The Green Key assesses amongst others the sustainable management of energy, water and waste within hotels and other hospitality firms. The Green Key standard awards points if

The firm. Techno-organizational changes, industrial relations and performances. An enquiry on Reggio Emilia local industrial system

OpenAIRE

Antonioli, Davide

2008-01-01

It is not unknown that the evolution of firm theories has been developed along a path paved by an increasing awareness of the organizational structure importance. From the early “neoclassical” conceptualizations that intended the firm as a rational actor whose aim is to produce that amount of output, given the inputs at its disposal and in accordance to technological or environmental constraints, which maximizes the revenue (see Boulding, 1942 for a past mid century state of th...

Integrated information and logistics management, quality management and firm performance of pork processing industry in China

NARCIS (Netherlands)

Han, J.; Trienekens, J.H.; Omta, S.W.F.

2009-01-01

Purpose – This paper seeks to discuss the interactions amongst integrated information technology (IT), integrated logistics management, quality management practices and firm performance of pork processors in China. Design/methodology/approach – A conceptual framework was developed by examining the

Conceptual performance model for deep in situ recycled pavements with cement and bitumen additives

CSIR Research Space (South Africa)

Steyn, WJvdM

2001-10-01

Full Text Available RESUMEN El objetivo de esta comunicación es proveer información a cerca de un modelo conceptual de comportamiento de firmes sometidos al reciclado profundo in situ, en los cuales cemento y betún espumado, o cemento y emulsión bituminosa, han sido... aspectos de comportamiento muy distintos a firmes convencionales. La descripción de las estructuras de los firmes, su construcción y su medioambiente son presentados en esta comunicación. También, se discuten y se muestran los resultados iniciales de...

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...

The success factors in the new technology based firms

International Nuclear Information System (INIS)

Merino, C.; Villar, L.

2007-01-01

New Technology Based Firms (NTBFs) are taking an important role around competitive strategies inside different administrative frameworks, understanding their value for society and the need based on work plans to support their development. In this case, next lines are focused on conceptual side about NTBFs reality even more an analytical model proposal based on a structure composed by tangible and intangible assets what creating a global vision of entrepreneurial process and main issues what impacting on success rate. (Author) 88 refs

Apple hypanthium firmness: New insights from comparative proteomics

KAUST Repository

Marondedze, Claudius

2012-06-26

Fruit firmness constitutes an important textural property and is one of the key parameters for estimating ripening and shelf life, which has a major impact on commercialization. In order to decipher the mechanisms related to firmness of apples (Malus × domestica Borkh.), two-dimensional gel electrophoresis (2-DE) was used to compare the total proteome of high and low firmness phenotypes from apple hypanthia of a \\'Golden Delicious\\' × \\'Dietrich\\' population. A total of 36 differentially regulated protein spots were positively identified by matrix assisted laser desorption/ionization-time of flight (MALDI-TOF) mass spectrometry (MS) and then validated against the Malus expressed sequence tags (EST) database. The findings of this study indicated a lower expression of ethylene biosynthesis related proteins in the high firmness phenotype, which could be linked to the slowing down of the ripening and softening processes. The reduced accumulation of proteins involved in ethylene biosynthesis juxtaposed to the upregulation of a transposase and a GTP-binding protein in the high firmness phenotype. The results also showed higher expression of cytoskeleton proteins in the high firmness phenotype compared to the low firmness phenotype, which play a role in maintaining cell structure and possibly fruit integrity. Finally, a number of proteins involved in detoxification and defense were expressed in fruit hypanthium. This proteomic study provides a contribution towards a better understanding of regulatory networks involved in fruit hypanthium firmness and/or softening, which could be instrumental in the development of improved fruit quality. © 2012 Springer Science+Business Media, LLC.

Evolutionary model of the growth and size of firms

Science.gov (United States)

Kaldasch, Joachim

2012-07-01

The key idea of this model is that firms are the result of an evolutionary process. Based on demand and supply considerations the evolutionary model presented here derives explicitly Gibrat's law of proportionate effects as the result of the competition between products. Applying a preferential attachment mechanism for firms, the theory allows to establish the size distribution of products and firms. Also established are the growth rate and price distribution of consumer goods. Taking into account the characteristic property of human activities to occur in bursts, the model allows also an explanation of the size-variance relationship of the growth rate distribution of products and firms. Further the product life cycle, the learning (experience) curve and the market size in terms of the mean number of firms that can survive in a market are derived. The model also suggests the existence of an invariant of a market as the ratio of total profit to total revenue. The relationship between a neo-classic and an evolutionary view of a market is discussed. The comparison with empirical investigations suggests that the theory is able to describe the main stylized facts concerning the size and growth of firms.

Entrepreneurship and the Economic Theory of the Firm

DEFF Research Database (Denmark)

Foss, Nicolai Juul; Klein, Peter G.

2004-01-01

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

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

OpenAIRE

K. Appasamy; P. Paul

2016-01-01

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

Firm-Size Wage Gaps along the Formal-Informal Divide: Theory and Evidence

OpenAIRE

Balkan, Binnur; Tumen, Semih

2015-01-01

Observationally equivalent workers are paid higher wages in larger firms. This fact is often named as the “firm-size wage gap” and is regarded as a key empirical puzzle. Using micro-level data from Turkey, we document a new stylized fact : the firm-size wage gap is more pronounced for informal (unregistered) jobs than for formal (registered) jobs. To explain this fact, we develop a two-stage wage-posting game with market imperfections and segmented markets, the solution to which produces wage...

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.

The Emergence of the Lean Global Startup as a New Type of Firm

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Erik Stavnsager Rasmussen

2015-11-01

Full Text Available This article contributes to the interplay between international entrepreneurship, innovation networks, and early internationalization research by emphasizing the need to conceptualize and introduce a new type of firm: the lean global startup. It discussed two different paths in linking the lean startup and born-global internationalization strategies. The first path refers to generic lean startups that have undertaken a rapid internationalization strategy (i.e., lean-to-global startups. The second path refers to startups that have started operating on global scale since their inception and adopted the lean startup approach by seamlessly synergizing their global and lean product development activities. The article emphasizes several aspects that could be used as part of the theoretical foundation for conceptualizing lean global startups as a special new type of firm: i the emergent nature of their business models, including the challenges of partnership development on a global scale; ii the inherently relational nature of the global resource allocation processes; iii the integration of the entrepreneurial, effectuation, and global marketing perspectives; iv the need to deal with a high degree of uncertainty, including the uncertainty associated with cross-border business operations; and v linking the ex-ante characteristics of lean startups with the ex-post characteristics of born-global firms in order to develop a technology adoption marketing perspective that considers the “crossing the chasm” process as a successful entry into a global market niche.

Information and Knowledge Management at South African Law Firms

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T du Plessis

2011-07-01

Full Text Available Global and national law firms alike operate in a challenging business environment and managing the firm's information and knowledge assets is increasingly viewed as a key factor in efficient legal service delivery. In legal practice, information management technologies, for example intranets, portals, workflow management systems, document and content management systems, case and project management systems and online dispute resolution systems are becoming important means of legal service delivery. The reason for applying information management technologies and implementing knowledge management strategies in law firms is not only to satisfy clients' growing need for a trusted online platform to interact with legal service providers, but for law firms to capitalise on their intellectual assets, to continuously modernise legal practice management, to empower lawyers, to increase productivity, to use time efficiently, to transfer skills and knowledge from senior to junior professionals, to improve service delivery and to gain competitive advantage. This article firstly reviews the role of information and knowledge management in providing an effective legal service to clients and compares foreign and South African law firms' information management related contexts, challenges and benefits. Secondly, it presents the findings of a survey conducted at South African law firms based on their knowledge management practices. The aim of the article is to provide insights into law firm knowledge management and its effect on providing legal services in an online business environment.

Optoelectronics-related competence building in Japanese and Western firms

Science.gov (United States)

Miyazaki, Kumiko

1992-05-01

In this paper, an analysis is made of how different firms in Japan and the West have developed competence related to optoelectronics on the basis of their previous experience and corporate strategies. The sample consists of a set of seven Japanese and four Western firms in the industrial, consumer electronics and materials sectors. Optoelectronics is divided into subfields including optical communications systems, optical fibers, optoelectronic key components, liquid crystal displays, optical disks, and others. The relative strengths and weaknesses of companies in the various subfields are determined using the INSPEC database, from 1976 to 1989. Parallel data are analyzed using OTAF U.S. patent statistics and the two sets of data are compared. The statistical analysis from the database is summarized for firms in each subfield in the form of an intra-firm technology index (IFTI), a new technique introduced to assess the revealed technology advantage of firms. The quantitative evaluation is complemented by results from intensive interviews with the management and scientists of the firms involved. The findings show that there is a marked variation in the way firms' technological trajectories have evolved giving rise to strength in some and weakness in other subfields for the different companies, which are related to their accumulated core competencies, previous core business activities, organizational, marketing, and competitive factors.

Pre-conceptual-schema-based patterns for deriving key performance indicators from strategic objectives

Directory of Open Access Journals (Sweden)

Carlos Mario Zapata Jaramillo

2017-05-01

Full Text Available Performance measurement is crucial for achieving business success. Moreover, such success is also related to the fulfillment of the organizational strategic objectives. Hence, an adequate determination of relevant performance indicators—or key performance indicators (KPIs—and their relationships to organizational objectives is needed. Even though several approaches for treating KPIs and objective-KPI relationships have been proposed, they exhibit some drawbacks associated with the lack of reusability and traceability. We attempt to fill this gap by proposing a set of patterns based on pre-conceptual schemas for supporting the systematic derivation of KPIs and their relationships to organizational objectives. In this way, the proposed patterns guarantee a reusable and traceable derivation process of a set of candidate KPIs from organizational strategic objectives. Lastly, we provide a lab study in order to illustrate the usefulness of this proposal.

Genes and quality trait loci (QTLs) associated with firmness in Malus x domestica

KAUST Repository

Marondedze, Claudius

2013-03-31

Fruit firmness, a quality quantitative trait, has long been established as a key textural property and one of the essential parameters for estimating ripening and shelf life of apples. Loss of firmness, also referred to as fruit softening, is undesirable in apples and represents a serious problem for growers in many countries. This results in the reduction of apple shelf life and in turn influences its commercialization. Low firmness impacts negatively on the sensory values of juiciness, crunchiness and crispness. Fruit firmness is affected by the inheritance of alleles at multiple loci and their possible interactions with the environment. Identification of these loci is key for the determination of genetic candidate markers that can be implemented in marker assisted selection and breeding for trees and/or cultivars that can yield firmer fruits with economic value. In turn, this technique can help reduce the time needed to evaluate plants and new cultivars could become available faster. This review provides an overview of quantitative trait loci (QTL), including additional putative QTLs that we have identified, and genes associated with firmness and their importance to biotechnology, the breeding industry and eventually the consumers.

THE CONSEQUENCES OF STRATEGIC ORIENTATION OF THE FIRM ON BUSINESS PERFORMANCE

Directory of Open Access Journals (Sweden)

Cristian DUTU

2016-11-01

Full Text Available This study aims to develop a conceptual model used for empirical testing of strategic orientation and the effects of the strategic orientation on organizational performance. As the strategic orientations addressed by organizations vary by organizational environment, the main objective of strategic management research has been to determine and understand performance differences between firms. The present research used the results obtained by interviewing 121 large companies in Romania, and by using simple linear regression, we tested the existence of strategic orientation in these companies and its effects on organizational performance. This research confirms the presence of strategic orientation at firm level and its positive effect on performance. The major contribution of this study is that it complements the empirical data in existing literature around the effects of strategic orientation on organizational performance.

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.

Small Open Economy Firms in International Trade

DEFF Research Database (Denmark)

Eriksson, Tor Viking; Smeets, Valérie; Warzynski, Frederic

In this paper, we use a rich dataset disaggregating imports and exports decisions by product and origin/destination of all Danish companies for the period 1993-2003 to provide key elements in characterizing Danish firms in international trade. Most evidence to date emanates from the U.S. or devel......In this paper, we use a rich dataset disaggregating imports and exports decisions by product and origin/destination of all Danish companies for the period 1993-2003 to provide key elements in characterizing Danish firms in international trade. Most evidence to date emanates from the U...... in Denmark than in the U.S. There are few traces of the European Union's Single Market Program and the adoption the Euro in 1998. We observe no impact of these changes on the number of exporters, but some signs of impacts on the number of products and export destination countries. Finally, we find that trade...

Modelling quality dynamics on business value and firm performance in big data analytics environment

OpenAIRE

Ji-fan Ren, S; Fosso Wamba, S; Akter, S; Dubey, R; Childe, SJ

2017-01-01

Big data analytics have become an increasingly important component for firms across advanced economies. This paper examines the quality dynamics in big data environment that are linked with enhancing business value and firm performance. The study identifies that system quality (i.e., system reliability, accessibility, adaptability, integration, response time and privacy) and information quality (i.e., completeness, accuracy, format and currency) are key to enhance business value and firm perf...

Transformation of Manufacturing Firms to Servitisation Firms

DEFF Research Database (Denmark)

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

2014-01-01

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

Developing a framework for audit quality management in audit firms

OpenAIRE

Darius Vaicekauskas, Jonas Mackevičius

2014-01-01

Over the last few decades audit quality has been investigated by many scholars, although it still hasn’t been properly conceptualized and lacks one common definition. This may be explained by the constant shifting of audit theory and practice, and the complexity of the audit service. The objective of the paper is to investigate the existing definitions of audit quality, identify its main elements and provide a framework for audit quality management in audit firms. The main contribution of the...

The Nature of Conflict in Firm-Client Relations: A Content Analysis of "Public Relations Journal," 1980-89.

Science.gov (United States)

Bourland, Pamela G.

1993-01-01

Finds that key issues recurring in articles regarding public relations firm-client relations were concerns over knowing each other's businesses, contributing to a consistent communication flow, finances, and "chemistry." Finds that conflict issues for public relations firms parallel those for advertising firms as reported in the advertising agency…

Firm size and productivity. Evidence from the electricity distribution industry in Brazil

International Nuclear Information System (INIS)

Tovar, Beatriz; Javier Ramos-Real, Francisco; De Almeida, Edmar Fagundes

2011-01-01

In this paper we apply Stochastic Frontier Analysis through a distance function to investigate the impact of firm size on productivity development in electricity distribution. We use a sample of seventeen Brazilian firms from 1998 to 2005 and decompose productivity into technical efficiency, scale efficiency and technical change. Moreover, a further step is to decompose the technical change measurement into several components. The results indicate that firm size is important for industry's productivity, and therefore a key aspect to consider when making decisions that affect the market structure in the electricity distribution industry. (author)

Female Directors and Firm Performance: Evidence from UK Listed Firms

Directory of Open Access Journals (Sweden)

Pananda Pasaribu

2017-08-01

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

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

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...

Interfirm cooperation in life-cycle oreinted environmental management: examples and a conceptual framework

DEFF Research Database (Denmark)

Sharfman, Mark P.; Shaft, Teresa; Anex, Robert

Firms are under pressure to manage their environmental "footprint" throughout the life-cycle of their products. Integral to this is that suppliers and customers become part of the environmental management process through interorganizational collaboration. We present a conceptual framework...

What is the energy policy-planning network and who dominates it?: A network and QCA analysis of leading energy firms and organizations

International Nuclear Information System (INIS)

Crawford, Seth

2012-01-01

This study examines the structure of the energy industry and the energy policy-planning network (EPPN). I use cross-sectional director interlocks from 2002 to examine the social networks amongst a sample of the largest energy firms, between these firms and the EPPN, and to calculate relative network centrality measures for the firms. I then use qualitative comparative analysis (QCA) to isolate specific combinations of energy firm attributes that are associated with network position. I find that the energy industry has several key intra-firm interlocks that link dominant companies to each other and that the industry is well represented on the boards of EPPN organizations. Additionally, several dominant energy firms provide links between ultra-conservative and moderate policy development organizations. Finally, QCA models suggest that firms with many employees, high revenue, and who produce oil are most likely to hold prominent positions in the EPPN—though above average political campaign contributions offer an alternative path into the network. - Highlights: ► Identifies organizations in the Energy Policy-Planning Network (EPPN). ► Examines measures of network association between EPPN organizations and energy firms. ► Isolates key attributes of energy firms who are highly embedded within the EPPN. ► Large, oil producing firms hold key positions in the network. ► EPPN organizations act as a bridge between many firms, linking them indirectly.

Foreign Firms, Domestic Wages

DEFF Research Database (Denmark)

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

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

Internal and external factors on firms? transfer pricing decisions: Insights from organization studies

OpenAIRE

Dan Li; Manuel Portugal Ferreira

2007-01-01

Well understood in economics, accounting, finance, and legal research, transfer pricing has rarely been comprehensively explored in organization management literature. This paper explores some theoretical explanations of transfer pricing within multidivisional firms drawing insights from various organizational theories – primarily institutional theory, transaction cost economics, and social networks – to develop a conceptual model of transfer pricing. This model focuses on the nature of multi...

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

Directory of Open Access Journals (Sweden)

Lakshmi Kalyanaraman

2015-01-01

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

When a Thousand Words Are (Not Enough: An Empirical Study of the Relationship between Firm Performance and Attention to Shareholders

Directory of Open Access Journals (Sweden)

Luciana Carvalho de Mesquita Ferreira

2015-04-01

Full Text Available The aim of this study is to concurrently test the explanatory power of the attention-based view (ABV of the firm and of the resource dependence theory (RDT. We propose a conceptual model of attention to shareholders based on assumptions of both ABV and RDT. We test these hypotheses using a unique dataset, consisting of contentanalyzed data on attention allocation for 313 firms from 24 different countries. Our research findings highlight the complementary nature of the RDT and ABV and add to the literature about attention, providing empirical evidence and theoretical explanation for the scarcely explored relationship between firm performance and organizational attention.

Internationalisation of Chinese firms: A case study of Huawei Technologies Ltd.

OpenAIRE

Huang, Wei

2006-01-01

Since the 21st century Chinese firms have started at a grate pace of expanding their business abroad. This has aroused worldwide speculation and tension. By reporting on qualitative research conducted at Huawei Technologies Ltd., this paper analyses Huawei's corporate profile and its internationalisation strategies employed as a latecomer firm. The key issues examined in this paper are: to what extent does Huawei not follow the traditional internationalisation theory, its core competences and...

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

OpenAIRE

Vermeulen, Patrick; Bosch, Frans; Volberda, Henk

2007-01-01

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

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...

Exploring success and failure in small firm business transfers

NARCIS (Netherlands)

Lex van Teeffelen

2010-01-01

The main purpose of this dissertation is to identify the factors that explain success and failure in SME business transfers. Three key concepts have been defined in the research framework: firm resources, capabilities (of predecessor and successor) and (successor’s) strategic renewal. Altogether

Setting health research priorities using the CHNRI method: IV. Key conceptual advances.

Science.gov (United States)

Rudan, Igor

2016-06-01

Child Health and Nutrition Research Initiative (CHNRI) started as an initiative of the Global Forum for Health Research in Geneva, Switzerland. Its aim was to develop a method that could assist priority setting in health research investments. The first version of the CHNRI method was published in 2007-2008. The aim of this paper was to summarize the history of the development of the CHNRI method and its key conceptual advances. The guiding principle of the CHNRI method is to expose the potential of many competing health research ideas to reduce disease burden and inequities that exist in the population in a feasible and cost-effective way. The CHNRI method introduced three key conceptual advances that led to its increased popularity in comparison to other priority-setting methods and processes. First, it proposed a systematic approach to listing a large number of possible research ideas, using the "4D" framework (description, delivery, development and discovery research) and a well-defined "depth" of proposed research ideas (research instruments, avenues, options and questions). Second, it proposed a systematic approach for discriminating between many proposed research ideas based on a well-defined context and criteria. The five "standard" components of the context are the population of interest, the disease burden of interest, geographic limits, time scale and the preferred style of investing with respect to risk. The five "standard" criteria proposed for prioritization between research ideas are answerability, effectiveness, deliverability, maximum potential for disease burden reduction and the effect on equity. However, both the context and the criteria can be flexibly changed to meet the specific needs of each priority-setting exercise. Third, it facilitated consensus development through measuring collective optimism on each component of each research idea among a larger group of experts using a simple scoring system. This enabled the use of the knowledge of

 Developing a framework for audit quality management in audit firms

OpenAIRE

Darius Vaicekauskas; Jonas Mackevičius

2014-01-01

 Over the last few decades audit quality has been investigated by many scholars, although it still hasn’t been properly conceptualized and lacks one common definition. This may be explained by the constant shifting of audit theory and practice, and the complexity of the audit service. The objective of the paper is to investigate the existing definitions of audit quality, identify its main elements and provide a framework for audit quality management in audit firms. The main contribution of th...

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...

Default Risk and Firm Value of Shipping & Logistics Firms in Korea

Directory of Open Access Journals (Sweden)

Hyun Jung Nam

2017-07-01

Full Text Available As shipping and logistics industry is one of the core industries in Korea, the volume was ranked in the fifth highest in the world. However, shipping and logistics industry of Korea has suffered from default risk since Global Financial Crisis in 2008. This study examines the relationship between the default risk, as measured by the Altman K-Score, and firm value, as measured by the Return on Assets (ROA, of shipping and logistics firms in Korea and compares the impact of default risk on firm value between good financial health firms and poor financial health firms. As the trends of KScores over a ten-year periods, shipping and logistics firms in Korea register weak-to-moderate financial healthy rage. We find that Altman K-Score is significantly linked with firm value and also higher performing firms as measured by the ROA exhibit higher financial health as measured by KScore. Although nine years have been passed since Global Financial Crisis 2008, Korean shipping and logistics industry is still under the financial depression. This study proposes that systematic financial alert system of Korean shipping and logistics industry should be required to decrease default risk reflecting significance of Korean economy.

