LEGO firm devices for atomic industry

International Nuclear Information System (INIS)

Makarov, P.V.; Egunova, E.M.

2007-01-01

Analytical problems of atomic industry enterprises are considered. Possibilities of LECO firm devices for following analysis kinds: 1) ore materials under ore processing; 2) chemical composition analysis and properties of metals and oxides under implementation of production manufacturing for nuclear industry; 3) spectral analysis; 4) structure analysis and properties of metallic materials - are shown. All above-listed analysis methods are applying at quality control operation. Examples of LECO device application at different nuclear energy enterprises of Russia, Kazakhstan, and other CIS and Baltic countries are cited

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

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

Directory of Open Access Journals (Sweden)

Nham Tuan

2016-04-01

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

The effects of customer equity drivers on loyalty across services industries and firms

NARCIS (Netherlands)

Ou, Yi-Chun; Verhoef, Peter C.; Wiesel, Thorsten

Customer equity drivers (CEDs)-value equity, brand equity, and relationship equity-positively affect loyalty intentions, but this effect varies across industries and firms. We empirically examine potential industry and firm characteristics that explain why the CEDs-loyalty link varies across

R&D status and the performance of domestic firms in China's coal mining industry

International Nuclear Information System (INIS)

Sun, Sizhong; Anwar, Sajid

2015-01-01

Coal use accounts for a very large proportion of electricity production in China. Using a recently developed coarsened exact matching (CEM) technique, this paper examines the impact of research and development (R&D) activities on the performance of firms in China's coal mining industry. Our empirical results reveal that firms in China's coal industry that conduct R&D are more productive and their sales are higher. However, as far as the firm profitability and market shares are concerned, whether or not a firm in China's coal industry conducts R&D makes no difference. We find that foreign direct investment in China's coal mining industry leads to a significant decrease in the market share of domestic firms and its impact on productivity, sales and profitability of domestic firms is insignificant. The empirical results presented in this paper suggest that policies that encourage domestic firms in China's coal mining industries to conduct R&D can increase domestic production thereby reducing reliance on imports. Furthermore, productivity gains arising from R&D activities can also help Chinese mining firms to improve their competitive position in the international market. However, there is a need for restricting foreign direct investment in China's coal mining industry. - Highlights: • R&D status affects firm performance in China's coal mining industry. • Coal mining firms that conduct R&D are, on average, 0.2717% more productive. • Coal mining firms that conduct R&D experience an increase in sales. • Increase in foreign investment decreases the market share of coal mining firms

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)

The effect of firm characteristics and the propensity to export decision in food industry

Directory of Open Access Journals (Sweden)

Seyed Hamid Khodadad Hosseini

2014-07-01

Full Text Available This paper presents an empirical investigation to study the effects of firm and management team’s characteristics to develop food industry. The proposed study considers four factors associated with firms and 9 factors, which are related to management team’s characteristics. There were 50 firms in food industry in province of Tehran, Iran and the study has been accomplished among all 50 existing firms. For each firm, between 2-3 questionnaires were distributed among experts in each firm. Cronbach alpha has been calculated as 0.879, which is well above the minimum acceptable level. The results indicate that management knowledge about export market was number one important factor followed by the level of technology used, competitive advantage, believe in being profitable.

The Private Military Firms: Historical Evolution and Industry Analysis

National Research Council Canada - National Science Library

Alabarda, Yusuf; Lisowiec, Rafal

2007-01-01

.... This new industry, where firms not only supply the goods of warfare, but also fulfill many of the professional functions, is not only significant to the defense community, but has wider ramifications...

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

OpenAIRE

Pussep, Anton

2017-01-01

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

Productivity and Openness: Firm Level Evidence in Brazilian Manufacturing Industries

OpenAIRE

Wenjun Liu; Shoji Nishijima

2012-01-01

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

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

Directory of Open Access Journals (Sweden)

Jingxiao Zhang

2017-06-01

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

Clustering and firm performance in project-based industries : the case of the global video game industry, 1972-2007

NARCIS (Netherlands)

Vaan, de M.; Boschma, R.A.; Frenken, K.

2013-01-01

Explanations of spatial clustering based on localization externalities are being questioned by recent empirical evidence showing that firms in clusters do not outperform firms outside clusters. We propose that these findings may be driven by the particularities of the industrial settings chosen in

Clustering and firm performance in project-based industries: the case of the global video game industry, 1972-2007

NARCIS (Netherlands)

Vaan, M. de; Boschma, R.; Frenken, K.

2013-01-01

Explanations of spatial clustering based on localization externalities are being questioned by recent empirical evidence showing that firms in clusters do not outperform firms outside clusters. We propose that these findings may be driven by the particularities of the industrial settings chosen

Relationship between Corporate Social Responsibility and Financial Performance in the Mineral Industry: Evidence from Chinese Mineral Firms

Directory of Open Access Journals (Sweden)

Xiping Pan

2014-06-01

Full Text Available This paper examines the relationship between Corporate Social Responsibility (CSR and Corporate Financial Performance (CFP using panel data for 228 Chinese mineral listed firms from 2010 to 2013 with Pooled Least Squares regression analysis. Our study considers five different sublevel CSR issues—shareholder responsibility, employee responsibility, environmental responsibility, public responsibility, and supplier, customer and consumer responsibility—in capturing the effects of CSR elements on CFP. The estimation results show the different effects of each sublevel CSR issue on CFP. Overall, shareholder, employee responsibility, environmental responsibility, supplier, customer and consumer responsibility have significant relationships with CFP, which are the stakeholders who have the closest linkage with firm operations. Meanwhile, public responsibility outside the firm does not show significant interaction with CFP, which is why many mineral firms ignore the public interest and this leads to conflicts. Shareholder responsibility has the most significant positive effect on CFP. Supplier, customer and consumer responsibility and environmental responsibility usually have negative effects on CFP as costs increase. Moreover, all 228 listed mineral firms that were selected in this paper have been classified into five sub-sectors: the extractive industry, metal fabrication industry, oil and gas industry, gas and water-related industry, and oil-producing equipment industry, based on the Industry Classification Benchmark (ICB. Our study shows that the differences in the relationship between CSR and CFP for five sublevel industries are due to industry characteristics. If the government wants to solve these conflicts and positively encourage firms to adopt CSR, it is necessary to create a mining development environment whereby firm profits are closely tied to CSR.

INCREASING RETURNS TO SCALE, DYNAMICS OF INDUSTRIAL STRUCTURE AND SIZE DISTRIBUTION OF FIRMS

Institute of Scientific and Technical Information of China (English)

Ying FAN; Menghui LI; Zengru DI

2006-01-01

A multi-agent model is presented to discuss the market dynamics and the size distribution of firms.The model emphasizes the effects of increasing returns to scale and gives the description of the born and death of adaptive producers. The evolution of market structure and its behavior under the technological shocks are investigated. Its dynamical results are in good agreement with some empirical "stylized facts" of industrial evolution. With the diversity of demand and adaptive growth strategies of firms, the firm size in the generalized model obeys the power-law distribution. Three factors mainly determine the competitive dynamics and the skewed size distributions of firms: 1. Self-reinforcing mechanism; 2. Adaptive firm growing strategies; 3. Demand diversity or widespread heterogeneity in the technological capabilities of firms.

Working Capital Management and Firm Profitability. Empirical Evidence for the Romanian Industry

Directory of Open Access Journals (Sweden)

Miloş Marius Cristian

2017-01-01

Full Text Available The paper aims on empirically testing the connection between a firm's liquidity, or else a firm's ability to manage short-term liabilities, without undue stress and its profitability. We are using both a static and dynamic measure of firm liquidity: the traditional current liquidity ratio alongside one of the most frequent used working capital management indicator, the cash conversion cycle. An empirical analysis is performed based on 50 listed companies from Bucharest Stock Exchange, covering various industries. The empirical results are confirming the previous research that has confirmed the negative connection between the days sales outstanding (DSO, respectively the days inventory outstanding (DIO and the profitability of the firm, while cash conversion cycle seems to be positively connected with the firm profitability, in contradiction with some of the previous empirical literature.

Ad valorem versus unit taxes: Monopolistic competition, heterogeneous firms, and intra-industry reallocations

DEFF Research Database (Denmark)

Schröder, Philipp; Sørensen, Allan

a general equilibrium monopolistic competition model with heterogeneous firms and intra-industry reallocations. We show that the welfare superiority of ad valorem over unit taxes under imperfect competition is not only preserved but amplified. The additional difference between the tools arises because unit...... taxes distort relative prices, which in turn reduces average industry productivity through reallocations (the survival and increased market share of lower productivity firms). Importantly, numerical solutions of the model reveal that the relative welfare loss from using the unit tax increases...

Can Imports Discipline Collusive Firms? Case of the Philippine Cement Industry

OpenAIRE

Rafaelita M. Aldaba

2008-01-01

Applying a conjectural variations (CV) model introduced by Haskel and Scaramozzino (H&S model 1997), the paper examines the impact of trade liberalization on the Philippine cement industry where alleged cartel activities have taken place after the entry of the worlds Big Three cement firms : Holcim, Cemex, and Lafarge. In the H&S model, the relationship between firm behavior and competition is estimated with price cost margin (price minus marginal costs over price) as indicator of competition...

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.

To what do firms attribute success? An application of attribution theory to the secondary woodworking industry

Science.gov (United States)

Matthew Bumgardner; Urs. Buehlmann

2015-01-01

Small firms are a critical component of the secondary woodworking industry and are important to hardwood lumber demand in the US. Understanding managers' perceptions of competitiveness in these firms is important to those working with the industry to help maintain a viable wood manufacturing base. One area of interest relative to the overall business environment...

Energy efficiency barriers in commercial and industrial firms in Ukraine: An empirical analysis

International Nuclear Information System (INIS)

Hochman, Gal; Timilsina, Govinda R.

2017-01-01

Improvement in energy efficiency is one of the main options to reduce energy demand and greenhouse gas emissions. However, large-scale deployment of energy-efficient technologies is constrained by several factors. Employing a survey of 509 industrial and commercial firms throughout Ukraine and a generalized ordered logit model, we quantified the economic, behavioral, and institutional barriers that may impede the deployment of energy-efficient technologies. Our analysis shows that behavioral barriers resulted from lack of information, knowledge, and awareness are major impediments to the adoption of energy-efficient technologies in Ukraine, and that financial barriers may further impede investments in these technologies especially for small firms. This suggests that carefully targeted information provisions and energy audits will enhance Ukrainian firms' investments in energy-efficient technologies to save energy consumption, improve productivity, and reduce carbon emissions from the productive sectors. - Highlights: • Employing a survey of 509 industrial and commercial firms throughout Ukraine • A generalized ordered logit model is used in the analysis. • The paper quantifies the economic, behavioral, and institutional barriers to energy-efficient technologies. • Behavioral barriers are major impediments to the adoption of energy-efficient technologies. • Financial barriers may further impede investments in these technologies especially for small firms.

How Might Civilian Technology Firms Play A Role In The Defense Industrial Base Going Forward

Science.gov (United States)

2017-12-01

CIVILIAN TECHNOLOGY FIRMS PLAY A ROLE IN THE DEFENSE INDUSTRIAL BASE GOING FORWARD? by Daniel J. Shipman December 2017 Thesis Advisor: Mie...2017 3. REPORT TYPE AND DATES COVERED Master’s thesis 4. TITLE AND SUBTITLE HOW MIGHT CIVILIAN TECHNOLOGY FIRMS PLAY A ROLE IN THE DEFENSE INDUSTRIAL...the competitive business environment of Department of Defense (DOD) vendors and whether the market is favorable for non-traditional, technology

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

OpenAIRE

Kim, Hanho; Kim, Jae-Kyung

2005-01-01

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

Importance of Logistics Processes for Customer Service and Firm Performance: Evidence from Furniture Industry of Pakistan

Directory of Open Access Journals (Sweden)

Imran Qadir

2017-11-01

Full Text Available Research Question: This study examines the relationship between logistics processes, customer service and firm performance in the furniture industry of Pakistan. Motivation: Furniture industry in Pakistan comprises small and medium enterprises wherein production is mainly labor intensive. Therefore, the current study also investigates the mediating role of manufacturing flexibility for the relationship of logistics processes and customer service. The paper applies the logistics models developed by Bowesox (1974, Green et al.(2008, and Tracey (1998 to furniture industry. Idea: The core idea of the paper is to measure the effects of logistics process on customer service and the performance of furniture manufacturing firms. The study takes the logistics process as an independent variable, the customer service as the first dependent variable and manufacturing performance as a moderating variable. Data: Primary data on logistics, customer service, manufacturing flexibility and firm performance were conveniently collected through a questionnaire from owners/managers of 61 furniture manufacturing firms. Tool: Descriptive statistics, correlation and regression analyses were run to draw the results. Findings: Logistics processes positively affect customer service and firm performance. Customer service also exerts a positive effect on firm performance while the moderating role of manufacturing flexibility was not supported for the relationship of logistics processes and customer service. Contribution: Through efficiency in logistics processes, furniture manufacturing firms can serve customers in a superior way to ultimately achieve improved firm performance. The framework being restricted to efficiency of logistics processes only constitutes an important limitation of the study.

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

DEFF Research Database (Denmark)

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

2016-01-01

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

Firms' Response and Unintended Health Consequences of Industrial Regulations

OpenAIRE

Christopher Hansman; Jonas Hjort; Gianmarco León

2015-01-01

Regulations that constrain firms' externalities in one dimension can distort incentives and worsen externalities in other dimensions. In Peru's industrial fishing sector, the world's largest, fishing boats catch anchovy that plants along the coast convert into fishmeal. Matching administrative daily data on plant production, ground-level air quality data, hospital admissions records, and survey data on individual health outcomes, we first show that fishmeal production worsens adult and child ...

Firm's response and unintended health consequences of industrial regulations

OpenAIRE

Christopher Hansman; Jonas Hjort; Gianmarco León

2015-01-01

Regulations that constrain firms' externalities in one dimension can distort incentives and worsen externalities in other dimensions. In Peru's industrial fishing sector, the world's largest, fishing boats catch anchovy that plants along the coast convert into fishmeal. Matching administrative, daily data on plant production, ground-level air quality data, hospital admissions records, and survey data on individual health outcomes, we first show that fishmeal production negatively affects adul...

Measuring Firm Performance

DEFF Research Database (Denmark)

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

2014-01-01

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

Exploring effective factors on privatization, firm performance and export development: Evidence from steel industry

Directory of Open Access Journals (Sweden)

Seyed Mohsen Seyedaliakbar

2016-01-01

Full Text Available Privatization means establishing a new system based on the market mechanisms and consequently making a change, alteration in different aspects of economy and is a process in which the government can examine the possibility of transferring the duties and facilities to the private sector on any level and if necessary, exerts such transfer. On the other hand, exports in industry sector can be a noticeable point for the economic growth of any country. Enhancing the exports of the steel industry of the country can have a principal role in the economic pursuit of the country’s non-oil products. Such an enhancement brings about a positive effect in the efficiency of the stocks within the financial markets by developing the steel industry. Researchers of this field claim that privatization in the steel industry results in the further development of the steel stock market and exports. This paper presents a comprehensive survey on factors influencing on privatization of the firms in steel industry. The study has designed a questionnaire in Likert scale and distributed it among some experts who worked for Mobarakeh steel producer in Iran. Using principle component analysis, the survey has concluded that export activities were influenced the most by six major factors including creativity, technological limitation, opportunities and challenges, being up to date, customer orientation and financial sanction. Moreover, firm performance was influenced by two major factors of stakeholder’s satisfaction and organizational culture. Finally, two factors of rationalism and market orientation influenced the most on privatization.

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

Directory of Open Access Journals (Sweden)

Qiuying Li

2014-02-01

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

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...

State of competition and petroleum firm participation in the US uranium industry

International Nuclear Information System (INIS)

Guerrieri, U.; Hogarty, T.

1980-01-01

This report analyzes the state of competition in the US uranium industry and the effects of petroleum firm participation on that competition. The analysis is based primarily on data derived from a 1979 API survey of uranium producers. Pior work on the subject was performed by API, the Federal Trade Commission, the Department of Justice, and National Economic Research Associates. The uranium industry principally serves electric utilities. The three phases of this industry studied in this report are exploration, ore mining, and uranium concentrate production. The major findings with respect to the state of competition in the uranium industry are discussed

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

OpenAIRE

He, Jiao

2010-01-01

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

Firm Based Trade Models and Turkish Economy

Directory of Open Access Journals (Sweden)

Nilüfer ARGIN

2015-12-01

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

The transformation of an old industrial districts: Firms, Family and mutuality in the Zaanstreek

NARCIS (Netherlands)

Davids, C.A.

2006-01-01

The Zaanstreek-northwest of Amsterdam, The Netherlands-has been a highly industrialized region for nearly four hundred years. For most of this period, it showed a strong sense of community and a high degree of cooperation between firms, which is usually considered to be typical for an "industrial

Will the leading firm continue to dominate the market in the Taiwan notebook industry?

Science.gov (United States)

Chu, Hsiao-Ping; Yeh, Ming-Liang; Sher, Peter J.; Chiu, Yi-Chia

2007-09-01

This study investigates whether the market share leader in the notebook industry in Taiwan is likely to maintain its dominant position. Market share data are used to investigate the intensity of competitiveness in the industry, and data on the gap in market shares are employed to elucidate the dominance of the leading firm in Taiwan's notebook industry during the 1998-2004 period. The newly developed Panel SURADF tests advanced by Breuer et al. [Misleading inferences from panel unit root tests with an illustration from purchasing power parity, Rev. Int. Econ. 9 (3) (2001) 482-493] are employed to determine whether the market share gap is stationary or not. Unlike other panel-based unit root tests which are joint tests of a unit root for all members of a panel and are incapable of determining the mix of I(0) and I(1) series in a panel setting, the Panel SURADF tests have the advantage of being able to investigate a separate unit root null hypothesis for each individual panel member and are, therefore, able to identify how many and which series in a panel are stationary processes. The empirical results from several panel-based unit root tests substantiate that the market shares of the firms studied here are non-stationary, indicating that Taiwan's notebook industry is highly competitive; however, Breuer et al.'s [12] Panel SURADF tests unequivocally show that only Compal is stationary with respect to market share gap. In terms of sales volume, Compal is the second largest firm in the notebook industry in Taiwan, and the results indicate that it alone has the opportunity to become the market share leader in the notebook industry.

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

Firm Traits and Web Based Disclosures in Top Nigerian Firms

Directory of Open Access Journals (Sweden)

Bello Ayuba

2016-02-01

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

Understanding energy efficiency barriers in Ukraine: Insights from a survey of commercial and industrial firms

International Nuclear Information System (INIS)

Timilsina, Govinda R.; Hochman, Gal; Fedets, Iryna

2016-01-01

Improvement of energy efficiency is an important element of energy policy for a sustainable supply of energy in Ukraine. However, the country is facing several challenges to the large-scale deployment of energy efficient technologies. We conducted a two-stage quota sample survey of 509 commercial and industrial firms of all regions of Ukraine to understand the barriers to energy efficiency improvements. Our study finds that more than two-thirds of the commercial and industrial firms in the country view improvement of energy efficiency very important to their business. However, due to several barriers they are unable to realize the improvements of energy efficiency. Among the 19 potential barriers investigated in the study, the survey results show that high upfront investment requirement, lack of government policies to support energy efficiency improvements, higher cost of capital, and lack of information and awareness are the most critical barriers to the improvement of energy efficiency in the industrial and commercial sectors in Ukraine. - Highlights: • Despite attractiveness, large scale deployment of energy efficiency is lacking. • Several barriers are responsible for slow implementation of energy efficiency. • Understanding the barriers from the field is crucial to design effective policies. • A survey of commercial and industrial firms reveals the key barriers. • Financial barriers are the main hurdles to adopt energy efficient technologies.

Trade, Industry Structure and Different Sources of Firm-heterogeneity

DEFF Research Database (Denmark)

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

Recently the workhorse model of intra-industry trade has been augmented with heterogeneous cost structures at the firm level. In principle there exist various sources of heterogeneity, yet the literature appears -- for convenience or other reasons -- to settle on marginal cost heterogeneity...... as the preferred modelling device. The present paper develops a unified model framework allowing a systematic comparison of marginal and fixed cost heterogeneity. We find that both types of heterogeneity are in fact able to capture the central stylized facts of international trade. For example can either source...

Distribution system choice in a service industry: An analysis of international insurance firms operating in the United States

NARCIS (Netherlands)

Parente, R.; Choi, B.P.; Slangen, A.H.L.; Ketkar, S.

2010-01-01

Service firms play an increasingly important role in the global economy. However, the internationalization strategies of such firms, and especially their distribution system choices, have been underexplored in the international management literature. One specific service industry that has

How Corporate Cultures Coevolve with the Business Environment: The Case of Firm Growth Crises and Industry Evolution

OpenAIRE

Christian Cordes; Peter J. Richerson; Georg Schwesinger

2010-01-01

International audience; This paper shows how cognitive human dispositions that take effect at the level of an individual firm's corporate culture have repercussions on an industry's evolution. In our theory, the latter is attributable to evolving corporate cultures coupled with changes in a firm's business environment. With the help of a formal model of evolving corporate cultures, we demonstrate how firms can establish a cooperative cultural regime that yields competitive advantages in an in...

Inter-firm R&D networks in the global software industry : An overview of major trends and patterns

NARCIS (Netherlands)

Cloodt, M.M.A.H.; Hagedoorn, J.; Roijakkers, N.

2010-01-01

This paper presents an analysis of some major historical trends in inter-firm R&D partnering in the international software industry during the period 1970–1999. Our research demonstrates an overall growth pattern of newly made R&D partnerships and reveals the important role played by leading firms.

The impact of policy on firms' performance: the case of CNC machine tool industry in India

NARCIS (Netherlands)

Kumar, A.

2003-01-01

This study is about understanding how the government policy actually works at firm level in the context of developing countries' industrialization. In the literature, the discussions on impact of government policy on corporate performance primarily stress on macroeconomic aspects of industrial

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

Directory of Open Access Journals (Sweden)

Godfrey MUPONDA

2014-07-01

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

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.

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...

Productivity in Information Service Industries: a Panel Analysis of Japanese Firms

OpenAIRE

Futoshi Kurokawa; Kiyohiko G. Nishimura

2006-01-01

We examine factors determining productivity of information-technology service activities at firm level, using most comprehensive data of information service industries in Japan. We focus on the degree of modularisation and resulting outsourcing and economies/diseconomies of scale in software development, and changes. We find that outsourcing has persistent negative effects on total factor productivity, suggesting not only productivity-enhancing modularisation is not fully utilised but also pr...

R and D investment of electricity-generating firms following industry restructuring

International Nuclear Information System (INIS)

Kim, Jihwan; Kim, Yeonbae; Flacher, David

2012-01-01

Since electricity market restructuring, questions over adequate levels of R and D investments persisted. Using an unbalanced panel data of 70 electricity-generating firms across 15 Organisations of Economic Co-operation and Development countries from 1990 to 2008, this paper empirically examines the impacts of entry liberalization (allowing third party access, establishing a wholesale market, and deregulating a retail market), vertical unbundling, privatization, and firm size on R and D investments. Entry liberalization is associated with a decline in R and D investment. Establishing a wholesale market exhibits the greatest negative effects on R and D investment. Regulated TPA and retail market deregulation also decrease R and D. The effect of privatization is not independently salient but interacts with a wholesale pool to lower R and D investments. Large firms spend more on R and D investment than small firms. Results indicate that the restructuring of the electricity industry reduces R and D investment, which may be detrimental to the reliability and the efficiency of the electricity system as well as to the creation and maintenance of the innovation capabilities necessary to address demand and environmental concerns. - Highlights: ► Entry liberalization decreases R and D outlays of electricity generating utilities. ► Establishment of a wholesale market leads to a substantial decline in R and D spending. ► Private ownership interacts with entry liberalization to lower R and D investment.

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...