Building a Conceptual Framework: Philosophy, Definitions, and Procedure

OpenAIRE

Yosef Jabareen

2009-01-01

In this paper the author proposes a new qualitative method for building conceptual frameworks for phenomena that are linked to multidisciplinary bodies of knowledge. First, he redefines the key terms of concept, conceptual framework, and conceptual framework analysis. Concept has some components that define it. A conceptual framework is defined as a network or a “plane” of linked concepts. Conceptual framework analysis offers a procedure of theorization for building conceptual frameworks base...

Adopting De Novo Programming Approach on IC Design Service Firms Resources Integration

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James K. C. Chen

2014-01-01

Full Text Available The semiconductor industry has very important position in computer industry, ICT field, and new electronic technology developing. The IC design service is one of key factor of semiconductor industry development. There are more than 365 IC design service firms have been established around Hsinchu Science Park in Taiwan. Building an efficient planning model for IC design service firm resources integrating is very interest issue. This study aims to construct a planning model for IC design service firm implementation resources integration. This study uses the De Novo programming as an approach of criteria alternative to achieve optimal resource allocation on IC design firm. Results show the IC design service firm should conduct open innovation concept and utilizes design outsourcing obtains cost down and enhance IC design service business performance. This plan model of De Novo programming is not only for IC design service firm and also can apply to the other industrial implementation strategic alliance/integrating resource. This plan model is a universal model for the others industries field.

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

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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.

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

Procurement with specialized firms

NARCIS (Netherlands)

Boone, Jan; Schottmuller, C.

2016-01-01

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

Human capital in family businesses: an exploratory analysis in Spanish firms

Directory of Open Access Journals (Sweden)

Antonio José Carrasco Hernández

2014-07-01

Full Text Available The purpose of this paper is to analyze how family firms identify, develop and protect their human capital. From an exploratoryperspective based on the resource-based view, the key human resource practices are examined in a sample of 433Spanish companies. Specifically, we examine the orientation and idiosyncrasies that family firms confer to the selection andpromotion mechanism, to the training and developing practices, to the design of compensation and executive paymentsand, finally, to the process of succession

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

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Lijun Xia

2008-06-01

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

Firm Traits and Web Based Disclosures in Top Nigerian Firms

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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.

Promoting Balanced Competitiveness Strategies of Firms in Developing Countries

CERN Document Server

Wang, Vivienne

2012-01-01

Since the pioneering work of Joseph Schumpeter (1942), it has been assumed that innovations typically play a key role in firms’ competitiveness.  This assumption has been applied to firms in both developed and developing countries. However, the innovative capacities and business environments of firms in developing countries are fundamentally different from those in developed countries. It stands to reason that innovation and competitiveness models based on developed countries may not apply to developing countries.   In this volume, Vivienne Wang and Elias G. Carayannis apply both theoretical approaches and empirical analysis to explore the dynamics of innovation in developing countries, with a particular emphasis on R&D in manufacturing firms.  In so doing, they present an alternative to Michael Porter’s Competitive Advantage Model—a Competitive Position Model that focuses on incremental and adaptive innovations that are more appropriate than radical innovations for developing countries.  Their ...

Firm size and taxes

OpenAIRE

Chongvilaivan, Aekapol; Jinjarak, Yothin

2010-01-01

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

A Conceptual Model of eLearning Adoption

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Muneer Abbad

2011-05-01

Full Text Available Internet-based learning systems are being used in many universities and firms but their adoption requires a solid understanding of the user acceptance processes. The technology acceptance model (TAM has been used to test the acceptance of various technologies and software within an e-learning context. This research aims to discuss the main factors of a successful e-learning adoption by students. A conceptual research framework of e-learning adoption is proposed based on the TAM model.

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...

How can firms benefit from external and internal crowdsoursing

OpenAIRE

Nijs, Charlotte

2016-01-01

This master thesis shows my research on the ultimate benefits of crowdsourcing and most importantly what the key elements are to develop a beneficial crowdsourcing strategy within the company. I made a clear distinction between the key elements for internal and external crowdsourcing. Furthermore, I thoroughly analysed the possible managerial challenges and struggles in setting up a crowdsourcing program in a firm. Then I determined how these can be avoided. I end with a managerial guideline...

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

DEFF Research Database (Denmark)

Dahlgren, Johan Henrich

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

Female Directors and Firm Performance: Evidence from UK Listed Firms

OpenAIRE

Pasaribu, Pananda

2017-01-01

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

Leverage, Investment, and Firm Growth

OpenAIRE

Larry Lang; Eli Ofek; Rene M. Stulz

1995-01-01

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

Understanding Firms' Inflation Expectations Using the Bank of Canada's Business Outlook Survey

OpenAIRE

Richards, Simon; Verstraete, Matthieu

2016-01-01

Inflation expectations are a key determinant of actual and future inflation and thus matter for the conduct of monetary policy. We study how firms form their inflation expectations using quarterly firm-level data from the Bank of Canada's Business Outlook Survey, spanning the 2001 to 2015 period. The data are aggregated to construct an inflation expectations index. Results based on the index suggest that expectations are not consistent with the rationality assumption but are, still, more comp...

The Politics of Global Value Chains: Import-dependent Firms and EU-Asia Trade Agreements.

Science.gov (United States)

Eckhardt, Jappe; Poletti, Arlo

2016-01-01

In 2006, the European Commission released its Global Europe Communication, in which it announced a shift from a multilateral to a bilateral trade strategy. One of the key pillars of this new strategy was to strengthen the bilateral trade relations with key Asian countries. In contrast to existing analyses that focus on European Union (EU) decision makers' agency, we propose an explanation for this notable shift in the EU's trade policy that stresses the political role of import-dependent firms. In light of the increasing integration of such firms into global value chains, the article argues that a plausible case can be made, both theoretically and empirically, that import-dependent firms had a clear stake in the signing of preferential trade agreements between the EU and Asian countries and that their lobbying efforts significantly affected the EU's decision to start negotiations with South Korea, India and Vietnam.

The Politics of Global Value Chains: Import-dependent Firms and EU–Asia Trade Agreements

Science.gov (United States)

Eckhardt, Jappe; Poletti, Arlo

2015-01-01

In 2006, the European Commission released its Global Europe Communication, in which it announced a shift from a multilateral to a bilateral trade strategy. One of the key pillars of this new strategy was to strengthen the bilateral trade relations with key Asian countries. In contrast to existing analyses that focus on European Union (EU) decision makers’ agency, we propose an explanation for this notable shift in the EU’s trade policy that stresses the political role of import-dependent firms. In light of the increasing integration of such firms into global value chains, the article argues that a plausible case can be made, both theoretically and empirically, that import-dependent firms had a clear stake in the signing of preferential trade agreements between the EU and Asian countries and that their lobbying efforts significantly affected the EU’s decision to start negotiations with South Korea, India and Vietnam. PMID:28018131

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...

When Intra-Firm and Inter-Firm Collaborations Co-Occur

DEFF Research Database (Denmark)

Schleimer, Stephanie Christine; Sculman, Arthur D.

2011-01-01

There is evidence that intra-firm collaboration and inter-firm collaboration are important for new service development (NSD) and new product development (NPD) success. However, evidence of the contributions of each to innovative outcomes is inconsistent. This inconsistency is associated with the ...

Strategic Evolution of Chilean Wine Firms: Vertical Integration and Upgrading in Chile’s Colchagua Valley

OpenAIRE

Robert N. Gwynne

2012-01-01

This paper argues that the favourable export trajectories for Chilean wine to global markets in general and the UK market in particular are partly due to the nature of the insertion of wine producing firms into global value chains. Much of the data in this paper comes from a two-year British Academy research project (2005-07) which examined the impacts of globalization on export-oriented wine firms in Chile’s Colchagua Valley and the record of collaboration between these firms and key purchas...

Determinants of dividend policy: Evidence from listed firms in the African stock exchanges

Directory of Open Access Journals (Sweden)

Nnadi Matthias

2013-01-01

Full Text Available The study demonstrates that much of the existing theoretical literature on dividend policy can be applied to the emerging capital markets of Africa. Using available financial data of listed firms in the 29 stock exchanges in Africa, the study finds similarities in the determinants of dividend policy in African firms with those in most developed economies. In particular, agency costs are found to be the most dominant determinant of dividend policy among African firms. The finding is non-synonymous with emerging capital markets which have a high concentration of private ownership and trading volumes. Agency cost theory may be important in both emerging and developed capital markets but the nature of the agency problem may be different in each case. Other factors such as level of market capitalization, age and growth of firms, as well as profitability also play key roles in the dividend policy of listed African firms.

Conceptualizing childhood health problems using survey data: a comparison of key indicators

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Miller Anton R

2007-12-01

Full Text Available Abstract Background Many definitions are being used to conceptualize child health problems. With survey data, commonly used indicators for identifying children with health problems have included chronic condition checklists, measures of activity limitations, elevated service use, and health utility thresholds. This study compares these different indicators in terms of the prevalence rates elicited, and in terms of how the subgroups identified differ. Methods Secondary data analyses used data from the National Longitudinal Survey of Children and Youth, which surveyed a nationally representative sample of Canadian children (n = 13,790. Descriptive analyses compared healthy children to those with health problems, as classified by any of the key indicators. Additional analyses examined differences between subgroups of children captured by a single indicator and those described as having health problems by multiple indicators. Results This study demonstrates that children captured by any of the indicators had poorer health than healthy children, despite the fact that over half the sample (52.2% was characterized as having a health problem by at least one indicator. Rates of child ill health differed by indicator; 5.6% had an activity limitation, 9.2% exhibited a severe health difficulty, 31.7% reported a chronic condition, and 36.6% had elevated service use. Further, the four key indicators captured different types of children. Indicator groupings differed on child and socio-demographic factors. Compared to children identified by more than one indicator, those identified only by the severe health difficulty indicator displayed more cognitive problems (p Conclusion We provide information useful to researchers when selecting indicators from survey data to identify children with health problems. Researchers and policy makers need to be aware of the impact of such definitions on prevalence rates as well as on the composition of children classified as

The Role Of Good Corporate Governance In Minimizing Earning Management To Increase Value Of Firm

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Mardiani Tanjung

2015-08-01

Full Text Available Abstract The theory of an agency problem describes about the conflict of the agents interests and the principal which influence the value of a firm. The gap of information between them puts an agent in certain places to become more superior than the principal to do earning management. Good corporate governance is as a controlling mechanism and a balancing system in the company in accommodating the interest of the agent and the principal. The purpose of this paper is to present a conceptual model of best corporate governance role earning management the value of the firm by adding a compensation as another variable to minimize earning management. Good corporate governance consists of the three mechanisms which are Institutional shareholders Independent commissioner and executive compensation.

ARE SMALL-FIRM CLUSTERS EMERGENT PHENOMENA? EVIDENCE FROM ZIMBABWE’S SMALL FURNITURE- MANUFACTURING FIRMS

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Godfrey MUPONDA

2014-07-01

Full Text Available The purpose of this study was to explore the reasons behind the rapid growth and apparent dynamism of Zimbabwe’s small-firm industrial clusters. The hypothesis behind the study was that these small-firm clusters are emergent phenomena. The study analysed the capital utilisation techniques of small firms located in a large industrial cluster in order to determine the factors that lead to the collective efficiency of such firms. The study found that, in comparison with large, stock exchange-listed firms, the cluster environment enables the small firm to operate from a relatively small capital base and also to use its capital more efficiently in creating revenues and profits. The individual firm does not have to invest its capital in a large assets base as this is done by a specialised group of firms within the cluster. Thus, the cluster has the characteristics of an emergent phenomenon.

Tax Haven Networks and the Role of the Big 4 Accountancy Firms

OpenAIRE

Jones, Christopher M; Temouri, Yama; Cobham, Alex

2017-01-01

This paper investigates the association between the Big 4 accountancy firms and the extent to which multinational enterprises build, manage and maintain their networks of tax haven subsidiaries. We extend internalisation theory and derive a number of hypotheses that are tested using count models on firm-level data. Our key findings demonstrate that there is a strong correlation and causal link between the size of an MNE’s tax haven network and their use of the Big 4. We therefore argue that p...

A Firm-Specific Analysis of the Exchange-Rate Exposure of Dutch Firms

NARCIS (Netherlands)

A. de Jong (Abe); J. Ligterink; V. Macrae

2002-01-01

textabstractWe examine the relationship between exchange-rate changes and stock returns for a sample of Dutch firms over 1994-1998. We find that over 50% of the firms are significantly exposed to exchange-rate risk. Furthermore, all firms with significant exchange-rate exposure benefit from a

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...

Essays on Family Firms

OpenAIRE

Zhou, Haoyong

2012-01-01

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

Robust Bayesian Experimental Design for Conceptual Model Discrimination

Science.gov (United States)

Pham, H. V.; Tsai, F. T. C.

2015-12-01

A robust Bayesian optimal experimental design under uncertainty is presented to provide firm information for model discrimination, given the least number of pumping wells and observation wells. Firm information is the maximum information of a system can be guaranteed from an experimental design. The design is based on the Box-Hill expected entropy decrease (EED) before and after the experiment design and the Bayesian model averaging (BMA) framework. A max-min programming is introduced to choose the robust design that maximizes the minimal Box-Hill EED subject to that the highest expected posterior model probability satisfies a desired probability threshold. The EED is calculated by the Gauss-Hermite quadrature. The BMA method is used to predict future observations and to quantify future observation uncertainty arising from conceptual and parametric uncertainties in calculating EED. Monte Carlo approach is adopted to quantify the uncertainty in the posterior model probabilities. The optimal experimental design is tested by a synthetic 5-layer anisotropic confined aquifer. Nine conceptual groundwater models are constructed due to uncertain geological architecture and boundary condition. High-performance computing is used to enumerate all possible design solutions in order to identify the most plausible groundwater model. Results highlight the impacts of scedasticity in future observation data as well as uncertainty sources on potential pumping and observation locations.

The cost of a "bad hire:" how search firms can help.

Science.gov (United States)

O'Connor, S J

1991-10-01

What's the key to competitive advantage and total quality management? O'Connor believes it's hiring top-quality people that are a "good fit" with your organization, and he tells how a search firm can help you do just that.

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....

Whom do new firms hire?

DEFF Research Database (Denmark)

Dahl, Michael S.; Klepper, Steven

2015-01-01

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

Innovation Forms and Firm Export Performance: Empirical Evidence from ECA Countries

Directory of Open Access Journals (Sweden)

Andrzej Cieślik

2017-06-01

Full Text Available Objective: The main objective of this paper is to verify empirically the relationship between various forms of innovation and export performance of firms from European and Central Asian (ECA countries. Research Design & Methods: In our empirical approach we refer to the self-selection hypothesis derived from the Melitz (2003 model which proposed the existence of a positive relationship between firm productivity and the probability of exporting. We argue that innovation activities should be regarded as a key element that can increase the level of firm productivity. We focus our analysis on four forms of innovation activities: product, process, marketing, organizational and managerial innovation. The empirical implementation of our analytical framework is based on the probit model, applied to the fifth edition of the BEEPS firm level dataset covering 2011-2014. Findings: Our empirical results indicate that the probability of exporting is positively related to both product and process innovations. The marketing and managerial innovations do not seem to affect positively export performance of firms from ECA countries. Implications & Recommendations: It is recommended to develop innovation supporting mechanisms that would target both product and process innovations rather than other forms of innovation in the ECA countries. Contribution & Value Added: The originality of this work lies in the use of the multi-country firm level dataset that allows distinguishing between various forms of innovations in the ECA countries.

Do Private Firms Outperform SOE Firms after Going Public in China Given their Different Governance Characteristics?

Directory of Open Access Journals (Sweden)

Shenghui Tong

2013-06-01

Full Text Available This study examines the characteristics of board structure that affect Chinese public firm’s financial performance. Using a sample of 871 firms with 699 observations of previously private firms and 1,914 observations of previously state-owned enterprise (SOE firms, we investigate the differences in corporate governance between publicly listed firms that used to be pure private firms before going public and listed firms that used to be SOEs before their initial public offerings (IPOs. Our main finding is that previously private firms outperform previously SOE firms in China after IPOs. In the wake of becoming listed firms, previously SOE firms might be faced with difficulties adjusting to professional business practices to build and extend competitive advantages. In addition, favorable policies and assistance from the government to the SOE firms might have triggered complacency, especially in early years after getting listed. On the other hand, professional savvy and acumen, combined with efficiency and favorable business climate created by the government have probably led the previously private firms to improve their values stronger and faster.

A Scientific Investigation into why Firms Fail: A Model of corporate ...

African Journals Online (AJOL)

A Scientific Investigation into why Firms Fail: A Model of corporate health trajectory. ... to analyse the data of 20 banks, 10 which failed and 10 that is successful. Key words: Corporate collapse, trajectories of failure, bank failure, bank distress, ...

Firm-specific factors and financial performance of firms in the Czech Republic

Directory of Open Access Journals (Sweden)

Pathirawasam Chandrapala

2013-01-01

Full Text Available The objective of this study is to investigate the role of internal factors in generating financial performance of firms in the Czech Republic. The paper examines the impact of firm specific factors on company financial performance of 974 firms in the Czech Republic over the period 2005 to 2008, using data in the Albertina database. Pooled and panel cross-sectional time series techniques are used for the data analysis. Return on Assets (ROA is the dependent variable of the model and eight firm specific factors are introduced as the explanatory variables. Using Return on Assets as the dependent variable, it is established that the firm size, sales growth and capital turnover are having significant positive impact on financial performance of firms. At the same time, debt ratio and inventory reflect significant negative impact on financial performance of firms. Overall explanatory powers of the two models are low and further research is necessary to increase the statistical power of the model. The results from the present study may be very encouraging and useful for managers as well as investors to plan investment and operational activities to achieve profitability objectives more efficiently and effectively. The findings have important managerial implications.

Knowledge adquisition strategies in firm innovation processes

OpenAIRE

Vega Jurado, Jaider; Gutiérrez Gracia, Antonio; Fernández de Lucio, Ignacio

2009-01-01

The recognition of external agents as an important knowledge source to innovation processes means that the firms must face a key decision: generate in-house or acquire externally the required technological knowledge. Owing to its implications, this decision has become a very important topic between academics and practitioners of innovation, promoting the development of a body of theoretical and empirical literature about the factors and motivations which influence it. This paper provides a re...

Sustainable Innovation - Driving Factors in Large Firms

OpenAIRE

Alderin, Clara; Do, Thao

2016-01-01

During recent years, there has been a growing interest in sustainable innovation both in academia and in practice. Our qualitative, multiple case study examines this emerging field in the context of large firms. By doing so, this thesis contributes to the understanding of the concept as well as the underlying factors driving sustainable innovation. Theory highlighted both external and internal factors in firms’ sustainable innovation engagement. The empirical evidence identifies five key fact...

Decarbonising the power sector via technological change – differing contributions from heterogeneous firms

International Nuclear Information System (INIS)

Schmidt, Tobias S.; Schneider, Malte; Hoffmann, Volker H.

2012-01-01

In the power sector, technological change is a key lever to address the decarbonisation needed to avoid dangerous climate change. Policy makers aim to accelerate and redirect technological change by targeting relevant firms via climate policy, e.g., the European Union Emissions Trading System (EU ETS), and climate-relevant technology policies, e.g., feed-in tariffs. Changes in firm's behaviour, i.e., their research and development (R and D) as well as diffusion activities, are at the heart of technological change. However, firms are heterogeneous actors with varying attributes which perceive policy differently. Hence, they can be expected to react very heterogeneously to these new policies. Based on an original dataset of 201 firms, we perform a cluster analysis grouping firms along their R and D and diffusion activity changes. We then compare these clusters with regards to the characteristics of the contained firms. Our analysis results in seven clusters showing very diverse contributions to low-carbon technological change, suggesting potential for policy to become more effective. A comparison of the firms' characteristics allows us to derive indicative recommendations on how to adjust the policy mix in order to induce contributions from most firms in the power sector. - Highlights: ► Firms differ strongly regarding their contribution low-carbon technological change. ► E.g., about 40% of the surveyed firms have not changed their R and D and diffusion activities. ► These observations cast doubt upon the effectiveness of current policy. ► From the findings recommendations for making policy more effective are derived.

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

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

Firm-Specific Learning and the Nature of the Firm

DEFF Research Database (Denmark)

Knudsen, Thorbjørn

2007-01-01

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

Stakeholder Governance, Competition and Firm Value

OpenAIRE

Allen, Franklin; Carletti, Elena; Marquez, Robert

2014-01-01

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

The Impact of Restaurants’ Green Supply Chain Practices on Firm Performance

Directory of Open Access Journals (Sweden)

Jun-Zhi Chiu

2016-01-01

Full Text Available This study investigated crucial green supply chain management (GSCM practice dimensions and firm performance based on restaurants firms in Taiwan. On the basis of a factor analysis, four green supply chain management dimensions were identified: corporate environment policy, green packing, green product, and economic transport. This study investigated crucial GSCM practice dimensions (including corporate environment policy, packaging waste, economic transport, and product recycling, green capability and organizational performance. The results shown: first, green practices in restaurants in Taiwan have an indirect effect on firm performance through green capability; second, when the ability of suppliers of green and green capability is at a higher degree, it will contribute to organizational performance, namely environmental and economic performance. Finally, green practices could be a key driver of green capability and it should be a priority in restaurants.

A new pressure ulcer conceptual framework

Science.gov (United States)

Coleman, Susanne; Nixon, Jane; Keen, Justin; Wilson, Lyn; McGinnis, Elizabeth; Dealey, Carol; Stubbs, Nikki; Farrin, Amanda; Dowding, Dawn; Schols, Jos MGA; Cuddigan, Janet; Berlowitz, Dan; Jude, Edward; Vowden, Peter; Schoonhoven, Lisette; Bader, Dan L; Gefen, Amit; Oomens, Cees WJ; Nelson, E Andrea

2014-01-01

Aim This paper discusses the critical determinants of pressure ulcer development and proposes a new pressure ulcer conceptual framework. Background Recent work to develop and validate a new evidence-based pressure ulcer risk assessment framework was undertaken. This formed part of a Pressure UlceR Programme Of reSEarch (RP-PG-0407-10056), funded by the National Institute for Health Research. The foundation for the risk assessment component incorporated a systematic review and a consensus study that highlighted the need to propose a new conceptual framework. Design Discussion Paper. Data Sources The new conceptual framework links evidence from biomechanical, physiological and epidemiological evidence, through use of data from a systematic review (search conducted March 2010), a consensus study (conducted December 2010–2011) and an international expert group meeting (conducted December 2011). Implications for Nursing A new pressure ulcer conceptual framework incorporating key physiological and biomechanical components and their impact on internal strains, stresses and damage thresholds is proposed. Direct and key indirect causal factors suggested in a theoretical causal pathway are mapped to the physiological and biomechanical components of the framework. The new proposed conceptual framework provides the basis for understanding the critical determinants of pressure ulcer development and has the potential to influence risk assessment guidance and practice. It could also be used to underpin future research to explore the role of individual risk factors conceptually and operationally. Conclusion By integrating existing knowledge from epidemiological, physiological and biomechanical evidence, a theoretical causal pathway and new conceptual framework are proposed with potential implications for practice and research. PMID:24684197

A new pressure ulcer conceptual framework.

Science.gov (United States)

Coleman, Susanne; Nixon, Jane; Keen, Justin; Wilson, Lyn; McGinnis, Elizabeth; Dealey, Carol; Stubbs, Nikki; Farrin, Amanda; Dowding, Dawn; Schols, Jos M G A; Cuddigan, Janet; Berlowitz, Dan; Jude, Edward; Vowden, Peter; Schoonhoven, Lisette; Bader, Dan L; Gefen, Amit; Oomens, Cees W J; Nelson, E Andrea

2014-10-01

This paper discusses the critical determinants of pressure ulcer development and proposes a new pressure ulcer conceptual framework. Recent work to develop and validate a new evidence-based pressure ulcer risk assessment framework was undertaken. This formed part of a Pressure UlceR Programme Of reSEarch (RP-PG-0407-10056), funded by the National Institute for Health Research. The foundation for the risk assessment component incorporated a systematic review and a consensus study that highlighted the need to propose a new conceptual framework. Discussion Paper. The new conceptual framework links evidence from biomechanical, physiological and epidemiological evidence, through use of data from a systematic review (search conducted March 2010), a consensus study (conducted December 2010-2011) and an international expert group meeting (conducted December 2011). A new pressure ulcer conceptual framework incorporating key physiological and biomechanical components and their impact on internal strains, stresses and damage thresholds is proposed. Direct and key indirect causal factors suggested in a theoretical causal pathway are mapped to the physiological and biomechanical components of the framework. The new proposed conceptual framework provides the basis for understanding the critical determinants of pressure ulcer development and has the potential to influence risk assessment guidance and practice. It could also be used to underpin future research to explore the role of individual risk factors conceptually and operationally. By integrating existing knowledge from epidemiological, physiological and biomechanical evidence, a theoretical causal pathway and new conceptual framework are proposed with potential implications for practice and research. © 2014 The Authors. Journal of Advanced Nursing Published by John Wiley & Sons Ltd.

Firm Exit, Technological Progress and Trade

DEFF Research Database (Denmark)

Schröder, Philipp; Sørensen, Allan

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

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.

FROM INDUSTRIAL DISTRICTS TO FIRMS NETWORKS: THE ITALIAN CASE

Directory of Open Access Journals (Sweden)

colantonio emiliano

2014-12-01

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

Empirical research on drive mechanism of firms' environmental management

Institute of Scientific and Technical Information of China (English)

Cao Jingshan; Qin Ying

2007-01-01

Firms'transformation from passive envrionmental management to active environmental management is the key to solving environmental problems. This paper empirically studies the impact of environmental management incentives on environmental management through model construction. Based on the data and reality of China, we can build a concept model of environmental management driving mechanism, and put forward theoretical hypothesis that can be tested: take the 13 environmental management behaviors (EMBs) as substitute of the comprehensiveness, introduce counting variables, and use NB model, Possion Model and Ordered Probit model the regression analysis. The theory and methods brought forward in this paper will provide references for firms in China to further implement voluntary environmental management, and offer advises and countertneasures for leaders to implement environmental management effectively.

Firming Up Inequality

OpenAIRE

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

2015-01-01

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

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

NARCIS (Netherlands)

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

2006-01-01

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

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

NARCIS (Netherlands)

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

2007-01-01

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

A firm-specific exposure analyis of the exchange-rate exposure of Dutch firms

NARCIS (Netherlands)

de Jong, A.; Ligterink, J.; Macrae, V.

2006-01-01

We examine the relationship between exchange-rate changes and stock returns for a sample of Dutch firms over 1994-1998. We find that over 50 per cent of the firms are significantly exposed to exchange-rate risk. Furthermore, all firms with significant exchange-rate exposure benefit from a

COEXISTENCE OF PRIVATE FIRMS AND OPEN SOURCE FIRMS UNDER SPILLOVERS AND CONSUMER BIAS

Directory of Open Access Journals (Sweden)

Murat YILMAZ

2017-12-01

Full Text Available Open source technologies have been an important divergence from the private produc- tion, and some markets have accommodated both open source firms and private firms. We explore the conditions under which such a coexistence of both type of firms can be seen. Through a simple and tractable game theoretical model, with spillovers on the open source production and positive consumer bias for the privately produced good, we analyze the conditions for which, in the equilibrium, a private firm and an open source firm share the market. We find that for large enough consumer bias, the two types cannot coexist, however when the consumer bias is relatively low and the spillover effect is not too strong, then we get a coexistence result.

Leadership drivers of organizational creativity: a path model of creative climate in a professional service firm

OpenAIRE

Sandvik Madsen, Alexander; Espedal, Bjarne; Selart, Marcus

2015-01-01

The purpose of this study was to explore how and under what conditions two different leadership roles are able to facilitate an organizational climate that supports creativity. The study was conducted in a leading professional service firm. The introduced hypotheses were tested by means of a structural equation model. Findings indicate that the leadership roles are conceptually different and that organizational structure is important for leaders’ ability to create a climate ...

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

OpenAIRE

YAMAMOTO Isamu; MATSUURA Toshiyuki

2012-01-01

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

The Scientific Context of Product Portfolio Management at Manufacturing Firms

Directory of Open Access Journals (Sweden)

Alvaro Luiz Neuenfeldt Júnior

2014-12-01

Full Text Available Correct product portfolio management is one of the feasible ways of ensuring competitive sustainability before continued market evolution whereby decisions to maintain or exclude an item from the sales offering drives consequences that impact both internal and external contexts. In alignment with this standpoint, the purpose of this study is to identify and pinpoint the conceptual framework on product portfolio management, particularly in as much as existing applications centred on manufacturing sector firms is concerned, so as to allow for the envisioning of possible opportunities of fostering future investigations on the subject matter. To this effect, theoretical-conceptual research was conducted, starting with the primary definition of how this field of study is explored right through to the bibliometric review of existing publications. The end result was the identification a gap in research that focuses on portfolio management at manufacturing companies, particularly in Brazil where only two studies centred on this theme were found, although the country hosts more than 30 types of organizations of this kind.

Family firm configurations for high performance : The role of entrepreneurship and ambidexterity

NARCIS (Netherlands)

Mat, Hughes; Filser, M.; Harms, Rainer; Kraus, Sascha; Man-Ling, Chang; Cheng-Feng, Cheng

2017-01-01

The performance drivers of family firms have spawned considerable research interest. Almost exclusively this research has relied on independent sets of explanatory variables in linear analyses. These analyses mask the complex interdependencies that are likely to exist among key success factors,

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

DEFF Research Database (Denmark)

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

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

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...

The relationship between strategic type and firm capabilities in Chinese firms

NARCIS (Netherlands)

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

2003-01-01

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

Decomposing Firm-level Sales Variation

DEFF Research Database (Denmark)

Munch, Jakob Roland; Nguyen, Daniel Xuyen

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

Interactive learning for upgrading and growth: Case of Indonesian fishery firms

Directory of Open Access Journals (Sweden)

Erman Aminullah

2017-07-01

Full Text Available This paper intends to reveal the interactive learning for upgrading and growth in Indonesian fishery firms. The main question is how learning and innovation have occurred in Indonesian fishery firms. The study was conducted in two categories of fishery firms: fish processing and aquaculture (shrimp. The interfirm interactions contain knowledge flows and feedback in local production network involving local suppliers and foreign buyers. The study found that the model of interactive learning for upgrading and growth work as a coupling of three loops: the upgrading capability, the growth formation, and limiting elements. The upgrading capability is subject to growth formation, which is determined by limiting elements.  The limiting elements will control the quantity and quality of materials supply that affect inter-firm interaction. The model suggests that the dynamics of upgrading and growth through interactive leraning will continue in a stable manner by easing the constraints of limiting elements through: combating illegal fishing, encouraging interaction with universities, shifting to higher added value products, institutional support for global trading,  preventing shrimp disease, providing infrastructure, business facilities, and regulation information.   Key words: upgrading, growth, limiting elements, knowledge flows, production network, global market.

Cultural Distance and Firm Internationalization : A Meta-Analytical Review and Theoretical Implications

NARCIS (Netherlands)

Beugelsdijk, Sjoerd; Kostova, Tatiana; van Essen, M.; Kunst, Vincent; Spadafora, E.

This paper presents the most comprehensive review and meta-analysis of the literature on cultural distance and firm internationalization to date. We analyze the effects of cultural distance on key strategic decisions throughout the entire process of internationalization. For the preinvestment stage,

Firm-level perspectives on State-Business Relations in Africa

DEFF Research Database (Denmark)

Charles, Goodluck; Jeppesen, Søren; Kamau, Paul

2017-01-01

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

Sustainability Strategy and Management Control Systems in Family Firms. Evidence from a Case Study

Directory of Open Access Journals (Sweden)

Fabio Caputo

2017-06-01

Full Text Available The aim of this paper is to investigate how the integration of new forms of sustainable control systems (SCSs and traditional management control systems (MCSs, and the use of these control systems affect the integration of sustainability within organizational strategy. A qualitative case study based on a longitudinal investigation of an Italian family firm operating in an environment-sensitive context, the intermodal transport industry, has been used to trace the company’s pathway to sustainability integration based on the Gond et al. framework. The paper enriches the Gond et al. conceptualization providing evidence of the external and internal factors relevant in affecting the organization’s pathway towards sustainability integration. To the best of the authors’ knowledge, the present study is the first analysis that investigates the integration of sustainability into organizational strategy in the context of family firms, from the point of view of performance management systems (PMSs.

Family firm research – A review

Directory of Open Access Journals (Sweden)

Qiang Cheng

2014-09-01

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

Genes and quality trait loci (QTLs) associated with firmness in Malus x domestica

KAUST Repository

Marondedze, Claudius; Thomas, Ludivine

2013-01-01

, crunchiness and crispness. Fruit firmness is affected by the inheritance of alleles at multiple loci and their possible interactions with the environment. Identification of these loci is key for the determination of genetic candidate markers that can

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

Global innovation networks and university-firm interactions: an exploratory survey analysis

Directory of Open Access Journals (Sweden)

Gustavo Britto

2015-02-01

Full Text Available The literature on Global Innovation Networks has contributed to identify changes in the innovation activities of multinational corporations. Although university-firm interactions are seen as an important factor for the emergence of GINs, their role has received limited attention. This paper aims to fill this gap in two ways. First, it carries out an exploratory analysis of an original survey dataset, of firms in three industrial sectors from nine developed and developing countries. Second, the paper analyses whether the role of universities in global innovation networks is related to national systems of innovation with varying degrees of maturity. Multiple correspondence analysis and a Probit model are used to establish the relevance of key factors in driving GINs. The results identify distinctive profiles constructed mainly according to firm characteristics, but reflecting country specific patterns of association. The Probit model confirms that internationalization processes and the existence of local interactions substantially increase the probability of interactions with international institutions.

Inference from concave stochastic frontiers and the covariance of firm efficiency measures across firms

International Nuclear Information System (INIS)

Dashti, Imad

2003-01-01

This paper uses a Bayesian stochastic frontier model to obtain confidence intervals on firm efficiency measures of electric utilities rather than the point estimates reported in most previous studies. Results reveal that the stochastic frontier model yields imprecise measures of firm efficiency. However, the application produces much more precise inference on pairwise efficiency comparisons of firms due to a sometimes strong positive covariance of efficiency measures across firms. In addition, we examine the sensitivity to functional form by repeating the analysis for Cobb-Douglas, translog and Fourier frontiers, with and without imposing monotonicity and concavity

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...

How small firms contrast with large firms regarding perceptions, practices, and needs in the U.S

Science.gov (United States)

Urs Buehlmann; Matthew Bumgardner; Michael. Sperber

2013-01-01

As many larger secondary woodworking firms have moved production offshore and been adversely impacted by the recent housing downturn, smaller firms have become important to driving U.S. hardwood demand. This study compared and contrasted small and large firms on a number of factors to help determine the unique characteristics of small firms and to provide insights into...

Production, process investment and the survival of debt financed startup firms

NARCIS (Netherlands)

Tanrisever, F.; Erzurumlu, S.; Joglekar, N.

2012-01-01

Whether to invest in process development that can reduce the unit cost and thereby raise future profits or to conserve cash and reduce the likelihood of bankruptcy is a key trade-off faced by many startup firms that have taken on debt. We explore this trade-off by examining the production quantity

Collaborative Communities of Firms

DEFF Research Database (Denmark)

2011-01-01

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

‘It's almost like taking the sales out of selling’—Towards a conceptualization of value-based selling in business markets

OpenAIRE

Terho Harri; Haas Alexander; Eggert Andreas; Ulaga Wolfgang

2012-01-01

While the creation of superior customer value is regarded as fundamental to a firm's long term survival and growth little is known about the effective implementation of a firm's value orientation at sales force level. As the sales force plays a pivotal role in implementing marketing strategies this study adopts a discovery oriented approach and conceptualizes value based selling as an effective sales approach in business markets. Based on in depth interviews with sales managers in a variety o...

7 CFR 51.893 - Firm.

Science.gov (United States)

2010-01-01

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

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...

A firm's activity in social media and its relationship with corporate reputation, firm size and firm performance

OpenAIRE

Mäkinen, Hanna

2015-01-01

The significance of social media has increased greatly in the past few years, leading companies to increase their social media activity and also increase their interest in knowing whether it is genuinely worth being active on social media, including knowing the potential advantages. This study aims to examine the relationship between social media activity and three variables: reputation, firm size and firm performance. The study analyzes the relationships between the constru...

Selection of workers and firm heterogeneity

NARCIS (Netherlands)

G.W.J. Hendrikse (George)

1992-01-01

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

Incumbent Decisions about Succession Transitions in Family Firms: A Conceptual Model

Directory of Open Access Journals (Sweden)

Britta Boyd

2014-11-01

Full Text Available In the family business literature, succession research has focused on the family member as they enter the leadership role or on the different issues that affect the succession process. Although researchers have acknowledged that succession in family businesses is “punctuated” by decision making events, less attention has been given to understanding how incumbents make decisions about ownership and management transitions. In an effort to continue to understand the succession process it is important to understand how incumbents make decisions about the type of transitions they intend to engage in (i.e., intra-family succession, out of family succession, or no succession. Building on the theory of planned behavior and the socioemotional wealth framework (SEW, this manuscript presents a conceptual framework to understand the factors that influence succession transitions and the role that contextual factors can play in this decision-making process. We present theory driven propositions and discuss the implications for understanding and evaluation of the succession process.

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.

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.

7 CFR 51.1551 - Firm.

Science.gov (United States)

2010-01-01

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

7 CFR 51.696 - Firm.

Science.gov (United States)

2010-01-01

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

7 CFR 51.1353 - Firm.

Science.gov (United States)

2010-01-01

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

7 CFR 51.1006 - Firm.

Science.gov (United States)

2010-01-01

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

7 CFR 51.1824 - Firm.

Science.gov (United States)

2010-01-01

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

7 CFR 51.765 - Firm.

Science.gov (United States)

2010-01-01

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

40 CFR 745.89 - Firm certification.

Science.gov (United States)

2010-07-01

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

Internationalisation and Innovation Intensities of Polish Manufacturing Firms: A Close Nexus?

Directory of Open Access Journals (Sweden)

Tomasz Brodzicki

2017-03-01

Full Text Available Objective: The paper aims at the empirical identification of the nexus between innovation and internationalisation intensities in a sample of Polish manufacturing companies. Research Design & Methods: Using a unique dataset combining micro-level financial data from InfoCredit and results from an extensive survey we follow the approach of Altomonte, Aquilante, Ottaviano & Bekes (2013. We define innovation and internationalisation intensities and analyse the two dimensions disjointly and then simultaneously use formal econometric tools. Findings: Both dimensions are closely and robustly correlated. There is some evidence for the causality going from innovation to internationalisation. Polish manufacturing companies have in general low innovation and internationalisation intensity. Rising innovation intensity allows companies to become more internationalised and in particular, it raises their probability of exporting. Mean characteristics of firms, such as employment, sales or productivity, change along the two examined dimensions. Implications & Recommendations: Our results firmly support the postulates of the heterogeneous firms’ trade theory. The results strongly support the introduction of a new type of economic policy in which internationalisation promotion and innovation promotion are simultaneously targeted at the level of a firm. Contribution & Value Added: We extensively analyse innovation and internationalisation intensities for manufacturing firms from Poland. Using a logit model we show their impact on the likelihood of exporting. We furthermore apply the classification of exporting firms along temporal and geographical dimensions identifying main features and links to the key dimensions.

The impact of firm and industry characteristics on small firms' capital structure

NARCIS (Netherlands)

Degryse, H.A.; de Goeij, P. C.; Kappert, P.

2012-01-01

We study the impact of firm and industry characteristics on small firms’ capital structure, employing a proprietary database containing financial statements of Dutch small and medium-sized enterprises (SMEs) from 2003 to 2005. The firm characteristics suggest that the capital structure decision is

Leverage, Growth Opportunities and Firm Investment: The Case of Manufacturing Firms in China

OpenAIRE

Di Sheng; Shuyang Hou

2014-01-01

This paper examined the impact of financial leverage on investment decisions offirms using the panel data of publicly traded Chinese firms. We collected data for511 manufacturing companies during the period from 2005 to 2013 to do theresearch. The data shows that financial leverage is negatively correlated with afirm’s investment. Moreover, after we categorized the data into two types: 1)high-growth firms and 2) low-growth firms, it demonstrated that such negativecorrelation is significant fo...

7 CFR 51.634 - Firm.

Science.gov (United States)

2010-01-01

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

Human Capital Intensity in Technology-Based Firms Located in Portugal: Do Foreign Multinationals Make a Difference?

OpenAIRE

Ana Teresa Tavares; Aurora A. C. Teixeira

2005-01-01

This paper contributes to the scarce empirical literature on the impact of foreign ownership on human capital intensity. New evidence is provided, based on a comprehensive, large-scale survey of technology-based firms located in Portugal. Using two alternatives measures of human capital (one based on skills, another on education), the key findings are that: (1) foreign ownership directly (and significantly) impacts on firms general human capital (education); (2) foreign ownership indirectly (...

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

OpenAIRE

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

2014-01-01

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

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...

Architecture of firm dynamic capabilities across inter-organizational activities: Explaining innovativeness in the context of nanotechnology

Science.gov (United States)

Petricevic, Olga

In this dissertation I first develop a theoretical framework that explores different components of dynamic capabilities related to firm's boundary-spanning linkages across two different types of inter-organizational activities---alliances and networks. I argue that there are four different subsets of dynamic capabilities simultaneously at work: alliance opportunity-sensing, alliance opportunity-seizing, network opportunity-sensing and network opportunity-seizing. Furthermore, I argue that there are significant interaction effects between these distinctive subsets driving the firm's overall effectiveness in sensing and seizing of novel and innovative external opportunities. In order to explore potential interdependencies and draw distinctions among different dynamic capability subsets I integrate concepts from the two theoretical perspectives that often neglect the emphasis of the other---the dynamic capability view and the social network perspective. I then test the hypothesized relationships in the context of firms actively patenting in nanotechnology. Nanotechnology innovations are multidisciplinary in nature and require search and discovery across multiple inter-organizational, scientific, geographic, industry, or technological domains by a particular firm. The findings offer support for the conceptualizations of dynamic capabilities as consisting of distinct subsets of capabilities for the sensing and the seizing of external new-knowledge opportunities. The findings suggest that firm's innovativeness in an interdisciplinary scientific field such as nanotechnology is the function of the vector of multi-dimensional dynamic capabilities that are context-specific. Furthermore, the findings also suggest that there are inherent trade-offs embedded in different dimensions of dynamic capabilities when deployed across a wide range of inter-organizational relationships.

7 CFR 51.1156 - Firm.

Science.gov (United States)

2010-01-01

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

Firm Leverage and the Financial Crisis

OpenAIRE

Fatih Altunok; Arif Oduncu

2014-01-01

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

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...