Firm default and aggregate fluctuations

NARCIS (Netherlands)

Jacobson, Tor; Linde, Jesper; Roszbach, Kasper

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

Technological Capability and Firm Performance

Directory of Open Access Journals (Sweden)

Fernanda Maciel Reichert

2014-08-01

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

Firms plunge into the sea. Marine Biotechnology Industry, a first investigation

OpenAIRE

Gaia Raffaella eGreco; Marco eCinquegrani

2016-01-01

Marine biology made in the last four decades giant leaps. Several scientific and technological breakthroughs shaped research in the marine environment. Thanks to the revelation of the enormous width and complexity of sea life, marine biotechnology began a fast path of development that involved both the public and the private domain. Although there exist some studies on the dimensions and the evolution of the industry, few and scattered is the knowledge about the firms and the dynamics that ch...

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 ...

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.

Industry Environment And Business Strategy: A Comparison Of Contingency Theory Expectations And Relationships Between Small Manufacturing Firm Managers Perceptions Of Environment And Strategy

OpenAIRE

Alfred M. Pelham; Pamela Lieb

2011-01-01

Contingency theory suggests that that an appropriate match must be made between strategy and industry environment conditions. This study compared contingency theory expectations with the associations between perceptions of industry environment conditions and reported firm strategy, as reported by the firms president and national sales manager. Confirming theory expectations, there were significant and positive associations between perceived industry technical/market turbulence and reported gr...

Inter-Industry and Inter-Firm Wage and Hours Differentials in Switzerland

OpenAIRE

José V. Ramirez

2000-01-01

In the present paper, we analyse the role of demand factors on wages and hours in Switzerland. To accomplish this task, we used the 1996 Swiss Wage Structure Survey, a large employee-employer survey. Results indicate that capital intensity appears to have a certain impact on the relation between wages and hours: the "inter-industry wage-hours differentials line" we inferred is clearly positive. Further, an analysis of the determinants of inter-firm wage differentials shows that the internal o...

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 the determinants of markup size industry-specific? The case of Slovenian manufacturing firms

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Ponikvar Nina

2011-01-01

Full Text Available The aim of this paper is to identify factors that affect the pricing policy in Slovenian manufacturing firms in terms of the markup size and, most of all, to explicitly account for the possibility of differences in pricing procedures among manufacturing industries. Accordingly, the analysis of the dynamic panel is carried out on an industry-by-industry basis, allowing the coefficients on the markup determinants to vary across industries. We find that the oligopoly theory of markup determination for the most part holds for the manufacturing sector as a whole, although large variability in markup determinants exists across industries within the Slovenian manufacturing. Our main conclusion is that each industry should be investigated separately in detail in order to assess the precise role of markup factors in the markup-determination process.

Econometric analysis of the performance of cooperatives and investor owned firms in the European dairy industry

NARCIS (Netherlands)

Soboh, R.A.M.E.

2009-01-01

Keywords: Cooperatives, IOFs, European dairy industry, logistic regression, stochastic frontier analysis, inter- and intra-firm efficiency, catch-up component, data envelopment analysis, hyperbolic technical efficiency, overall efficiency, scale efficiency, bootstrapping.

In this study

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

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.

The evolution of corporate governance in the global financial crisis: the case of Russian industrial firms

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Ichiro Iwasaki

2016-12-01

Full Text Available In this paper, using a unique dataset of industrial firms obtained from enterprise surveys conducted across the Russian Federation in 2005 and 2009, we trace back structural changes in the corporate governance system before and after the global financial crisis. We also empirically examine the impacts of the crisis on the organization of boards of directors and audit systems. Our survey results reveal that, in the Russian industrial sector, the quality of corporate governance has been improved through the crisis. Furthermore, we found that, corresponding to the alignment hypothesis, in firms that decisively reformed their management and supervisory bodies in response to the 2008 financial shock, the total number of worker representative directors significantly declined, as did their proportion to all board members. On the other hand, we also found that, in firms that substantially reorganized their audit system to cope with the crisis, the independence of the audit system was undermined remarkably, corresponding to the expropriation hypothesis. Findings that management behaviors predicted by the two conflicting hypotheses are simultaneously detected—and that their targets are significantly different—deserve special mention.

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

A Selection Model of Patenting Firms in Demark

DEFF Research Database (Denmark)

Nielsen, Anders Østergaard

1999-01-01

on how market structure relate to innovative activity in small open economies. The paper explores the relation between patenting activity and market structure in the Danish manufacturing industries using data from a recently developed database containing accounting information on a sample of patenting...... firms in Denmark. Market structure by concentration and firm size in manufacturing industries was found to be of opposite effects on firms patent activity. Studies on the relation between industrial innovation and market structure in the Danish manufacturing industries are few. Also, since the majority...

Industrial initiatives in the wind industry

International Nuclear Information System (INIS)

Edworthy, J.

1992-01-01

Industrial initiatives are methods of lobbying and marketing to increase the activity, revenues, profits, and commercial viability of an industry. They may be undertaken by industry individuals or firms, industry groups, government agencies, or combinations of all these. In Canada, one example of an industrial initiative is the Canadian Wind Energy Association. Other initiatives relevant to the wind power industry include Technology Inflow Programs sponsored by External Affairs Canada, used for visiting foreign firms with the view to licensing foreign technology, and Industrial Research Assistance Programs to develop or adapt new technologies in partnership with government. The Conservation/Renewable Energy Council, Small Power Producers of Alberta, and Independent Power Producers Society of Ontario are also active in supporting wind energy initiatives. In other countries, notable initiatives for wind energy include the Danish wind turbine warranty guarantee program. The Western Wind Industry Network of Canada conducts regional lobbying. It is suggested that in Canada, more such networks are needed, as well as joint ventures with utilities and governments, and more work with the regulatory agencies, to promote wind energy

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

OpenAIRE

Narula,Rajneesh

2000-01-01

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

Influence of Organisational Culture on Total Quality Management Implementation and Firm Performance: Evidence from the Vietnamese Construction Industry

Directory of Open Access Journals (Sweden)

Panuwatwanich Kriengsak

2017-03-01

Full Text Available The main purpose of this study is to examine the relationship between organisational culture (OC and Total Quality Management (TQM, and the influence of TQM implementation on organisational performance improvement within the context of the Vietnamese construction industry. A survey was conducted with 104 respondents from Vietnamese construction firms, using validated survey instruments developed in past research. Analysis techniques include cluster analysis and Structural Equation Modelling. Findings showed that Vietnamese construction firms are dominated by clan and hierarchy cultures rather than adhocracy and market cultures according to Competing Value Framework (CVF of OC classification. Furthermore, it was found that organisations dominated by either clan or adhocracy cultures could provide a favourable environment for successful TQM implementation, whereas this is not the case for those dominated by both market and hierarchy cultures. This study also confirmed the significant and positive relationship between TQM implementation and organisational performance improvement.

NEW TRENDS IN INTERNATIONAL ENTREPRENEURSHIP: INSIGHTS FROM CONTEMPORARY TURKISH FIRMS INCLUDING BORN GLOBALS

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Sinan NARDALI

2015-07-01

Full Text Available Academic literature has examined phenomenon of entrepreneurship more thantwo decades and thisphenomenon associated with entrepreneurial activity. OECDdefines the entrepreneurial activity as the enterprising human action in pursuit ofthe generation of value, through the creation or expansion of economic activity,by identifying and exploiting new products, process or markets. Present studyanalyses international entrepreneurship in the lights of contemporary Turkishfirms including born globals.We used case studies and literature review to betterunderstand the early internalization phenomenon and provide useful informationabout international success of Turkish firms. Six of the considered firms are webbased technology companies and most of them have born global firms’ features.The findings indicatedthatmajority of thefirms are technology companies andtheyhad a strong international outlook and international entrepreneurialorientation and they possess a strong entrepreneurial mindset.

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

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

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

Organizational Culture and the Financial Performance of Manufacturing Firms

OpenAIRE

Mahrooz Koochaki Golafzani; Ebrahim Chirani

2016-01-01

This paper intends to examine the relationship between organizational culture and the financial performance of manufacturing firms in the province of Guilan (Iran). To do so, a statistical sample with the size of 247 firms located at industrial towns/parks in Guilan was selected. The required data was collected through questionnaire. Then, the relationship between organization culture, including the clan culture, adhocracy culture, market culture and hierarchy culture, and the financial perfo...

CLUSTERING AND THE NATURE OF RELATIONSHIP AMONGST FIRMS IN THE LAGOS REGION, NIGERIA

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FAGBOHUNKA Adejompo

2015-06-01

Full Text Available Regional cluster, a geographically bounded concentration of interdependent firms, is the best environment to fostering a strong relationship amongst firms which can lead to amazing technological and industrial expansion. This paper underscores clustering and the resultant nature of relationship amongst firms, using the Lagos region as a case study. One hundred and three questionnaire were administered in twelve industrial estates; one questionnaire in each of the firm. This connotes that all the firms in the industrial estates were successfully covered in the questionnaire administration, which was administered. A descriptive statistical analytical technique was adopted. The paper has reveals the types of working relationship amongst firms in the Lagos region which includes; raw materials purchase, subcontract, collaboration in research and development, sales promotion, transportation, power supply, water supply, security, waste treatment, telecommunication, ports and shipping as well as labour supply. The paper found out that raw materials purchase/supply was more striking amongst the working relationship types. Also, the paper has revealed services sharing amongst the firms and transport as the most dominant. The most important location advantage was the market facilities. The analysis of variance carried out in relation to variation in clustering amongst the firms at 0.05% level was significant. The paper concluded that industrial cluster if encouraged, will lead to increase working relationship, which in turn have the capability of boosting, promoting and encouraging economies of clustering. Cluster concepts spatially emphasize inter-firm relations that facilitate innovative activity, which is recognized as a driving force of sustained economic growth. It is therefore recommended that these clustering of firms should be made viable, encouraged and strengthened through government investment in the industrial sector, making the location

Performance of Brazilian Companies: Year Effects, Line of Business and Individual Firms

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Luiz Artur Ledur Brito

2004-07-01

Full Text Available Performance varies. This simple statement conceals many intricacies of strategic management. Because performance varies among individual firms, researchers can explore factors that differentiate these firms and explain why some firms are consistently outperforming others. Because performance varies among industries, researchers can explore structural characteristics of different branches of accounting as a source of explanation. Because performance varies with time, researchers can explore environmental and internal dynamic elements that drive strategic decision-making. In reality,measuring and analyzing performance is a very complicated issue when performance varies simultaneously from firm to firm, from industry to industry and from year to year. The theoretical discussion behind this question is the relative importance of the industrial organization derived approach to strategy versus the resource-based view. This paper analyzes the composition of performance variance of a set of Brazilian firms from 1998 to 2001. The results demonstrate that firm effects are still dominant, with year and industry effects being lower, as previous studies with North American firms have indicated.

Environmental Management System Adoption and the Operational Performance of Firm in the Textile and Apparel Industry of China

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Biao Li

2017-06-01

Full Text Available In China, more firms in the textile and apparel industry adopt environmental management systems compared to firms that manufacture other products. It is important to know how the firms’ financial and real performances are affected. We study the changes of firms’ performance in profitability, sales, and operational efficiency after environmental management system (EMS adoption using an event study. Based on 22 events of EMS adoption, we found a significant decrease in firms’ profitability, sales, and inventory productivity. We explore the reasons which led to the decrease in firm performances. We found that the increase in sample firms’ total assets is the major reason. The loss in operational efficiency and flexibility are due to the requirements of the EMS.

A Study on Alternative Approaches to Instill Environmental Concerns in the Domain of Production Management of Industrial Firms

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Ronaldo Manzan

2013-10-01

Full Text Available This article presents a comparative analysis of alternative models of production with environmental concerns that may lead to higher effectiveness in initiatives undertaken by industrial firms towards the development of more sustainable operations. The objective is to organize the knowledge on the subject of such models and provide guidelines that may help managers in selecting the most fitting approach for their business, according to the strategy and conditions of the firm. Among the presented models, the Cleaner Production model stands out for promoting the approach of nurturing the concurrent strengthening of quality, productivity, and sustainability in the existing manufacturing processes by dealing more comprehensively with factors internal to the firm that may be directly controlled by the managers.

The value relevance of comprehensive income and components for industrial firms

NARCIS (Netherlands)

Brimble, M.; Hodgson, A.

2005-01-01

The tentative decisions under International Accounting Standards Reporting Comprehensive Income (Performance Reporting) (IAS Plus 2004c) require several items that are noncore business to be included as comprehensive income. Using data from Australian firms we replicate the IAS adjustments and use

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

International Nuclear Information System (INIS)

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

2017-01-01

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

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

Energy Technology Data Exchange (ETDEWEB)

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

2017-07-01

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

Influence of firm related factors and industrial policy regime on technology based capacity utilization in sugar industry in Nigeria

OpenAIRE

Akpan, Sunday Brownson; Udo, U.J.; Essien, Ubon A.

2011-01-01

The study analyzed the technology based capacity utilization rate in sugar industry in Nigeria in the period 1970 to 2010. Data used in the study were obtained from the sugar firms, publications of the Central Bank of Nigeria and National Bureau of Statistics. Augmented Dicker Fuller unit root test was conducted on the specified data to ascertain their stationarity and order of integration. The result reveals that some variables were stationary at level while some were stationary at first dif...

Financial and environmental behavior of the regulated firm: A case study of the US nuclear power industry, 1974-1984

International Nuclear Information System (INIS)

Mitchell, E.P.

1991-01-01

This study of the US commercial nuclear power industry from 1974-1984 covers the operations of 87 power plants. It seeks to help explain the actions of a regulated firm faced with environmental constraints from the Nuclear Regulatory Commission and financial constraints from State regulatory bodies. Theoretical and applied conceptions of the regulated monopoly are reviewed in a historical and integrated format using both the neoclassical and institutional positions. For the neoclassical approach, the author seeks empirical support for the Averch-Johnson hypothesis by including profit-maximizing and environmental constraints in his econometric model. For the institutionalist approach, he tries to look into the institutional reasons for the behavior exhibited by the firms. A date base which consists of financial, radioactive emissions, and technical operations information has been compiled in order to allow testing of various hypotheses drawn from theoretical and applied sources. The results of the analysis support five very clear conclusions which are presented

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

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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.

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....

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

OpenAIRE

TOMIURA Eiichi; ITO Banri; WAKASUGI Ryuhei

2008-01-01

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

MONITORING OF QUALITY ASSURANCE SYSTEMS IN FOREST INDUSTRY (DÜZCE CASE

Directory of Open Access Journals (Sweden)

Tarık Gedik

2005-04-01

Full Text Available : In this study, forest industry firms in Düzce city centre were researched. The aim of this study is to investigate the quality assurance systems, standards and quality perceptions of forest industry firms. We used a questionnaire that includes 21 questions. First section of the questionnaire covered general features of the firm. Other sections queried quality perceptions of the firms and staff and quality control process in firms. 30 firms were included in this study and data were analyzed with SPSS statistical program. Evaluation of data revealed that most of the firms have been undertaken revision. Firms are actively seeking new quality approaches and considering the views of their customers in planning phase.

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

International Competition and Small-Firm Exit in US Manufacturing

OpenAIRE

Robert M Feinberg

2013-01-01

This study analyzes both the determinants of small firm exit rates in US manufacturing over the 1989–2004 period, especially the reaction of domestic firms to the nature of foreign competition as measured by industry-specific real exchange rate movements (interacted with import penetration by industry). These international pressures seem to lead to increased rates of smallest-firm exit in manufacturing, though the magnitudes of these effects are smaller than sometimes discussed. However, high...

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....

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.

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

Directory of Open Access Journals (Sweden)

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.

The Investment Strategy of With-Profits Life Insurance Firms

OpenAIRE

Jaafar, Karim Chawki

2008-01-01

Abstract Within the context of an increasingly fragile life insurance industry, this paper conducts a quantitative investigation on the determinants of investment strategy within with profit life assurers in the UK, a dominant segment within the global industry. Examining a range of possible defining characteristics on investment strategy of such firms including size, financial strength (solvency), proprietary/mutual status, open/closed status and the level of guaranteed liabilities, th...

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

Directory of Open Access Journals (Sweden)

PAUL I. OJEAGA

2016-06-01

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

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.

Characterizing the technology firm : An exploratory study

NARCIS (Netherlands)

Grinstein, A.; Goldman, Arieh

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

Financial risk of the biotech industry versus the pharmaceutical industry.

Science.gov (United States)

Golec, Joseph; Vernon, John A

2009-01-01

The biotech industry now accounts for a substantial and growing proportion of total R&D spending on new medicines. However, compared with the pharmaceutical industry, the biotech industry is financially fragile. This article illustrates the financial fragility of the biotech and pharmaceutical industries in the US and the implications of this fragility for the effects that government regulation could have on biotech firms. Graphical analysis and statistical tests were used to show how the biotech industry differs from the pharmaceutical industry. The two industries' characteristics were measured and compared, along with various measures of firms' financial risk and sensitivity to government regulation. Data from firms' financial statements provided accounting-based measures and firms' stock returns applied to a multifactor asset pricing model provided financial market measures. The biotech industry was by far the most research-intensive industry in the US, averaging 38% R&D intensity (ratio of R&D spending to total firm assets) over the past 25 years, compared with an average of 25% for the pharmaceutical industry and 3% for all other industries. Biotech firms exhibited lower and more volatile profits and higher market-related and size-related risk, and they suffered more negative stock returns in response to threatened government price regulation. Biotech firms' financial risks increase their costs of capital and make them more sensitive to government regulations that affect their financial prospects. As biotech products grow to represent a larger share of new medicines, general stock market conditions and government regulations could have a greater impact on the level of innovation of new medicines.

Firm size diversity, functional richness, and resilience

Science.gov (United States)

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

2006-01-01

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

Ranking insurance firms using AHP and Factor Analysis

Directory of Open Access Journals (Sweden)

Mohammad Khodaei Valahzaghard

2013-03-01

Full Text Available Insurance industry includes a significant part of economy and it is important to learn more about the capabilities of different firms, which are active in this industry. In this paper, we present an empirical study to rank the insurance firms using analytical hierarchy process as well as factor analysis. The study considers four criteria including capital adequacy, quality of earning, quality of cash flow and quality of firms’ assets. The results of the implementation of factor analysis (FA have been verified using Kaiser-Meyer-Olkin (KMO=0.573 and Bartlett's Chi-Square (443.267 P-value=0.000 tests. According to the results FA, the first important factor, capital adequacy, represents 21.557% of total variance, the second factor, quality of income, represents 20.958% of total variance. In addition, the third factor, quality of cash flow, represents 19.417% of total variance and the last factor, quality of assets, represents 18.641% of total variance. The study has also used analytical hierarchy process (AHP to rank insurance firms. The results of our survey indicate that capital adequacy (0.559 is accounted as the most important factor followed by quality of income (0.235, quality of cash flow (0.144 and quality of assets (0.061. The results of AHP are consistent with the results of FA, which somewhat validates the overall study.

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...

Corporate Governance and its Impact on Firm Performance and Risk in Food and Beverages Industry: Empirical Analysis on Dutch Lady Berhad

OpenAIRE

Erizal, Nurulhidayu

2017-01-01

The main objective of this study was to investigate the relationship between Corporate Governance and its impaction firm performance and risk in food and beverage industry. Specifically, this study examined liquidity risk, credit risk and leverage and how they affect to the Corporate Governance. For the firm performance was measured with using Return on Asset (ROA). In this study it found that a strong relationship exists between the Corporate Governance practices under study and the firm’s f...

ICAF Financial Services Industry Study

National Research Council Canada - National Science Library

Allison, Douglas; Barry, Kevin; Beaver, Philip; Browne, Michael; Cubillos, Claudio; Hanger, Wallace; Kluchko, Luke; LaDue, Charles; McGhee, Michael; Mitsoff, Gregory

2005-01-01

.... The industry includes those firms that provide financial services to organizations or individuals, the government agencies that regulate the industry, and the markets that facilitate the exchange of financial assets...

How Knowledge Accumulation changed the Competitive Advantage of Strategy Consulting Firms

NARCIS (Netherlands)

F.A.J. van den Bosch (Frans); M.G. Baaij (Marc); H.W. Volberda (Henk)

2005-01-01

textabstractResearch evidence confirms that the accumulation of knowledge contributes to the competitive advantage of firms. In the strategy consulting industry, one of the most knowledge-intensive professional services industries, however, established firms that exploited their knowledge

An empirical analysis of ERP adoption by oil and gas firms

Science.gov (United States)

Romero, Jorge

2005-07-01

-adopting firms outperformed non-SAP-adopting firms in terms of return on sales during the post-implementation period. These findings indicate that the impact of ERP implementation on return on sales occurred after an assimilation period. I perform an analysis of the impact of ERP in the Oil and Gas Industry using strategic performance metrics described in Banker et al. (1996) including profitability, productivity, price recovery, product mix, and capacity utilization. My results show that the benefits obtained from ERP implementation in terms of productivity and capacity utilization are persistently positive during and after the installation.

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....

Does Input Quality Drive Measured Differences in Firm Productivity?

DEFF Research Database (Denmark)

Fox, Jeremy T.; Smeets, Valerie Anne Rolande

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

Intensity of rivalry in Czech furniture production industry

Directory of Open Access Journals (Sweden)

Lucie Špačková

2012-01-01

Full Text Available The paper focuses on furniture production industry in the Czech Republic and evaluates the influence of competition forces within this industry. These forces have a direct impact on success of competitive strategies of the firms. Furniture production industry is a typical branch occupied by numerous small and medium-sized firms. Small firms aim on satisfying domestic (or rather local demand, medium-sized and big firms are much more aiming on exports. The methodical sources for evaluation of rivalry represent particular influences defined by Porter in his model of five competitive forces. Main influences identified by Porter, which are increasing the intensity of competition in the furniture production industry in the Czech Republic include low industry concentration, relatively low diversity of competitors, decline in sales, low (or none switching costs, and existing excessive capacity within the industry. Further development will be most significantly influenced by a growing concentration of the bigger Czech producers on domestic market and overall economic development.

An investment-production-regulatory model for firms in the offshore oil and gas industry

International Nuclear Information System (INIS)

Jin Di.

1991-01-01

This tripartite study examines the economic consequences of proposed environmental regulations on firms in the OCS oil and gas industry. The background part reviews the major issues associated with OCS oil and gas development and relevant environmental regulatory proposals. In the theoretical part, models are developed using optimal control theory and the theory of nonrenewable resources to analyze the impact of rising compliance cost on firm's behavior in terms of the investment and production rates over time. Finally, in the simulation part, an integrated investment-production-regulatory model is developed to simulate OCS development with and without the proposed environmental regulations. Effects of regulations are measured in terms of an increase in compliance costs and the associated reduction in net profits from oil and gas production. The theoretical results indicate that an increase in compliance costs will alter exploration, development and production rates. The total investments in exploration and development, and oil production will decrease as a result of rising compliance costs for exploration, development and production over the entire planning period

Technology diversification, coherence, and performance of firms

NARCIS (Netherlands)

Leten, B.; Belderbos, R.A.; Looy, van B.

2007-01-01

Technological diversification at the firm level (i.e., the expansion of a firm's technology base into a wide range of technology fields) is found to be a prevailing phenomenon in all three major industrialized regions,—the United States, Europe, and Japan—prompting the term multitechnology

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...

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...