TECHNOLOGICAL INNOVATION AND FIRM DEVELOPMENT: THE CASE OF INFOVALLEY DIGITAL AUTOPSY SYSTEM COMMERCIALISATION

Directory of Open Access Journals (Sweden)

Khairul Akmaliah Adham

2008-01-01

Full Text Available Current research emphasises the importance of the successful commercialisation of technology in the development of small firms and the need to address unique contextual dimensions when examining the concept of commercialisation. Guided by product and venture development lifecycle models as well as a structuration perspective, this case study examines how an entrepreneurial venture called Infovalley Life Sciences develops and commercialises the firm's digital human autopsy system despite the fact that the firm operates within an underdeveloped innovation system context. In-depth interviews were conducted with key individuals involved in the innovation and venture development processes. Analysis indicates that the entrepreneur and his or her team co-evolve with their business contexts in creating a favourable nvironment for themselves. This process requires the entrepreneur to integrate his or her broad knowledge of technology applications and the market with his or her team's highly specialised knowledge in the core technology domain; this process results in a successful product launch. This leads to the creation of internal core capability, which supports the commercialisation of new products and thereby contributes to the firm's development and growth. This link between structuration and resource-based perspectives of entrepreneurship augments the conceptualisation of entrepreneurship, technological innovation and firm's development.

Reasons for not changing to activity-based costing: a survey of Irish firms

Directory of Open Access Journals (Sweden)

Martin Quinn

2017-04-01

Full Text Available Purpose – This paper aims to report on a survey of medium and large Irish firms to ascertain reasons for not changing to more advanced costing techniques, namely, activity-based costing (ABC. Developments in technology and recent poor economic conditions would suggest that the technique could be adopted more by firms, as they make increased efforts to keep costs under control. Design/methodology/approach – A survey instrument was used to gather data drawing from the top 1,000 Irish firms. From a useable population of 821 organisations, a response rate of 20.75 per cent was achieved. Findings – Findings show a rate of adoption of ABC of 18.7 per cent, which is lower than previous studies in an Irish context. The level of information technology in firms is not a key factor for non-adoption. Instead, the main reasoning for non-adoption revolve around stable existing costing methods, which firms expressed satisfaction with. Originality/value – This research suggests the adoption of ABC is not necessarily driven by external factors such as technology and economic shocks, at least in the context of Ireland. It also suggests that costing techniques may be deeply embedded within organisations and are less likely to be subject to change.

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.

Building a Conceptual Model of Routines, Capabilities, and Absorptive Capacity Interplay

Directory of Open Access Journals (Sweden)

Ivan Stefanovic

2014-05-01

Full Text Available Researchers have often used constructs such as routines, operational capability, dynamic capability, absorptive capacity, etc., to explain various organizational phenomena, especially a competitive advantage of firms. As a consequence of their frequent use in different contexts, these constructs have become extremely broad and blurred, thus making a void in strategic management literature. In this paper we attempt to bring a sense of holistic perspective on these constructs by briefly reviewing the current state of the research and presenting a conceptual model that provides an explanation for the causal relationships between them. The final section of the paper sheds some light on this topic from the econophysics perspective. Authors hope that findings in this paper may serve as a foundation for other research endeavours related to the topic of how firms achieve competitive advantage and thrive in their environments.

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)....

The Role of Firm Ownership on Internationalization

DEFF Research Database (Denmark)

Hobdari, Bersant; Gregoric, Aleksandra; Sinani, Evis

2011-01-01

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

Developing a framework for audit quality management in audit firms

Directory of Open Access Journals (Sweden)

Darius Vaicekauskas, Jonas Mackevičius

2014-02-01

Full Text Available Over the last few decades audit quality has been investigated by many scholars, although it still hasn’t been properly conceptualized and lacks one common definition. This may be explained by the constant shifting of audit theory and practice, and the complexity of the audit service. The objective of the paper is to investigate the existing definitions of audit quality, identify its main elements and provide a framework for audit quality management in audit firms. The main contribution of the paper is a developed framework for audit quality management, covering both main stakeholders of auditing triangular relationships: third-party users, as well as audit clients. Due to a slump in audit prices, complex competition and a high degree of homogeneity, the authors of the paper focus not only on external users’ perceptions, as the existing large body of literature does, but also stress audit clients’ need for satisfaction in the comprehensive framework. The framework covers various audit firms and audit engagement team factors affecting audit quality and leading to quality audit outputs: an accurate and reliable auditor report and a value adding management letter. Based on the framework presented, recommendations for future audit quality research are provided

Intercultural Competence in International Software R&D Cooperation. Toward a Conceptual Framework

DEFF Research Database (Denmark)

Skaates, Maria Anne

2001-01-01

As part of a research project on cooperation between software development subcontractors from small countries and foreign customers, the dynamics of intercultural competence are being examined. This paper builds a conceptual bridge by developing a definition of organizational intercultural....... It is envisioned that the presented novel framework could be helpful to software developing subcontractors from small national states who already use the competence terminology in discussions of their firms' capabilities and strategies....

Foreign Exchange Exposures of Korean Firms

Directory of Open Access Journals (Sweden)

Sungbin Cho

2011-03-01

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

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.

Gibrat's Law and the Firm Size / Firm Growth Relationship in Italian Services

NARCIS (Netherlands)

R. Piergiovanni; E. Santarelli (Enrico); L. Klomp (Luuk); A.R. Thurik (Roy)

2002-01-01

textabstractSeveral surveys on intra-industry dynamics have recently reached the conclusion from a large body of evidence that Gibrat's Law does not hold, i.e., the main finding is that firm growth decreases with firm size. However, almost all of these studies have been based on manufacturing. In

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.

Foreign Entry and Heterogeneous Growth of Firms

DEFF Research Database (Denmark)

Deng, Paul Duo; Jefferson, Gary H.

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

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

THE OEM - OBM DEBATE: FACTORS INFLUENCING CHIN ESE FIRMS' BRANDING DECISIONS IN THEIR INTERNATIONALISATION PROCESS

Directory of Open Access Journals (Sweden)

Ian Wilson

2013-11-01

Full Text Available A key international marketing decision for many Chinese (and firms from other emerging markets is whether to internationalise their own brands-labelled by the Chinese as OBM (Original or Own Brand Manufacturing-or to be international players by acting as contract manufacturers(labelled by the Chinese as OEM (Original Equipment Manufacturing for foreign brand owners(FBOs. The paper discusses some of the extant research on the advantages and disadvantages of each business model and then focuses on primary research conducted amongst 8 Chinese firms in electronics and textiles and the OEM-OBM decisions they face. In so doing, it discusses some of thefactors influencing such decisions and proposes a framework for reviewing them as firm and environmental circumstances change.

Strategic Evolution of Chilean Wine Firms: Vertical Integration and Upgrading in Chile’s Colchagua Valley

Directory of Open Access Journals (Sweden)

Robert N. Gwynne

2012-01-01

Full Text Available This paper argues that the favourable export trajectories for Chilean wine to global markets in general and the UK market in particular are partly due to the nature of the insertion of wine producing firms into global value chains. Much of the data in this paper comes from a two-year British Academy research project (2005-07 which examined the impacts of globalization on export-oriented wine firms in Chile’s Colchagua Valley and the record of collaboration between these firms and key purchasing companies within the UK market. The paper examines the political economy of value chains in agro-industry, retail concentration in core economy markets and the relevance of convention theory to value chains in the wine sector. The paper then analyses how value chains give context to the nature of upgrading within the Chilean wine sector by focusing on: the strategic example of the lead firm; firm upgrading as a response to the demands of and knowledge flows from retailers; and firm upgrading through the flying winemaker model. The paper will conclude by assessing the relevance of the Chilean experience for other countries wishing to rapidly expand their wine exports, such as those in S. E. Europe.

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....

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

Directory of Open Access Journals (Sweden)

Ali Reza Babakhan

2012-10-01

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

Do Work-Life Balance Policies Increase a Firm's Total Factor Productivity?: Evidence from panel data of Japanese firms (Japanese)

OpenAIRE

YAMAMOTO Isamu; MATSUURA Toshiyuki

2011-01-01

This paper examines how firms' policies for workers' work-life balance (WLB) affect total factor productivity (TFP) in the long run, by using panel data of Japanese firms from the 1990s. Although we observed a positive correlation between firms' WLB policies and their TFP, once controlling for unobserved firm heterogeneity, we found no causal relationship where WLB policies increase a firm's TFP in the long run. Under the following conditions, however, WLB policies would likely improve a firm...

Agility in a small software firm

DEFF Research Database (Denmark)

Schmidt, Thomas; Mathiassen, Lars

2009-01-01

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

Foreign Firms, Domestic Wages

DEFF Research Database (Denmark)

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

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

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

Testing a Conceptual Change Model Framework for Visual Data

Science.gov (United States)

Finson, Kevin D.; Pedersen, Jon E.

2015-01-01

An emergent data analysis technique was employed to test the veracity of a conceptual framework constructed around visual data use and instruction in science classrooms. The framework incorporated all five key components Vosniadou (2007a, 2007b) described as existing in a learner's schema: framework theory, presuppositions, conceptual domains,…

A Conceptualization of Knowledge Governance in Project-based Organizations

DEFF Research Database (Denmark)

Pemsel, Sofia; Wiewiorac, Anna; Müller, Ralf

2014-01-01

This paper conceptualizes and defines knowledge governance (KG) in project-based organizations (PBOs). Two key contributions towards a multi-faceted view of KG and an understanding of KG in PBOs are advanced, as distinguished from knowledge management and organizational learning concepts. The con......This paper conceptualizes and defines knowledge governance (KG) in project-based organizations (PBOs). Two key contributions towards a multi-faceted view of KG and an understanding of KG in PBOs are advanced, as distinguished from knowledge management and organizational learning concepts....... The conceptual framework addresses macro- and micro-level elements of KG and their interaction. Our definition of KG in PBOs highlights the contingent nature of KG processes in relation to their organizational context. These contributions provide a novel platform for understanding KG in PBOs....

From conceptual model to remediation: bioavailability, a key to clean up heavy metal contaminated soils.

Science.gov (United States)

Petruzzelli, Gianniantonio; Pedron, Francesca; Pezzarossa, Beatrice

2013-04-01

that aim to increase the bioavailability of pollutants are used in technologies which remove or destroy the solubilized contaminants. These procedures can increase mass transfer from the absorbed phase by means of sieving in order to decrease the diffusion processes (soil washing), by increasing the temperature (low temperature thermal desorption), or through the addition of chemical additives, such as chelating agents (Phytoextraction Elektrokinetic remediation). Concluding remarks Bioavailability should be a key component of the exposure evaluation in order to develop the conceptual model and to select the technology, in particular when: • only some chemical forms of contaminants are a source of risk for the site; • default assumptions regarding bioavailability are not suitable because of the site's specific characteristics; • the final destination of the site will not be modified at least in the near future.

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...

Location of New Firms

DEFF Research Database (Denmark)

Backman, Mikaela; Karlsson, Charlie

2017-01-01

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

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...

The Impact of Corporate Branding Dimensions on Firm Performance: Evidence from the Zimbabwean Petroleum Industry

Directory of Open Access Journals (Sweden)

Maxwell Sandada

2015-12-01

Full Text Available The study sought to establish the impact of corporate branding dimensions (mission statements, corporate visual identity and identity review on the performance of petroleum firms in Zimbabwe. The study sought to complement other previous studies that were carried out in other different contexts by producing evidence on the same phenomenon from a developing country context. The study adopted a quantitative approach. A self-administered survey was conducted to collect data that was processed by SPSS version 21. Data analysis techniques namely descriptive, correlation and regression were used to analyse the data. This study has shown that in a developing country context, mission statements, corporate visual identity and identity review impact significantly on performance. On the other hand there is no statistical evidence to support that corporate culture and corporate communications are predictors of firm performance. The findings of the study if taken seriously can provide some invaluable insights to managers of petroleum companies in developing countries and other parts of the world about how they can leverage on corporate dimensions to ensure firm performance. The study sought to contribute to the existing body of knowledge on corporate branding by developing a comprehensive conceptual framework of corporate branding and performance, a research area that has not being exhausted in a developing country context.

Investment sensitivity and managerial decision making behaviour of Indian firms

Directory of Open Access Journals (Sweden)

Pankaj Kumar Gupta

2013-01-01

Full Text Available Contemporary models of the financial theory support the proposition that the stock prices should be fundamentally a reflection of the discounted value of earnings. Accordingly the investors and analysts should base their expectations on the expected future cash flows that are logically correlated or have a carry over effect vis-ŕ-vis present stream of cash flows. This logically implies that the managers would have an incentive to manipulate investor’s expectation of future cash flows. The zeal to maximize the firm’s value based on market capitalization is expected to have a detrimental effect on the investment decisions leading to sub optimality. Given the imperfect information structure and market pressures, the Indian firms suffer from mispricing and as such the conventional robust theoretical models of agency conflicts cannot be refuted. This motivates us to examine the interrelation ship between the concerns for valuation and investment sensitivity. We use a sample statistics of selected listed firms that represent the CNX Nifty Index and test for the dependence of the investment behavior of the firm, on the sensitivity of the firms’ share prices to its current cash flow represented by surprise earings. We use the earnings response coefficient (ERC framework proposed by Ball and Brown (1968 for 11 key industries in India. We find that the surpise in accounting earnings announcements is negatively associated with abnormal stock returns and the investment decisions taken by the firms are negatively sensitive to changes in investment opportunities.

Innovative knowledge sharing, supply chain integration and firm performance of Australian manufacturing firms

NARCIS (Netherlands)

Singh, Prakash J.; Power, Damien

2014-01-01

A number of reports show that innovation in Australian manufacturing firms is declining. We propose that better knowledge sharing practices can assist these firms to become more innovative. In this paper, we examine this proposition by empirically testing the relationship between knowledge sharing

Does Labor Diversity Affect Firm Performance?

DEFF Research Database (Denmark)

Pytlikova, Mariola; Pozzoli, Dario; Parrotta, Pierpaolo

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

From Knowledge to Firm Performance: An Empirical analysis of Intellectual Capital Impact in Polish and Dutch Listed Firms

Directory of Open Access Journals (Sweden)

Koen Verduijn

2013-09-01

Full Text Available Purpose: Empirical results about the direct relation of knowledge leading to financial performance at a firm is dispersed. This study aims to examine the impact intellectual capital (IC has on firm performance in Polish and Dutch listed firms.Methodology: Quantitative data is collected based on audited annual reports from the top 20 companies listed at the Warsaw Stock Exchange and Amsterdam Stock Exchange between 2007 and 2011. IC is measured using the VAIC methodology with its individual elements of HCE, SCE, and CEE. Direct relations between ICE, HCE, and SCE and five measures of firm performance are statistically analysed.Results: The results suggest that there is a direct positive relationship between ICE and firm performance of Polish and Dutch listed firms, particularly with ROA, ROE, EP, and to a lesser extent with ATO. Firms listed in Poland provide a stronger positive ICE relation to ROA and ROE where firms listed in the Netherlands provide a stronger positive ICE relation to EP. Regarding individual elements, HCE relates highly positive to ROA, ROE, and EP where SCE finds only partial negative relation with ATO.Implications: Nurturing IC and in particular HC confirms the importance of firm knowledge and employees with right training and other support. Additionally, further clarification regarding SC is required.Originality: This paper presents the first study of the IC relationship with firm performance in Poland as well in the Netherlands. Additionally, the comparison between firms of both countries establishes a novelty in IC research.

Procurement with Specialized Firms

NARCIS (Netherlands)

Boone, J.; Schottmuller, C.

2011-01-01

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

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.

Supervision in Firms

OpenAIRE

Vafaï , Kouroche

2012-01-01

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

Framework for Explaining the Formation of Knowledge Intensive Entrepreneurial Born Global Firm: Entrepreneurial, Strategic and Network Based Constituents

Directory of Open Access Journals (Sweden)

Vytaute Dlugoborskyte

2017-01-01

Full Text Available The nature of the knowledge based entrepreneurship relates to its essential reliance on research and development, deployment and maximization of research and development returns via technology development, and its commercialization via venturing. The paper aims to provide the empirically grounded framework for the analysis of the key determinants leading to the formation of R&D intensive entrepreneurial born global firm with a special focus on entrepreneurial firm and network theories. The unit of analysis chosen is the firm, while the focus is set on the firm behavior and strategic choices rather the business conditions per se. The paper aims to propose the definition of a born global firm as a specific form of entrepreneurial firm that forms while combining entrepreneurial, strategy and network constituents in a specific globally oriented constitution. Method of analysis applied is a multiple case study that was applied in order to build evidence on the interplay of strategy, networks and entrepreneurial constituents in the formation of knowledge intensive entrepreneurial born global firm. The small catching up country perspective adds on dynamics of the constituents as the framework and competitive conditions rapidly change in an uncertain direction.

The impact of relational governance on performance improvement in export manufacturing firms

Directory of Open Access Journals (Sweden)

Usama Awan

2018-05-01

Full Text Available Purpose: This paper seeks to identify the factors affecting social performance improvemens in the Pakistan export manufacturing firms and investigae inter-relationships existing among them. Design/methodology/approach: This study used a cross-sectional survey; data were collected using self-administered survey questionnaire. Using data collected from 239 small- and medium-sized direct exporters manufacturing firms in Pakistan. We used structural equation modelling (SEM approach to test structural model, and mediation analysis was conducted with regression analysis. Findings: The results support that meta-cognitive dimensions of cultural intelligence effect on social performance improvements, while the social performance improvement significant associated with innovation performance improvements. We suggest that cultural intelligence is a key to maintaining a relationship through development better cultural understanding and creating harmony among suppliers and buyers through minimizing the differences and disputes, requires developing social cohesion. Our results reveal that exporting firms need to adapt, reconfigure cultural knowledge and integrate resources into the operations to build learning capability, in turn, they can improve social performance and achieve superior innovation performance. Practical implications: Through the application of cultural intelligence capabilty, a firm could increase its ability to sense cultural differences, seize and adapt globally scattered cultural practices on social issues and allows for the development of unique knowledge resources and capabilities, impact on firm social performance and innovation performance improvements. Originality/value: The study conducted in Pakistan cultural context, which can be extended to other Asian countries. We argue that in a globalising world it is pertinent for exporting firms to have a better understanding of the various facets of cultural when dealing with inter

Merger incentives and the failing firm defense

NARCIS (Netherlands)

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

2014-01-01

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

Application of integrated marketing communications in business family firms in Republic of Srpska

Directory of Open Access Journals (Sweden)

Perić Nenad

2013-01-01

Full Text Available As studies have shown, family businesses are the oldest and most common form of business organization in the world and is a key foundation of the global economy. Experience has shown that the family firm in the Republic of Srpska increasingly opt for hiring professionals for public relations or hiring agency for this work, for resolving crisis situations. The problems they face are, on the one hand, an insufficient budget for the integration of marketing communications and the management of unreason benefit from IMC. On the other hand, sometimes it's already failed separation of family business relationships. Hypotheses to be proven, are associated with insufficient support from family firms by the authorities in the Republic of Srpska, which implies limiting the growth of family firms, and insufficient investment in IMC, regardless, whether family firms have developed an export strategy. Hypothesis has been detected at levels of cognition. The first is proved for the general hypothesis, and then the collateral hypothesis. The sample of 208 family businesses in the Republic of Srpska and statistical analysis methods are descriptive analysis and chi-square test.

Firm Based Trade Models and Turkish Economy

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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.

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

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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.

Strong Firms Lobby, Weak Firms Bribe

DEFF Research Database (Denmark)

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

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

Stakeholder capitalism, corporate governance and firm value

OpenAIRE

Allen, Franklin; Carletti, Elena; Marquez, Robert

2007-01-01

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

Austrian Economics and the Transaction Cost Approach to the Firm

Directory of Open Access Journals (Sweden)

Nicolai J. Foss

2009-10-01

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

Diversified boundaries of the firm

OpenAIRE

Kimura, Koichiro

2012-01-01

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

Market-Oriented Product Innovation in Small Firms

NARCIS (Netherlands)

Verhees, F.J.H.M.

2005-01-01

Description: This thesis deals with product-innovation in small firms. It aims at a better understanding of the determinants of product innovation in small firms, particularly those determinants that are related to the market orientation of small firms. The focus of the study is on small firms that

Code for plant identification (KKS) key in PC version

International Nuclear Information System (INIS)

Pannenbaecker, K.

1991-01-01

The plant identification system (KKS) as a common development of german plant operators, erection firms and also power plant oriented organisations have decisively influenced the technical-organizing activities of planning and erections as operations and maintenance of all kind of power plants. Fundamentals are three key parts, operation, armatures and function keys. Their management and application is executed by a plantidentification-key code in a PC version, which is briefly described in this report. (orig.) [de

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.

Swedish Listed Family Firms and Entrepreneurial Spirit

OpenAIRE

Bjuggren, Per-Olof; Palmberg, Johanna

2008-01-01

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

7 CFR 51.1831 - Fairly firm.

Science.gov (United States)

2010-01-01

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

24 CFR 200.47 - Firm commitments.

Science.gov (United States)

2010-04-01

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

7 CFR 51.774 - Fairly firm.

Science.gov (United States)

2010-01-01

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

7 CFR 51.2843 - Fairly firm.

Science.gov (United States)

2010-01-01

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

7 CFR 51.3204 - Fairly firm.

Science.gov (United States)

2010-01-01

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

7 CFR 51.1167 - Fairly firm.

Science.gov (United States)

2010-01-01

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

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....