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-specific impacts of CO_2 prices on the stock market value of the Spanish power industry

International Nuclear Information System (INIS)

Pereira da Silva, Patricia; Moreno, Blanca; Figueiredo, Nuno Carvalho

2016-01-01

European Union carbon emissions allowances (EUA) price fluctuations can affect electricity companies' stock market values as these oscillations may change firms' profitability and thus investors' decisions. This outcome can differ not only contingent on the EU ETS Phase, but also on firms' generation mix. Moreover, stock markets may react differently to EUA increases in comparison to decreases, thus asymmetrically. By using daily data from January 2008 to July 2014, this article analyses long-run equilibrium relations and short-run interactions between the aggregated electricity industry stock market returns and EUA price changes. Moreover, we test if the relationship between EUA price variations and electricity stock returns is asymmetric and if the carbon price effect and the asymmetry are power firm-specific. Adding to earlier studies, we initially provide an inspection of the individual impact of EU ETS Phase II and on-going Phase III; followed by a comparative analysis between power firms which core activity relies on renewable energy sources and those whose sources are fundamentally non-renewable ones. A statistically significant positive long-run impact of EU ETS on the aggregated power sector stock market return is found concerning Phase II and works asymmetrically. Moreover, evidence is provided demonstrating that asymmetry and EUA effects are power firm-specific. - Highlights: •EU ETS impacts on stock market returns of Spanish power sector. •Long-run positive effect of EU ETS on market returns is found only in Phase II. •No short-run effects were found. •EUA price effect is company-specific.

A model for firm-specific strategic wisdom : including illustrations and 49 guiding questions

NARCIS (Netherlands)

van Straten, Roeland Peter

2017-01-01

This PhD thesis provides an answer to the question ‘How may one think strategically’. It does so by presenting a new prescriptive ‘Model for Firm-Specific Strategic Wisdom’. This Model aims to guide any individual strategist in his or her thinking from a state of firm-specific ‘ignorance’ to a state

Innovative Behaviour of High-Tech Internationalized Firms: Survey Results from Poland

Directory of Open Access Journals (Sweden)

Krzysztof Wach

2016-09-01

Full Text Available Objective: The aim of the article is to identify and verify the relationship between internationalization and innovativeness as well as innovative behaviour of high-tech businesses in Polish context. Research Design & Methods: A quantitative research design was employed. A survey was conducted on the sample of 263 firms operating in high-tech industries in Poland. To verify the assumed relationships statistical instruments were used, including descriptive statistics, Chi-Square test, the Kruskal-Wallis test and multivariate regression. Findings: The level of innovativeness of investigated hi-tech firms was relatively high. Results suggest that the innovativeness of a business contributes to the intensification of the internationalization process of firms operating in high-tech industries. The regression model confirms the dependence of internationalization on three innovative behaviours, such as the general evaluation of innovativeness of the firm, the pace of innovation diffusion and the number of implemented innovations. Implications & Recommendations: Polish high-tech businesses seem to be relatively well internationalized, especially in comparisons to general business population. Policy makers should continue to support innovativeness of Polish economy, but especia­lly these industries which are highly innovative. Contribution & Value Added: The research presented in the article seems to be one of the first in Poland investigating into internationalization and innovation in high-tech industries. The results are in line with the majority of empirical evidence worldwide. The preliminary link between innovation and internationalization among Polish high–tech businesses was confirmed.

Gauging a Firm's Innovative Performance Using an Integrated Structural Index for Patents

Directory of Open Access Journals (Sweden)

Xiaojun Hu

2016-03-01

Full Text Available Purpose: In this contribution we try to find new indicators to measure characteristics of a firm's patents and their influence on a company's profits. Design/methodology/approach: We realize that patent evaluation and influence on a company's profits is a complicated issue requiring different perspectives. For this reason we design two types of structural h-indices, derived from the International Patent Classification (IPC. In a case study we apply not only basic statistics but also a nested case-control methodology. Findings: The resulting indicator values based on a large dataset (19,080 patents in total from the pharmaceutical industry show that the new structural indices are significantly correlated with a firm's profits. Research limitations: The new structural index and the synthetic structural index have just been applied in one case study in the pharmaceutical industry. Practical implications: Our study suggests useful implications for patentometric studies and leads to suggestions for different sized firms to include a healthy research and development (R&D policy management. The structural h-index can be used to gauge the profits resulting from the innovative performance of a firm's patent portfolio. Originality/value: Traditionally, the breadth and depth of patents of a firm and their citations are considered separately. This approach, however, does not provide an integrated insight in the major characteristics of a firm's patents. The Sh(Y index, proposed in our investigation, can reflect a firm's innovation activities, its technological breadth, and its influence in an integrated way.

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

OpenAIRE

Borenstein, Severin; Farrell, Joseph

2006-01-01

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

The Impact of Technological and Non-Technological Innovations on Firm Growth

OpenAIRE

Ali-Yrkkö, Jyrki; Martikainen, Olli

2008-01-01

This study investigates the relationship between innovations and firm growth, based on the data of Finnish firms operating in the software industry. We find that in terms of turnover and employment, firms with only technological innovations do not grow more rapidly than other firms. However, firm growth is positively associated with the combination of technological and non-technological innovations.

Corporate Social Responsibility Applied for Rural Development: An Empirical Analysis of Firms from the American Continent

Directory of Open Access Journals (Sweden)

Miguel Arato

2016-01-01

Full Text Available Corporate Social Responsibility has been recognized by policymakers and development specialists as a feasible driver for rural development. The present paper explores both theoretically and empirically how firms involved in CSR provide development opportunities to rural communities. The research first evaluates the applied literature on the implementation of CSR by private firms and policymakers as means to foster sustainable rural development. The empirical research analyses the CSR activities of 100 firms from a variety of industries, sizes, and countries to determine the type of companies who are involved in rural development and the kind of activities they deployed. Results from the empirical research show that although rural development initiatives are not relevant for all types of companies, a significant number of firms from a variety of industries have engaged in CSR programs supporting rural communities. Firms appear to be interested in stimulating rural development and seem to benefit from it. This paper also includes an exploration of the main challenges and constraints that firms encounter when encouraging rural development initiatives.

Career Development Programs in Fortune 500 Firms.

Science.gov (United States)

Keller, Jack; Piotrowski, Chris

Career development programs (CDPs) are a rather recent area of study in organizational and industrial psychology. The present study investigated the nature and evaluation of CDPs in Fortune 500 firms. Data were obtained by a mailed questionnaire completed by the firms' human resources directors. Of the 500 companies surveyed, only those 50 that…

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

Science.gov (United States)

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

2008-01-01

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

Firm size structure in North American housebuilding: persistent deconcentration, 1945 - 98

OpenAIRE

Michael Buzzelli

2001-01-01

In this paper I document and analyse the evolving firm size structure of the housebuilding industry in North America since World War 2, and place it in a wider context of industrial organisation. This is done first by synthesising the literature on housebuilding, particularly secondary data, to outline the industry's firm size and market share distributions. Second, the literature is extended with new and original data on the housebuilding industry for the province of Ontario, supplied by the...

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.

The effects of firm specific factors and macroeconomics on profitability of property-liability insurance industry in Taiwan

OpenAIRE

Chen-Ying Lee

2014-01-01

This article investigates the relationship between firm specific factors and macroeconomics on profitability in Taiwanese property-liability insurance industry using the panel data over the1999 through 2009 time period. Using operating ratio and return on assets (ROA) for the two kinds of profitability indicators to measure insurers’ profitability. The results show that underwriting risk, reinsurance usage, input cost, return on investment (ROI) and financial holding group have significant in...

EFEK INTRA INDUSTRI, DAMPAK PERUSAHAAN REPORTER DAN NONREPORTER DIVIDEN TERHADAP KANDUNGAN INFORMASI

Directory of Open Access Journals (Sweden)

Emrinaldi Nur DP

2017-03-01

Full Text Available The influence of information not only for company itself which announcement company policy like financialstatement, dividend or others, but also the other company in same industry or same market. The purpose of theresearch was to investigate the information content and intra industry effect of dividend announcement. Theanalysis include four aspects: information content, risk (beta, intra industry effect of dividen by big and smallsize firms, and impact firm characteristics to abnormal return nonreporter firm.The analysis for informationcontent, risk (beta, intra industry effect used event study and for impact of firm characteristics used multiplelinier regressions.Result of this research showed that there was information content around the date of dividendannouncement, but there was no difference between abnormal return by big and small size firms. Thedifference between beta before and after dividend announcement is not significant. The difference between betabig size firms and small size firms after dividend announcement is not significant. The intra industry effect ofdividend announcement showed abnormal return with two effects: competitive effect and contagion effect. Thefirm specific characteristics used in this research were not significant to explain the fenomena intra industry.

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...

Green Shipping Practices of Shipping Firms

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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.

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)

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

DEFF Research Database (Denmark)

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

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

Proposal for the award of an industrial services contract for software support for industrial controls

CERN Document Server

2000-01-01

This document concerns the award of an Industrial Services contract for software support for industrial controls. Following a market survey carried out among 68 firms in twelve Member States, a call for tenders (IT-2711/ST) was sent on 12 April 2000 to nine firms and five consortia in eight Member States. By the closing date, CERN had received seven tenders from two firms and five consortia in six Member States. The Finance Committee is invited to agree to the negotiation of a contract with the firm GTD (ES), the lowest bidder, for an initial period of three years from 1 October 2000, for a total amount not exceeding 4 500 000 Swiss francs, not subject to revision. The contract will include an option for two one-year extensions beyond the initial three-year period. The firm has indicated the following distribution by country of the contract value covered by this adjudication proposal: ES?100%.

A risk based approach to firm evaluation applied to Dutch industries

NARCIS (Netherlands)

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

1992-01-01

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 for unexpected changes of risk factors. Subsequently, the sensitivities themselves are related to firm

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...

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

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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.

CIMOSA process classification for business process mapping in non-manufacturing firms: A case study

Science.gov (United States)

Latiffianti, Effi; Siswanto, Nurhadi; Wiratno, Stefanus Eko; Saputra, Yudha Andrian

2017-11-01

A business process mapping is one important means to enable an enterprise to effectively manage the value chain. One of widely used approaches to classify business process for mapping purpose is Computer Integrated Manufacturing System Open Architecture (CIMOSA). CIMOSA was initially designed for Computer Integrated Manufacturing (CIM) system based enterprises. This paper aims to analyze the use of CIMOSA process classification for business process mapping in the firms that do not fall within the area of CIM. Three firms of different business area that have used CIMOSA process classification were observed: an airline firm, a marketing and trading firm for oil and gas products, and an industrial estate management firm. The result of the research has shown that CIMOSA can be used in non-manufacturing firms with some adjustment. The adjustment includes addition, reduction, or modification of some processes suggested by CIMOSA process classification as evidenced by the case studies.

Operating Efficiency Evaluation of China Listed Automotive Firms: 2012–2016

Directory of Open Access Journals (Sweden)

Huichen Jiang

2018-01-01

Full Text Available As one of the important pillar industries in China, the automotive industry (i.e., the traditional vehicle and the new energy vehicle (NEV sub-industries plays a significant role in the national economy and social development. In this paper, by using the fixed assets, intangible assets, the operating expenses, and the number of employee as inputs and the operating income as output, we conduct efficiency evaluations based on data envelopment analysis (DEA and Malmquist models, and measure the efficiency of listed automotive firms with the panel data of 77 listed A-share firms spanning from 2012 to 2016, statically and dynamically. The results show that the five-year average Malmquist indices of all the listed firms slightly decreased due to the decline of the technical change and the improvement of the efficiency change. We subdivide the automotive industry into the traditional vehicle and NEV industries, and find that the NEV industry performed better than the traditional one. We combine the industry development and efficiency evaluation, and believe that the NEV will be a new driving force of the economy.

Towards quality in marketing: a small firm context

OpenAIRE

O'Shea, Josephine Ann

1994-01-01

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

Comportements des firmes et commerce international

OpenAIRE

Joël Thomas Ravix; Olivier Sautel

2007-01-01

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

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.

The Impact of Government Subsidies on Private R&D and Firm Performance: Does Ownership Matter in China’s Manufacturing Industry?

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Zhenji Jin

2018-06-01

Full Text Available Government subsidies as a policy instrument are used to alleviate market failure in research and development (R&D activities. We aim to understand the influence of government subsidies on enterprises’ R&D investment and performance. We are also interested in examining how the attributes of enterprise ownership act as a moderating variable for the relationship between government subsidies, R&D investment, and firm performance. We use firm-level data on China’s manufacturing listed companies from 2011 to 2015. The results show that receiving government subsidies improves private R&D investment and firm performance, and state-owned enterprises (SOEs can obtain more subsidies than private-owned enterprises (POEs. However, the impact of government subsidies on private R&D investment is stronger in POEs than in SOEs of China. In additional analyses, we also examine this relationship by industry, region, subsidy intensity, and R&D intensity. This study has important policy implications for regulators to improve the effectiveness of government subsidies.

Is There a Better Semiconductor Firm in Taiwan?

Directory of Open Access Journals (Sweden)

Cheng-Wen LEE

2017-06-01

Full Text Available The authors investigate the firm value of semiconductor industry in Taiwan in order to differentiate between outstanding semiconductor company and weak semiconductor company. The authors use GAP which is analytical tool to perform four steps: the original maps, sorting maps with clustering trees, summary sufficient maps, and sediment maps. The findings offer a good instruction for policymakers to make related policies in semiconductor firms. Additionally, the paper helps to find firms needed to be reformed through classification by GAP.

Factors Stimulating Internationalisation of Firms: An Attempted Holistic Synthesis

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Magdalena Belniak

2015-06-01

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

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

Science.gov (United States)

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

2009-11-01

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

Organizing Innovation within Incumbent Firms: Structure Enabling Strategic Autonomy

NARCIS (Netherlands)

van Looy, Bart; van Looy, Bart; Visscher, Klaasjan

2011-01-01

In this paper we will discuss how large established firms can be effective in organizing innovation alongside their current business. We examine the trajectory of an incumbent firm in the telecommunication industry – Alcatel – which has been successful in exploring and exploiting the promises of

Factors Affecting Corporate Cash Holding of Non-Financial Firms in Pakistan

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Atif Kafayat

2014-06-01

Full Text Available The previous researches explore the question of why firms hold cash. But there are few researches done in developing countries like Pakistan. The need for cash is characterized by its policies of firms regarding capital structure, working capital requirements, cash flow management, dividend payments, and asset management. In this paper, the impact of these factors is normally analyzed under the framework of Tradeoff theory, Pecking Order Theory and Free Cash Flow Theory. This paper focuses on determining the level of corporate cash holdings of non-financial Pakistani firms, and cash holding requirement among different industries. The data is set for period of 2008- 2012 by using the data of 40companies and 6 industries. The findings of the study support the theories. Which show that firm size, net working capital, leverage, Capital Expenditure and Dividend significantly affect the cash holdings of non-financial firms in Pakistan.

DOES FIRM DIVERSIFICATION REPRESENT A VALUE ADDED FOR STOCKHOLDERS?

OpenAIRE

Juan Otero-Serrano

2011-01-01

This study empirically tests the effect of diversification on firm performance, controlling for factors influencing returns other than diversification. This study also investigates if the diversification effect has the same impact on firm performance at different points in time. The sample used consists of all firms with available data from Compustat Industry Segment Database and Research Files for the period between 1979 and 2006. Carhart (1997) four-factor model results suggest that diversi...

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

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

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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

How Third-Party CSR Evaluation Matters: Keeping Up with Rivals in CSR Performance Ratings of Korean Firms, 2011–2015

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Eunjung Hyun

2017-11-01

Full Text Available Does corporate social responsibility (CSR evaluation by third-party entities (i.e., external agencies, including civic organizations affect the CSR performance of firms? This article explores the question of whether and how third-party CSR ratings change the subsequent CSR behavior and hence performance of rated firms. Combining insights from the research on ratings/rankings and a behavioral theory of firms, we hypothesize that firms with large negative CSR rating gaps—i.e., CSR ratings below the industry average—are more prone to improving their subsequent CSR behavior, and hence performance ratings, than those with small negative gaps, because of the desire to avoid being viewed as CSR laggards relative to their industry rivals. As a result, efforts are directed at enhancing CSR performance. Empirical support for this conjecture is found through random effect regression analyses of publicly listed firms in Korea that were rated by the KEJI (Korean Economic Justice Institute during 2011–2015 with respect to multiple dimensions of CSR. Further results show that the positive effect of negative CSR rating gaps on subsequent CSR ratings appears only in the firms without well-established reputations, suggesting the possibility that firms with weak reputations have stronger incentives to keep up with other industry incumbents in CSR performance ratings than their counterparts.

Water Reuse in Brazilian Manufacturing Firms

OpenAIRE

José Féres; Arnaud Reynaud; Alban Thomas

2015-01-01

This paper examines the factors influencing water reuse in manufacturing firms and analyzes whether the structure of intake water demand differs between firms that adopt water reuse practices and those which do not. To this purpose, we estimate a two-stage econometric model based on a sample of 447 industrial facilities located in the Paraíba do Sul river basin. The first stage applies a probit model for the water reuse decision and the second stage employs an endogenous switching regression ...

Industrial leadership in Science-based Industries. A co-evolution model

OpenAIRE

Fatas-Villafranca , Francisco; Jarne , Gloria; Sanchez-Choliz , Julio

2009-01-01

Abstract In this paper, we seek to analyse the role of national university systems in combination with technological and market factors as sources of industrial leadership and industry growth in sciencebased industries. We propose a model in which national university systems and their respective national firms and industries are considered as co-evolving. National firms compete on a worldwide level and they rely on the progress of science and the availability of scientists to innov...

Multinational Firms and the Management of Global Networks

DEFF Research Database (Denmark)

De Marchi, Valentina; Maria, Eleonora Di; Ponte, Stefano

2014-01-01

This paper aims at enriching the literature on international business (IB) studies to include insights from Global Value Chain (GVC) analysis to better explain how MNCs can orchestrate a global network organization. A first important contribution of the GVC literature is that it shifts the focus...... from single firms to their value chains, providing instruments to study how activities are split and organized among different firms at the industry level, and how MNCs can implement different governing mechanisms within a network-based setting. The GVC literature also highlights that retailers (as...... can manage their network relationships in a global scenario. Finally, through their focus on upgrading, GVC studies suggest that knowledge flows and innovation dynamics taking place within value chains are as important as those taking place within the MNC’s organizational border. We conclude...

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...

Competitive Intelligence Practices And Their Effect on Profitability of Firms In The Kenyan Banking Industry

Directory of Open Access Journals (Sweden)

JOHN KARANJA NGUGI

2013-07-01

Full Text Available The rapidly changing business climate created by advances in technologies, economic and social changes as well as fast-shortening product life cycles, which lead to hyper-competition, demands that firms embrace competitive intelligence as a strategy. This study sought to fill the existing knowledge gap by carrying out an investigation of competitive intelligence practices for greater profitability in the commercial banking industry in Kenya. The management staffs who directly deal with the day to day management of the banks were selected to collect primary data. The study concludes that adoption of competitive intelligence practices affect the profitability of the banking sector.

Tensions Between Firm Size and Sustainability Goals: Fair Trade Coffee in the United States

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Philip H. Howard

2013-01-01

Full Text Available Sustainability marketing trends have typically been led by smaller, more mission-driven firms, but are increasingly attracting larger, more profit-driven firms. Studying the strategies of firms that are moving away from these two poles (i.e., mission-driven but larger firms, and profit-driven firms that are more committed to sustainability may help us to better understand the potential to resolve tensions between firm size and sustainability goals. We used this approach to analyze a case study of the U.S. fair trade coffee industry, employing the methods of data visualization and media content analysis. We identified three firms that account for the highest proportion of U.S. fair trade coffee purchases (Equal Exchange, Green Mountain Coffee Roasters and Starbucks and analyzed their strategies, including reactions to recent changes in U.S. fair trade standards. We found an inverse relationship between firm size and demonstrated commitment to sustainability ideals, and the two larger firms were much less likely to acknowledge conflicts between size and sustainability in their public discourse. We conclude that similar efforts to increase sustainability marketing for other products and services should be more skeptical of approaches that rely on primarily on the participation of large, profit-driven firms.

Does Input Quality Drive Measured Differences in Firm Productivity?

DEFF Research Database (Denmark)

Fox, Jeremy T.; Smeets, Valerie Anne Rolande

2011-01-01

One explanation for productivity dispersion is that the quality of inputs differs across firms. We add labor market history variables such as experience and firm and industry tenure, as well as general human capital measures such as schooling and sex. Adding these variables decreases the ratio...... of the 90th to 10th productivity quantiles from 3.27 to 2.68 across eight Danish manufacturing and service industries. We also use the wage bill and worker fixed effects. We find that the wage bill explains as much dispersion as human capital measures....

BIM Investment, Returns, and Risks in China’s AEC Industries

OpenAIRE

Jin, R; Hancock, CM; Tang, L; Wanatowski, D

2017-01-01

Building information modeling (BIM), the emerging digital technology, is undergoing increasing application in developing countries including China. Both the governmental policy and industry motivation have indicated that BIM is becoming the mainstream innovation in China’s construction industry. Nevertheless, one major concern lies in the uncertainty of BIM investment for architecture, engineering, and construction (AEC) firms. Specifically, AEC firms should have the knowledge of areas BIM in...

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

DEFF Research Database (Denmark)

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

2002-01-01

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

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

Directory of Open Access Journals (Sweden)

Borja Amor-Tapia

2014-01-01

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

Innovation Networks: the Contribution of Partnerships to Innovative Performance of Firms in the Brazilian Electrical-Electronics Industry

Directory of Open Access Journals (Sweden)

Silvye Ane Massaini

2015-01-01

Full Text Available Innovation networks have been identified in the literature as a way to complement firms’ innovative capabilities through collaboration with other partners. To provide empirical evidence for this assertion, this paper investigates the contribution of partners established in innovation networks for innovative performance of firms in the Brazilian electricalelectronics industry. For this purpose, we carried out an exploratory and descriptive survey among 185 companies. The data were analyzed using structural equation modeling (SEM. As the main findings, we observed that the establishment of collaborative relationships with customers, competitors and universities/research institutions can contribute to organizational and process innovation. However, despite obtaining some significant results concerning the contribution of different partners in the network, electrical-electronics industry companies also attach great importance to internal activities to develop their innovations.

Prospects for geothermal commercialization in the greenhouse industry

Energy Technology Data Exchange (ETDEWEB)

Bressler, S.E.; Hanemann, W.M.

1980-03-01

A number of areas considered directly relevant to a particular greenhouse firm's decision to use or not to use geothermal energy for its commercial needs are emphasized. These areas include: current fuel uses and problems, and future fuel concerns; firm decision-making processes, including managerial and financing conventions; perceived commercial potential for geothermal energy in the industry; the potential institutional framework for user involvement in geothermal development; and the role that government might most effectively play in stimulating user development. The results are based upon extensive personal interviews with decision-makers in the industry. (MHR)

Hospitality Management: Perspectives from Industry Advisor

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Rachel Roginsky

2013-07-01

Full Text Available In prior quarterly reports, Pinnacle Advisory Group presented timely updates about the New England lodging industry, which included focused profiles on particular cities. In this issue, the firm offers more general insight about the hospitality industry. Several Pinnacle executives recently participated in a panel discussion about investment, management, and careers in the hospitality industry.

Labour flows in a simulation model of the firm

OpenAIRE

Butter, F.A.G. den; Gameren, E. van

1998-01-01

A hierarchical model is calibrated and used to illustrate labour market flows within a firm. The model establishes a link between the models of the firm from the literature on industrial organisation and the description of labour market dynamics in the flow approach to labour markets. It describes the decision of the personnel management of the firm whether to fire workers, and/or whether to hire workers from the internal or external labour market. The decision is based on firing costs, hirin...

Auditor human capital and audit firm survival - The Dutch audit industry in 1930-1992

NARCIS (Netherlands)

Brocheler, [No Value; Maijoor, S; van Witteloostuijn, A; Bröcheler, V.

2004-01-01

This paper studies the relationship between auditor human capital and audit firm survival. Specifically, the effects are investigated of the human capital of auditors on the survival chances of newly established audit firms. Human capital is analyzed both at the time of entry of a new audit firm and

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

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Sinem Celik Girgin

2018-01-01

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

Introducing Academic Skills in Know-how-based Firms

DEFF Research Database (Denmark)

Nielsen, René Nesgaard

This paper contributes with two new findings to the literature on how universities contribute to industrial development. First, it argues and substantiates quantitatively through logistic regression models that introduction of academically skilled graduates in small, know-how-based firms can...... with more than directly applicable information and technologies. And, academically skilled graduates are not only relevant in technological R&D departments of science-based firms....