The market for firms

DEFF Research Database (Denmark)

Davis, Jerome Dean; Keiding, Hans

2010-01-01

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

THE EFFECT OF THE INTERNAL AUDIT AND FIRM PERFORMANCE: A PROPOSED RESEARCH FRAMEWORK

Directory of Open Access Journals (Sweden)

Ebrahim Mohammed Al-Matari

2014-01-01

Full Text Available This study attempts to propose a structure of the relationships between the internal audits characteristics (IAC; such as professional qualifications of the chief audit executive of the Internal Audit (IA, size, experience, and qualification; and firm performance. The presence of an internal audit department is significant as it is considered as the main element in employing accounting systems and this, in turn, assists in evaluating the department’s work. The internal audit is deemed as the core of business accounting as it is the section that keeps track of all businesses associated with the sector. The internal audit efficiency assists in developing the company’s work because the financial reports present the internal audit department’s quality. In addition, an internal audit is a crucial part of corporate governance structure in an organization and corporate governance (CG covers the activities of oversight conducted by the board of directors and audit committees to ensure credible financial reporting process (Public Oversight Board, 1994. Consistent with previous studies of the importance of internal audit, this study provides comprehensive oversights on the relationship between internal audit and firm performance. The past literature reveals there is a paucity of studies exploring the association between internal audit characteristics (IAC and firm performance whether conceptual or empirical. The main objective of this study is to fill up the gap in the literature and provide an opportunity for future research to deeply to investigate this relationship.

7 CFR 51.705 - Fairly firm.

Science.gov (United States)

2010-01-01

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

7 CFR 51.1012 - Fairly firm.

Science.gov (United States)

2010-01-01

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

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

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

The financing of innovative firms

OpenAIRE

Hall, Bronwyn H.

2009-01-01

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

The innovative behaviour of tourism firms

DEFF Research Database (Denmark)

Sundbo, Jon; Orfila-Sintes, Francina; Sørensen, Flemming

2007-01-01

Tourism firms operate in a competitive sector where innovating is often a condition for survival. This article presents a theoretical framework for understanding tourist firms’ innovative behaviour and innovation systems in tourism. The innovativeness of tourism firms and its determinants...... systems. The article suggests that large size, professionalism, but also entrepreneurship among small tourism firms are important determinants of innovation. Varied innovation networks are another determinant as are supportive innovation systems. These determinants favour Spanish firms, which are more...... are investigated by analysing quantitative as well as qualitative data comparing Spain and Denmark. A taxonomy of tourism firms is suggested and the firms’ characteristics which influence their innovativeness are presented. Additionally, the role of innovation networks is discussed, as is the role of innovation...

The theory of the firm. Vol. 3

DEFF Research Database (Denmark)

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

 Developing a framework for audit quality management in audit firms

Directory of Open Access Journals (Sweden)

Darius Vaicekauskas

2014-04-01

Full Text Available  Over the last few decades audit quality has been investigated by many scholars, although it still hasn’t been properly conceptualized and lacks one common definition. This may be explained by the constant shifting of audit theory and practice, and the complexity of the audit service. The objective of the paper is to investigate the existing definitions of audit quality, identify its main elements and provide a framework for audit quality management in audit firms. The main contribution of the paper is a developed frame-work for audit quality management, covering both main stakeholders of auditing triangular relationships: third-party users, as well as audit clients. Due to a slump in audit prices, complex competition and a high degree of homogeneity, the authors of the paper focus not only on external users’ perceptions, as the existing large body of literature does, but also stress audit clients’ need for satisfaction in the comprehen-sive framework. The framework covers various audit firms and audit engagement team factors affecting audit quality and leading to quality audit outputs: an accurate and reliable auditor report and a value adding management letter. Based on the framework presented, recommendations for future audit quality research are provided.

Research program to develop and validate conceptual models for flow and transport through unsaturated, fractured rock

International Nuclear Information System (INIS)

Glass, R.J.; Tidwell, V.C.

1991-01-01

As part of the Yucca Mountain Project, our research program to develop and validate conceptual models for flow and transport through unsaturated fractured rock integrates fundamental physical experimentation with conceptual model formulation and mathematical modeling. Our research is directed toward developing and validating macroscopic, continuum-based models and supporting effective property models because of their widespread utility within the context of this project. Success relative to the development and validation of effective property models is predicated on a firm understanding of the basic physics governing flow through fractured media, specifically in the areas of unsaturated flow and transport in a single fracture and fracture-matrix interaction. 43 refs

Research program to develop and validate conceptual models for flow and transport through unsaturated, fractured rock

International Nuclear Information System (INIS)

Glass, R.J.; Tidwell, V.C.

1991-09-01

As part of the Yucca Mountain Project, our research program to develop and validate conceptual models for flow and transport through unsaturated fractured rock integrates fundamental physical experimentation with conceptual model formulation and mathematical modeling. Our research is directed toward developing and validating macroscopic, continuum-based models and supporting effective property models because of their widespread utility within the context of this project. Success relative to the development and validation of effective property models is predicted on a firm understanding of the basic physics governing flow through fractured media, specifically in the areas of unsaturated flow and transport in a single fracture and fracture-matrix interaction

Research program to develop and validate conceptual models for flow and transport through unsaturated, fractured rock

International Nuclear Information System (INIS)

Glass, R.J.; Tidwell, V.C.

1991-01-01

As part of the Yucca Mountain Project, our research program to develop and validate conceptual models for flow and transport through unsaturated fractured rock integrates fundamental physical experimentation with conceptual model formulation and mathematical modeling. Our research is directed toward developing and validating macroscopic, continuum-based models and supporting effective property models because of their widespread utility within the context of this project. Success relative to the development and validation of effective property models is predicted on a firm understanding of the basic physics governing flow through fractured media, specifically in the areas of unsaturated flow and transport in a single fracture and fracture-matrix interaction

7 CFR 51.643 - Fairly firm.

Science.gov (United States)

2010-01-01

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

Does Labour Diversity affect Firm Productivity?

DEFF Research Database (Denmark)

Parrotta, Pierpaolo; Pozzoli, Dario; Pytlikova, Mariola

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

Commercialization of Innovations and Firm Performance

DEFF Research Database (Denmark)

Madsen, Erik Strøjer; Smith, Valdemar

The decision on investment in R&D is very important and highly risky for firms' performance and survival in their business. This paper focuses on the commercialization of firms' investment in innovation and how these decisions affect their performance. The study uses a large innovation survey...... of Danish firms holding information on their R&D investment as well as their expenses on marketing which gives knowledge of the commercialization of their innovations. The results suggest a highly significant commercialization of innovation, which means that firms' follows a strategy of investment both...

Industrial environmental practices in Polish Firms

DEFF Research Database (Denmark)

Kræmer, Trine Pipi

, and environment. The five case firms all had a Communist past. The firms represent three different industrial sectors; i.e. textile, energy, and publishing and printing industries. Furthermore, the firms are both private and state owned as well as in the process of privatisation.......The study investigates how discursive developments in Poland interact with industrial environmental practices in five production firms. The analysis of the discursive development covers the period from the end of World War I to the turn of the century. The areas in focus are identity, industry...

21 CFR 7.46 - Firm-initiated recall.

Science.gov (United States)

2010-04-01

... 21 Food and Drugs 1 2010-04-01 2010-04-01 false Firm-initiated recall. 7.46 Section 7.46 Food and....46 Firm-initiated recall. (a) A firm may decide of its own volition and under any circumstances to remove or correct a distributed product. A firm that does so because it believes the product to be...

ANALYSIS OF THE KEY ACTIVITIES OF THE LIFE CYCLE OF KNOWLEDGE MANAGEMENT IN THE UNIVERSITY AND DEVELOPMENT OF THE CONCEPTUAL ARCHITECTURE OF THE KNOWLEDGE MANAGEMENT SYSTEM

Directory of Open Access Journals (Sweden)

Eugene N. Tcheremsina

2013-01-01

Full Text Available This article gives an analysis of the key activities of the life cycle of knowledge management in terms of the features of knowledge management in higher education. Based on the analysis we propose the model of the conceptual architecture of virtual knowledge-space of a university. The proposed model is the basis for the development of kernel intercollegiate virtual knowledge-space, based on cloud technology. 

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

Directory of Open Access Journals (Sweden)

Ilias A. Makris

2016-06-01

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

Web traffic and firm performance

DEFF Research Database (Denmark)

Farooq, Omar; Aguenaou, Samir

2013-01-01

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

Commercialization of Innovations and Firm Performance

DEFF Research Database (Denmark)

Madsen, Erik Strøjer; Smith, Valdemar

The decision on investment in R&D is very important and highly risky for firms' performance and survival in their business. This paper focuses on the commercialization of firms' investment in innovation and how these decisions affect their performance. The study uses a large innovation survey...... of Danish firms holding information on their R&D investment as well as their expenses on marketing which gives knowledge of the commercialization of their innovations. The results suggest a highly significant commercialization of innovation, which means that firms' follows a strategy of investment both...... in innovation and marketing making R&D and marketing complements in their investment decision. However, there is only week evidence for the hypothesis that commercialization of innovations also creates more value for the firms in the short run....

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

DEFF Research Database (Denmark)

Sponholtz, Carina

In this study we are the first to draw on longitudinal matched employer-employee data to study CEO turnover. Using this data we contribute tothe existing literature by examining the e¤ect of previously unstudied in-dividual characteristics on CEO turnover. Additionally, we are able toexamine CEO...... 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-employee...... turnover across a variety of firm types that di¤er with re-spect to the corporate governance issues they face. Our simple methodol-ogy to define CEO turnover results in turnover rates similar to those foundpreviously. Our results indicate that CEO characteristics are an important factor in explaining CEO...

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...

Are Family Firms Better Performers during Financial Crisis?

DEFF Research Database (Denmark)

Zhou, Haoyong

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

Conceptual IT model

Science.gov (United States)

Arnaoudova, Kristina; Stanchev, Peter

2015-11-01

The business processes are the key asset for every organization. The design of the business process models is the foremost concern and target among an organization's functions. Business processes and their proper management are intensely dependent on the performance of software applications and technology solutions. The paper is attempt for definition of new Conceptual model of IT service provider, it could be examined as IT focused Enterprise model, part of Enterprise Architecture (EA) school.

A combined qualitative-quantitative approach for the identification of highly co-creative technology-driven firms

Science.gov (United States)

Milyakov, Hristo; Tanev, Stoyan; Ruskov, Petko

2011-03-01

Value co-creation, is an emerging business and innovation paradigm, however, there is not enough clarity on the distinctive characteristics of value co-creation as compared to more traditional value creation approaches. The present paper summarizes the results from an empirically-derived research study focusing on the development of a systematic procedure for the identification of firms that are active in value co-creation. The study is based on a sample 273 firms that were selected for being representative of the breadth of their value co-creation activities. The results include: i) the identification of the key components of value co-creation based on a research methodology using web search and Principal Component Analysis techniques, and ii) the comparison of two different classification techniques identifying the firms with the highest degree of involvement in value co-creation practices. To the best of our knowledge this is the first study using sophisticated data collection techniques to provide a classification of firms according to the degree of their involvement in value co-creation.

Cultural distance and the process of firm internationalization : A meta-analytical review and theoretical implications

NARCIS (Netherlands)

Beugelsdijk, S.; Kostova, T.; Kunst, Vincent E; Spadafora, Ettore; van Essen, M.

This paper presents the most comprehensive review and meta-analysis of the literature on cultural distance and firm internationalization to date. We analyze the effects of cultural distance on key strategic decisions throughout the entire process of internationalization. For the preinvestment stage,

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

Science.gov (United States)

Kim, Youngsang; Ployhart, Robert E

2014-05-01

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

Do Less Regulated Markets Attract Lower Quality Firms?

DEFF Research Database (Denmark)

Nielsson, Ulf

2013-01-01

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

Survey the Role of Brand in Formation of Customer Loyalty in Financial Services Marketing by the Approach of Small Firms

OpenAIRE

Gholamreza Jandaghi; Alireza Amini; Parvaneh Pirani; Zahra Amini; Hasan Kharazi

2011-01-01

One of elements which have received considerable attention in relationship marketing is customer loyalty. Brand is one of construct contributes to the formation of customer loyalty. Thus this study investigates the relationship between customer loyalty and brand. In this regards, using conceptual model, relationship between satisfaction, value, resistance to change, affect, trust and brand equity with customer loyalty has been hypothesized. Data was collected from 193 firms in 22 regions of t...

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...

Women in Top Management and Firm Performance

DEFF Research Database (Denmark)

Smith, Nina; Smith, Valdemar; Verner, Mette

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

Corporate strategy in turbulent environments: Key roles of the corporate level

OpenAIRE

Caldart, Adrian A.; Ricart, Joan E.

2006-01-01

This paper analyzes the evolution during the period 1986-2002 of the corporate strategy of Lujan, a highly successful car components manufacturer headquartered in Spain, as a way to explore how the corporate level influences the successful evolution of a company exposed to a "turbulent" environment over a long period. We find that the corporate level plays three key roles. First, it drives a firm's evolution by developing a cognitive representation of the firm's competitive landscape. Second,...

Human Capital and Wages in Exporting Firms

DEFF Research Database (Denmark)

Munch, Jakob Roland; Skaksen, Jan Rose

2006-01-01

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

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

Directory of Open Access Journals (Sweden)

Insung Son

2018-03-01

Full Text Available Considering the lifecycle of products, firms are releasing new products through diversified strategic partnerships via the global supply chain. As the uncertainty about the future increases and strategic partnership grows more important, part suppliers are becoming more and more significant in assessing firm value. From the perspective of the signaling effect, this study analyzed the impact of partner volatility (new partner, old partner, revocation partner on firm value in terms of global supply chain management. Regarding both Apple and Samsung which have bisected the premium smart phone market, research results reveal that companies eliminated from partnership selection are found to show negative signaling effect, and the newly selected companies have the stronger innovative capacity and higher signaling effect of higher excess earning rate than that of re-selected companies. The findings indicate that the partner volatility of partner companies work as a reliable investment signal for investors to recognize as an investment indication, contributing to firm value. In particular, it is meaningful to confirm that a new partner’s differentiated R&D capacity is a key factor of new product launching and a significant variable capable of determining a firm’s survival in the smart phone market.

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...

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

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.

Qualitative risk assessment: a conceptual context and three diverse applications

International Nuclear Information System (INIS)

Elsea, K.J.; Conger, D.S.

1992-01-01

Risk is defined as the probability of an occurrence multiplied by the consequences of that occurrence. Such a definition implies a quantitative or at least a mathematical operation. However, qualitative uses of risk have proved useful tools in incident investigation and management decision making. This paper provides a conceptual context for qualitative risk assessment and discusses three efforts at subject organizations [an aerospace firm, a US Department of Energy weapons-related facility, and a commercial nuclear reactor] that have applied qualitative risk techniques for different uses and with different results. A lessons-learned section summarizes and provides future direction

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

Human Capital and Wages in Exporting Firms

DEFF Research Database (Denmark)

Munch, Jakob Roland; Skaksen, Jan Rose

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

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.

Does Firm Innovation Affect Corporate Social Responsibility?

NARCIS (Netherlands)

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

2016-01-01

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

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

OpenAIRE

David Marmet

2004-01-01

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

Do international acquisitions by emerging-economy firms create shareholder value? The case of Indian firms

NARCIS (Netherlands)

Gubbi, Sathyajit R.; Aulakh, Preet S.; Ray, Sougata; Sarkar, M. B.; Chittoor, Raveendra

While overseas acquisitions by emerging-economy firms are gaining increased attention from the business press, our understanding of whether and why this inorganic mode of international expansion creates value to acquirer firms is limited. We argue that international acquisitions facilitate

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“.

Competition Law and the Bounded Rationality of Firms

OpenAIRE

Bhattacharya, Shilpi

2016-01-01

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

Process Ambidexterity for Entrepreneurial Firms

Directory of Open Access Journals (Sweden)

Sonia D. Bot

2012-04-01

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

78 FR 70987 - Proxy Advisory Firm Roundtable

Science.gov (United States)

2013-11-27

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

International taxation and multinational firm location decisions

OpenAIRE

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

2008-01-01

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

Value Creation Logics and Internationalization of Service Firms

DEFF Research Database (Denmark)

Ørberg Jensen, Peter D.; Petersen, Bent

2014-01-01

While mainstream theories in international business and management are founded either explicitly or implicitly on studies of manufacturing firms, prior attempts to develop theory on the internationalization of service firms are sparse and have yet to establish solid and comprehensive frameworks...... on a thorough understanding of the fundamental nature of these firms. We put forward ten propositions concerning the pace of internationalization in service firms and the dominant foreign operation modes. The use of value creation logics can be a useful complement to the conventional approaches to the study...... of service firms’ internationalization. However, the fact that most firms encompass more than one value creation logic complicates the use of firm databases and industry statistics. The study presents a novel theoretical approach and a set of propositions on service firm internationalization founded...

Value Creation Logics and Internationalization of Service Firms

DEFF Research Database (Denmark)

Ørberg Jensen, Peter D.; Petersen, Bent

2014-01-01

be based on a thorough understanding of the fundamental nature of these firms. Design/methodology/approach - Theoretical study. Findings - We put forward propositions concerning the pace of internationalization and the default foreign operation modes in service firms. Research limitations...... implications - We suggest that managers in service firms should consider primarily the nature of the value creation logic(s) in their firms when deciding and designing an internationalization strategy. Originality/value - The study presents a novel theoretical approach and a set of propositions on service firm....../implications - The use of value creation logics can be a useful complement to the conventional approaches to the study of service firms’ internationalization. However, the fact that most firms encompass more than one value creation logic complicates the use of firm databases and industry statistics. Practical...

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

Science.gov (United States)

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

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

13 CFR 315.6 - Firm eligibility for Adjustment Assistance.

Science.gov (United States)

2010-01-01

... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Firm eligibility for Adjustment..., DEPARTMENT OF COMMERCE TRADE ADJUSTMENT ASSISTANCE FOR FIRMS General Provisions § 315.6 Firm eligibility for Adjustment Assistance. (a) Firms participate in the Trade Adjustment Assistance for Firms program in...

The role of organizational structure in readiness for change: A conceptual integration.

Science.gov (United States)

Benzer, Justin K; Charns, Martin P; Hamdan, Sami; Afable, Melissa

2017-02-01

The purpose of this review is to extend extant conceptualizations of readiness for change as an individual-level phenomenon. This review-of-reviews focuses on existing conceptual frameworks from the dissemination, implementation, quality improvement, and organizational transformation literatures in order to integrate theoretical rationales for how organization structure, a key dimension of the organizational context, may impact readiness for change. We propose that the organization structure dimensions of differentiation and integration impact readiness for change at the individual level of analysis by influencing four key concepts of relevance, legitimacy, perceived need for change, and resource allocation. We identify future research directions that focus on these four key concepts.

24 CFR 891.818 - Firm commitment application.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Firm commitment application. 891.818 Section 891.818 Housing and Urban Development Regulations Relating to Housing and Urban... Persons with Disabilities § 891.818 Firm commitment application. The sponsor will submit the firm...

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.

The Internationalisation of Service Firms

DEFF Research Database (Denmark)

Blagoeva, Denitsa Hazarbassanova

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

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

How Firms Make Boundary Decisions

DEFF Research Database (Denmark)

Dobrajska, Magdalena; Billinger, Stephan; Becker, Markus

2014-01-01

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

48 CFR 1852.216-78 - Firm fixed price.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Firm fixed price. 1852.216... 1852.216-78 Firm fixed price. As prescribed in 1816.202-70, insert the following clause: Firm Fixed Price (DEC 1988) The total firm fixed price of this contract is $[Insert the appropriate amount]. (End...

Technological Innovation Capabilities and Firm Performance

OpenAIRE

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

2010-01-01

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

Leverage, monetary policy, and firm investment

OpenAIRE

Charles X. Hu

1999-01-01

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

Sources of Investment Finance in Firms in Slovakia

OpenAIRE

Mikócziová Jana

2010-01-01

Based on results of the EBRD-World Bank “Business Environment and Enterprise Performance Survey” (BEEPS), the paper provides an explanation of why firms in Slovakia finance the most of their new investments with retained earnings, followed by bank debt, trade credit and external equity, as well as why small firms tend to use more retained earnings and less bank debt than medium and large firms. The financing patterns of firms in Slovakia are compared to the average financing patterns of firms...

Conceptualizing Education Policy in Democratic Societies

Science.gov (United States)

Perry, Laura B.

2009-01-01

Although theorists and policy makers agree that schooling should be democratic, what this exactly means often varies. This article establishes a conceptual model for analyzing education policy in democratic societies, based on the key concepts of equality, diversity, participation, choice, and cohesion. The model facilitates the design,…

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...

Firms, Technology and Trade

OpenAIRE

Caldera Sanchez, Aida

2010-01-01

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

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

OpenAIRE

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

2008-01-01

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

The Influence of Ownership on Firm Internationalization: A Synthesis

DEFF Research Database (Denmark)

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

2018-01-01

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)....

Effect of firm variables on patent price

Directory of Open Access Journals (Sweden)

Shyam Sreekumaran Nair

2012-03-01

Full Text Available In this study, using singleton patent auction price data from Ocean Tomo, LLC, we analyse the effect of firm variables on patent price. Patents owned by small firms attract higher price than patents owned by large firms, if they engage in multi-country filings. The patents owned by small firms get cited more than the patents owned by large firms. The patents owned by individual inventors attract a higher price than the patents owned by organisations when multi-country filings are not included. We believe that the lack of resources is preventing individual inventors from engaging in multi-country filings and maximising the revenue from their invention. A larger representative data should be used to replicate the results before generalising it.