Firm-size distribution and price-cost margins in Dutch manufacturing

NARCIS (Netherlands)

Y.M. Prince (Yvonne); A.R. Thurik (Roy)

1993-01-01

textabstractIndustrial economists surmise a relation between the size distribution of firms and performance. Usually, attention is focused on the high end of the size distribution. The widely used 4-firm seller concentration, C4, ignores what happens at the low end of the size distribution. An

Dynamic Embeddedness in Chinese Firm Internationalization

DEFF Research Database (Denmark)

Lattemann, Christoph; Alon, Ilan; Spigarelli, Francesca

2017-01-01

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

Production, depreciation and the size distribution of firms

Science.gov (United States)

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

2008-05-01

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

Workplace Learning and Its Organizational Benefits for Small Enterprises: Evidence from Greek Industrial Firms

Science.gov (United States)

Panagiotakopoulos, Antonios

2011-01-01

Purpose: The purpose of this study is to explore small firm owners' perceptions of the impact of employee training on small firm competitiveness in the context of Greece. Design/methodology/approach: The research adopts a qualitative orientation. Empirical data were collected from 43 owners of small and micro-firms operating in various sectors of…

THE CHARACTERISTICS OF SMALL FIRMS THAT SERVE AS OWNERS’ “PRIMARY EMPLOYMENT”

Directory of Open Access Journals (Sweden)

HALIL DINCER KAYA

2017-02-01

Full Text Available Our objective in this study is to examine the relation between firm characteristics and entrepreneurship as “primary employment”. What type of small firms are organized in a way to promote “primary employment”? In order to achieve that objective, we compare firm characteristics in high “primary employment” U.S. states versus in low “primary employment” states. We use the “United States Small Business Friendliness Survey” done by Kauffman Foundation and Thumptack.com in 2013. Our nonparametric tests show that in the states where relatively high percentage of owners have their business as “primary employment” (i.e. “high primary employment states”, firms tend to be limited in their operational area (i.e. operate only in that state although their sales are less local (meaning that they focus on other areas in their state rather than their own locale. In these states, while more firms are in the “home maintenance and repair” industry, fewer firms operate in the “events” industry. We also find that there is no significant difference between high- and low-primary employment states in terms of firm age and firm size. We advise policymakers to use these findings when formulating policies that support entrepreneurship as “primary employment”.

Intra-industry adjustment to import competition: theory and application to the German clothing industry

OpenAIRE

Raff, Horst; Wagner, Joachim

2009-01-01

This paper uses an oligopoly model with heterogeneous firms to examine how an industry adjusts to rising import competition. The model predicts that in the short run the least efficient firms in the industry become inactive, surviving firms face a fall in output, mark-ups and profits, and the average productivity of survivors increases. These pro-competitive effects of import penetration on the domestic industry disappear in the long run. The predictions for the short run are confirmed in an ...

Upgradation of Bangladeshi Apparel firms in the Global Value Chain

DEFF Research Database (Denmark)

Islam, Md.Tarikul; Bakhtiar Rana, Mohammad

The study investigates the knowledge spill-over from the TNCs to supplier-firms in the apparel industry in Bangladesh. Study finds that dynamic capability of the entrepreneurs and the absorptive capacity of the employees enable firms to upgrade their position from CMT (cut-make-trim) to ODM (own...

Firm-level determinants of energy and carbon intensity in China

International Nuclear Information System (INIS)

Cao, Jing; Karplus, Valerie J.

2014-01-01

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

An exploration study to detect important factors influencing insurance firms

Directory of Open Access Journals (Sweden)

Farzaneh Soleimani

2013-11-01

Full Text Available The recent trend on competition among insurance firms has increased motivation to look for important factors influencing this industry. In this paper, we present an empirical investigation to find important factors shaping this industry. The proposed study designs a questionnaire in Likert scale and, using principal component analysis, detects important factors on the success of this industry. Cronbach alpha is calculated as 0.849, and Kaiser-Meyer-Olkin and Bartlett's Test are calculated as 0.873 and 12744 with (Sig. =0.000, respectively. The study has detected four important factors including quality of service casualties, sales improvement and advertisement, quality of issuance of insurance policies and quality of work force.

Measuring business dynamics among incumbent firms in The Netherlands

NARCIS (Netherlands)

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

2008-01-01

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

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...

Top Management Team Nationality Diversity and Firm Performance

DEFF Research Database (Denmark)

Nielsen, Bo Bernhard; Nielsen, Sabina

2013-01-01

This research reexamines the equivocal relationship between top management team (TMT) diversity and firm performance. Combining upper echelons theory with insights from institutional theory, we establish a new, timely dimension of TMT diversity—nationality diversity—and develop an integrated...... generally, our research demonstrates that the consequences of TMT diversity depend on the (1) specific attributes of diversity being considered and (2) firm and industry conditions under which strategic decisions take place....

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

DEFF Research Database (Denmark)

Distel, Andreas Philipp

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

Ethiopian-owned firms in the floriculture global value chain

DEFF Research Database (Denmark)

Melese, Ayelech Tiruwha

and export trajectories of Ethiopian-owned firms engaged in cut-flower production for export. It constructs a technological capability matrix that describes the specific capabilities required to enter and operate in different parts of the floriculture global value chain, adjusted for the specificities...... of the Ethiopian industry, and uses this matrix to design a local firm survey to assess firms’ capabilities across four categories: product and production process, input integration, linkages and end-market. The survey was carried out with almost all local firms. The aggregate technological capability scores show...

Tax Responses in Platform Industries

DEFF Research Database (Denmark)

Kind, Hans Jarle; Köthenbürger, Marko; Schjelderup, Guttorm

that a higher ad valorem tax may undermine a firm's incentive to differentiate its product from that of its competitors. Finally, we demonstrate that the effects of increasing specific taxes may be the opposite of those of increasing value added taxes....... price and thus buy less of the good. The present paper shows that this result need not hold in a two-sided market. On the contrary, a higher ad valorem tax may lower end-user prices and spur sales. Thus, two-sided platform firms may not at all engage in tax shifting via price increases. We further show......Two-sided platform firms serve distinct customer groups that are connected through interdependent demand, and include major businesses such as the media industry, banking, and the software industry. A well known result of tax incidence is that consumers of a more heavily taxed good pay a higher...

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

Directory of Open Access Journals (Sweden)

Liping Xu

2017-06-01

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

The Small Firm Effect and the Quality of Entrepreneurs

DEFF Research Database (Denmark)

Chen, Jing

of this alternative explanation, versus the existing theories for the small firm effect, this paper examines the persistence of the small firm effect on new business survival and the founders’ post-entry occupational choice. Using employer-employee matched panel data obtained from Statistics Denmark, I find...... that the size of entrepreneurs’ prior employers continues to have a negative correlation with the survival of startups for the first three years, but the size effect gradually fades away afterwards. The magnitude of the correlation is largely reduced if the new businesses were formed in sectors...... barriers of entry in sectors clustered by small firms, while related industry experience further facilitates the transition into self-employment for small firm employees....

Visit of UK firms at CERN

CERN Multimedia

FP Department

2011-01-01

24 – 25 NOVEMBER 2011 09h00 to 17h00 Thursday 24 November 09h00 to 17h00 Friday 25 November Individual interviews will take place in technicians’ offices. The firms will contact relevant users/technicians but any user wishing to make contact with a particular firm is welcome to use the contact details which are available from each secretariat of department or from the GS Department web pages at the following URL: http://gs-dep.web.cern.ch/en/content/Industrial-Exhibitions List of Companies: • AWS Electronics • Cryogenic • Hytec Electronics • Industrial Electronic Wiring • M G Sanders • MDC Vacuum • MM Microwave • Premier Building and Engineering • Russel Ductile Castings • Tadley Engineering • NDSL For further information please contact Claudia Bruggmann Furlan GS-IS-LS 73312 or Caroline Laignel GS-DI 73722.

COMPARABLE VALUATION METHOD A NEW APPROACH. CASE STUDY: A ROMANIAN FLEXOGRAPHIC PRINTING FIRM

Directory of Open Access Journals (Sweden)

Kovacs Imola

2010-12-01

Full Text Available This study presents the valuation scheme of a flexographic printing industry firm. The industry, the technology used and most importantly the firm being young ones, it is not possible to use the classical comparable valuation methods. The new approach in this matter is to use as benchmark financial ratios not those related to the price of the firm (as P/E, P/S, P/BV, P/CF, P/CAPEX, but those related to the structure of the income statement, financial and operating leverage using 13 Romanian and 6 Hungarian reference firms data. Our main contribution to this line of research is to solve the problem of lack of reference data regarding the price, the benchmark companies not being listed on any stock exchange.

Scale-free models for the structure of business firm networks.

Science.gov (United States)

Kitsak, Maksim; Riccaboni, Massimo; Havlin, Shlomo; Pammolli, Fabio; Stanley, H Eugene

2010-03-01

We study firm collaborations in the life sciences and the information and communication technology sectors. We propose an approach to characterize industrial leadership using k -shell decomposition, with top-ranking firms in terms of market value in higher k -shell layers. We find that the life sciences industry network consists of three distinct components: a "nucleus," which is a small well-connected subgraph, "tendrils," which are small subgraphs consisting of small degree nodes connected exclusively to the nucleus, and a "bulk body," which consists of the majority of nodes. Industrial leaders, i.e., the largest companies in terms of market value, are in the highest k -shells of both networks. The nucleus of the life sciences sector is very stable: once a firm enters the nucleus, it is likely to stay there for a long time. At the same time we do not observe the above three components in the information and communication technology sector. We also conduct a systematic study of these three components in random scale-free networks. Our results suggest that the sizes of the nucleus and the tendrils in scale-free networks decrease as the exponent of the power-law degree distribution lambda increases, and disappear for lambda>or=3 . We compare the k -shell structure of random scale-free model networks with two real-world business firm networks in the life sciences and in the information and communication technology sectors. We argue that the observed behavior of the k -shell structure in the two industries is consistent with the coexistence of both preferential and random agreements in the evolution of industrial networks.

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

Directory of Open Access Journals (Sweden)

Jefferson Marlon Monticelli

2017-08-01

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

Essays on measurement and evaluation of demand side management programs in the electricity industry, and impacts of firm strategy on stock price in the biotechnology industry

Science.gov (United States)

Bandres Motola, Miguel A.

Essay one estimates changes in small business customer energy consumption (kWh) patterns resulting from a seasonally differentiated pricing structure. Econometric analysis leverages cross-sectional time series data across the entire population of affected customers, from 2007 through the present. Observations include: monthly energy usage (kWh), relevant customer segmentations, local daily temperature, energy price, and region-specific economic conditions, among other variables. The study identifies the determinants of responsiveness to seasonal price differentiation. In addition, estimated energy consumption changes occurring during the 2010 summer season are reported for the average customer and in aggregate grouped by relevant customer segments, climate zone, and total customer base. Essay two develops an econometric modeling methodology to evaluate load impacts for short duration demand response events. The study analyzes time series data from a season of direct load control program tests aimed at integrating demand response into the wholesale electricity market. I have combined "fuzzy logic" with binary variables to create "fuzzy indicator variables" that allow for measurement of short duration events while using industry standard model specifications. Typically, binary variables for every hour are applied in load impact analysis of programs dispatched in hourly intervals. As programs evolve towards integration with the wholesale market, event durations become irregular and often occur for periods of only a few minutes. This methodology is innovative in that it conserves the degrees of freedom in the model while allowing for analysis of high frequency data using fixed effects. Essay three examines the effects of strategies, intangibles, and FDA news on the stocks of young biopharmaceutical firms. An event study methodology is used to explore those effects. This study investigates 20,839 announcements from 1990 to 2005. Announcements on drug development

European Consulting Survey 2012 : The Future of European Management Consulting Firms' Business Models

OpenAIRE

Kreutzer, Markus; Menz, Markus

2012-01-01

This study report provides European management consulting firms' assessment of trends and currently prevailing business models in the industry. It depicts the different threats and opportunities that consulting firms with different business models, consulting foci, sizes, leverage ratios, international orientations, and geographical footprints face; it also reveals these firms' adaptation strategies. Based on an analysis of a survey of 311 consulting firms from 26 European countries, the repo...

The firm-nature relationship

DEFF Research Database (Denmark)

Ulhøi, John Parm; Madsen, Henning

2005-01-01

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

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...

Prospecting theoretical approaches to understand internationalization of creative economy firms

Directory of Open Access Journals (Sweden)

Sílvio Luís de Vasconcellos

2017-12-01

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

Enzymatic firming of processed red pepper by means of exogenous pectinesterase

DEFF Research Database (Denmark)

Jensen, M.; Petersen, B.R.; Adler-Nissen, Jens

2004-01-01

The objective of this investigation was to demonstrate that the firmness of a commercial vegetable product, diced and frozen red pepper (Capsicum annum var. Sendt), could be improved by the use of exogenous pectinesterase in an industrially relevant process. The diced pepper pieces 10 x 10 x 7 mm(3......) were infused under vacuum with a commercially available pectinesterase. The range of optimal process conditions was: 15-20degrees C, 45 min infusion time, a 10-25 mM CaCl2 infusion brine, a w/w ratio of pepper fruit to infusion brine of 1.5:1, and an enzyme dosage of 30-60 pectinesterase units (PEU......) per kg pepper fruit. The firmness as measured by back extrusion was improved by a factor of two to three. The effect of firming was robust and conserved after freezing and heating in a simulated household cooking process. The firming process seems easily adaptable to industrial conditions and may...

Factors Affecting the Survival of SMEs: A Study of Biotechnology Firms in South Korea

Directory of Open Access Journals (Sweden)

Kwangsoo Shin

2017-01-01

Full Text Available Past studies examining survival factors of biotechnology firms have focused on pioneer countries, such as the USA, the UK and Germany. However, as the biotechnology industry in Asia is reaching the take-off stage and showing a high growth rate, the research on survival factors in the context of Asian latecomers is needed. The present research investigates internal and external factors affecting the survival of SMEs (Small and Medium-sized Enterprises in the biotechnology industry in South Korea. The Cox hazard model was employed to perform a robust estimation in survival analysis. The analysis of internal factors showed that the origin of a firm (i.e., having prior experience or spin-offs and the business sub-sector (i.e., platform-based affect the hazard rates of biotechnology firms. In terms of external factors, unlike strategic alliances, government R&D funding lowered hazard rates for the firm’s survival. Additionally, considering that the reasons of firm exit can be divided into bankruptcy and M&A (Mergers and Acquisitions, the different effects of origins from other firms and strategic alliance for firm survival are confirmed. The results suggest that prior experience, platform-based and constant government R&D funding contribute to the sustainable development of SMEs in the biotechnology industry.

Development of ion/proton beam equipment for industrial uses

Energy Technology Data Exchange (ETDEWEB)

Choi, Byung Ho; Lee, J. H.; Cho, Y. S.; Joo, P. K.; Kang, S. S.; Song, W. S.; Kim, H. J.; Chang, G. H.; Bang, S. W

1999-12-01

KAERI has possessed design and fabrication technologies of various ion sources including Duoplasmatron and DuoPiGatron developed by R and D projects of the long-term nuclear technology development program. In order to industrialize ion beam equipments utilizing these ion sources, a technology transfer project for a technology transfer project for a domestic firm has been performed. Under this project, engineers of the firm have been trained through classroom lectures of ion beam principles and OJT, an ion/proton beam equipment (DEMO equipment) has been designed, assembled and commissioned jointly with the engineers. Quality of the ion sources has been quantified, and technologies for ion beam equipment construction, functional test and application research have been developed. The DEMO equipment, which consists of an ion source, power supplies, vacuum, cooling and target systems, has been fabricated and tested to secure stability and reliability for industrial uses. Various characteristic tests including high voltage insulation, beam extraction, beam current measuring, etc. have been performed. This DEMO can be utilized for ion sources development as well as ion beam process development for various industrial products. Engineers of the firm have been trained for the industrialization of ion beam equipment and joined in beam application technology development to create industrial needs of beam equipment. (author)

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...

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...

A sustainability assessment system for Chinese iron and steel firms

DEFF Research Database (Denmark)

Long, Yunguang; Pan, Jieyi; Farooq, Sami

2016-01-01

from financial and sustainability reports of four leading Chinese iron and steel firms. The proposed sustainable assessment system is envisaged to help Chinese iron and steel firms to objectively investigate their sustainability performance, provide clear and effective information to decision makers......The environmental impact of the Chinese iron and steel industry is huge due to its high consumption of ore, coal and energy, and water and air pollution. It is important not only for China but also for the rest of the world that the Chinese iron and steel industry becomes more sustainable....... A sustainable assessment indicator system is an important tool to support that development. Currently, however, a sustainable assessment system, specifically designed to match the characteristics of Chinese iron and steel firms, is not available. In this paper such a system is proposed and evaluated using data...

The Influence of Employee Share Ownership Schemes on Firm Performance: the Case of Zimbabwean Firms

Directory of Open Access Journals (Sweden)

Maxwell Sandada

2016-04-01

Full Text Available The purpose of this study was to examine the influence of employee share ownership schemes on firm performance in the case of Zimbabwean companies. The study sought to provide valuable insights on the influence of this initiative on employee productivity and organisational performance in Zimbabwe. A cross sectional design was employed to collect data from Confederation of Zimbabwe Industry listed companies using simple random sampling. The study revealed that financial benefits from EOSs, employee participation, ECOS communication and percentage of shareholding have a significant positive relationship with firm performance. The study has important implications for the implementation and management of ESOs in the context of a development country such as Zimbabwe.

Intensity of rivalry in Czech furniture production industry

OpenAIRE

Lucie Špačková; Pavel Žufan

2012-01-01

The paper focuses on furniture production industry in the Czech Republic and evaluates the influence of competition forces within this industry. These forces have a direct impact on success of competitive strategies of the firms. Furniture production industry is a typical branch occupied by numerous small and medium-sized firms. Small firms aim on satisfying domestic (or rather local) demand, medium-sized and big firms are much more aiming on exports. The methodical sources for evaluation of ...

The Role of Production Topology in Information Based Structuring of Organizations : The design of craft-based and industrialized construction firms

OpenAIRE

Gerth, Robert

2013-01-01

Industrialization of construction is a business strategy to significantly improve competitiveness. However, the organization structure of the construction firms needs to support the new production system. The knowledge on why and how this business development can be accomplished is scarce, both within academia and in business practice. This research seeks to fill this knowledge gap. The purpose of organization structure and the production system have is to coordinate the firm’s processes and ...

Firm-Specific Foreign Exchange Exposure Identification

DEFF Research Database (Denmark)

Aabo, Tom; Brodin, Danielle

2014-01-01

Previous studies have used the stock market approach to find the aggregate number of (firms with) foreign exchange exposures in a given country, region, or industry. Methodologies have differed in many aspects but two of the most basic differences relate to observation frequency and the choice...

Critical successful factors for innovation in vietnamese firms

Directory of Open Access Journals (Sweden)

Tran Hoai Nam

2017-09-01

Full Text Available Purpose: Innovation is considered as a core element of sustainable competitive advantage in the rapidly changing environment. However, in Vietnam, researches on innovation are very rare, which are mostly general reports without underlying analyses of innovation in firms, especially determinants for innovation. Therefore, this paper focuses on analyzing critical successful factors for innovation in Vietnamese firms.  Design/methodology/approach: This study used primary data through questionnaire survey from November 2015 to February 2016. Respondents were senior managers of firms located mostly at Hanoi (Northern, Hochiminh (Southern and Danang city (Central. The questionnaire included multi-items designed to measure factors. Each item was measured by 5 point Likert scale: 1 (strongly disagree to 5 (strongly agree. Questionnaires were administerd to 500 firms belonging to list of Vietnam Chamber of Commerce and Industry (VCCI in these three cities with rate of 40% (Hochiminh city, 40% (Hanoi city and Danang (20%. However, there were 360 returned questionnaires and valid to next analyses. Analysis methodologies of reliability, factor analysis and regression are utilized in this paper.  Findings: We developed and tested a model of determinants for Innovation in Vietnamese firms. The major contribution of this study is testing six determinants for innovation in Vietnamese companies. The results showed that awareness of innovation, innovation strategy and policy, organization for innovation, HR for innovation and building capabilities have positive impact on innovation.  Originality/value: This study makes a contribution for both academics and practitioners. For academics, this study provided one more empirical evidence of the determinants for innovation. Regarding practical implications, this study suggests that Vietnamese companies have to strengthen capabilities for employees through training, encourage generation of new ideas, rule breaking

Critical successful factors for innovation in vietnamese firms

Energy Technology Data Exchange (ETDEWEB)

Tran Hoai Nam; Nham Phong Tuan; Nguyen Van Minh

2017-07-01

Innovation is considered as a core element of sustainable competitive advantage in the rapidly changing environment. However, in Vietnam, researches on innovation are very rare, which are mostly general reports without underlying analyses of innovation in firms, especially determinants for innovation. Therefore, this paper focuses on analyzing critical successful factors for innovation in Vietnamese firms. Design/methodology/approach: This study used primary data through questionnaire survey from November 2015 to February 2016. Respondents were senior managers of firms located mostly at Hanoi (Northern), Hochiminh (Southern) and Danang city (Central). The questionnaire included multi-items designed to measure factors. Each item was measured by 5 point Likert scale: 1 (strongly disagree) to 5 (strongly agree). Questionnaires were administerd to 500 firms belonging to list of Vietnam Chamber of Commerce and Industry (VCCI) in these three cities with rate of 40% (Hochiminh city), 40% (Hanoi city) and Danang (20%). However, there were 360 returned questionnaires and valid to next analyses. Analysis methodologies of reliability, factor analysis and regression are utilized in this paper. Findings: We developed and tested a model of determinants for Innovation in Vietnamese firms. The major contribution of this study is testing six determinants for innovation in Vietnamese companies. The results showed that awareness of innovation, innovation strategy and policy, organization for innovation, HR for innovation and building capabilities have positive impact on innovation. Originality/value: This study makes a contribution for both academics and practitioners. For academics, this study provided one more empirical evidence of the determinants for innovation. Regarding practical implications, this study suggests that Vietnamese companies have to strengthen capabilities for employees through training, encourage generation of new ideas, rule breaking, and innovative behaviors by

Critical successful factors for innovation in vietnamese firms

International Nuclear Information System (INIS)

Tran Hoai Nam; Nham Phong Tuan; Nguyen Van Minh

2017-01-01

Innovation is considered as a core element of sustainable competitive advantage in the rapidly changing environment. However, in Vietnam, researches on innovation are very rare, which are mostly general reports without underlying analyses of innovation in firms, especially determinants for innovation. Therefore, this paper focuses on analyzing critical successful factors for innovation in Vietnamese firms. Design/methodology/approach: This study used primary data through questionnaire survey from November 2015 to February 2016. Respondents were senior managers of firms located mostly at Hanoi (Northern), Hochiminh (Southern) and Danang city (Central). The questionnaire included multi-items designed to measure factors. Each item was measured by 5 point Likert scale: 1 (strongly disagree) to 5 (strongly agree). Questionnaires were administerd to 500 firms belonging to list of Vietnam Chamber of Commerce and Industry (VCCI) in these three cities with rate of 40% (Hochiminh city), 40% (Hanoi city) and Danang (20%). However, there were 360 returned questionnaires and valid to next analyses. Analysis methodologies of reliability, factor analysis and regression are utilized in this paper. Findings: We developed and tested a model of determinants for Innovation in Vietnamese firms. The major contribution of this study is testing six determinants for innovation in Vietnamese companies. The results showed that awareness of innovation, innovation strategy and policy, organization for innovation, HR for innovation and building capabilities have positive impact on innovation. Originality/value: This study makes a contribution for both academics and practitioners. For academics, this study provided one more empirical evidence of the determinants for innovation. Regarding practical implications, this study suggests that Vietnamese companies have to strengthen capabilities for employees through training, encourage generation of new ideas, rule breaking, and innovative behaviors by

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...

Visit of Danish firms at CERN

CERN Multimedia

GS Department

2012-01-01

30 – 31 JANUARY 2012 09h00 to 17h00 Monday 30 January 09h00 to 17h00 Tuesday 31 January Individual interviews will take place in technicians’ offices. The firms will contact relevant users/technicians but any user wishing to make contact with a particular firm is welcome to use the contact details which are available from each secretariat of department or from the GS Department web pages at the following URL http://gs-dep.web.cern.ch/en/content/Industrial-Exhibitions List of Companies: Axcon APS BB Electronics A/S B.Rustfrit Stal A/S CIM Industrial Systems A/S Danfysik A/S Develco A/S Eletronic A/S GPV Group Innoware A/S JLI Vision A/S NECAS A/S NKT Cables A/S Noliac A/S Röttger’s Vaerktoj A/S   For further information please contact Claudia Bruggmann Furlan  GS-IS-LS 73312 or Caroline Laignel GS-DI 73722.

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

Science.gov (United States)

Khan, Syed Abdul Rehman; Qianli, Dong

2017-07-01

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

Real Time Pricing and the Real Live Firm

Energy Technology Data Exchange (ETDEWEB)

Moezzi, Mithra; Goldman, Charles; Sezgen, Osman; Bharvirkar, Ranjit; Hopper, Nicole

2004-05-26

Energy economists have long argued the benefits of real time pricing (RTP) of electricity. Their basis for modeling customers response to short-term fluctuations in electricity prices are based on theories of rational firm behavior, where management strives to minimize operating costs and optimize profit, and labor, capital and energy are potential substitutes in the firm's production function. How well do private firms and public sector institutions operating conditions, knowledge structures, decision-making practices, and external relationships comport with these assumptions and how might this impact price response? We discuss these issues on the basis of interviews with 29 large (over 2 MW) industrial, commercial, and institutional customers in the Niagara Mohawk Power Corporation service territory that have faced day-ahead electricity market prices since 1998. We look at stories interviewees told about why and how they respond to RTP, why some customers report that they can't, and why even if they can, they don't. Some firms respond as theorized, and we describe their load curtailment strategies. About half of our interviewees reported that they were unable to either shift or forego electricity consumption even when prices are high ($0.50/kWh). Reasons customers gave for why they weren't price-responsive include implicit value placed on reliability, pricing structures, lack of flexibility in adjusting production inputs, just-in-time practices, perceived barriers to onsite generation, and insufficient time. We draw these observations into a framework that could help refine economic theory of dynamic pricing by providing real-world descriptions of how firms behave and why.

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.

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....

Tax responses in platform industries

DEFF Research Database (Denmark)

Kind, Hans Jarle; Köthenbürger, Marko; Schjelderup, Guttorm

2010-01-01

that a higher ad valorem tax may undermine a firm's incentive to differentiate its product from that of its competitors. Finally, we demonstrate that the effects of increasing specific taxes may be the opposite of those of increasing value added taxes....... price and thus buy less of the good. The present paper shows that this result need not hold in a two-sided market. On the contrary, a higher ad valorem tax may lower end-user prices and spur sales. Thus, two-sided platform firms may not at all engage in tax shifting via price increases. We further show......Two-sided platform firms serve distinct customer groups that are connected through interdependent demand, and include major businesses such as the media industry, banking, and the software industry. A well known result of tax incidence is that consumers of a more heavily taxed good pay a higher...

ON THE THREAT OF SUPPLIERS FOR THE ENGINEERING CONSULTING AND DESIGN SERVICES FIRMS

Directory of Open Access Journals (Sweden)

Gabriel Sorin STROE

2014-06-01

Full Text Available In the case of companies from engineering consulting and design services industry the classic models of analysis (e.g. Porter's five forces for structural analysis exhibit interesting aspects in comparison with the situation when applied to traditional services or industrial production firms, due to the distinctive characteristics of the industry. The purpose of this paper is to present a general overview of the engineering consulting and design industry also analyze different facets of the suppliers concept and their force and threat for the engineering services firms. The paper aims at analyzing the dual strategic role of aspecial type of suppliers for the engineering companies.

Belgian firms visiting CERN

CERN Multimedia

FP Department

2009-01-01

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

Do Market Regulation and Financial Imperfections Affect Firm Size? New Empirical Evidence

OpenAIRE

Raquel Fonseca; Natalia Utrero González

2004-01-01

This paper investigates the importance that market regulation and financial imperfections have in firm size. We analyse institutions affecting labour market as Employment Protection Laws (EPL) and Product Market Regulation (PMR). Moreover, we study the effects of these institutions on firm growth. We use data from 29 industrial sectors across 15 developed countries. We find that market regulations related to financial imperfections help to explain differences in firm structure across countries.

Wage Differentials in the Presence of Unobserved Worker, Firm, and Match Heterogeneity

OpenAIRE

Woodcock, Simon

2006-01-01

We consider the problem of estimating and decomposing wage differentials in the presence of unobserved worker, firm, and match heterogeneity. Controlling for these unobservables corrects omitted variable bias in previous studies. It also allows us to measure the contribution of unmeasured characteristics of workers, firms, and worker-firm matches to observed wage differentials. An application to linked employer-employee data shows that decompositions of inter-industry earnings differentials a...

Firm behavior, environmental externalities and public policy

Science.gov (United States)

Curtis, Earnest Markell, IV

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

An exploratory study of international marketing in India: Indian firms, multinationals and their competitiveness

OpenAIRE

Oburai, Prathap

2004-01-01

Indian firms are more international than ever before. Internationalisation drives and export orientation are prominent in the organisational strategies of a number of leading Indian firms and multinationals located in India. This is a significant indicator of the growing competitiveness of firms, industries and the nation. This paper examines the sources of competitive advantages in a few chosen sectors, selected firms, and explores the internationalisation possibilities and potential. Intern...

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

Directory of Open Access Journals (Sweden)

Rabia Azzemou

2018-01-01

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

Who Instigates University–industry Collaborations?

DEFF Research Database (Denmark)

Goel, Rajeev K.; Göktepe-Hultén, Devrim; Grimpe, Christoph

2017-01-01

While evidence on the causes and effects of university–industry interaction is abundant, little is known about how, and particularly by whom, such interaction is instigated in the first place and subsequently managed. In this paper, we investigate which mode of collaboration (joint research......, contract research, consulting, in-licensing, or informal contacts) is more likely to be initiated and managed by firm employees versus by university scientists. Moreover, we are interested in the differences between small and large firms to see whether initiation and management are affected by firm size....... Using a sample of 833 German manufacturing firms, our results indicate that university scientists typically start collaborations with industry, while firm employees would take over the management of projects. Results vary markedly between small and large firms, with university scientists having somewhat...

On Business-Driven IT Security Management and Mismatches between Security Requirements in Firms, Industry Standards and Research Work

Science.gov (United States)

Frühwirth, Christian

Industry managers have long recognized the vital importance of information security for their businesses, but at the same time they perceived security as a technology-driven rather then a business-driven field. Today, this notion is changing and security management is shifting from technology- to business-oriented approaches. Whereas there is evidence of this shift in the literature, this paper argues that security standards and academic work have not yet taken it fully into account. We examine whether this disconnect has lead to a misalignment of IT security requirements in businesses versus industry standards and academic research. We conducted 13 interviews with practitioners from 9 different firms to investigate this question. The results present evidence for a significant gap between security requirements in industry standards and actually reported security vulnerabilities. We further find mismatches between the prioritization of security factors in businesses, standards and real-world threats. We conclude that security in companies serves the business need of protecting information availability to keep the business running at all times.

Direct and mediated ties to universities : “Scientific” absorptive capacity and innovation performance of pharmaceutical firms

NARCIS (Netherlands)

Belderbos, R.; Gilsing, Victor; Suzuki, S.

2016-01-01

Extant literature on firm–university collaboration has emphasized two different strategies that firms in science-based industries adopt to source scientific knowledge and expertise. On one hand, firms engage in direct research collaborations with universities. On the other hand, firms establish

Nuclear industry chart no. 21 - France

International Nuclear Information System (INIS)

Anon.

1976-01-01

A fold-out chart shows the relationship between the government bodies and industrial concerns. Nuclear power plant orders under the 1970-84 programme are tabulated. A directory is included of national bodies, firms and establishments. (U.K.)

Investment in exploration by the US uranium industry

International Nuclear Information System (INIS)

Cohen, W.

1982-09-01

This report examines investment in domestic uranium exploration by US companies. In addition to examining the influence of typically considered variables such as expected price of output, expected cost of production, cost of capital, and reserve holdings, the analysis also considers the influence of selected attributes of the corporations involved, including cash flow, exploration expertise, and corporate investment strategy. This latter class of variables (i.e., corporate variables) has never been considered in the analysis of the determination of industry investment behavior. The sample includes observations of 25 firms' behavior over a period of 7 years, 1973 through 1979. In addition to supporting the energy Information Administration's more comprehensive uranium market modelling efforts, an interesting question this study addresses is the role of major oil companies in the uranium exploration field. The results suggest that expected profit and level of reserve holdings significantly affect exploration effort. It is also found that firms with greater cash flow and depth of in-house exploration expertise will explore more than firms with less. On the other hand, the results do not suggest that firms' diversification strategies differentiate their exploration in the short run. For instance, in the uranium industry, mineral firms do not behave differently from energy (e.g., oil) firms, once the other determinants of investment in exploration are considered. In conclusion, the results demonstrate that corporate variables should be considered in models of uranium exploration. Their consideration will enhance the ability to model exploration behavior accurately. 10 tables

Food Safety Regulation and Firm Productivity: Evidence from the French Food Industry

OpenAIRE

Requillart, Vincent; Nauges, Celine; Simioni, Michel; Bontemps, Christophe

2012-01-01

The purpose of this article is to assess whether food safety regulations imposed by the European Union in the 2000s may have induced a slow-down in the productivity of firms in the food processing sector. The impact of regulations on costs and productivity has seldom been studied. This article contributes to the literature by measuring productivity change using a panel of French food processing firms for the years 1996 to 2006. To do so, we develop an original iterative testing procedure b...

Anthropotechnological analysis of industrial accidents in Brazil.

Science.gov (United States)

Binder, M. C.; de Almeida, I. M.; Monteau, M.

1999-01-01

The Brazilian Ministry of Labour has been attempting to modify the norms used to analyse industrial accidents in the country. For this purpose, in 1994 it tried to make compulsory use of the causal tree approach to accident analysis, an approach developed in France during the 1970s, without having previously determined whether it is suitable for use under the industrial safety conditions that prevail in most Brazilian firms. In addition, opposition from Brazilian employers has blocked the proposed changes to the norms. The present study employed anthropotechnology to analyse experimental application of the causal tree method to work-related accidents in industrial firms in the region of Botucatu, São Paulo. Three work-related accidents were examined in three industrial firms representative of local, national and multinational companies. On the basis of the accidents analysed in this study, the rationale for the use of the causal tree method in Brazil can be summarized for each type of firm as follows: the method is redundant if there is a predominance of the type of risk whose elimination or neutralization requires adoption of conventional industrial safety measures (firm representative of local enterprises); the method is worth while if the company's specific technical risks have already largely been eliminated (firm representative of national enterprises); and the method is particularly appropriate if the firm has a good safety record and the causes of accidents are primarily related to industrial organization and management (multinational enterprise). PMID:10680249

Education Needs of California Firms for Trade in Pacific Rim Markets. Commission Report 88-43.

Science.gov (United States)

California State Postsecondary Education Commission, Sacramento.

An exploratory survey of firms concerning their need for specialists for pursuing trade in Pacific Rim markets is reported. The industries surveyed include food and agriculture, sportswear and sports equipment, and applied electronics. After an introductory section explaining the origins and development of the survey, the report presents the major…

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

DEFF Research Database (Denmark)

Kokko, Ari; Thang, Tran Toan

2014-01-01

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

The Impact of Hedge Fund Activism on Target Firm Performance, Executive Compensation and Executive Wealth

Directory of Open Access Journals (Sweden)

Andrew Carrothers

2017-10-01

Full Text Available This paper examines the relationship between hedge fund activism and target firm performance, executive compensation, and executive wealth. It introduces a theoretical framework that describes the activism process as a sequence of discrete decisions. The methodology uses regression analysis on a matched sample based on firm size, industry, and market-to-book ratio. All regressions control for industry and year fixed effects. Schedule 13D Securities and Exchange Commission (SEC filings are the source for the statistical sample of hedge fund target firms. I supplement that data with target firm financial, operating, and share price information from the CRSP-COMPUSTAT merged database. Activist hedge funds target undervalued or underperforming firms with high profitability and cash flows. They do not avoid firms with powerful CEOs. Leverage, executive compensation, pay for performance and CEO turnover increase at target firms after the arrival of the activist hedge fund. Target firm executives’ wealth is more sensitive to changes in share price after hedge fund activism events suggesting that the executive team experiences changes to their compensation structure that provides incentive to take action to improve returns to shareholders. The top executives reap rewards for increasing firm value but not for increased risk taking.

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

Directory of Open Access Journals (Sweden)

Vincent B. Molokwu

2013-03-01

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

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

Directory of Open Access Journals (Sweden)

Vincent B. Molokwu

2013-03-01

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

Relationship between innovation capability, innovation type, and firm performance

Directory of Open Access Journals (Sweden)

R.P. Jayani Rajapathirana

2018-01-01

Full Text Available Insurers are well versed in the litany of challenging conditions facing the sector. These challenges are economic, political, regulatory, legal, social, and technological. As a result of those pressures, the industry is experiencing increasing competition, muted growth, and an excess of capital. The increased connectivity among household and workplace devices, the development of autonomous vehicle and the rising threat of cyber attacks are transforming the way people live and risk they need to mitigate with insurance products. Insurers need to adopt their business models address the changes which can be threatening to the growth of the industry (Deloitte, 2017. Innovation is widely regarded as pinnacle success factor in highly competitive and global economy. An innovation perspective draws a clear picture of future opportunities that lie ahead. The main purpose of this paper is to explore the relationship among innovations capability, innovation type and on the different aspect of firm performance including innovation, market and financial performance based on an empirical study covering insurance industry in Sri Lanka. The research framework developed in this study was tested 379 senior managers of insurance companies. The empirical verification of assumption of this model has given evidence to confirm the relationship between innovation capabilities; innovation efforts and firm performance are significant and strong. The results of this study could lead effective management of innovation capability which helps to deliver more effective innovations outcomes to generate better performance and it would be benefits for management of the insurance companies.

Creativity and Entrepreneurship: A Regional Analysis of New Firm Formation

OpenAIRE

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

2004-01-01

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

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.

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...

Monopolistic Competition, International Trade and Firm Heterogeneity

DEFF Research Database (Denmark)

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

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

Strategic innovation: An empirical study on hotel firms operating in Antalya region

Directory of Open Access Journals (Sweden)

Fatma Nur Iplik

2014-06-01

Full Text Available Strategic innovation is an issue that is frequently debated by the recent studies. The contemporary organizations almost in all industries seek to increase their strategic innovation capabilities in order to possess a sustainable competitive advantage. Similarly, in the hospitality industry strategic innovation is an essential instrument of gaining competitive advantage in the marketplaces. In modern days of hospitality and tourism, satisfying consurmers with providing only accommodation and catering services is not sustainable since demand is becoming diversified and rivals are offering new services. Thus, strategic innovation may assist hotel firms in meeting new demand and expanding the range of services they offer. Therefore, the purposes of this paper are to measure the level of strategic innovation of hotel firms, and to reveal the obstacles to strategic innovation activities. The paper will also examine the importance of strategic innovation for hotel firms. To this end, a questionnaire was developed and employed to middle and top level executives of hotel firms operating in Antalya province. Results show that hotel firms primarily innovate to improve service quality and to satisfy guests. It was also found that the most important obstacle to innovation is cost of innovation activities.

The Significance of Electronic Commerce to Firms' Operations in Relation to Business Location: an empirical investigation

Directory of Open Access Journals (Sweden)

Uchenna Eze

2004-11-01

Full Text Available Globalization of production and increasing competition spurs greater business use of innovative information systems. As globalization extends its reach over cities and regions, the positions of those places within the emerging global paradigms of regional economies is changing. Only those regions and cities that can mobilize assets for local advantage would succeed. This research examines the implications of location for electronic commerce (EC role in firm operations through the lens of managerial perceptions of EC systems, EC activities, agglomeration economies, firm-specific features and outputs relative to industry. The input-based view and industrial development frameworks provide the theoretical underpinning for this research. Fully completed instruments from 106 firms in Singapore and Lagos financial services sector, respectively, are the basis of our analysis. Our findings reveal varying results between industries across the two cities, supporting our propositions. Firms with well-configured EC systems are more likely to experience efficiency in EC activities and outputs, given conducive operational conditions. However, firm-specific features were not linked to output, a finding inconsistent with prior studies. Finally, EC business models that focus on operational efficiency strongly complement the historically relevant location variable in industrial operations. These findings provide basis for recommendations to policymakers, practitioners, and researchers.

Investigating Food and Beverage Industry Market Structure and Market Power Based on Leo and Bresnahan’s Approach

Directory of Open Access Journals (Sweden)

M. Nabishahikitash

2016-03-01

lower quantity of demand. The decrease in supply as a result of the exercise of market power creates an economic deadweight loss which is often viewed as socially undesirable. As a result, many countries have anti-trustor other legislation to limit the ability of firms to create market power. Such legislation often regulates mergers and sometimes introduces a judicial power to compel divestiture. A firm usually has market power by virtue of controlling a large portion of the market. In extreme cases—monopoly and monopsony—the firm controls the entire market. However, market size alone is not the only indicator of market power. Highly concentrated markets may be contestable if there are no barriers to entry or exit, limiting the incumbent firm's ability to raise its price above competitive levels. Market power gives firms the ability to engage in unilateral anti-competitive behavior.[1] Some of the behaviors that firms with market power are accused of engaging in include predatory pricing, product tying, and creation of overcapacity or other barriers to entry. If no individual participant in the market has significant market power, then anti-competitive behavior can take place only through collusion, or the exercise of a group of participants' collective market power. The Lerner index and Herfindahl index may be used to measure market power. Examination of market power of different industries provides possibility that policymakers design and deliver model for processing food and beverage producers to guide them to the product that has the most social benefits. Materials and Methods: The main purpose of this study is to assess and identify market structure and market power and estimate coefficient of collusion in the food and beverage industry. Estimates of market power in the food and beverage industry in Iran are few when compared with similar studies overseas. For local studies we can cite papers such as Alijani&Sabuhi (4, Sheikh zeinodin&Bakhshude (3

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

Science.gov (United States)

DiMasi, Joseph A

2014-01-01

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

Rural development policy and food industry development

DEFF Research Database (Denmark)

Baker, Derek; Abildtrup, Jens; Hedetoft, Anders

2007-01-01

Food industry firms in remote areas face a set of constraints, which have motivated the form and function of assistance instruments under various regional and rural development programmes. Recent food industry developments present new challenges to these firms, for which available assistance may...... be less appropriate. This paper employs telephone interviews and workshop discussions with firms in isolated locations to investigate their satisfaction with assistance programmes, their ability to innovate (through product introductions) and respond to challenges in the food industry (the emergence...

Contributions of Science and Technology Parks Towards Firms' Performance in Pakistan

International Nuclear Information System (INIS)

Mangrio, W.B.; Naqvi, I.B.

2013-01-01

Several countries have adopted different strategies, models and policies to assist companies to develop their technological capabilities. These include high tech cluster development, creation of venture capital fund, establishment of technology incubation center, and Science and Technology parks. In turn, the creation of knowledge base industries, regional development, improves the technological infrastructure and life standard of the people. This paper discusses the contribution of science and technology parks in firms' performance in particularly employment, sales and profitability and also in creation of new businesses in information technology sector in Pakistan. This study is based on the case study of STPs (Software Technology Parks) of Islamabad. The results revealed that the establishment of STPs could be helpful in the creation of new companies as half of firms located at the STPs were startup enterprises. It helps firms to enhance its growth performance in the first five years after starting their business at these STPs. By developing software parks in three major cities, Pakistan Software Export Board have achieved partially its objectives. (author)

Visit of Belgian Firms at CERN

CERN Multimedia

FP Department

2009-01-01

25 – 26 MAY 2009 09h00 to 17h00 Monday 25 May 09h00 to 17h00 Tuesday 26 May Individual interviews will take place in technicians’ offices. The firms will contact relevant users/technicians but any user wishing to make contact with a particular firm is welcome to use the contact details which are available from each secretariat of department or from the GS Department web pages at the following URL: http://gs-dep.web.cern.ch/gs-dep/groups/sem/ls/Industrial_Exhibitions.htm List of Companies: 1. Automation Services and Consulting BVBA 2. Burrick NV, (PLC) 3. Cissoid 4. DB Engineering 5. Design, Drafting & Services BVBA 6. Entelec Control Systems 7. GILLAM-Fei S.A. 8. HPC 9. ICSENSE 10. IWT – Enterprise Europe Flanders 11. Jema SA 12. Mecasoft SA 13. SA Polmans 14. Rapid-Torc 15. Resarm Engineering Plastics SA 16. Sentera Europa NV 17. SLC BVBA 18. Stocker Industrie SA 19. Technord 20. Tecnubel 21. Winlock BVBA For further information please contact Caroline Laignel GS-DI 737...

How Chinese firms employ open innovation to strengthen their innovative performance

DEFF Research Database (Denmark)

Wang, Yuandi; Roijakkers, Nadine; Vanhaverbeke, Wim

2012-01-01

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

Joining the pack or going solo? A dynamic theory of new firm positioning

NARCIS (Netherlands)

Boone, Chr.; Wezel, F.C.; van Witteloostuijn, A.

2013-01-01

The question of new firm positioning in the marketplace and entrant's subsequent long-term performance lies at the heart of strategic entrepreneurship. We suggest a dynamic theory of new firm positioning that hinges on an important feature of the competitive environment: industry-level product

Trends and patterns in inter-firm R&D networks in the global computer industry: a historical analysis of major developments during the period 1970-1999.

NARCIS (Netherlands)

Cloodt, M.M.A.H.; Hagedoorn, J.; Roijakkers, A.H.W.M.

2006-01-01

We present a historical analysis of major trends in inter-firm R&D partnering in the international computer industry during the period 1970-1999. We first discuss different modes of R&D cooperation in the context of the overall growth patterns in R&D partnerships. We also examine major changes in

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

Directory of Open Access Journals (Sweden)

Kerry London

2010-11-01

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

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

DEFF Research Database (Denmark)

Sørensen, Hans Eibe

2011-01-01

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

Determinants of Market Structure and the Airline Industry

Science.gov (United States)

Raduchel, W.

1972-01-01

The general economic determinants of market structure are outlined with special reference to the airline industry. Included are the following facets: absolute size of firms; distributions of firms by size; concentration; entry barriers; product and service differentiation; diversification; degrees of competition; vertical integration; market boundaries; and economies of scale. Also examined are the static and dynamic properties of market structure in terms of mergers, government policies, and economic growth conditions.

US service firms eye increased sales to Mexico

International Nuclear Information System (INIS)

Anon.

1992-01-01

This paper reports on American service supply companies which hope the pending U.S.-Mexico free trade agreement will step up their sales of goods and service to Petroleos Mexicanos. They testified at a House foreign affairs subcommittee hearing on the oil aspects of the FTA and commented on a recent General Accounting Office report. Rep. Sam Gejdenson, (D-Conn.), subcommittee chairman, has been critical of FTA negotiations because it appears they will not open the Mexican oil sector to U.S. firms. Mexico's constitution bans foreign firms from owning Mexican reserves. It has been stated that the U.S. oil industry needs the business. The industry, particularly drillers, contractors, and manufacturers of oil equipment, has been hurting for more than 10 years now. They have lost more than 356,000 jobs in this sector in the last decade more than have been lost in the entire U.S. auto industry. Access to trade and investment in Mexico's oil sector could mean the difference between profit and bankruptcy for tens of thousands of small and medium size oil service contractors

Shaking up the Firm Survival: Evidence from Yogyakarta (Indonesia

Directory of Open Access Journals (Sweden)

Aloysius Gunadi Brata

2018-04-01

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

Chief Executive Officer Duality And Financial Performance of Firms In Nigeria

Directory of Open Access Journals (Sweden)

Dominic Ose Erah (B.Sc, M.Sc

2013-07-01

Full Text Available the work is centred on CEO Duality and Financial Performance of Firms in Nigeria. The objective of the study is to find out the relationship between CEO Duality and the Financial Performance of Firm. We adopted the use of secondary data from the Nigerian Stock Exchange Fact book drawn from various industries during the period 2001 – 2010 and the regression analysis with its Best Linear Unbiased Estimate (BLUES was employed to test our hypothesis. The findings of the study revealed that CEO Duality is harmful to the Financial Performance of a firm. The study proffered useful recommendations, which when implemented will help improve financial performance of firms in Nigeria.