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

Cash Holdings and Leverage of German Listed Firms

DEFF Research Database (Denmark)

Rapp, Marc Steffen; Killi, Andreas Maximilian

2016-01-01

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

An Empirical Study on the Behavior of Monthly Stock Prices of Fortune 500 Firms and S&P Smaller Firms: Evidence and Implications

OpenAIRE

Young H. Kim; Edward L. Davis; Charles T. Moses

2014-01-01

This paper revisits a random walk hypothesis by investigating the behavior of monthly stock prices of 461 Fortune 500 firms over 45 years and 599 S&P smaller firms over 10 years. The Box-Jenkins ARIMA models are applied to time series analysis and stock market forecasting to find the monthly stock price behavior. The research findings show that 309 (67.03%) Fortune 500 firms and 449 (74.96%) S&P smaller firms follow a random walk. The monthly stock prices of Fortune 500 firms and S&P firms ...

Green Shipping Practices of Shipping Firms

Directory of Open Access Journals (Sweden)

Young-Tae Chang

2017-05-01

Full Text Available The primary objective of this study is to provide an empirical research using structural equation modeling to identify the factors that motivate shipping firms to adopt green shipping practices (GSP. Furthermore, it also examines if adopting GSP can enhance the shipping firms’ environmental and productivity performance. The findings show that shipping firms are motivated to adopt GSP mostly by industrial norms set by institutionalized associations. They are also motivated by customers’ demand for environmental friendliness and their own strategy to make good image. Unlike our expectation, government regulations and international environmental laws are not significant in influencing shipping firms to adopt GSP. Moreover, adoption of green shipping practices can improve the environmental and productivity performance of the shipping firms.

Within- and Cross-Firm Mobility and Earnings Growth

DEFF Research Database (Denmark)

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

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

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.

Drivers for liquidation and transfer in small firms : Theory of Planned Behavior and firm conditions

NARCIS (Netherlands)

H. Leory; Lex van Teeffelen

2009-01-01

Recently Leroy et al. (2008) tested if the Theory of Planned Behavior (TPB) predicts exit behavior of entrepreneurs: liquidation or transfer. He added the purchasers view to the TPB: firm viability and intangible assets. We retested Leroy et al. hypotheses on a more refined dataset of 136 firms in

The Firm as a Competent Team

OpenAIRE

Eliasson, Gunnar

1988-01-01

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

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

Science.gov (United States)

Gong, Yaping; Zhou, Jing; Chang, Song

2013-01-01

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

Making embeddedness work: social practice institutions in foreign consulting markets

OpenAIRE

Johannes Glückler

2005-01-01

This paper develops conceptual and empirical evidence for the importance of social practice institutions in the internationalisation process of management-consulting firms. Personal trust and reputation rather than price are examined as key mechanisms of foreign market entry and penetration. Empirical case studies in London, Frankfurt, and Madrid produce three findings. First, enduring client relations and client referrals facilitated most foreign firm entries and the majority of local client...

Configuration of technology networks in the wind turbine industry. A comparative study of technology management models in European and Chinese lead firms

DEFF Research Database (Denmark)

Haakonsson, Stine Jessen; Kirkegaard, Julia Kirch

2016-01-01

strategies impact the networks established by the two types of lead firms. Building on the concept of governance developed by the global value chain literature, the article identifies two different types of networks: European lead firms internalise core technology components and keep strong captive......Through a comparative analysis of technology management at the component level by wind turbine manufacturers from Europe and China, this article compares strategies of internalisation of core technology components by European and Chinese lead firms and outlines how different internalisation...... or relational ties with key component suppliers, whereas Chinese lead firms modularise and externalise core technology components, hence adopting a more flexible approach to technology management. The latter model mirrors a strategy of overcoming technological barriers by tapping into knowledge through global...

Does Corruption Increase or Decrease Employment in Firms?

OpenAIRE

Beltrán, Arlette

2015-01-01

This article uses representative data for firms for Latin American firms and show that corruption decreases employment in firms. This result is robust to changes in specification and also consistent with the use of an instrumental variables approach. Corruption appears to negatively impact the growth and wealth in a country, not by introducing labour distortion in firms, but by keeping them small.

The Verdoorn law, firm strategy and firm performance

NARCIS (Netherlands)

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

2009-01-01

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

Structure of conceptual models in the senior operating staff of nuclear power plants

Directory of Open Access Journals (Sweden)

Oboznov A. A.

2017-09-01

Full Text Available Background. The relationships between conceptual model structures and an operator’s professional efficiency are of direct practical importance, particularly in the case of large-scale industrial complexes combining several human-machine systems. A typical example is the power unit of a nuclear power plant (NPP. Objective and methods. The purpose of this study was to explore the conceptual models of senior reactor operators (SROs of NPPs. The study involved 64 men working as SRO at five NPPs in Russia. The methods included: structured interviews, expert estimations, multidimensional scaling (ALSCAL, the K-means clustering algorithm, and frequency analysis. The procedure was as follows: 32 key characteristics of the power unit were defined, including shift operators’ jobs and duties, technical subsystems, types of equipment, and the crucial power unit parameters. The participants were offered a 32×32 matrix for pair-wise estimation of the strength of the links between these key characteristics on a seven-point scale (496 links in total. Results. A general scheme of key characteristics in the conceptual models was defined. is scheme was displayed in the operators regardless of their employment history. Within the scheme, however, two types of conceptual models were identified, which could be distinguished by the relative number of strong links between the key characteristics. With respect to intersystem links including key characteristics of the reactor and turbine NPP departments, this number was significantly higher in models of Type 1 than in those of Type 2. A positive correlation between the number of these links and the professional efficiency indicators was also established. Operators with Type 1 models were able to more predictably represent the power unit operation. Conclusion. The main role in creating predictable and efficient conceptual models was played by strong intersystem links in mental representations of workflow.

Exploring the Key Risk Factors for Application of Cloud Computing in Auditing

Directory of Open Access Journals (Sweden)

Kuang-Hua Hu

2016-08-01

Full Text Available In the cloud computing information technology environment, cloud computing has some advantages such as lower cost, immediate access to hardware resources, lower IT barriers to innovation, higher scalability, etc., but for the financial audit information flow and processing in the cloud system, CPA (Certified Public Accountant firms need special considerations, for example: system problems, information security and other related issues. Auditing cloud computing applications is the future trend in the CPA firms, given this issue is an important factor for them and very few studies have been conducted to investigate this issue; hence this study seeks to explore the key risk factors for the cloud computing and audit considerations. The dimensions/perspectives of the application of cloud computing audit considerations are huge and cover many criteria/factors. These risk factors are becoming increasingly complex, and interdependent. If the dimensions could be established, the mutually influential relations of the dimensions and criteria determined, and the current execution performance established; a prioritized improvement strategy designed could be constructed to use as a reference for CPA firm management decision making; as well as provide CPA firms with a reference for build auditing cloud computing systems. Empirical results show that key risk factors to consider when using cloud computing in auditing are, in order of priority for improvement: Operations (D, Automating user provisioning (C, Technology Risk (B and Protection system (A.

An overview of knowledge management (KM) issues for implementation in consultant firms in Malaysian construction industry

Science.gov (United States)

Othman, Azlan; Ismail, Syuhaida; Yahya, Khairulzan

2017-12-01

In the past few years, there has been a growing interest in treating knowledge as a significant organisational resource. Thus, effective development and implementation of KM requires a foundation in several rich literatures. As a preparation for the competitive industrial nation, KM is an important countenance that should be the point of convergence for the industry players. This paper wishes to draw the attention on the current situation of KM practice, focusing on consultant firms in Malaysian construction industry. Questionnaires were distributed to about 200 respondents working in the industry, with the objective of appraising the KM implementation amongst consultant firms working in construction industry in Malaysia. This paper also gives the overview on KM definition, process, understanding and challenges in construction industry, besides the critical success factor of KM implementation. The literature is restricted on the recent KM study of 17 years research from 2000 to 2017. Finally, this paper proposes the conceptual ideas of relationship between KM process, KM understanding and KM challenges with critical success factor of KM implementation.

Disposition of Human Resource Development Structure in Manufacturing Firms in Malaysia

OpenAIRE

Haslinda Abdullah

2009-01-01

Problem statement: Human Resource Development (HRD) is rapidly gaining importance in manufacturing firms in Malaysia, as there are strong driving forces such as legal, financial and infrastructural support from the Government. This is because the Government believes that investment in human capital is key to the success of the countrys economy. However, this strategy may not be effective without the availability of a properly implemented HRD structure. Approach: The aim of this paper is to ex...

Foreign Currency Borrowing by Small Firms

OpenAIRE

Martin Brown; Steven Ongena; Pinar Yesin

2009-01-01

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

Employee participation in decision-making in architectural firms

Directory of Open Access Journals (Sweden)

Adedapo Oluwatayo

2017-06-01

Full Text Available In this study, the participation of employee architects in decision-making in architectural firms is investigated. This is with a view to identifying the organisational contexts that enhance employee participation in decision making. The impact of such participation on the performances of the firms was also assessed. This study was carried out through a questionnaire survey of employers of architects in Nigeria. In agreement with findings of previous studies, participation of the employees of the architectural firms in the study in decision making is low. Employee participation in decision making in the firms was dependent on the staffing strategy and proportion of junior staff in many cases. The positive impact of employee participation in decision making on firm performance varied with the nature of the decision. This study concludes that there is need for employers in architectural firms to identify the categories of decision that employees should be involved in and to modify their firm contexts to encourage participation where desired.

Governing the quality and safety of healthcare: A conceptual framework.

Science.gov (United States)

Brown, Alison; Dickinson, Helen; Kelaher, Margaret

2018-04-01

Recent research has advanced understanding of corporate governance of healthcare quality, highlighting the need for future empirical work to develop beyond a focus on board composition to a more detailed exploration of the internal workings of governance that influence board engagement and activities. This paper proposes a conceptual framework to guide empirical research examining the work of board and senior management in governing healthcare quality. To generate this framework, existing conceptual approaches and key constructs influencing effectiveness are identified in the governance literature. Commonalities between governance and team effectiveness literature are mapped and suggest a number of key constructs in the team effectiveness literature are applicable to, but not yet fully explored, within the governance literature. From these we develop a healthcare governance conceptual framework encompassing both literatures, that outlines input and mediating factors influencing governance. The mapping process highlights gaps in research related to board dynamics and external influences that require further investigation. Organizing the multiple complex factors that influence governance of healthcare quality in a conceptual framework brings a new perspective to structuring theory-led research and informing future policy initiatives. Copyright © 2018 Elsevier Ltd. All rights reserved.

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

Science.gov (United States)

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

2007-11-01

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

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

OpenAIRE

YAMAMOTO Isamu

2014-01-01

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

How do firms implement impairment tests of goodwill?

DEFF Research Database (Denmark)

Plenborg, Thomas; Vriborg Petersen, Christian

Adopting a survey approach, our study examines how firms implement impairment test of goodwill. We focus on how firms define and measure the recoverable amount of CGU. The survey includes 58 completed questionnaires representing 73% of the firms on the Copenhagen Stock Exchange that recognise goo...... be of interest to a number of parties including firms, financial advisors, auditors, standard setters and users of financial statements....

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…

Conceptual Model of IT Infrastructure Capability and Its Empirical Justification

Institute of Scientific and Technical Information of China (English)

QI Xianfeng; LAN Boxiong; GUO Zhenwei

2008-01-01

Increasing importance has been attached to the value of information technology (IT) infrastructure in today's organizations. The development of efficacious IT infrastructure capability enhances business performance and brings sustainable competitive advantage. This study analyzed the IT infrastructure capability in a holistic way and then presented a concept model of IT capability. IT infrastructure capability was categorized into sharing capability, service capability, and flexibility. This study then empirically tested the model using a set of survey data collected from 145 firms. Three factors emerge from the factor analysis as IT flexibility, IT service capability, and IT sharing capability, which agree with those in the conceptual model built in this study.

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....

Sources of Investment Finance in Firms in Slovakia

Directory of Open Access Journals (Sweden)

Mikócziová Jana

2010-06-01

Full Text Available Based on results of the EBRD-World Bank “Business Environment and Enterprise Performance Survey” (BEEPS, the paper provides an explanation of why firms in Slovakia finance the most of their new investments with retained earnings, followed by bank debt, trade credit and external equity, as well as why small firms tend to use more retained earnings and less bank debt than medium and large firms. The financing patterns of firms in Slovakia are compared to the average financing patterns of firms in selected OECD-countries. Furthermore, measures to stimulate corporate investments and their financing are proposed.

A collaborative computer auditing system under SOA-based conceptual model

Science.gov (United States)

Cong, Qiushi; Huang, Zuoming; Hu, Jibing

2013-03-01

Some of the current challenges of computer auditing are the obstacles to retrieving, converting and translating data from different database schema. During the last few years, there are many data exchange standards under continuous development such as Extensible Business Reporting Language (XBRL). These XML document standards can be used for data exchange among companies, financial institutions, and audit firms. However, for many companies, it is still expensive and time-consuming to translate and provide XML messages with commercial application packages, because it is complicated and laborious to search and transform data from thousands of tables in the ERP databases. How to transfer transaction documents for supporting continuous auditing or real time auditing between audit firms and their client companies is a important topic. In this paper, a collaborative computer auditing system under SOA-based conceptual model is proposed. By utilizing the widely used XML document standards and existing data transformation applications developed by different companies and software venders, we can wrap these application as commercial web services that will be easy implemented under the forthcoming application environments: service-oriented architecture (SOA). Under the SOA environments, the multiagency mechanism will help the maturity and popularity of data assurance service over the Internet. By the wrapping of data transformation components with heterogeneous databases or platforms, it will create new component markets composed by many software vendors and assurance service companies to provide data assurance services for audit firms, regulators or third parties.

International working capital practices of Ghanaian firms

Directory of Open Access Journals (Sweden)

J. Abor

2005-12-01

Full Text Available International working capital management is important to firms frequently operating in the international market. This article investigates the international working capital practices of top Ghanaian firms involved in international trade. The objective of the study is to ascertain the extent to which Ghanaian firms use international working capital management vehicles. The article focuses on two main areas of international working capital management; international cash management and international sales and accounts receivables management. The results of this study reveal low level of use of international working capital vehicles among Ghanaian firms. Recommendations are made in this regard.

Does Innovating Customer Relationship Management Improve Firm Performance?

DEFF Research Database (Denmark)

Geersbro, Jens; Ritter, Thomas

Based on an empirical study of more than 400 B2B firms, this paper investigates the role of innovating a firm’s customer relationship management capability on firm performance. There is a lot of evidence for the positive impact of customer relationship management capability on firm performance....... This paper advances this stream of literature by analyzing whether or not investments into developing a firm’s customer relationship capability increase firm performance. The findings illustrate that although relationship management innovation (defined as new (to the firm) processes, systems and tools...... for relationship management) has a positive correlation with firm performance, the impact is fully mediated by the firms’ relationship management capability. The paper also identifies internal and external drivers of customer relationship management innovation. Not surprisingly customer and competitor dynamics...

Business Model Innovation: An Integrative Conceptual Framework

Directory of Open Access Journals (Sweden)

Bernd Wirtz

2017-01-01

Full Text Available Purpose: The point of departure of this exploratory study is the gap between the increasing importance of business model innovation (BMI in science and management and the limited conceptual assistance available. Therefore, the study identi es and explores scattered BMI insights and deduces them into an integrative framework to enhance our understanding about this phenomenon and to present a helpful guidance for researchers and practitioners. Design/Methodology/Approach: The study identi es BMI insights through a literature-based investigation and consolidates them into an integrative BMI framework that presents the key elements and dimensions of BMI as well as their presumed relationships. Findings: The study enhances our understanding about the key elements and dimensions of BMI, presents further conceptual insights into the BMI phenomenon, supplies implications for science and management, and may serve as a helpful guidance for future research. Practical Implications: The presented framework provides managers with a tool to identify critical BMI issues and can serve as a conceptual BMI guideline. Research limitations: Given the vast amount of academic journals, it is unlikely that every applicable scienti c publication is included in the analysis. The illustrative examples are descriptive in nature, and thus do not provide empirical validity. Several implications for future research are provided. Originality/Value: The study’s main contribution lies in the unifying approach of the dispersed BMI knowledge. Since our understanding of BMI is still limited, this study should provide the necessary insights and conceptual assistance to further develop the concept and guide its practical application.

What is eHealth (6)? Development of a Conceptual Model for eHealth: Qualitative Study with Key Informants.

Science.gov (United States)

Shaw, Tim; McGregor, Deborah; Brunner, Melissa; Keep, Melanie; Janssen, Anna; Barnet, Stewart

2017-10-24

Despite rapid growth in eHealth research, there remains a lack of consistency in defining and using terms related to eHealth. More widely cited definitions provide broad understanding of eHealth but lack sufficient conceptual clarity to operationalize eHealth and enable its implementation in health care practice, research, education, and policy. Definitions that are more detailed are often context or discipline specific, limiting ease of translation of these definitions across the breadth of eHealth perspectives and situations. A conceptual model of eHealth that adequately captures its complexity and potential overlaps is required. This model must also be sufficiently detailed to enable eHealth operationalization and hypothesis testing. This study aimed to develop a conceptual practice-based model of eHealth to support health professionals in applying eHealth to their particular professional or discipline contexts. We conducted semistructured interviews with key informants (N=25) from organizations involved in health care delivery, research, education, practice, governance, and policy to explore their perspectives on and experiences with eHealth. We used purposeful sampling for maximum diversity. Interviews were coded and thematically analyzed for emergent domains. Thematic analyses revealed 3 prominent but overlapping domains of eHealth: (1) health in our hands (using eHealth technologies to monitor, track, and inform health), (2) interacting for health (using digital technologies to enable health communication among practitioners and between health professionals and clients or patients), and (3) data enabling health (collecting, managing, and using health data). These domains formed a model of eHealth that addresses the need for clear definitions and a taxonomy of eHealth while acknowledging the fluidity of this area and the strengths of initiatives that span multiple eHealth domains. This model extends current understanding of eHealth by providing clearly

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,

Taxing the Financially Integrated Multinational Firm

DEFF Research Database (Denmark)

Johannesen, Niels

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

Why do mainland Chinese firms succeed in some sectors and fail in others? A critical view of the Chinese system of innovation

OpenAIRE

Tylecote, Andrew; Cai, [Unknown; Liu, Jing; Jiajia, [Unknown

2010-01-01

Domestically owned firms in mainland China have shown disappointing technological performance in higher-technology sectors. We argue that deficiencies in the systems of finance and corporate governance are largely to blame. Private firms have been starved of financial resources. The key weakness of Chinese State-Owned Enterprises (SOEs), lies in their corporate governance: the officials monitoring them have been 'disengaged', with the consequence that the investment of money and effort, which...

Conceptual design of the National Ignition Facility

International Nuclear Information System (INIS)

Paisner, J.A.; Kumpan, S.A.; Lowdermilk, W.H.; Boyes, J.D.; Sorem, M.

1995-01-01

DOE commissioned a Conceptual Design Report (CDR) for the National Ignition Facility (NIF) in January 1993 as part of a Key Decision Zero (KDO), justification of Mission Need. Motivated by the progress to date by the Inertial Confinement Fusion (ICF) program in meeting the Nova Technical Contract goals established by the National Academy of Sciences in 1989, the Secretary requested a design using a solid-state laser driver operating at the third harmonic (0.35 μm) of neodymium (Nd) glass. The participating ICF laboratories signed a Memorandum of Agreement in August 1993, and established a Project organization, including a technical team from the Lawrence Livermore National Laboratory (LLNL), Los Alamos National Laboratory (LANL), Sandia National Laboratories (SNL), and the Laboratory for Laser Energetics at the University of Rochester. Since then, we completed the NIF conceptual design, based on standard construction at a generic DOE Defense Program's site, and issued a 7,000-page, 27-volume CDR in May 1994.2 Over the course of the conceptual design study, several other key documents were generated, including a Facilities Requirements Document, a Conceptual Design Scope and Plan, a Target Physics Design Document, a Laser Design Cost Basis Document, a Functional Requirements Document, an Experimental Plan for Indirect Drive Ignition, and a Preliminary Hazards Analysis (PHA) Document. DOE used the PHA to categorize the NIF as a low-hazard, non-nuclear facility. On October 21, 1994 the Secretary of Energy issued a Key Decision One (KD1) for the NIF, which approved the Project and authorized DOE to request Office of Management and Budget-approval for congressional line-item FY 1996 NIF funding for preliminary engineering design and for National Environmental Policy Act activities. In addition, the Secretary declared Livermore as the preferred site for constructing the NIF. The Project will cost approximately $1.1 billion and will be completed at the end of FY 2002

Adopting Advertising and Communication Innovations in Small Firms

Directory of Open Access Journals (Sweden)

Fabricia Durieux Zucco

2017-03-01

Full Text Available The adoption of innovation for market penetration of small firms tends to consider the effectiveness of communication channels. In this study we investigate the adoption of communication and advertising innovations, the use of virtual social networks, in a sample of 227 small firms in the Brazilian countryside. We analyse how distinct communication objectives of a firm influence the choice of using virtual social networks to build links between firms and customers.  We also look at the role of paid advertising in virtual social networks. Main results show a trend of such firms to engage in virtual social networks when they are targeting at stronger brand image and when building deeper links through brand information with their public. Firms also tend to use advertising in virtual social networks when intending to raise brand recall from their brand portfolio.

Energy price uncertainty, energy intensity and firm investment

International Nuclear Information System (INIS)

Yoon, Kyung Hwan; Ratti, Ronald A.

2011-01-01

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

Modular Stellarator Reactor conceptual design study

International Nuclear Information System (INIS)

Miller, R.L.; Bathke, C.G.