Firm, Country and Macroeconomic Determinants of Capital Structure: Evidence from Turkish Banking Sector

Directory of Open Access Journals (Sweden)

Nuri Baltacı

2014-03-01

Full Text Available This study explores the significance of firm-specific, country, and macroeconomic factors in explaining variation in leverage using a sample of banks from Turkish banking sector. The analysis is based on quarterly firm-level data from Turkish banking sector in 2002–2012. We aims to contribute to the empirical capital structure literature in the following ways. Our first contribution comes from assessing the importance of firm-specific factors, country-level factors and industrial factors for capital structure decisions in Turkish banking sector. Second, we employ appropriate and advanced dynamic panel data estimators, Blundell and Bond’s (1998 generalized methods of moment’s estimators (GMM System. We find that leverage is significantly and positively associated with average industry leverage, firm size and GDP growth. We find also that leverage is significantly and negatively associated with tangibility, profitability, inflation and financial risk. The regression results for leverage are both theoretically and empirically plausible for banks in Turkey. Moreover, tangibility, profitability and GDP growth are consistent with the predictions of the pecking order theory, while firm size is consistent with the predictions of the trade-off theory. Our findings suggest that the capital structures of financial and non-financial firms are ultimately determined by the same drivers.

77 FR 25132 - Notice of Petitions by Firms for Determination of Eligibility To Apply for Trade Adjustment...

Science.gov (United States)

2012-04-27

... for the banking and healthcare industries. Rogue Valley Door, Inc 123 N.E. Beacon Drive, 02/27/2012... Shatz & Co., Inc 61 Dewey Avenue, Warwick 4/11/12 The firm manufactures RI 02886. wooden furniture for... Circle, 4/19/2012 The firm manufactures Vancouver, WA 98682. retail, commercial, and industrial first aid...

Firm performance: The role of CEOs' emotional and cognitive characteristics

Directory of Open Access Journals (Sweden)

Kleanthis K. Katsaros

2015-08-01

Full Text Available The paper examines the relationships between CEOs’ personal traits, emotions, attitudes and tolerance of ambiguity; and subsequently, the influence of CEOs’ ambiguity tolerance in firms' performance. Design/methodology/approach – Survey data were collected from 256 ICT firms established in Greece. Their CEOs completed questionnaires examining TOA, personal traits, emotions and attitudes in the workplace. Principal components analysis and ordinary least-squares regressions were used to explore the hypotheses of the paper. Findings – Three factors characterize CEOs' emotions, namely pleasure, dominance and arousal; two factors their involvement, namely importance and interest; and, respectively, one their emotional intelligence namely, empathy/handling relationships. Further, locus of control; importance; arousal; empathy/handling relationships and interest affect decisively CEOs' tolerance of ambiguity, which in turn, seems to influence positively firms' performance. Research limitations/implications – Further research is required in Greek ICT industry regarding the influence of CEOs' emotional and cognitive attributes in organizations' financial performance. Likewise, this research should be expanded to other industries. Originality/value – The originality of this study lies in the finding that emotional and cognitive characteristics affect CEOs' TOA, which, in turn, influences significantly firms' performance. Another significant contributing factor is that the study is carried out in Greece, where few studies have been conducted in this area.

Motives and chances of firm diversification: theory and empirical evidence

International Nuclear Information System (INIS)

Briglauer, W.

2001-11-01

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

Danish firms visit CERN

CERN Multimedia

FP Department

2011-01-01

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

Corporate Foresight and its Impact on Firm Performance: A Longitudinal Analysis

DEFF Research Database (Denmark)

Rohrbeck, René; Kum, Menes Etingue

2018-01-01

’s future preparedness (FP) by assessing the need for corporate foresight (CF) and comparing it to the maturity of its CF practices. We apply a longitudinal research design in which we measure future preparedness in 2008 and its impact on firm performance in 2015. The results indicated future preparedness......Corporate foresight is applied with the expectation that it will help firms to break away from path dependency, help decision makers to define superior courses of action, and ultimately enable superior firm performance. To empirically test this assumption, we developed a model that judges a firm...... to be a powerful predictor for becoming an outperformer in the industry, for attaining superior profitability, and for gaining superior market capitalization growth. In the article, we also calculate the average bonus/discount that can be expected by sufficiently/insufficiently future-prepared firms....

Industrial Upgrading in Global Production Networks: The Case of the Chinese Automotive Industry

OpenAIRE

Yansheng LI; Xin Xin KONG; Miao ZHANG

2015-01-01

This article examines the development of China’s automotive industry. The evidence shows that integration in global production networks has stimulated upgrading of technological capabilities among automotive firms. However, the competitiveness and intra-industry analyses show mixed results. Although intraindustry trade in automotive products has improved since 2000, the trade competitiveness of completely built up vehicles has largely remained in low value added activities. Nevertheless, firm...

Characteristics of construction firms at risk for future workers' compensation claims using administrative data systems, Washington State.

Science.gov (United States)

Marcum, Jennifer L; Foley, Michael; Adams, Darrin; Bonauto, Dave

2018-06-01

Construction is high-hazard industry, and continually ranks among those with the highest workers' compensation (WC) claim rates in Washington State (WA). However, not all construction firms are at equal risk. We tested the ability to identify those construction firms most at risk for future claims using only administrative WC and unemployment insurance data. We collected information on construction firms with 10-50 average full time equivalent (FTE) employees from the WA unemployment insurance and WC data systems (n=1228). Negative binomial regression was used to test the ability of firm characteristics measured during 2011-2013 to predict time-loss claim rates in the following year, 2014. Claim rates in 2014 varied by construction industry groups, ranging from 0.7 (Land Subdivision) to 4.6 (Foundation, Structure, and Building Construction) claims per 100 FTE. Construction firms with higher average WC premium rates, a history of WC claims, increasing number of quarterly FTE, and lower average wage rates during 2011-2013 were predicted to have higher WC claim rates in 2014. We demonstrate the ability to leverage administrative data to identify construction firms predicted to have future WC claims. This study should be repeated to determine if these results are applicable to other high-hazard industries. Practical Applications: This study identified characteristics that may be used to further refine targeted outreach and prevention to construction firms at risk. Published by Elsevier Ltd.

Firm-based Training and Innovative Strategies in the Manufacturing Sector. Empirical Evidence for a local industrial System

OpenAIRE

Giovanni Guidetti; Massimiliano Mazzanti

2005-01-01

The paper investigates the driving factors of firm training using a survey-based dataset concerning manufacturing firms in the Emilia Romagna Region, located in Northern Italy. Data derive from a structured questionnaire administered in 2002 to the management of a representative sample of firms with more than 50 employees in a highly industrialised local production system. The applied analysis explores the linkages between firm training activities and its driving forces. The main potential fa...

Responsibility versus Profit: The Motives of Food Firms for Healthy Product Innovation

Directory of Open Access Journals (Sweden)

Jilde Garst

2017-12-01

Full Text Available Background: In responsible research and innovation (RRI, innovation is seen as a way in which humankind finds solutions for societal issues. However, studies on commercial innovation show that firms respond in a different manner and at a different speed to the same societal issue. This study investigates what role organizational motives play in the product innovation processes of firms when aiming for socially responsible outcomes. Methods: This multiple-case study investigates the motives of food firms for healthier product innovation by interviewing firms about the organizational motives behind product reformulation and innovation. Results: This study highlights the importance of having both instrumental and moral motives in the innovation process when aiming for socially responsible outcomes, and how both these motives interact and contribute to responsible innovation in industry. Furthermore, the study results question the nature of relational motives as a separate category from the other two categories of motives, as suggested by corporate social responsibility (CSR scholars. Conclusions: If commercial innovation needs to contribute to solutions for societal issues, the importance of moral motives has to be stressed without annihilating the instrumental objectives of firms. Both motives contribute to the success factors of responsible product innovation in industry.

Improving Eco-Efficiency through Waste Reduction beyond the Boundaries of a Firm: Evidence from a Multiplant Case in the Ceramic Industry

Directory of Open Access Journals (Sweden)

Guido J. L. Micheli

2018-01-01

Full Text Available To pursue eco-efficiency, one of the most important principles is the sustainable use of resources. The challenge in resource use improvement lies in a clear assessment of resource utilization. However, this evaluation is currently performed within the scope of a company and such an approach is not sustainable anymore in a world with increasingly complex production systems. This paper provides a decision support system (DSS to disclose where wastes absorb resource capacity of a whole production system beyond the boundaries of a firm. In this way, an intervention priority plan can be established to effectively improve the eco-efficiency of production systems by considering interactions among players of a multiplant or supply chain context. An implementation of the DSS is proposed for the ceramic industry to test it and explore the potential benefits. Results confirm that the DSS can effectively enable different actors to understand how significant inter-firm saving opportunities can be identified.

Profits or Professionalism? On Designing Professional Service Firms

NARCIS (Netherlands)

M.W. Lander (Michel)

2012-01-01

textabstractResearch on professional service firms (PSFs) did not come off the ground until recently. This lack of attention is surprising, given their integral role in contemporary knowledge-based economies. In this dissertation, I focus on two professional industries: law and accounting.

Tariffs and Firm-Level Heterogeneous Fixed Export Costs

DEFF Research Database (Denmark)

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

2005-01-01

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

Industrial District as a Corporation

Directory of Open Access Journals (Sweden)

Reza MOHAMMADY GARFAMY

2011-03-01

Full Text Available This paper provides a comparison study of industrial districts in two European countries, Spain and Sweden, using the conceptual framework of corporation. The relevance of this approach is based on the specific qualities that the industrial districts have, including the preexisting conditions, local traditions, products and production characteristics, marketing strategies, local policies and present challenges. The findings indicate the ways in which different patterns of inter-firm relationships, organization of production and dynamics of local alliances have shaped divergent regional responses to the industrial construction.

Monotone Comparative Statics for the Industry Composition

DEFF Research Database (Denmark)

Laugesen, Anders Rosenstand; Bache, Peter Arendorf

2015-01-01

We let heterogeneous firms face decisions on a number of complementary activities in a monopolistically-competitive industry. The endogenous level of competition and selection regarding entry and exit of firms introduces a wedge between monotone comparative statics (MCS) at the firm level and MCS...... for the industry composition. The latter phenomenon is defined as first-order stochastic dominance shifts in the equilibrium distributions of all activities across active firms. We provide sufficient conditions for MCS at both levels of analysis and show that we may have either type of MCS without the other...

The Impact of the Relaxation of Visits by Mainland China Tourists to Taiwan on Stock Returns and Financial Performance: The Case of Listed Tourism Industry Firms

OpenAIRE

Erin H. Kao; You-De Dai

2011-01-01

The purpose of this study is to examine the impact on listed tourism industry firms of the relaxation of the policy to allow Mainland China tourists to visit Taiwan directly for sightseeing from a financial viewpoint. First, before the implementation of the policy, this study applied the "event study method" to investigate the effects on the stock prices of the announcement of the open policy. The results indicate that, except for the Aviation industry, the announcement has given rise to sign...

Alliance Portfolio Diversity and Technological Diversification within Firms : An Empirical Exploration of the Pharmaceutical Industry

NARCIS (Netherlands)

Bos, Brenda; Faems, Dries; Leten, Bart; Duysters, G; DeHoyos, A; Kaminishi, K

2012-01-01

Whereas existing studies have examined the impact of alliance portfolio diversity on firms' technological performance (i.e. number of patent applications), this study will analyse its effect on firms' technological diversification (i.e. variety of patent applications in terms of technological

Derivatives Usage by Non-Financial Firms in Thailand; implications on the hedging strategy

OpenAIRE

Chawla, Veerathep

2007-01-01

This dissertation is the result of the research carried out to investigate the derivatives usage in 65 non-financial companies across 8 specified industries in Thailand. The use of derivatives in Thailand is growing rapidly every year, our survey shows 75% of firms using derivatives in their hedging strategy. There is no significance in the use between Thai and Foreign companies in Thailand, while smaller firms do not use derivatives as much as larger firms, especially large listed companies....

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

DEFF Research Database (Denmark)

Sofka, Wolfgang; Grimpe, Christoph

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

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...

Which IP Strategies Do Young Highly Innovative Firms Choose

DEFF Research Database (Denmark)

Veugelers, Reinhilde; Schneider, Cédric

2018-01-01

This paper describes and analyzes the strategies of young highly innovative companies to appropriate the returns from their innovations. Upon controlling for other firm and industry characteristics, we show that firms combining a young age and small scale with a high R&D intensive profile are mor...... likely to use intellectual property (IP), specifically combining formal and informal appropriation mechanisms. They are especially more likely to choose secrecy in combination with formal IP. This holds primarily when they introduce more radical innovations new to the market....

Efficiency measures for industrial organization

NARCIS (Netherlands)

ten Raa, Thijs; Ray, Subhash C.; Kumbhakar, Subal C.; Dua, Pami

2015-01-01

The aim of the paper is to measure the efficiency of an industry, and to decompose it in firm efficiencies—which indicate how close firms approximate best practices—and an organization efficiency—which indicates the degree of optimality of the number of firms and their distribution. The latter

Marketing and Globalization of the Brewing Industry

DEFF Research Database (Denmark)

Madsen, Erik Strøjer; Wu, Yanqing

2016-01-01

The globalization of the brewing industry after the turn of the century through a large wave of mergers and acquisitions has changed the structure of the world beer markets. The chapter tracks the development in industry concentrations from 2002 to 2012 and points to high transportation costs...... for beers and economies of scale at the firm level in advertising and sales efforts as the main factors behind the wave of cross-country mergers and acquisitions. Using firm-level data from the largest breweries, the estimations verify significant economies of scale at the firm level in marketing...... significant economies of scale benefits at the firm level to be shared between the merging partners as marketing and distribution costs are very high in this industry....

Firm Strategy and the Asian Advantage : The Case of the Emerging Biotech Industry

OpenAIRE

Umali, Celia L.

2006-01-01

Asia is considered by many to be the next biotech hub of the world as countries in the region are striving to develop the sector to be the next engine of growth of their respective economies. Recently many pharmacentical firms derive new products from the biotech sector. This paper on one hand examines the strategies pharmaceutical firms adopt to compete in the domestic and global market place and on the other hand evaluates the Asian advantages in terms of market and globalization drivers. F...

How biotechnology is changing the structure of the seed industry

NARCIS (Netherlands)

Bijman, W.J.J.

2001-01-01

The seed industry has been in a state of restructuring for many years now. New firms have entered the industry and old players have merged. Firms from various backgrounds now compete in supplying seed to agriculture and horticulture: Traditional seed companies, new biotechnology firms, agrochemical

Firm-specific information, analysts’ superiority and investment value

Institute of Scientific and Technical Information of China (English)

Lu; Li; Erjia; Yang; Tusheng; Xiao

2014-01-01

Using a sample of Chinese security analysts’recommendations from 2005 to2010,we examine the source of analysts’superiority and the investment value of their recommendations.Using a calendar-time portfolio approach,we find that,on average,analysts’recommendations are valuable and that analysts are better at analyzing and transferring firm-specific information than market-wide or industry-level information.In addition,we show that the investment value of recommendations increases as firm-specific information becomes more important in stock pricing.Our empirical results are useful in guiding investors and helping brokerage houses to evaluate the output of research departments.

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,

76 FR 60452 - Notice of Petitions by Firms for Determination of Eligibility To Apply for Trade Adjustment...

Science.gov (United States)

2011-09-29

... food packaging solutions. EuroPlast, Ltd 100 S. Industrial Lane, 9/9/2011 The firm manufactures plastic... Centech Road, Omaha, 9/19/2011 The firm designs and NE 68138. manufactures equipment used to manufacture... Avenue, 9/9/2011 The firm designs, Chicago, IL 60630. manufactures, and assembles awards, trophies...

Corporate Taxation and the Size of New Firms : Evidence From Europe

NARCIS (Netherlands)

Da Rin, M.; Di Giacomo, M.; Sembenelli, A.

2009-01-01

Using a novel country-industry level panel database with information on newly incorporated firms in 17 European countries between 1997 and 2004, we study how taxation of corporate income affects the size of entrants at the country-industry level. Our results, that are robust to changes in several

‘Better late than never’: the interplay between green technology and age for firm growth

OpenAIRE

Leoncini, Riccardo; Marzucchi, Alberto; Montresor, Sandro; Rentocchini, Francesco; Rizzo, Ugo

2017-01-01

This paper investigates the relationship between green/non-green technologies and firm growth. By combining the literature on eco-innovations, industrial organisation and entrepreneurial studies, we examine the dependence of this relationship on the pace at which firms grow and the age of the firm. From a dataset of 5498 manufacturing firms in Italy for the period of 2000–2008, longitudinal fixed effects quantile models are estimated, in which the firm’s age is set to moderate the effects of ...

Building the electronic industry's roadmaps

Science.gov (United States)

Boulton, William R.

1995-02-01

JTEC panelists found a strong consistency among the electronics firms they visited: all the firms had clear visions or roadmaps for their research and development activities and had committed resources to ensure that they achieve targeted results. The overarching vision driving Japan's electronics industry is that of achieving market success through developing appealing, high-quality, low-cost consumer goods - ahead of the competition. Specifics of the vision include improving performance, quality, and portability of consumer electronics products. Such visions help Japanese companies define in detail the roadmaps they will follow to develop new and improved electronic packaging technologies.

Organization of the German nuclear industry

International Nuclear Information System (INIS)

Anon.

1992-01-01

Corporate ownership within the German nuclear industry has evolved constantly during the last decade, and recent acquisitions and mergers, reunification of the country, as well as preparation for a unified European power market, have led to many significant changes during the past two years. The country's nuclear industry continues to struggle under an increasingly anti-nuclear political environment, yet nuclear power provided more than one-third of Germany's total electricity generation in 1991. As in many countries, particularly in western Europe, many German companies involved in different facets of the nuclear industry are interrelated. Usually as a means of horizontal or vertical integration, the country's nuclear utilities own, directly or indirectly, shares in uranium mining projects; conversion, enrichment, and fabrication companies; or other utilities' nuclear power plants. The utilities own partial interests in companies in supporting industries as well, including transportation firms, waste management companies, uranium broker/traders, and nuclear equipment manufacturers. While the majority of the companies owned are German, numerous investments are made in non-German firms also

Transform to Succeed: An Empirical Analysis of Digital Transformation in Firms

OpenAIRE

Sarah E. Stief; Anne Theresa Eidhoff; Markus Voeth

2016-01-01

Despite all progress firms are facing the increasing need to adapt and assimilate digital technologies to transform their business activities in order to pursue business development. By using new digital technologies, firms can implement major business improvements in order to stay competitive and foster new growth potentials. The corresponding phenomenon of digital transformation has received some attention in previous literature in respect to industries such as media and publishing. Neverth...

A producer survey on Turkish furniture industry

OpenAIRE

Öğün, Emir Polat

1996-01-01

Ankara : The Department of Management and Graduate School of Business Administration of Bilkent Univ., 1996. Thesis (Master's) -- Bilkent University, 1996. Includes bibliographical references leaves 79-80. Turkish furniture industry has been growing steadily since the liberalization of Turkish economy in early 1980’s. However, the industry faces some technological and economical problems which affects the competitiveness of the firms in the global market. The major problems ...

Industry honoured

CERN Multimedia

2008-01-01

CERN has organised a day to thank industry for its exceptional contributions to the LHC project. Lucio Rossi addresses CERN’s industrial partners in the Main Auditorium.The LHC inauguration provided an opportunity for CERN to thank all those who have contributed to transforming this technological dream into reality. Industry has been a major player in this adventure. Over the last decade it has lent its support to CERN’s teams and participating institutes in developing, building and assembling the machine, its experiments and the computing infrastructure. CERN involved its industrial partners in the LHC inauguration by organising a special industry prize-giving day on 20 October. Over 70 firms accepted the invitation. The firms not only made fundamental contributions to the project, but some have also supported LHC events in 2008 and the inauguration ceremony through generous donations, which have been coordinated by Carmen Dell’Erba, who is responsible for secu...

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.

Enhancing technological innovation in small firms: Role of collaboration

International Nuclear Information System (INIS)

Singh, D; Khamba, J S; Nanda, T

2014-01-01

Contribution of Micro-Small and Medium Enterprises (MSMEs) is highly remarkable in the overall industrial economy of the country. In recent years, the MSME sector has consistently registered higher growth rate compared to the overall industrial sector. With its agility and dynamism, the sector has shown admirable innovativeness and adaptability to survive the recent economic downturn and recession. However, MSMEs growth rate is still at low level. Therefore, it becomes essential for organizations to adopt new technologies or upgrade existing setup to meet continuously changing global market and fulfill customer needs. This paper explores the relationships between different collaboration networks and technological innovation of small firms through an extensive review of literature. The study finds that collaboration with larger enterprises, R and D institutions, universities and government agencies play a significant role in enhancing technological innovation in small firms

An exploration study to detect important factors influencing insurance firms

OpenAIRE

Farzaneh Soleimani; Fattaneh Alizadeh Meshkani; Abdullah Naami

2013-01-01

The recent trend on competition among insurance firms has increased motivation to look for important factors influencing this industry. In this paper, we present an empirical investigation to find important factors shaping this industry. The proposed study designs a questionnaire in Likert scale and, using principal component analysis, detects important factors on the success of this industry. Cronbach alpha is calculated as 0.849, and Kaiser-Meyer-Olkin and Bartlett's Test are calculated as ...

Environmental performance, profitability, asset utilization, debt monitoring and firm value

Science.gov (United States)

Bukit, R. Br; Haryanto, B.; Ginting, P.

2018-02-01

The growing issue on firm value shows that firm value is not only determined by the firm ability to increase financial profit, but also by the company's concern in maintaining the environmental condition. The industrial development produces waste that pollutes the environment that has potential to serious impact on the next life. In addition to provide financial benefits, companies are increasingly facing pressure to be socially responsible for the survival of the company. However, past findings demonstrate that the effect of environmental performance, profitability, and asset utilization to the firm’s value are still unclear. This study aims to test whether environmental performance, firm profitability and asset utilization can effectively enhance firm value in two different conditions: intensive debt monitoring and less intensive debt monitoring. Sample of companies is taken from the list of Indonesia Stock Exchange during the period of 2013 to 2015. Using multiple regression analysis, discloses that: in intensive monitoring, managers tend to have high firm value when company has high environmental performance and or high profitability and high asset utilization. Monitoring system needs to be intensified especially for companies with the above characteristics.

Managing Information in Law Firms: Changes and Challenges

Science.gov (United States)

Evans, Nina; Price, James

2017-01-01

Introduction. Data, information and knowledge together constitute a vital business asset for every organization that enables every business activity, every business process and every business decision. The global legal industry is facing unprecedented change, which inevitably creates challenges for individual law firms. These global changes affect…

State ownership and firm performance: Empirical evidence from Chinese listed companies

Directory of Open Access Journals (Sweden)

Mei Yu

2013-06-01

Full Text Available While the relationship between state ownership and firm performance has been widely researched, the empirical evidence has provided mixed results. This study applies panel data regression techniques to 10,639 firm-year observations of non-financial Chinese listed firms during 2003–2010 to examine the relationship between state ownership and firm performance. The results show that state ownership has a U-shaped relationship with firm performance. The Split Share Structure Reform in 2005–2006 played a positive role in enhancing the relationship between state ownership and firm profitability ratios. Although state ownership decreased significantly after 2006, it remains high in strategically important industry sectors such as the oil, natural gas and mining sector and the publishing, broadcasting and media sector. The findings reveal that a higher level of state ownership is superior to a dispersed ownership structure due to the benefits of government support and political connections. The Split Share Structure Reform made previously non-tradable shares legally tradable, improving corporate governance and reducing the negative effect of non-tradable state shares.