1983-01-01

A conceptual design study of the Modular Stellarator Reactor is summarized. The physics basis of the approach is elucidated with emphasis on magnetics performance optimization. Key engineering features of the fusion power core are described. Comparisons with an analogous continuous-helical-coil (torsatron) system are made as the basis of a technical and economic assessment

Modular stellarator reactor conceptual design study

International Nuclear Information System (INIS)

Miller, R.L.; Krakowski, R.A.; Bathke, C.G.

1983-01-01

A conceptual design study of the Modular Stellarator Reactor is summarized. The physics basis of the approach is elucidated with emphasis on magnetics performance optimization. Key engineering features of the fusion power core are described. Comparisons with an analogous continuous-helical-coil (torsatron) system are made as the basis of a technical and economic assessment

Consumer Networks and Firm Reputation

DEFF Research Database (Denmark)

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

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

The Variance Composition of Firm Growth Rates

Directory of Open Access Journals (Sweden)

Luiz Artur Ledur Brito

2009-04-01

Full Text Available Firms exhibit a wide variability in growth rates. This can be seen as another manifestation of the fact that firms are different from one another in several respects. This study investigated this variability using the variance components technique previously used to decompose the variance of financial performance. The main source of variation in growth rates, responsible for more than 40% of total variance, corresponds to individual, idiosyncratic firm aspects and not to industry, country, or macroeconomic conditions prevailing in specific years. Firm growth, similar to financial performance, is mostly unique to specific firms and not an industry or country related phenomenon. This finding also justifies using growth as an alternative outcome of superior firm resources and as a complementary dimension of competitive advantage. This also links this research with the resource-based view of strategy. Country was the second source of variation with around 10% of total variance. The analysis was done using the Compustat Global database with 80,320 observations, comprising 13,221 companies in 47 countries, covering the years of 1994 to 2002. It also compared the variance structure of growth to the variance structure of financial performance in the same sample.

International Trade and Macroeconomic Dynamics with Heteroegenous Firms

OpenAIRE

Ghironi, Fabio; Melitz, Marc J

2004-01-01

We develop a stochastic, general equilibrium, two-country model of trade and macroeconomic dynamics. Productivity differs across individual, monopolistically competitive firms in each country. Firms face a sunk entry cost in the domestic market and both fixed and per-unit export costs. Only relatively more productive firms export. Exogenous shocks to aggregate productivity and entry or trade costs induce firms to enter and exit both their domestic and export markets, thus altering the composi...

Efficient Climate Policy with Internationally Mobile Firms

International Nuclear Information System (INIS)

Maestad, O.

2001-01-01

A major concern in the design of an incomplete climate agreement is that firms that use fossil fuels intensively may respond to emission regulations by relocating their plants from cooperating to non-cooperating countries. This paper analyses how the cooperating countries might deal with the issue of firm delocation through emission taxes, trade provisions and a localisation subsidy to mobile firms. It is shown that firms should not be induced to stay in the cooperating countries by lowering emission taxes below the Pigouvian tax rate. Incentives to stay should be given partly through trade provisions and partly through a localisation subsidy. A second best solution without localisation subsidies is also discussed. In that case, the efficient emission tax is lower than the Pigouvian tax rate. Finally, the paper discusses the implications of the first best and the second best policy regimes for the pattern of firm localisation. 19 refs

Efficiency of European Dairy Processing Firms

NARCIS (Netherlands)

Soboh, R.A.M.E.; Oude Lansink, A.G.J.M.; Dijk, van G.

2014-01-01

This paper compares the technical efficiency and production frontier of dairy processing cooperativesand investor owned firms in six major dairy producing European countries. Two parametric produc-tion frontiers are estimated, i.e. for cooperatives and investor owned firms separately, which are

Psychic Distance, Innovation, and Firm Performance

NARCIS (Netherlands)

Azar, Goudarz; Drogendijk, Rian

2014-01-01

Previous research suggests that internationalization improves a firm's ability to innovate, but the effect of internationalizing into specific target markets or destinations on the innovation ability of firms has not been fully investigated. This study examined whether the psychic distance between

Market Microstructure Effects on Firm Default Risk Evaluation

Directory of Open Access Journals (Sweden)

Flavia Barsotti

2016-07-01

Full Text Available Default probability is a fundamental variable determining the credit worthiness of a firm and equity volatility estimation plays a key role in its evaluation. Assuming a structural credit risk modeling approach, we study the impact of choosing different non parametric equity volatility estimators on default probability evaluation, when market microstructure noise is considered. A general stochastic volatility framework with jumps for the underlying asset dynamics is defined inside a Merton-like structural model. To estimate the volatility risk component of a firm we use high-frequency equity data: market microstructure noise is introduced as a direct effect of observing noisy high-frequency equity prices. A Monte Carlo simulation analysis is conducted to (i test the performance of alternative non-parametric equity volatility estimators in their capability of filtering out the microstructure noise and backing out the true unobservable asset volatility; (ii study the effects of different non-parametric estimation techniques on default probability evaluation. The impact of the non-parametric volatility estimators on risk evaluation is not negligible: a sensitivity analysis defined for alternative values of the leverage parameter and average jumps size reveals that the characteristics of the dataset are crucial to determine which is the proper estimator to consider from a credit risk perspective.

Examining the articulation of innovativeness in co-creative firms: a neural network approach

Science.gov (United States)

di Tollo, Giacomo; Tanev, Stoyan

2011-03-01

Value co-creation is an emerging marketing and innovation paradigm describing a broader opening of the firm to its customers by providing them with the opportunity to become active participants in the design and development of personalized products, services and experiences. The aim of the present contribution is to provide preliminary results from a research project focusing on the relationship between value co-creation and the perception of innovation in technology-driven firms. The data was collected in a previous study using web search techniques and factor analysis to identify the key co-creation components and the frequency of firms' online comments about their new products, processes and services. The present work focuses on using an Artificial Neural Network (ANN) approach to understand if the extent of value co-creation activities can be thought of as an indicator of the perception of innovation. The preliminary simulation results indicate the existence of such relationship. The ANN approach does not suggest a specific model but the relationship that was found out between the forecasted values of the perception of innovation and its actual values clearly points in this direction.

The Impact of Workplace Conditions on Firm Performance

NARCIS (Netherlands)

I.S. Buhai (Sebastian); E. Cottini (Elena); N. Westergaard-Nielsen

2008-01-01

textabstractThis paper estimates the impact of work environment health and safety practice on firm performance, and examines which firm-characteristic factors are associated with good work conditions. We use Danish longitudinal register matched employer-employee data, merged with firm business

Financing patterns around the world : Are small firms different?

NARCIS (Netherlands)

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

2008-01-01

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

Debt and Taxes: Evidence from bank-financed unlisted firms

DEFF Research Database (Denmark)

Bartholdy, Jan; Mateus, Cesário

This paper analyzes the capital structure decision of non-listed bank-financed firms using a rich and unique new data set of Portuguese firms. These firms are rarely studied in capital structure contexts and differ from large listed firms in terms of agency and asymmetric information problems...

A long-term analysis of pumped hydro storage to firm wind power

International Nuclear Information System (INIS)

Foley, A.M.; Leahy, P.G.; Li, K.; McKeogh, E.J.; Morrison, A.P.

2015-01-01

Highlights: • This is a long term generation analysis of a high wind power system. • A high CO 2 and fossil fuel price is closest to Ireland’s EU ETS 2020 target. • New pumped storage to firm wind is limited unless strong market costs exist. • Reserve for wind power show that ancillary services are relevant for balancing. - Abstract: Although pumped hydro storage is seen as a strategic key asset by grid operators, financing it is complicated in new liberalised markets. It could be argued that the optimum generation portfolio is now determined by the economic viability of generators based on a short to medium term return on investment. This has meant that capital intensive projects such as pumped hydro storage are less attractive for wholesale electricity companies because the payback periods are too long. In tandem a significant amount of wind power has entered the generation mix, which has resulted in operating and planning integration issues due to wind’s inherent uncertain, varying spatial and temporal nature. These integration issues can be overcome using fast acting gas peaking plant or energy storage. Most analysis of wind power integration using storage to date has used stochastic optimisation for power system balancing or arbitrage modelling to examine techno-economic viability. In this research a deterministic dynamic programming long term generation expansion model is employed to optimise the generation mix, total system costs and total carbon dioxide emissions, and unlike other studies calculates reserve to firm wind power. The key finding of this study is that the incentive to build capital-intensive pumped hydro storage to firm wind power is limited unless exogenous market costs come very strongly into play. Furthermore it was demonstrated that reserve increases with increasing wind power showing the importance of ancillary services in future power systems

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 ...

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.

Market Imperfections and Firm-Sponsored Training

NARCIS (Netherlands)

Picchio, M.; van Ours, J.C.

2010-01-01

Recent human capital theories predict that labor market frictions and product market competition influence firm-sponsored training. Using matched worker-firm data from Dutch manufacturing, our paper empirically assesses the validity of these predictions. We find that a decrease in labor market

The failing firm defence: merger policy and entry

OpenAIRE

Mason, Robin; Weeds, Helen

2003-01-01

This Paper considers the 'failing firm defence'. Under this principle, found in most antitrust jurisdictions, a merger that would otherwise be blocked due to its adverse effect on competition is permitted when the firm to be acquired is a failing firm, and an alternative, less detrimental merger is unavailable. Competition authorities have shown considerable reluctance to accept the failing firm defence, and it has been successfully used in just a handful of cases. The Paper considers the def...

THE CHALLENGE OF GLOBALIZATION FOR LARGE CHINESE FIRMS

OpenAIRE

Peter Nolan; Jin Zhang

2002-01-01

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

Financing Constraints and Firm Growth in Emerging Europe

Directory of Open Access Journals (Sweden)

Leitner Sandra M.

2016-04-01

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

New workplace practices and firm performance in manufacturing:

DEFF Research Database (Denmark)

Pozzoli, Dario; Cristini, Annalisa

Using data from the 2004 Workplace Employee Relations Survey on British establishments and two surveys on manufacturing firms located in the North of Italy, we look at the diffusion of new workplace practices in the two countries and at their impact on the firm's performance. We find that the Ita......Using data from the 2004 Workplace Employee Relations Survey on British establishments and two surveys on manufacturing firms located in the North of Italy, we look at the diffusion of new workplace practices in the two countries and at their impact on the firm's performance. We find...... that the Italian and British samples differ more in terms of composition of the set practices than in terms of overall incidence, but the statistical associations between some of the practices and the firm's performance are robust across countries. The counterfactual analysis shows that could the Italian firms...

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...

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...

CASH HOLDING, GOOD CORPORATE GOVERNANCE AND FIRM VALUE

Directory of Open Access Journals (Sweden)

Prana Wahyu Nisasmara

2016-12-01

Full Text Available This research aims to understand the influence of profitability, capital structure, cash holding, and GCG (Good Corporate Governance on firm value.  The samples of this study were the property sector and real estate companies listed on Indonesia Stock Exchange (IDX in the period of 2008-2013. The data used from the annual report company. The methods of data analysis were multiple regression models and analyzed using IBM SPSS software. The results of this study are profitability has no influence on firm value, capital structure has positive influence on firm value, cash holding has no influence on firm value and GCG a has a positive influence on firm value.

Possible routes to improve adaptive management of firms

NARCIS (Netherlands)

Stuiver, M.; Westerink, J.

2016-01-01

This study explores possible routes to improve the adaptive management of firms and proposes to view firms as social-ecological systems. We conceptualise three possible ways in which firms can frame their relation with the natural environment. The first is impact related: strategies for assessing

Entrepreneurial strategic groups: how clustering helps nascent firms

NARCIS (Netherlands)

Amezcua, A.S.; Ratinho, Tiago

2012-01-01

Our study examines how strategic groups consisting of nascent ventures outperform other firms. An entrepreneurial strategic group is defined as firms that pursue a similar founding strategy, belong to the same industry, and compete in the same geography. We show that firms belonging to an

Pluralism in political corporate social responsibility

NARCIS (Netherlands)

Mäkinen, J.; Kourula, A.

2012-01-01

Within corporate social responsibility (CSR), the exploration of the political role of firms (political CSR) has recently experienced a revival. We review three key periods of political CSR literature—classic, instrumental, and new political CSR—and use the Rawlsian conceptualization of division of

32 CFR 37.1250 - Commercial firm.

Science.gov (United States)

2010-07-01

... 32 National Defense 1 2010-07-01 2010-07-01 false Commercial firm. 37.1250 Section 37.1250... REGULATIONS TECHNOLOGY INVESTMENT AGREEMENTS Definitions of Terms Used in This Part § 37.1250 Commercial firm... does a substantial portion of its business in the commercial marketplace. ...

Knowledge Sharing in Knowledge-Intensive Firms

DEFF Research Database (Denmark)

Gupta, Akshey; Michailova, Snejina

2004-01-01

This paper is a study of the knowledge-sharing difficulties experienced by three departments in a knowledge-intensive firm. The case organization is a global consulting firm that has been on the forefront of knowledge management and has won several knowledge management related international accla...

Firm age, business cycles and aggregate labor market dynamics

OpenAIRE

Sedláček, P.

2011-01-01

Job creation and destruction rates fall with a firm's age, young businesses have higher exit rates, conditional on survival they grow faster and given their employment shares they create relatively more jobs than older firms. In fact, recent studies show that the well established negative relationship between a firm's size and its growth rate vanishes once its age is taken into account. I extend these findings by showing that, compared to old firms, employment growth in young firms is more vo...

Firm-value effects of CSR disclosure and CSR performance

OpenAIRE

Gutsche, Robert; Schulz, Jan-Frederic; Gratwohl, Michael

2017-01-01

We examine in this paper the effects of corporate social responsibility (CSR) disclosure and CSR performance on firm value for S&P 500 firms from 2011 to 2014. We find that CSR disclosure is positively associated with firm value and that the effect of CSR disclosure on firm value is larger than the effect of CSR performance. On average, the overall firm value increase for one index point of Bloomberg's environmental, social, and governance (ESG) Disclosure Score is $260 million, whereas the i...

The effect of corporate culture on firm performance: Evidence from China

OpenAIRE

Hailin Zhao; Haimeng Teng; Qiang Wu

2018-01-01

This study examines whether corporate culture promotion affects firm performance in China in terms of firm market value, firm financial performance and innovation output. We find consistent evidence that corporate culture promotion is negatively related to firm market value, positively related to innovation output and not significantly related to firm financial performance. In addition, the negative effect of corporate culture promotion on firm market value is driven by small firms and firms ...

Do Treasure Islands Create Firm Value?

DEFF Research Database (Denmark)

Choy, Siu Kai; Lai, Tat-kei

On October 11, 2011, a non-governmental organization called ActionAid published a report condemning the FTSE 100 firms for holding an unusually large number of subsidiaries in tax havens. Urging the government to take appropriate actions, the report raised the firms’ costs of holding tax haven...... subsidiaries. After this event, there was a 0.9% drop in cumulative abnormal returns among the non-financial firms (corresponding to about £9 billion in market capitalization), more so for better-governed firms and those with larger shares of subsidiaries in tax havens. We find some evidence that government...

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 ...

Knowledge management in the firm

DEFF Research Database (Denmark)

Rasmussen, Palle; Nielsen, Peter

2011-01-01

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

39 CFR 281.1 - Notification of firm mailers.

Science.gov (United States)

2010-07-01

... 39 Postal Service 1 2010-07-01 2010-07-01 false Notification of firm mailers. 281.1 Section 281.1 Postal Service UNITED STATES POSTAL SERVICE ORGANIZATION AND ADMINISTRATION FIRM MAILINGS DAMAGED OR DESTROYED THROUGH TRANSPORTATION ACCIDENTS OR CATASTROPHES § 281.1 Notification of firm mailers. Whenever...

Determinants of firms' investment behaviour : a multilevel approach

NARCIS (Netherlands)

Farla, K.

2013-01-01

This paper investigates micro and macro determinants of firms' investment behaviour using firm data from 101 developing and emerging economies. A substantial number of firms in our sample does not invest in fixed capital or invests little relative to sales revenue. Using a multilevel probit model we

Examining the articulation of innovativeness in co-creative firms: a neural network approach

DEFF Research Database (Denmark)

di Tollo, Giacomo; Tanev, Stoyan

2010-01-01

Value co-creation is an emerging marketing and innovation paradigm describing a broader opening of the firm to its customers by providing them with the opportunity to become active participants in the design and development of personalized products, services and experiences. The aim of the present....... The preliminary simulation results indicate the existence of such relationship. The ANN approach does not suggest a specific model but the relationship that was found out between the forecasted values of the perception of innovation and its actual values clearly points in this direction....... contribution is to provide preliminary results from a research project focusing on the relationship between value co-creation and the perception of innovation in technology-driven firms. The data was collected in a previous study using web search techniques and factor analysis to identify the key co...

Strategic Resources and Family Firm Performance

NARCIS (Netherlands)

Matser, I.A.

2013-01-01

Most companies in the Netherlands can be labeled as family firms (according to the GEEF definition (Mandle, 2008; Flören et al., 2010). The family firm can be regarded as an open system model comprising three overlapping, interacting, and interdependent subsystems: owners, family, and managers

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...

Gendering dynamic capabilities in micro firms

Directory of Open Access Journals (Sweden)

Yevgen Bogodistov

2017-05-01

Full Text Available Gender issues are well-researched in the general management literature, particular in studies on new ventures. Unfortunately, gender issues have been largely ignored in the dynamic capabilities litera­ture. We address this gap by analyzing the effects of gender diversity on dynamic capabilities among micro firms. We consider the gender of managers and personnel in 124 Ukrainian tourism micro firms. We examine how a manager’s gender affects the firm’s sensing capacities and investigate how it moderates team gender diversity’s impact on sensing capacities. We also investigate how person­nel composition impacts seizing and reconfiguration capacities. We find that female managers have several shortcomings concerning a firm’s sensing capacity but that personnel gender diversity increa­ses this capacity. Team gender diversity has positive effects on a firm’s seizing and reconfiguration abilities. Our study advances research on gender diversity and its impact on firm capabilities and illustrates its relevance for staffing practices in micro firms.

Job Creation by Firms in Denmark

DEFF Research Database (Denmark)

Ibsen, Rikke Falkner; Westergård-Nielsen, Niels

-offs and mergers. The analysis will make it possible to differentiate between net and gross creation of jobs because we can follow each single individual in and out of jobs. We have for Denmark found that size on its own does not have a big impact, but young firms are much more likely to contribute to a positive...... 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.......In this paper we will look at job creation and destruction in firms. We will answer the question if it is the large companies that create jobs, while the smaller companies are contributing much less. Or is it the young companies that create jobs? And who destroys the most jobs? In the crisis...

The structure of a market containing boundedly rational firms

Science.gov (United States)

Ibrahim, Adyda; Zura, Nerda; Saaban, Azizan

2017-11-01

The structure of a market is determined by the number of active firms in it. Over time, this number is affected by the exit of existing firms, called incumbents, and entries of new firms, called entrant. In this paper, we considered a market governed by the Cobb-Douglas utility function such that the demand function is isoelastic. Each firm is assumed to produce a single homogenous product under a constant unit cost. Furthermore, firms are assumed to be boundedly rational in adjusting their outputs at each period. A firm is considered to exit the market if its output is negative. In this paper, the market is assumed to have zero barrier-to-entry. Therefore, the exiting firm can reenter the market if its output is positive again, and new firms can enter the market easily. Based on these assumptions and rules, a mathematical model was developed and numerical simulations were run using Matlab. By setting certain values for the parameters in the model, initial numerical simulations showed that in the long run, the number of firms that manages to survive the market varies between zero to 30. This initial result is consistent with the idea that a zero barrier-to-entry may produce a perfectly competitive market.

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...

Peculiarities Of Financial Management In Family Firms

OpenAIRE

Martin R. W. Hiebl

2012-01-01

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

Working Capital Management and Firm Listing Status

OpenAIRE

Seraina Anagnostopoulou

2012-01-01

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

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....

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.

Organizational change in family firms

OpenAIRE

HENDRIKX, Karolien; VOORDECKERS, Wim; LAMBRECHTS, Frank

2009-01-01

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

The impact of workplace conditions on firm performance

DEFF Research Database (Denmark)

Buhai, Ioan Sebastian; Cottini, Elena; Westergård-Nielsen, Niels Chr.

This paper estimates the impact of work environment health and safety practice on firm performance, and examines which firm-characteristic factors are associated with good work conditions. We use Danish longitudinal register matched employer-employee data, merged with firm business accounts...... and detailed cross-sectional survey data on workplace conditions. This enables us to address typical econometric problems such as omitted variables bias or endogeneity in estimating i) standard production functions augmented with work environment indicators and aggregate employee characteristics and ii) firm...... mean wage regressions on the same explanatory variables. Our findings suggest that improvement in some of the physical dimensions of the work health and safety environment (speci.cally, "internal climate" and "repetitive and strenuous activity") strongly impacts the firm productivity, whereas "internal...

In Search of Legal Foundation for Indonesian Family Firms

Directory of Open Access Journals (Sweden)

Yetty Komalasari Dewi

2016-08-01

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

37 CFR 10.35 - Firm names and letterheads.

Science.gov (United States)

2010-07-01

... 37 Patents, Trademarks, and Copyrights 1 2010-07-01 2010-07-01 false Firm names and letterheads... Office Code of Professional Responsibility § 10.35 Firm names and letterheads. (a) A practitioner shall not use a firm name, letterhead, or other professional designation that violates § 10.31. A trade name...

Modelling firm heterogeneity with spatial 'trends'

Energy Technology Data Exchange (ETDEWEB)

Sarmiento, C. [North Dakota State University, Fargo, ND (United States). Dept. of Agricultural Business & Applied Economics

2004-04-15

The hypothesis underlying this article is that firm heterogeneity can be captured by spatial characteristics of the firm (similar to the inclusion of a time trend in time series models). The hypothesis is examined in the context of modelling electric generation by coal powered plants in the presence of firm heterogeneity.