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

DEFF Research Database (Denmark)

Nielsen, Jørgen Ulff-Møller; Hansen, Jørgen Drud

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

COMPETITIVENESS IN HOSPITALITY INDUSTRY: ROMANIAN STYLE

Directory of Open Access Journals (Sweden)

Claudia-Elena TUCLEA

2008-01-01

Full Text Available In this paper is presented one of the important sectors of the nationaleconomy, at least from its potential for development perspective: thehospitality industry. The research interest is related to finding out the mainfactors of competitiveness in this field. This research attempts to identify theessential aspects of competitiveness in the hospitality industry. Theobjectives pursued refer to: discovering the degree to which the concept ofcompetitiveness is understood and capitalized on by the managers in theRomanian hospitality industry; identifying a set of factors considered decisivein raising the competitiveness of Romanian firms in the hospitality industry;identifying the strategic concerns of firms operating in the Romanianhospitality industry, in order to establish the connection between strategy andthe competitiveness of the firms belonging to this sector.As a result, the hypotheses are: in the hospitality industry there areparticularities which influence the firms’ competitiveness and strategicorientation; preoccupation towards raising competitiveness and strategicorientation is influenced by the type of exploitation and the number of stars(level of comfort; in the hospitality industry, managers focus on cost controland service quality as decisive factors of competitiveness.

Biomass power industry: Assessment of key players and approaches for DOE and industry interaction

International Nuclear Information System (INIS)

1993-01-01

This report reviews the status of the US biomass power industry. The topics of the report include current fuels and the problems associated with procuring, transporting, preparing and burning them, competition from natural gas projects because of the current depressed natural gas prices, need for incentives for biomass fueled projects, economics, market potential and expansion of US firms overseas

The Assystem firm turns to chemistry and pharmacy

International Nuclear Information System (INIS)

Anon.

2002-01-01

Controlling at 38% by Cogema and at 30% by the 'Dominique Louis' holding company, the Assystem firm makes nowadays use of its abilities for the chemistry and pharmacy sectors. The rehabilitation of the hazard studies in the chemical industry is more than never a topical question. (O.M.)

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...

Market development directory for solar industrial process heat systems

Energy Technology Data Exchange (ETDEWEB)

None

1980-02-01

The purpose of this directory is to provide a basis for market development activities through a location listing of key trade associations, trade periodicals, and key firms for three target groups. Potential industrial users and potential IPH system designers were identified as the prime targets for market development activities. The bulk of the directory is a listing of these two groups. The third group, solar IPH equipment manufacturers, was included to provide an information source for potential industrial users and potential IPH system designers. Trade associates and their publications are listed for selected four-digit Standard Industrial Code (SIC) industries. Since industries requiring relatively lower temperature process heat probably will comprise most of the near-term market for solar IPH systems, the 80 SIC's included in this chapter have process temperature requirements less than 350/sup 0/F. Some key statistics and a location list of the largest plants (according to number of employees) in each state are included for 15 of the 80 SIC's. Architectural/engineering and consulting firms are listed which are known to have solar experience. Professional associated and periodicals to which information on solar IPH sytstems may be directed also are included. Solar equipment manufacturers and their associations are listed. The listing is based on the SERI Solar Energy Information Data Base (SEIDB).

Capital Structure Influence on Construction Firm Performance

Directory of Open Access Journals (Sweden)

Jayiddin Nur Faezah

2017-01-01

Full Text Available The interconnectedness between capital structure and firm performance is a topic of high interest among scholars and management alike. The scholars tend to unveil the why segment of the relationship, while the management looks into the how side to promote capital structure policy which can optimise the firm performance. While many studies have looked into this relationship across multiple industries and spanning across decades of data, the current study trains its lens on Malaysian public listed company companies which operate in the construction sector, and with data window between 2010 to 2014. This specific sector was chosen for their high gearing which renders firms to relatively high insolvency exposure emanating from interest rate fluctuations. The five-year timeframe was selected to isolate potential data contaminations streaming from global financial crisis which winds down in 2009. Financial data of the company were extracted from Bloomberg Terminal based on a pre-prepared list of Bloomberg tickers. A total of 225 observations were recorded in this study. Using Tobin’s Q as a proxy for firm performance, this study finds a mixed result where short term debts ratio indicates a significant negative effect, while long term debt ratio presents a non-significant influence. Explanations on this output are therefore discussed in this paper.

Estimating risk propagation between interacting firms on inter-firm complex network.

Science.gov (United States)

Goto, Hayato; Takayasu, Hideki; Takayasu, Misako

2017-01-01

We derive a stochastic function of risk propagation empirically from comprehensive data of chain-reaction bankruptcy events in Japan from 2006 to 2015 over 5,000 pairs of firms. The probability is formulated by firm interaction between the pair of firms; it is proportional to the product of α-th power of the size of the first bankrupt firm and β-th power of that of the chain-reaction bankrupt firm. We confirm that α is positive and β is negative throughout the observing period, meaning that the probability of cascading failure is higher between a larger first bankrupt firm and smaller trading firm. We additionally introduce a numerical model simulating the whole ecosystem of firms and show that the interaction kernel is a key factor to express complexities of spreading bankruptcy risks on real ecosystems.

Estimating risk propagation between interacting firms on inter-firm complex network.

Directory of Open Access Journals (Sweden)

Hayato Goto

Full Text Available We derive a stochastic function of risk propagation empirically from comprehensive data of chain-reaction bankruptcy events in Japan from 2006 to 2015 over 5,000 pairs of firms. The probability is formulated by firm interaction between the pair of firms; it is proportional to the product of α-th power of the size of the first bankrupt firm and β-th power of that of the chain-reaction bankrupt firm. We confirm that α is positive and β is negative throughout the observing period, meaning that the probability of cascading failure is higher between a larger first bankrupt firm and smaller trading firm. We additionally introduce a numerical model simulating the whole ecosystem of firms and show that the interaction kernel is a key factor to express complexities of spreading bankruptcy risks on real ecosystems.

Environmental management in the Dutch Food and Beverage industry. A longitudinal study into the joint impact of business network and firm characteristics on the adoption of environmental management capabilities

NARCIS (Netherlands)

Haverkamp, D.J.; Omta, S.W.F.

2007-01-01

Because of the growing societal concerns regarding industrial environmental pollution, it is essential to get a deeper understanding of the factors influencing firms to reduce their environmental impact. This book considers these concerns by evaluating the importance of these factors in reference to

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...

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

OpenAIRE

P Haug

1995-01-01

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

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...

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 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

How Might Industry Governance Be Broadened To Include Nonproliferation

International Nuclear Information System (INIS)

Hund, Gretchen; Seward, Amy M.

2009-01-01

Broadening industry governance to support nonproliferation could provide significant new leverage in preventing the spread/diversion of nuclear, radiological, or dual-use material or technology that could be used in making a nuclear or radiological weapon. Industry is defined broadly to include (1) the nuclear industry, (2) dual-use industries, and (3) radioactive source manufacturers and selected radioactive source-user industries worldwide. This paper describes how industry can be an important first line of defense in detecting and thwarting proliferation, such as an illicit trade network or an insider theft case, by complementing and strengthening existing governmental efforts. For example, the dual-use industry can play a critical role by providing export, import, or security control information that would allow a government or the International Atomic Energy Agency (IAEA) to integrate this information with safeguards, export, import, and physical protection information it has to create a more complete picture of the potential for proliferation. Because industry is closest to users of the goods and technology that could be illicitly diverted throughout the supply chain, industry information can potentially be more timely and accurate than other sources of information. Industry is in an ideal position to help ensure that such illicit activities are detected. This role could be performed more effectively if companies worked together within a particular industry to promote nonproliferation by implementing an industry-wide self-regulation program. Performance measures could be used to ensure their materials and technologies are secure throughout the supply chain and that customers are legitimately using and/or maintaining oversight of these items. Nonproliferation is the overarching driver that industry needs to consider in adopting and implementing a self-regulation approach. A few foreign companies have begun such an approach to date; it is believed that

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

Examining the scope of multibusiness health care firms: implications for strategy and financial performance.

Science.gov (United States)

Noorein Inamdar, S

2007-08-01

of services and investing in a variety of new noncore business opportunities including many for-profit ventures). Significant differences in financial performance among the strategies were found when controlling for payer reimbursement conditions. Specifically, in an unfavorable condition with high Medicaid and low commercial insurance, the Mission Based strategy performs significantly worse while the Entrepreneur strategy performs surprisingly well, in comparison with the other strategies. Findings suggest: (a) scope can be used to classify a large number of multibusiness health care firms into a taxonomy representing a small group of distinct corporate strategies, which are recognizable by senior management in the health care industry, (b) no single strategy dominates in performance across different payer profiles, instead there appears to be complementarities or fit between strategy and payer profiles that determines which firms perform well and which do not under different conditions, and (c) senior management of nonprofit health care firms are cross-subsidizing unprofitable patient care through ownership of nonpatient care businesses including for-profit ventures.

Visit of Belgian firms to CERN

CERN Multimedia

HR Department

2009-01-01

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

Şirketlerin Hayatta Kalma Kabiliyetleri: İMKB Örneği (Survival Ability of Firms: The Case Of ISE

Directory of Open Access Journals (Sweden)

Hakan ALTIN

2010-07-01

Full Text Available The crisis taking place in the financial markets inevitably affects the reel sector. Survival of the firms during or after the crises is closely related to their debt structures and operational decisions. In this respect, consistency between debt/equity structures and operational decisions of the listed companies is crucial in terms of their survival-ability, particularly during the crisis periods.This paper examines survival ability of the 142 firms registered to the İstanbul Stock Exchange (ISE Industrial Index both before and after the crisis. Constant returns to scale approach is used in the analysis. While the input variables used are related to the financial structures of the firms, the output variables refer to the operational structures of the firms. Of the 136 firms from the sample whose analyzable data was accessed, 18 are found to be relatively efficient before the crisis. The number of relatively efficient firms rises to 24 after the crisis. This situation leads to a conclusion that the firms registered to ISE Industrial Index are vulnerable in terms of debt management.

How far from Just-in-time are Portuguese firms? A survey of its progress and perception.

OpenAIRE

Maria Rosário Moreira; Rui Alves

2006-01-01

As competition increases, Just-in-Time (JIT) manufacturing becomes an important issue in Portuguese industry. After a brief review of its history, elements, advantages and limitations, this paper presents the results of a postal questionnaire survey about JIT system sent to a sample of manufacturing firms in Portugal, with the aim of determining the degree of development, perception and status of JIT production in Portuguese industries. The findings suggest that the surveyed firms have a basi...

Furniture firms shuns CSL for EMS program expansion

Energy Technology Data Exchange (ETDEWEB)

Deans, B

1982-05-31

The R.B. Furniture Company's disappointment in its 10 CSL Industries Inc. energy-management systems is responsible for a decision to install Trimax Controls in the remaining 67 stores. At issue are CSL's service policy of using independent installers and service contractors as well as technical problems with the equipment, although R.B. Furniture concedes it had a 2.5-year payback, a 20% drop in electricity consumption, and generally reliable performance of the CSL system. A CSL official claims its higher equipment costs are the real reason. Interviews with CSL and R.B. Furniture Co. representatives explore the attitudes and problems of both firms. The Trimex system includes a three-year warranty. (DCK)

Public enterprises in natural resource industries: an economic analysis

International Nuclear Information System (INIS)

Fulton, M.E.

1985-01-01

Public enterprises are playing an ever increasing role in natural resource industries. This research analyzes the reason for this involvement, i.e., what have been the objectives of public firms, the objectives of other firms; and the reasons behind exploration in natural resource industries. An answer to the first question was obtained by estimating the objective function of a publicly owned uranium company operating in Saskatchewan, Canada. It was assumed the company solved a linear quadratic optimal control problem. The conclusion was that over the period 1974-1984 the company preferred to trade off profits for higher employment, larger reserve holdings, and greater output. The objectives of the other firms in the Saskatchewan uranium industry were also investigated. It was found that producers integrated with utilities can expect to make a much greater rate of return on exploration that nonintegrated producers, since the former group stands to gain both from the reduction in costs and the reduction in price resulting from exploration. The suggests that overinvestment in the Saskatchewan uranium industry may be a problem. The final item investigated is the normative question of what the objective of a public firm operating alongside a private firm in an oligopolistic industry should be in order that resources in the industry are used efficiently; the answer to this question depends upon the structure of the industry

Profiting from external knowledge : how firms use different knowledge acquisition strategies to improve their innovation performance

NARCIS (Netherlands)

Batterink, M.H.

2009-01-01

In recent years, innovation has become essential for the competitive advantage of firms in a growing number of industries. Due to the fast development of technologies, changing customer demands, shortening of product life cycles, increased global competition and changing regulations, modern firms

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...

Türk Savunma Sanayi Firmaları Vizyon ve Misyon İfadelerinin İçerik Analizi (The Content Analysis of Vision and Mission Statements in Turkish Defense Industry Firms

Directory of Open Access Journals (Sweden)

Metin OCAK

2016-08-01

Full Text Available In this research, components used in mission and vision statements by Turkish Defense Industry Firms and their relations with national defense industry guidance documents are examined. For this reason 87 vision and 79 mission statements which mentioned on the web pages of 148 Turkish Defense Industry Firms’ are taken into consideration. A qualitative research design phenomenology was used and the data were analyzed through content analysis in this study. At the end of the analysis, it is identified that there are common 14 components in vision statements and 13 common components in mission statements. Also it is discovered that some of the components are relevant with components mentioned in the national defense industry guidance documents.

Empiric evidence for ceramic sector in Spain; Influencia de los recursos y capacidades territoriales sobre las empresas en un distrito industrial

Energy Technology Data Exchange (ETDEWEB)

Hervas Oliver, J. L.; Dalmau Porta, J. I.; Albors Garrigos, J.

2008-07-01

One of the differences on the firms performance is based on the strategic location on a specific geographic place: the territorial effect. Firstly, we develop a theoretical framework which includes the located assets in an industrial district. Thus, in order to measure the influence of territorial assets over located firms, we analyze quantitatively that district effect or territorial effect on a sample of 343 firms from the Spanish ceramic tile industry in 2000, 1999 and 1998, finding empirical evidence of the existence of externalities shown on different financial and economic indicators in the companies located in the industrial district area compared to the outside (or isolated) companies. (Author) 94 refs.

Technological and organizational diversity and technical advance in the early history of the American semiconductor industry

Science.gov (United States)

Cohen, W.; Holbrook, D.; Klepper, S.

1994-06-01

This study examines the early years of the semiconductor industry and focuses on the roles played by different size firms in technologically innovative processes. A large and diverse pool of firms participated in the growth of the industry. Three related technological areas were chosen for in-depth analysis: integrated circuits, materials technology, and device packaging. Large business producing vacuum tubes dominated the early production of semiconductor devices. As the market for new devices grew during the 1950's, new firms were founded and existing firms from other industries, e.g. aircraft builders and instrument makers, began to pursue semiconductor electronics. Small firms began to cater to the emerging industry by supplying materials and equipment. These firms contributed to the development of certain aspects of one thousand firms that were playing some part in the semiconductor industry.

Multi-level reputation signals in service industries in Latin America

Directory of Open Access Journals (Sweden)

William Newburry

2011-03-01

Full Text Available This study uses signaling theory to investigate industry -firm- and individual-level determinants of individual-level corporate reputation assessments in the context of Latin America. In a hierarchical linear model, we test our theory using 76,419 individual evaluations of 80 companies in five Latin American countries collected by the Reputation Institute in conjunction with the Foro de Reputación Corporativa. Results show that across our Latin American sample, reputations of firms in the telecom and energy industries are significantly lower than those of manufacturing firms. Additionally, we find consistent evidence across marginalized groups (e.g., women, lower social class, education and income that they assess telecom industry reputations relatively higher than their less marginalized counterparts do. Results are mixed with regards to marginalized group assessments of firms from other service industries. Additionally, counter to expectations, we do not find evidence that firm size or financial performance impact reputation assessments.

Breaking the barriers to commercialization of MEMS: a firm's search for competitive advantage

Science.gov (United States)

Walsh, Steven T.; Linton, Jonathan D.

1999-08-01

A model of infrastructure development for MEMS manufacturing Technologies is offered. The role of discontinuous innovation in achieving competitive advantage is briefly reviewed. This is followed by the development of a model that describes the stages in the growth of an infrastructure to support Micro-Electro-Mechanical-Systems infrastructure. We briefly describe how an infrastructure gradually grows to support a new industry, resulting from discontinuous innovation. the model indicates the evolving nature of the actions and investments that firms and governments need to make to support the growth of an immature industry. Consequently, we aim to not only offer a descriptive model, but offer guidance to firms on whether their intentions and resources fit with the state of the industry and to offer policy makers guidance on the timing of different types of support.

THE IMPACT OF FEMALE DIRECTORS ON FIRM PERFORMANCE: EVIDENCE FROM INDONESIA

Directory of Open Access Journals (Sweden)

Triana

2017-01-01

Full Text Available This research shows the impact of female directors on firm performance in Indonesia by using as its sample the public companies listed on the Indonesian Stock Exchange (IDX from 2011 until 2015. There were 347 companies, with 1,735 samples observed. This research uses the multiple regression method. The model is a modified model from 9 recent articles published between 2012 and 2015. The empirical result shows that a female director has a positive significant effect on firm performance. The control variables, consisting of leverage, firm size and firm age have negative significance for firm performance. This research is conducted across 9 sectors of industrial classification, which support the International Finance Corporation (IFC in increasing the number of female directors in Indonesia. For managers, this research will promote gender development in the boardroom, female executive training programmes as well as female representation on boards of directors. For regulators, this research may provide a contribution to gender representation in board’s policies, rules and regulations. This research can build awareness of women’s contributions to firms and encourage a greater female presence in the boardroom.

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...

Trade Liberalization, Mergers and Acquisitions, and Intra-Industry Reallocations

DEFF Research Database (Denmark)

Bache, Peter Arendorf

This paper presents a Melitz-type model of international trade in final goods and Grossman-Hart-Antràs input sourcing by heterogeneous firms. We show how firms self-select into different organizational forms in a continuum of industries with different characteristics. Next, we show how a liberali...... a liberalization of trade leads to short run increases in the number of firm mergers and acquisitions and potentially new gains from trade. Finally, we show how the relative prevalence of integrating firms is increasing in some industries while constant in all others....

Internationalization of portuguese luxury firms to emerging markets : Loja das Meias and Fátima Lopes case study

OpenAIRE

Carvalho, Madalena Maria Gema de

2012-01-01

In a fast evolving luxury industry, brands strive to grow and seek news ways to reach success. This thesis focuses on the internationalization of Portuguese luxury firms to emerging markets. Internationalization comes has a significant response to the fast-passing luxury industry, which alongside with limited room to evolve in the Portuguese luxury market, has driven national firms to widen their boarders and expand to international audiences. As emerging markets are increasingly showing thei...

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.

Cost Reducing Investment, Competition and Industry Dynamics

NARCIS (Netherlands)

E. Petrakis; S. Roy (Santanu)

1998-01-01

textabstractWe demonstrate the possibility of shake-out of firms and emergence of inter-firm heterogeneity along the (socially optimal) dynamic equilibrium path of a competitive industry with free entry and exit, even when there is no uncertainty and all firms are ex ante identical with perfect

The role of digital channels in industrial marketing communications

OpenAIRE

Karjaluoto, Heikki; Mustonen, Nora; Ulkuniemi, Pauliina

2015-01-01

Purpose – The purpose of this research is to investigate industrial marketing communications tools and the role of digital channels. The research draws from the literature on industrial marketing communications to examine its goals and intended utilization in industrial firms. Design/methodology/approach – An empirical multiple case study conducted among six industrial firms examines the current state of digital marketing communications (DMC). Findings – The study gleans thre...

Strategic Partnerships and Open Innovation in the Biotechnology Industry in Belgium

Directory of Open Access Journals (Sweden)

Jean-Pierre Segers

2013-04-01

Full Text Available Strategic partnerships in the biotechnology industry allow new technology-based firms to gain a foothold in this high-cost, high-risk industry. In this article, we examine the impact of strategic partnerships and open innovation on the success of new biotechnology firms in Belgium by developing multiple case studies of firms in regional biotechnology clusters. We find that, despite their small size and relative immaturity, new biotechnology firms are able to adopt innovative business models by providing R&D and services to larger firms and openly cooperating with them through open innovation.

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.

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

OpenAIRE

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

1990-01-01

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

Configuration of supply chains in emerging industries: a multiple-case study in the wave-and-tidal energy industry

OpenAIRE

Bjørgum, Øyvind; Netland, Torbjørn H.

2017-01-01

Companies in emerging industries face particular challenges in configuring effective supply chains. In this paper, we build on transaction cost economics to explore how supply chains can be configured in emerging industries. We focus on two key aspects of supply chain configuration: the make-or-buy decision and the strength of the ties between a focal firm and its suppliers. We utilise a multiple-case study methodology, including seven start-up companies in the emerging wave-and-tidal energy ...

Financial planning and analysis techniques of mining firms: a note on Canadian practice

Energy Technology Data Exchange (ETDEWEB)

Blanco, H.; Zanibbi, L.R. (Laurentian University, Sudbury, ON (Canada). School of Commerce and Administration)

1992-06-01

This paper reports on the results of a survey of the financial planning and analysis techniques in use in the mining industry in Canada. The study was undertaken to determine the current status of these practices within mining firms in Canada and to investigate the extent to which the techniques are grouped together within individual firms. In addition, tests were performed on the relationship between these groups of techniques and both organizational size and price volatility of end product. The results show that a few techniques are widely utilized in this industry but that the techniques used most frequently are not as sophisticated as reported in previous, more broadly based surveys. The results also show that firms tend to use 'bundles' of techniques and that the relative use of some of these groups of techniques is weakly associated with both organizational size and type of end product. 19 refs., 7 tabs.

Energy efficiency determinants: An empirical analysis of Spanish innovative firms

International Nuclear Information System (INIS)

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

2015-01-01

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

Reveal or Conceal? Signaling Strategies for Building Legitimacy in Cleantech Firms

DEFF Research Database (Denmark)

Bjørnåli, Ekaterina; Giones, Ferran; Billström, Anders

2017-01-01

cases while investigating their actions in different phases of the venture’s evolution. The results suggest that, contrary to signaling theory expectations, young clean-tech firms do not always build legitimacy by conveying information on their strengths. Instead, we observe that they use signaling......New entrants in technology-intense industries are in a race to build legitimacy in order to compete with established players. Legitimacy has been identified as a driver of venture survival and growth; it helps mitigate third-party uncertainty and so facilitates access to resources, engagement...... with customers and other stakeholders. Nevertheless, we know little about how legitimacy is built and how new entrants build legitimacy in complex technology-intensive industries. In this research we explore how Norwegian cleantech firms use signaling and strategic actions to build legitimacy. We analyze five...

Tapping into Industry and Academia

DEFF Research Database (Denmark)

Markus, Arjan; Rosenkopf, Lori

This paper studies how different boundary-spanning mechanisms concurrently impact firm innovation. We specifically examine how inbound mobility and R&D collaboration interact when firms use these mechanisms to tap into two distinct knowledge domains: industry and academia. To examine the impacts...

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...

Recent developments: Industry briefs

International Nuclear Information System (INIS)

Anon.