Insurance and Information : Firms as a Commitment Device

NARCIS (Netherlands)

Bovenberg, A.L.; Teulings, C.N.

2002-01-01

We explore the role of firms in insuring risk-averse workers.As a device that allows workers to commit to the delivery of their output, the firm arises endogenously as an alternative to the spot market if workers are suciently risk averse and the firm can base incentive payments on good

Wage inequality in workers’ cooperatives and conventional firms

Directory of Open Access Journals (Sweden)

Nathalie Magne

2017-12-01

Full Text Available The author evaluates the effects of democratic worker participation on the income distribution within firms. Wage inequality in French workers’ cooperatives (called SCOPs versus traditional firms is measured using the 2001-2012 panel DADS dataset which includes all French firms. The author finds significantly lower inequality in SCOPs, in line with the previous empirical literature. Going into more detail, it appears that inequality is reduced at the top of the distribution and specifically regarding qualification-based inequalities; the gender gap and the advantage of senior workers are not lower in SCOPs. These findings contribute to the literature on Labor-Managed Firms, as well as to the broader debate on rising wage inequality in developed countries.The author evaluates the effects of democratic worker participation on the income distribution within firms. Wage inequality in French workers’ cooperatives (called SCOPs versus traditional firms is measured using the 2001-2012 panel DADS dataset which includes all French firms. The author finds significantly lower inequality in SCOPs, in line with the previous empirical literature. Going into more detail, it appears that inequality is reduced at the top of the distribution and specifically regarding qualification-based inequalities; the gender gap and the advantage of senior workers are not lower in SCOPs. These findings contribute to the literature on Labor-Managed Firms, as well as to the broader debate on rising wage inequality in developed countries.

International taxation and multinational firm decisions

NARCIS (Netherlands)

Barrios, S.; Huizinga, H.P.; Laeven, L.; Nicodeme, G.

2012-01-01

Using a large international firm-level data set, we examine the separate effects of host and additional parent country taxation on the location decisions of multinational firms. Both types of taxation are estimated to have a negative impact on the location of new foreign subsidiaries. The impact of

Identifying High Growth Firms in India

DEFF Research Database (Denmark)

Aggarwal, Aradhna; Sato, Takahiro

Over the past two decades, considerable interest has grown in high growth firms (HGFs). However, the concept of HGFs still remains controversial. One of the most controversial issues is size and age of these firms. The present study argues that the current literature on HGFs may offer little help...

A new approach to firm evaluation

NARCIS (Netherlands)

E.M. Vermeulen (Erik); J. Spronk (Jaap); D. van der Wijst (Nico)

1993-01-01

textabstractIn this paper, a method is developed to evaluate firms on the basis of the risks they face. In accordance with the multi-factor method, risk is represented as a vector of sensitivities to unexpected changes of risk factors. Subsequently, the sensitivities themselves are related to firm

New workplace practices and firm performance:

DEFF Research Database (Denmark)

Cristini, Annalisa; Pozzoli, Dario

Using data from the 2004 Workplace Employee Relations Survey on British establishments and two surveys on manufacturing firms located in the North of Italy, we look at the diffusion of new workplace practices in the two countries and at their impact on the firm's value added. We find...

Building Strong Customer Relationships through Brand Orientation in Small Service Firms: An Empirical Investigation

Directory of Open Access Journals (Sweden)

Miloslava Chovancová

2015-06-01

Full Text Available The purpose of this paper is to empirically examine the relationship between the adoption of a brand orientation strategy and customer relationship performance in a small service firm setting. More specifically, in addition to investigating the direct link between brand orientation and customer relationship performance, we further examine the moderating effects of entrepreneurial orientation and perceived competitive intensity on the empirical link between brand orientation and customer relationship performance. To test the hypothesized relationships in the conceptual framework, 105 usable structured questionnaires were collected from small service firms and the data were further analyzed using a hierarchical, moderated regression analysis. The results affirm the positive link between brand orientation and customer relationship performance. Moreover, entrepreneurial orientation is found to strengthen the brand orientation-customer relationship performance link. However, our results show that competitive intensity does not significantly moderate the brand orientation-customer relationship performance link. Nonetheless, it is highly suggestive that perceived competitive intensity is a direct predictor of customer relationship performance. In terms of the practical significance of the overall research model, the effect size is fairly large (Cohen’s f 2 = 0.33. The research implications and directions for future research are further highlighted in the penultimate section of the paper.

The Cultivation of New Technology-Based Firms and Roles of Venture Capital Firms in Japan

OpenAIRE

Kirihata, Tetsuya

2007-01-01

In this paper, I analyze post-investment activities of venture capital firms (VCFs) based on a questionnaire survey and discuss the issues and challenges of post-investment activities of VCFs with new technology based firms (NTBFs) in Japan. The questionnaire survey reveals that business supports desired by NTBFs can be classified into four groups."business strategies adjustment and motivation", "business advice and networking", "finance and crisis management", and "recruitment assistance". T...

The websites adoption in the Spanish agrifood firms

International Nuclear Information System (INIS)

López-Becerra, E.I.; Arcas-Lario, Francisco Alcon N.

2016-01-01

Currently, the use of websites in the firms of the Spanish agrifood sector has not become widespread despite the possible benefits to be derived from their adequate integration and management within the firms. Among these advantages, the increase in the quality of the services offered and the improvement in the relations with their stakeholders should be highlighted. In this context, the objective of the present work is to determine to what extent websites are used by firms in the agrifood sector of Spain, analysing the background which explains why they are adopted and the consequences of introducing them. To do so, a theoretical framework is posed which allows these factors to be identified, and an empirical study is carried out with Spanish agrifood firms. The results of the work indicate that the adoption of websites will be favoured when the directors of the firm are higher qualified, the firm is bigger in size, the firm’s function is distribution, and when the relative advantage and technology compatibility is perceived, among others. Technology adoption consequences analysis suggests that the benefits of adoption are related with improving the relationships with suppliers, customers, owning partners and, in general, the quality of the services offered by the firm.

The websites adoption in the Spanish agrifood firms

Energy Technology Data Exchange (ETDEWEB)

López-Becerra, E.I.; Arcas-Lario, Francisco Alcon N.

2016-07-01

Currently, the use of websites in the firms of the Spanish agrifood sector has not become widespread despite the possible benefits to be derived from their adequate integration and management within the firms. Among these advantages, the increase in the quality of the services offered and the improvement in the relations with their stakeholders should be highlighted. In this context, the objective of the present work is to determine to what extent websites are used by firms in the agrifood sector of Spain, analysing the background which explains why they are adopted and the consequences of introducing them. To do so, a theoretical framework is posed which allows these factors to be identified, and an empirical study is carried out with Spanish agrifood firms. The results of the work indicate that the adoption of websites will be favoured when the directors of the firm are higher qualified, the firm is bigger in size, the firm’s function is distribution, and when the relative advantage and technology compatibility is perceived, among others. Technology adoption consequences analysis suggests that the benefits of adoption are related with improving the relationships with suppliers, customers, owning partners and, in general, the quality of the services offered by the firm.

The Corporate Governance of Privately Controlled Brazilian Firms

Directory of Open Access Journals (Sweden)

Érica C. R. Gorga

2009-09-01

Full Text Available We provide an overview of the corporate governance practices of Brazilian public companies, based primarily on an extensive 2005 survey of 116 companies. We focus on the 88 responding Brazilian private firms which are not majority owned by the state or a foreign company. We identify areas where Brazilian corporate governance is relatively strong and weak. Board independence is an area of weakness: The boards of most Brazilian private firms are comprised entirely or almost entirely of insiders or representatives of the controlling family or group. Many firms have zero independent directors. At the same time, minority shareholders have legal rights to representation on the boards of many firms, and this representation is reasonably common. Financial disclosure lags behind world standards. Only a minority of firms provide a statement of cash flows or consolidated financial statements. However, many provide English language financial statements, and an English language version of their website. Audit committees are uncommon, but many Brazilian firms use an alternate approach to ensuring financial statement accuracy – establishing a fiscal board. A minority of firms provide takeout rights to minority shareholders on a sale of control. Controlling shareholders often use shareholders agreements to ensure control.

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...

Changes of firm size distribution: The case of Korea

Science.gov (United States)

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

2011-01-01

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

The effects of human resource practices on firm growth

Directory of Open Access Journals (Sweden)

Vlachos, I.

2009-01-01

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

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...

The incorporation gene of tomato fruit firmness (Lycopersicon esculentum Mill.

Directory of Open Access Journals (Sweden)

Zdravković Jasmina

2009-01-01

Full Text Available Tomato fruit firmness is a polygenetic trait and depends on firmness components pericarp thickness, firmness of epidermis and firmness of flash. The accumulation of favourable traits ratio for each component (towards the increase of expression the fruit firmness can be increased. This paper deals with aspects of increasing fruit firmness by increasing firmness of epidermis and thickness of pericarp. By using genotypes with rin (ripening inhibitor gene, we were able to accomplish great firmness of fruits, especially firmness of flash. The expression of these traits cause the asynchronization of maturing process so the fruits do not over mature or soften. Genetic effects have been evaluated by researching the average values of fruit firmness in six diallel parent lines (D-150, S-49, S-35, H-52, Kg-z and SP-109 and progeny (P1, P2, F1, F2, BC1 and BC2 by applying additive dominant model with three and six parameters (Mather and Jinks, 1982. Mean values of fruit firmness for parents and progeny were significantly different. Firmness of fruits is a trait influenced first of all by additive gene since they were found in all researched combinations. Epystatic gene effect was important in inheriting process for all three two-gene interactions. The stabile duplicate type of epystsase was found, which in this case reduces the unfavourable effects of dominant genes of parents with soft fruits. .

48 CFR 1019.202-70-7 - Mentor firms.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Mentor firms. 1019.202-70... SOCIOECONOMIC PROGRAMS SMALL BUSINESS PROGRAMS Policies 1019.202-70-7 Mentor firms. A mentor firm may be either... developmental assistance to enhance the capabilities of protégés to perform as subcontractors. Mentors will be...

The weighted average cost of capital over the lifecycle of the firm: Is the overinvestment problem of mature firms intensified by a higher WACC?

Directory of Open Access Journals (Sweden)

Carlos S. Garcia

2016-08-01

Full Text Available Firm lifecycle theory predicts that the Weighted Average Cost of Capital (WACC will tend to fall over the lifecycle of the firm (Mueller, 2003, p. 80-81. However, given that previous research finds that corporate governance deteriorates as firms get older (Mueller and Yun, 1998; Saravia, 2014 there is good reason to suspect that the opposite could be the case, that is, that the WACC is higher for older firms. Since our literature review indicates that no direct tests to clarify this question have been carried out up till now, this paper aims to fill the gap by testing this prediction empirically. Our findings support the proposition that the WACC of younger firms is higher than that of mature firms. Thus, we find that the mature firm overinvestment problem is not intensified by a higher cost of capital, on the contrary, our results suggest that mature firms manage to invest in negative net present value projects even though they have access to cheaper capital. This finding sheds new light on the magnitude of the corporate governance problems found in mature firms.

Employees choice of knowledge sharing tools in a global firm : a study of MNC employee's choice of formal or informal knowledge sharing tools

OpenAIRE

Loly, Linn Karine; Breilid, Olav Aleksander Simensen

2014-01-01

Masteroppgave (MSc) in Master of Science in International Management, Handelshøyskolen BI, 2014 Due to changes in the competitive landscape and increasing globalisation, resources and the most effective use of these has become the key to competitive advantage for most multinational firms. As employees are in the possession of unique knowledge and expertise, employees have become an important resource for firms, and thus efficient transfer of knowledge to other part of the or...

Do Firms Go Public to Raise Capital?

OpenAIRE

Woojin Kim; Michael Weisbach

2005-01-01

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

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...

The Power Asymmetry and Non-Competitive Behaviour of Firms at Consumer Markets

Directory of Open Access Journals (Sweden)

Ulyana Vladimirovna Karagezyan

2016-03-01

Full Text Available The specific features of formation of the market economy in Russia caused not only development of the competitive environment, but also fixing of the model of noncompetitive behavior of enterprises. In a contradiction of the economic theory in which one of necessary conditions of “survival” of the companies is improvement of quality of goods, in the real economy consumers often face acquisition of low-quality goods. This article is devoted to an urgent problem of studying the model of noncompetitive behavior of firms in Russia. The purpose of this study is the explanation of the reasons of noncompetitive behavior of the enterprises in the Russian markets. On the basis of data of Federal service on supervision in the sphere of consumer protection, the dominating violations, as well as the markets most subjected to noncompetitive behavior of firms were revealed. Key characteristics of noncompetitive behavior are decline in the quality of production, violation of the consumer rights, using illegal tactics. As a result of this analysis we have made the following conclusions: violations of the rights of the consumer are expressed in realization of low-quality and unsafe products, refusal of providing necessary information on terms of transaction, imposing of additional services. The reasons of noncompetitive behavior of the companies include prevailing of the sovereignty of the producer over the consumer’s sovereignty; accumulation of the power of firms in a services sector and retail trade, a manipulative information and existence of information asymmetry between consumers and the companies. Overcoming the noncompetitive behavior of firm will become possible when power and information asymmetry decreases at the consumer markets.

Can Bayesian Belief Networks help tackling conceptual model uncertainties in contaminated site risk assessment?

DEFF Research Database (Denmark)

Troldborg, Mads; Thomsen, Nanna Isbak; McKnight, Ursula S.

different conceptual models may describe the same contaminated site equally well. In many cases, conceptual model uncertainty has been shown to be one of the dominant sources for uncertainty and is therefore essential to account for when quantifying uncertainties in risk assessments. We present here......A key component in risk assessment of contaminated sites is the formulation of a conceptual site model. The conceptual model is a simplified representation of reality and forms the basis for the mathematical modelling of contaminant fate and transport at the site. A conceptual model should...... a Bayesian Belief Network (BBN) approach for evaluating the uncertainty in risk assessment of groundwater contamination from contaminated sites. The approach accounts for conceptual model uncertainty by considering multiple conceptual models, each of which represents an alternative interpretation of the site...

Four Essays on Technology Licensing and Firm Innovation

DEFF Research Database (Denmark)

Moreira, Solon

&D strategies. On the supply side, the existing literature has been focused on understanding how technology licensing can be used by firms as a mechanism to recover investments in innovative activities and to foster learning opportunities. On the demand side, it has been shown that licensing is an important...... source that firms can tap into to feed their internal needs for innovative knowledge. While several studies have examined technology licensing through the lens of the licensor, research on how firms rely on licensing contracts to acquire knowledge and improve their innovation performance still leaves......Licensing contracts represent one of the most widely used mechanisms to exchange technologies and transfer know-how between firms. Due to the opportunities that licensing creates for firms operating on both sides of the markets for technology, it has increasingly become an integral part of firms’ R...

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....

Transparency report delay and disclosure by Croatian audit firms

Directory of Open Access Journals (Sweden)

Marko Čular

2017-01-01

Full Text Available The aim of this paper is to investigate transparency report (TR disclosure and determinants of TR delay, using Croatian listed companies and audit firms who audited Croatian listed companies in 2015. TR disclosure is measured using the TR index whereas the TR delay is measured as the number of days between the financial year-end and the publication date of the TR by an audit firms. We first analyzed the position and difference between audit firm indicators and types of audit firm using the following: number of certified auditors, number of employees, average net salary, total revenue, net profit, net working capital, total assets, total capital and financial ratio. Second, we used the TR index to determine the existence of TR elements and whether the audit firm made a disclosure. Finally, we used multiple regressions for modelling the TR delay as a function of the following variables: number of certified auditors, number of audits per year, return on assets and the TR index. Our results indicate that based on the TR index only 32% audit firms are transparent. Furthermore, the TR delay is shorter when audit firms have a greater number of certified auditors and a higher TR index, i.e. when audit firms incorporate more elements into the TR.

A Constructive Conceptual Approach to Strategic Performance Measurement

DEFF Research Database (Denmark)

Mitchell, Falconer; Nielsen, Lars Bråd; Nørreklit, Hanne

This paper focuses on identifying the key characteristics of a good strategic performance. It does this from a conceptual base founded in the paradigm of pragmatic constructivism. This involves analysing real world activities such as strategy setting and implementation in terms of the facts on wh...

International Diversification, Product Strategy, And Firm Value:Evidence From Korea

OpenAIRE

Donseung Choi; Eunho Cho

2014-01-01

Existing studies showed inconsistent results for the relationship between international diversification (ID) and firm value. Thus, we primarily examine whether each MNCs product strategy moderates the relationship between ID and firm value. The results show that MNCs product strategy moderates the relationship between ID and firm value as measured by Tobins Q. Specifically, a positive relationship exists between ID and firm value in the firm group pursuing a cost leadership strategy, whereas ...

Designing the marketing-sales interface in B2B firms

NARCIS (Netherlands)

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

2007-01-01

Purpose - This paper explores the marketing-sales interface in Dutch and Slovenian B2B firms. Design/methodology/approach - The study included 11 Dutch firms and ten Slovenian firms, with both samples as closely matched as possible. The firms were all manufacturers of physical products that operate

48 CFR 519.7006 - Mentor firms.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Mentor firms. 519.7006... PROGRAMS SMALL BUSINESS PROGRAMS GSA Mentor-Protégé Program 519.7006 Mentor firms. (a) Mentors must be... plan as required by FAR 19.7 - Small business mentors are exempted; or (2) A small business prime...

How should a theory of the firm incorporate advertising?

OpenAIRE

Lah, Marko

2015-01-01

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

Being Moved: Linguistic Representation and Conceptual Structure

Directory of Open Access Journals (Sweden)

Milena eKuehnast

2014-11-01

Full Text Available This study explored the organisation of the semantic field and the conceptual structure of moving experiences by investigating German-language expressions referring to the emotional state of being moved. We used present and past participles of eight psychological verbs as primes in a free word-association task, as these grammatical forms place their conceptual focus on the eliciting situation and on the felt emotional state, respectively. By applying a taxonomy of basic knowledge types and computing the Cognitive Salience Index, we identified joy and sadness as key emotional ingredients of being moved, and significant life events and art experiences as main elicitors of this emotional state. Metric multidimensional scaling analyses of the semantic field revealed that the core terms designate a cluster of emotional states characterised by low degrees of arousal and slightly positive valence, the latter due to a nearly balanced representation of positive and negative elements in the conceptual structure of being moved.

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.

48 CFR 16.403-1 - Fixed-price incentive (firm target) contracts.

Science.gov (United States)

2010-10-01

... (firm target) contracts. 16.403-1 Section 16.403-1 Federal Acquisition Regulations System FEDERAL... Fixed-price incentive (firm target) contracts. (a) Description. A fixed-price incentive (firm target... incentive (firm target) contract is appropriate when the parties can negotiate at the outset a firm target...

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

Where Gibrat meets Zipf: Scale and scope of French firms

Science.gov (United States)

Bee, Marco; Riccaboni, Massimo; Schiavo, Stefano

2017-09-01

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

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....

Customer Touch Point Histories

DEFF Research Database (Denmark)

Beckmann, Suzanne C.; Haurum, Helle

Customers’ engagement behaviours are considered an important source of value to the firm. So far, the discussion has mainly been conceptual and focused on the company’s perspective. By adopting the customer’s perspective we investigated what drive and explain customers’ engagement behaviours...... as reactions to their service encounters over time with a firm, using in-depth interviews. We found the following key factors driving and explaining customers’ engagement behaviours: (1) mundane product and service environment indeed drives customers’ engagement behaviours and mediating capabilities...... are identified, (2) customers produce (positive) value for the firm through engagement behaviours when perceived alignment between firm-initiated experience and product/service is present, and (3) transactions matter and drive (other) engagement behaviours....

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

OpenAIRE

Qi Luo; Toyohiko Hachiya

2005-01-01

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

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.

BIG DATA RESOURCES, MARKETING CAPABILITIES, AND FIRM PERFORMANCE.

OpenAIRE

Suoniemi, Samppa; Meyer-Waarden, Lars; Munzel, Andreas

2017-01-01

RESEARCH QUESTION Big data may significantly improve the efficiency and effectiveness of the firm's marketing capabilities. However, firms must overcome technological, skill-based and organisational challenges to become data-driven. Academic research has not empirically investigated how strategic big data resources, and to what extent, influence strategic marketing capabilities and, by extension, firm performance. The primary objective of this research is to remedy this crucial knowledge ...

Investigating the Effect of New Communication and Information Technologies on Organizational Structure and Firm Performance in Service Industry: a Survey of Consultant Engineering Firms

Directory of Open Access Journals (Sweden)

ali akbar Farghangi

2013-10-01

Full Text Available This study aims to investigate the current and desired situation of information and communication technologies (ICT, organizational structure and firm performance in Consultant Engineering Firms. To do so, a descriptive-exploratory study was performed among 252 managers and experts of consultant engineering firms in Tehran. A cluster sampling approach was used bya self-administrated questionnaire. Reliability was confirmed by Cronbach’s coefficient. Using one sample t-test, paired sample t-test and regression analysis, results indicated that 1 current and desired situation of ICT, organizational structure and firm performance are acceptable, 2 there is significant difference between current and desired situation of ICT, organizational structure and firm performance, 3 ICT has a positive and significant effect on organizational structure and firm performance

Reproducing the Firm : Routines, Networks, and Identity

NARCIS (Netherlands)

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

2017-01-01

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

Characterizing the technology firm : An exploratory study

NARCIS (Netherlands)

Grinstein, A.; Goldman, Arieh