1992-01-01

This article is the 'Industry Briefs' portion of Nuexco's July 1992 'Recent Developments' section. Specific items mentioned include: (1) the merger of Entergy and Gulf States Utilities, (2) restart of the Sequoyah Fuels facility in Oklahoma, (3) development of the 7th and 8th nuclear units in Taiwan, (4) purchase of interest in Rio Algom, Ltd, and (5) acquisition of the Italian firm AGIP by a Canadian company

Strategic Marketing Problems in the Uganda Maize Seed Industry

OpenAIRE

Larson, Donald W.; Mbowa, Swaibu

2004-01-01

Strategic marketing issues and challenges face maize seed marketing firms as farmers increasingly adopt hybrid varieties in a modernizing third world country such as Uganda. The maize seed industry of Uganda has changed dramatically from a government owned, controlled, and operated industry to a competitive market oriented industry with substantial private firm investment and participation. The new maize seed industry is young, dynamic, growing and very competitive. The small maize seed marke...

Corporate social responsibility disclosure—choices of report and its determinants: Empirical evidence from firms listed on the Stock Exchange of Thailand

Directory of Open Access Journals (Sweden)

Suneerat Wuttichindanon

2017-05-01

Full Text Available This research investigated the report choices used for corporate social responsibility (CSR disclosure and the determinants of CSR disclosure of firms listed on the Stock Exchange of Thailand (SET. Since 2014, firms listed on the SET have been required to disclose CSR in either an annual registration statement or a separate report called a sustainability report. It was, therefore, noteworthy to examine the choices these firms chose in the first year of disclosure. The independent variables were hypothesized under three dimensions—shareholder power (government ownership, corporate visibility (firm size and age, and economic performance (profitability and leverage. The results revealed that government-owned firms or large firms are more likely to prefer the sustainability report. In addition, content analysis of CSR disclosure was conducted in three industries: resources, technology and industrial products. Nine CSR components with 43 indices were developed and used to score the disclosure of firms in the three industries. The three highest CSR disclosure items found were declaring concerns of human rights and equality, having a policy of anti-corruption, and generous giving. Moreover, this study found a positive relationship between the number of CSR disclosure items and government ownership; however, neither firm age nor economic performance in the year before was related to the CSR disclosure. These research findings support the proposition of the stakeholder theory affirming that firms carry out CSR activities because of their stakeholders' influence, and regardless of economic performance. In Thailand, stakeholders' influence and corporate visibility are significant determinants of the CSR disclosure.

The industrial policy experience of the electronics industry in Malaysia

OpenAIRE

Rasiah, Rajah

2015-01-01

Despite the use of industrial policies to stimulate economic growth by several successful developers, latecomers have faced mixed experiences. Hence, this paper analyses the industrial policy experience of the electronics industry in Malaysia. A blend of institutions have guided technological upgrading in the industry, especially in the state of Penang. Smooth co-ordination between the state government, multinational corporations, national firms, and the federal government helped stimulate te...

Appraisal of Information Technology Requirements in Quantity Surveying Firms in Northern Nigeria

Directory of Open Access Journals (Sweden)

Y. U. Datti

2017-06-01

Full Text Available A worrisome trend in the adoption of emerging technologies for competitive advantages and improved productivities by QSs have been observed in that there is overwhelming evidence that there is an increasing usage of IT in quantity surveying firms but little or no noticeable benefits on the practice. It however becomes pertinent to ask then, that despite the increases adoption of computing and telecommunication technologies, why isn’t there any noticeable change due to the impacts of IT in the Nigerian Construction Industry with particular reference to Quantity Surveying practices. The study appraised the requirement of IT in quantity surveying practice in Nigeria. It examined the position of IT in quantity surveying firms in terms of its requirement and analyzed IT requirements-based problem constraining quantity surveying firms. The study is a survey research designed to obtain information on information technology in QS firms. A self-administered questionnaire was employed to quantity surveyors in consulting firms for responses. Responses were returned and analyzed using severity index and later ranked in order of importance. The results indicate a high level of computerization of professional services among the firms with greater number of their computers being networked. However, despite high level of networking of available computers, sharing of printers and other scarce tools/technologies are not established. Compared to developed countries such as Canada, Australia, United Kingdom and USA, the position of IT requirements in QS firms in Nigeria can be said to be at basic level with organization possessing and applying basic IT tools and technologies (e.g. scanners, digital cameras, dvd/cd-rom, general purpose software, QS application software, chat programs etc. in their daily operation and processes. While most firms are progressing toward intermediate level by possessing intermediate IT tools and technologies (e.g. teleconferencing

Toward a Useful Model for Group Mentoring in Public Accounting Firms

Directory of Open Access Journals (Sweden)

Steven J. Johnson

2013-07-01

Full Text Available Today’s public accounting firms face a number of challenges in relation to their most valuable resource and primary revenue generator, human capital. Expanding regulations, technology advances, increased competition and high turnover rates are just a few of the issues confronting public accounting leaders in today’s complex business environment. In recent years, some public accounting firms have attempted to combat low retention and high burnout rates with traditional one-to-one mentoring programs, with varying degrees of success. Many firms have found that they lack the resources necessary to successfully implement and maintain such programs. In other industries, organizations have used a group mentoring approach in attempt to remove potential barriers to mentoring success. Although the research regarding group mentoring shows promise for positive organizational outcomes, no cases could be found in the literature regarding its usage in a public accounting firm. Because of the unique challenges associated with public accounting firms, this paper attempts to answer two questions: (1Does group mentoring provide a viable alternative to traditional mentoring in a public accounting firm? (2 If so, what general model might be used for implementing such a program? In answering these questions, a review of the group mentoring literature is provided, along with a suggested model for the implementation of group mentoring in a public accounting firm.

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...

1991 Canadian oil industry directory

International Nuclear Information System (INIS)

Anon.

1991-01-01

This book provides a complete listing of oil companies operating in Canada. Each company is presented to show its entire range of activity in the petroleum industry. Included are exploration and production companies, drilling contractors, service, supply and manufacturing companies, pipeline-operators, refiners and gas processors, petrochemical plants, engineering and construction firms, associations and government agencies. Listings also include a complete description of company activity, address, phone, fax, telex and cable numbers as well as key personnel

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

International Nuclear Information System (INIS)

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

2016-01-01

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

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

Directory of Open Access Journals (Sweden)

Nguyen Khac Minh

2014-07-01

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

Universal informations of restructuralization of magnesite firm

Directory of Open Access Journals (Sweden)

Bandurová Miriam

2001-12-01

Full Text Available The article presents general process of the judging of organization structures. At beginning there are defined development trends in the organizational structures, form of cooperation and concentration of the firm and of enterprise network. In present time it is very actual questions of organization of large company in the world. Then strategy of organization is described which can be classical and elastic. From new expression in this area is writed reengineering as a principle and radical reconstruction of company process. Between other forms of existence of firms (companies in this time belongs their combination and its forms there are described in this article too.The basic of contribution consists of informations about mining industry in the Slovakia and restructuralization of mining companies after 1989. There is mentioned proposal on general process at analysis of organizational structure of magnesite firm. The basic at the analysis is existence united model of every company produced in this area. Model presents division of organization to two parts: production and administration part. After analysis of individual production process in the production part and technical workers of administration parts of organization there are suggested two alternatives on solution of these problems.

INTRINSIC FACTORS AND FIRM FINANCIAL ANALYSIS WITH TRIPPLE BOTTOM LINES AS INTERVENING VARIABLE AGAINST FIRM VALUE Empirical Studies on Property and Real Estate Companies Year 2010-2013

Directory of Open Access Journals (Sweden)

Mia Andika Sari

2016-09-01

Full Text Available This research conducted to examine the influence of intrinsic factors which being peroxided with Capital Structure, Firm Size, Firm Age and Financial factors that being peroxided with liquidity, profitability also with another activities using triple bottom lines as Intervening Variable against Firm Value of Property Industries. The data that being used in this study were obtained from published financial statements during the period 2010 to 2013, as well as annual reports that can be accessed through the IDX website. Data analysis technique used in this study is a regression with panel data and path analysis. The results of this research showed that intrinsic factors and financial variables have a significant influence on the firm value, as well as intrinsic factors and financial variables have a significant influence on the triple bottom lines. From the results of path analysis demonstrated that the indirect effect using the triple bottom lines as a intervening variable was greater than the direct effect.

International Pricing Strategies for Born-Global Firms

Directory of Open Access Journals (Sweden)

Michael Neubert

2017-10-01

Full Text Available This paper aims to understand how born global firms develop their international pricing strategies, practices, and models. It aims to expand the study of international entrepreneurship and born global firms by including a broader and deeper range of pricing aspects than is normally found in the international entrepreneurship and pricing literature. The paper opted for a multiple case-study research design using different sources of evidence, including four in-depth interviews with CEOs of born global firms. The case-study firms were selected using a purposive selection method. The theoretical framework of Ingenbleek, Frambach & Verhallen is used. The results suggest that successful leaders act as ‘integrating forces’ on two levels: by applying a structured and disciplined price-setting process with regular reviews and by mediating between corporate financial goals and the local market reality. The results support the claim that policy makers should offer insights, training and financial support to give promising born global firms the possibility to select the most efficient international pricing models and strategies. The results are relevant for entrepreneurs to understand the importance of efficient price-modelling processes and the influence of the different price strategies and price models on financial results and sales revenues.

Belgian Firms Visit CERN

CERN Multimedia

2001-01-01

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

Non-invasive estimation of firmness in apple using VIS/NIR spectroscopy

DEFF Research Database (Denmark)

Martinez Vega, Mabel Virginia; Wulfsohn, Dvora-Laio; Toldam-Andersen, Torben Bo

2012-01-01

Better and steady fruit quality evaluation at harvest is a major challenge for commercial growers of apples in Denmark. Those fruits not meeting the requirements for the fresh market traditionally go to the juice concentrate industry where low cost products are obtained. Special fruit qualities...... are needed to develop commodities that can obtain a premium added value on the market. Nowadays in the food industry, quality evaluation is commonly performed non-destructively by means of optical sensors such as spectrometers, hyperspectral and multispectral cameras, that allow rapid measurements of fruit...... as for eating apples. Invasive and non-invasive measurements of firmness, on the shaded and exposed side of the fruits were carried out for three Danish apple cultivars of known commercial usage. Resulting data determined wavelengths between 415 to 715 nm to be predictive for firmness. A PLS model for all three...

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

Nuclear industry chart

International Nuclear Information System (INIS)

Anon.

1975-01-01

As part of a survey on Switzerland a pull-out organisation chart is presented of the nuclear industry showing Swiss government bodies and industrial concerns. Their interests, connections with each other and their associations with international and other national organizations and firms are indicated. (U.K.)

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)

The global alcohol industry: an overview.

Science.gov (United States)

Jernigan, David H

2009-02-01

To describe the globalized sector of the alcoholic beverage industry, including its size, principal actors and activities. Market research firms and business journalism are the primary sources for information about the global alcohol industry, and are used to profile the size and membership of the three main industry sectors of beer, distilled spirits and wine. Branded alcoholic beverages are approximately 38% of recorded alcohol consumption world-wide. Producers of these beverages tend to be large multi-national corporations reliant on marketing for their survival. Marketing activities include traditional advertising as well as numerous other activities, such as new product development, product placement and the creation and promotion of social responsibility programs, messages and organizations. The global alcohol industry is highly concentrated and innovative. There is relatively little public health research evaluating the impact of its many marketing activities.

From ideas to construction innovations: firms and universities collaborating

Directory of Open Access Journals (Sweden)

Jan Bröchner

2016-03-01

Full Text Available The purpose here is to study patterns of project collaboration found in one government supported programme for construction innovation. Preferred types of interaction were identified using data from two questionnaire surveys, one with experienced construction sector respondents and one aimed at construction researchers. All sixteen development projects within the Swedish Bygginnovationen programme were investigated, relying on documents and a survey of project managers. Important types of interaction, according to construction respondents, are informal contacts, joint research projects and staff mobility. For university respondents, informal contacts is also seen as the most important type of interaction, followed by MSc thesis work in firms and industrial PhD candidates. Grant applicants from manufacturing depended more on university laboratories and were less sensitive to firm/university distance. Laboratory use was also more frequent for projects relying on the field of materials engineering. In conclusion, there is a consensus about which types of collaboration are valuable. The broadness of participation in the programme, ranging over many industries, both as to origin of ideas and ultimate applications, reaches beyond narrow interpretations of the construction industry. Policy makers should recognize the innovation importance of university laboratory facilities and field testing, rather than seeing researchers as sources of ideas.

FRANCE at CERN - Visit of Firms

CERN Multimedia

C. Laignel

2007-01-01

From 4 to 5 June 2007 Administration Building Bldg 61 - 1st floor - Room B 09.00 - 17.30 Eighteen companies will present their latest technology at the 'France at CERN' exhibition. French industry will exhibit products and technologies which are related to the field of particle physics. Individual interviews will take place in technicians' offices. The firms will contact relevant users/technicians but any user wishing to make contact with a particular firm is welcome to use the contact details which are available from each department secretariat or from the Purchasing web pages at the following URL http://fi-dep.web.cern.ch/fi-dep/structure/memberstates/exhibitions_visits.htm The main subjects are: mechanical engineering, electrical engineering, electronics, data processing, various supplies and civil engineering and buildings. The exhibition is organised by UBIFRANCE, the French Committee for Trade Events Abroad. The list of exhibitors is given below. LIST OF EXHIBITORS: 40-30 ACC LA JONCHERE ...

FRANCE AT CERN - VISIT OF FIRMS

CERN Multimedia

C. Laignel / FI-DI

2007-01-01

From 4 to 5 June 2007 Administration Building Bldg 61 - 1st floor - Room B 09.00 - 17.30 Seventeen companies will present their latest technology at the 'France at CERN' exhibition. French industry will exhibit products and technologies which are related to the field of particle physics. Individual interviews will take place in technicians' offices. The firms will contact relevant users/technicians but any user wishing to make contact with a particular firm is welcome to use the contact details which are available from each departmental secretariat or from the Purchasing web pages at the following URL http://fi-dep.web.cern.ch/fi-dep/structure/memberstates/exhibitions_visits.htm The main subjects are: mechanical engineering, electrical engineering, electronics, data processing, various supplies and civil engineering and buildings. The exhibition is organised by UBIFRANCE, the French Committee for Trade Events Abroad. You will find below the list of exhibitors. LIST OF EXHIBITORS: 40-30 ACC LA JONCHE...

Industrial natural gas supply options in British Columbia

International Nuclear Information System (INIS)

1994-01-01

Information is provided on the availability and cost of natural gas in British Columbia for use by firms interested in establishing gas-intensive industrial facilities in the province. British Columbia has an abundant supply of natural gas, originating mainly from deposits in the westernmost part of the Western Canadian Sedimentary Basin in the northeast part of the province. Recoverable resources in British Columbia are estimated at 1,000-1,400 billion m 3 . Over 200 producers compete to sell natural gas for both domestic and export markets. Gathering, processing, and transmission of the gas is undertaken mainly by the Westcoast Energy pipeline system, and distribution is undertaken by several distribution utilities. At present, all large industrial gas users buy their firm gas requirements directly from gas producers, often using gas marketers or brokers to assist in purchasing. Regulation of the gas industry is performed by the British Columbia Utilities Commission, which sets rules for energy supply contracts, and by the National Energy Board, which sets tolls for gathering, processing, and transporting gas. Factors affecting gas pricing are discussed, with reference to both the wellhead price and the cost of gathering, processing, and transportation. Firm gas costs for two hypothetical industrial loads in British Columbia are illustrated. Potential intensive uses of natural gas in the province are outlined, including power generation, liquefaction for export, manufacturing, production of direct reduced iron, and as petrochemical feedstocks. 5 figs., 2 tabs

Learning by Drilling: Inter-Firm Learning and Relationship Persistence in the Texas Oilpatch

OpenAIRE

Ryan Kellogg

2009-01-01

This paper examines the importance of learning-by-doing that is specific not just to individual firms, but to pairs of firms working together in a contracting relationship. Using new, detailed data from the oil and gas industry, I find that the joint productivity of an oil production company and its drilling contractor is enhanced significantly as they accumulate experience working together. This learning is relationship-specific: drilling rigs generally cannot fully appropriate the productiv...

Adoption of e-Commerce in micro tourism firms located in Umeå

OpenAIRE

Gharibyan, Tatevik

2016-01-01

A new and an effective Internet business model such as electronic commerce (e-Commerce) has obtained great importance in the tourism industry (Li & Suomi, 2008). e-Commerce has great importance also for small firms. Despite this, the majority of  literature concerning  tourism and e-Commerce does not tend to discuss the adoption of e-Commerce within small and medium sized firms (SMEs), whereas most studies have focused on the information that can be found on broader aspects of the Interne...

Media Outlook 2016: A Survey of UK Media Trends and Firm Capabilities

OpenAIRE

Oliver, John James

2016-01-01

The aim of this survey is to understand the changing nature of the UK media environment, emerging trends and the management practices of media executives. This is the fourth year that the survey has run, and already we are seeing immense changes in the way media firms are adapting to a changing competitive landscape. This year, the focus of the survey has been on assessing media firm capabilities and the ability to adapt media strategy, business models and capabilities to new industry dynamic...

Value network dynamics and industry evolution

NARCIS (Netherlands)

Vermeulen, B.

2012-01-01

Machines, appliances, and consumption goods are developed and produced in value networks populated by firms ranging from final assemblers, component suppliers, complement providers, the suppliers’ suppliers, all the way upstream to firms that extrude raw material. Evolutionary models of industry

VISIT OF HUNGARIAN FIRMS AT CERN

CERN Multimedia

C.L. Jullien-Woringer

2002-01-01

26 - 27 MARCH 2002 26 March: The companies will contact directly potential users interested in their products. 27 March: 09h00 to 17h30 The firms will be in the Main Building - Pas Perdus List of Companies: EGI Contracting Engineering Co. Ltd. SILEX Industrial Automation Ltd. CAT-SCIENCE Bt. MTA ITA LAI Cerntech Ltd. Meditor Ltd. Detailed information on the companies is also available on the Web. For further information please contact Mrs C.L. Jullien-Woringer (tel. 73722-76360).

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

Directory of Open Access Journals (Sweden)

Lijun Xia

2008-06-01

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

ECO-INDUSTRIAL PARK - A TOOL FOR SUSTAINABLE DEVELOPMENT

Directory of Open Access Journals (Sweden)

BUGNAR NICOLETA GEORGETA

2013-07-01

Full Text Available Local communities embracing the concept of Eco-industrial park are looking for some additional benefits for all the interested parties – both public and private: higher economic efficiency, the increase of competitivity by applying last minute technologies, generation of additional revenues through positive regulations at the community level, the creation of jobs, solving the conflict between economy and environment, diminishing the demand on the county infrastructure, decreasing the effects of pollution, using energy from regenerating sources and replacement materials. Communities and enterprises creating Eco-industrial parks will have common grounds for industrial development, which is much more competitive, more efficient and much cleaner than traditional industrial parks. Moreover, the new business niches will be open to recruitment or new incubators. Eco-industrial parks represent a special category compared to industrial parks, a category which is different from the classical ones due to the fact that they are designed in such a way so that they promote the collaboration between companies in order to reuse recyclable materials and green energy sources. A long-term vision must reflect the focus on the creation of collaboration networks between firms and the fact that an Eco-industrial park should be a business community, not only a mathematical sum of companies located in the same geographical area. The quality, continuity and interconnection of economic flows within the firms of an Eco-industrial park are important characteristics for the success of Eco-industrial networks. The following discussion tackles the way in which an Eco-industrial park is set-up: creating and implementing an Eco-industrial park in accordance with the principles of circular economy or transforming an already existing industrial park into an Eco- industrial park. The quality, the continuity, the number of interconnected firms, the flows of resources and the

The Danish fabricated metal industry:

DEFF Research Database (Denmark)

Hansen, Teis

2010-01-01

This paper aims to contribute to the knowledge on innovation processes in low- and medium-low-tech industries. Today, industries characterised as high-tech are perceived to be central to economic development, as the research intensity shields them from competition from low-wage countries....... This is less the case for low-tech industries, but their economic importance continues to be large, however. It is thus interesting to analyse how they manage to remain competitive. The analysis focuses on a case study of the fabricated metal industry by identifying the innovation strategies followed by firms...... located in a part of Jutland, where this industry has experienced growth. It is found that the ability to create tailor-made solutions is central to the competitiveness of these medium-low-tech firms. Knowledge is thus highly important, yet in different ways than for high-tech industries. This illustrates...

Organizational structure and performance in dutch small firms

NARCIS (Netherlands)

Meijaard, J; Brand, MJ; Mosselman, M

The relationship between organizational structure and performance in small. firms has received relatively limited attention over the last few decades. In understanding small. firm performance this seems to be a serious omission. In this paper, we first present the rationale for including

The Theory of Benchmarking and the Measurement of Industrial Organization

NARCIS (Netherlands)

Ten Raa, T.

2006-01-01

If more productive firms grow relatively fast, an industry performs better, even when no firm exhibits technical or efficiency change.In other words, the two well-known sources of productivity growth-technology and efficiency-can be augmented by a third one, namely the industrial organization

Spanish mining industry. Working mines. Research. Equipment. La mineria espanola. Explotaciones. Investigacion. Equipos

Energy Technology Data Exchange (ETDEWEB)

1982-01-01

The Spanish mining industry and the work of the organizations AITEMIN (Asociacion de Investigacion Tecnologica de Equipos Mineros), Laboratorio Oficial J.M. Madariaga, Instituto Geologico y Minero de Espana and Empresa Nacional Adaro de Investigaciones Mineras S.A. are described. A list of firms which are members of AITEMIN or SERCOBE (Asociacion Nacional de Fabricantes de Bienes de Equipo) is given. For each firm, the address and equipment manufactured is included.

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...

Canadian photovoltaic industry directory --1998

International Nuclear Information System (INIS)

1998-01-01

The directory is intended to help potential PV customers identify Canadian-based companies who can meet their needs, and to help product manufacturers and distributors identify potential new clients and/or partners within the PV industry for new and improved technologies leading to greater end-use customer satisfaction. The principal feature of the directory is an information matrix that identifies the product and service types offered by each firm and the primary clients served. There is also a list of companies by province and territory, followed by an alphabetical listing of all companies, with detailed information including, mailing address, contact person, prime activity, geographic area served, languages in which services are provided, and a brief company profile. Additional information provided by the companies themselves, dealing with items such as number of systems sold, the total installed capacity, etc., is included in an 'experience matrix' for each firm. Sources of additional information on photovoltaic systems are included in a list at the end of the directory

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...

Firm size and export performance: some empirical evidence

OpenAIRE

Owen Gabbitas; Paul Gretton

2003-01-01

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

The Role of Technology Spillovers in the Process of Water Pollution Abatement for Large International Firms

Directory of Open Access Journals (Sweden)

Luigi Aldieri

2017-05-01

Full Text Available The objective of this paper is to analyze the effects of technology externalities stemming from different technological sectors for international firms engaged both in water pollution abatement and in dirty activities. We present a theoretical framework and an empirical analysis based upon a dataset composed of worldwide R&D-intensive firms. In order to identify the technological proximity between the firms, we construct an original Mahalanobis environmental industry weight matrix, based on the construction of technological vectors for each firm, with European ecological patents distributed across more technology classes. Opportune econometric techniques that deal with the firms’ unobserved heterogeneity and the weak exogeneity of the explanatory variables are implemented. The findings show significant spillover effects on the productivity and environmental performance of the firms.

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

Directory of Open Access Journals (Sweden)

Bo Qin

2012-01-01

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

Aspects of Market Differentiation in the Building Industry

Directory of Open Access Journals (Sweden)

Ai-Lin Teo

2012-11-01

Full Text Available This paper deals with different aspects of differentiation as a strategy to maintain growth and profitability in a rapidly changing environment. The specific aim of the study was to establish constraints in the use of product differentiation as a survivor technique in the building industry. The study shows that firms in the building industry perceive the structure and operation of different markets in the building industry as substantially different. If firms are to improve their market positions by differentiating their output, they need therefore to adjust the way they operate, their resources and their skills base.The survey result also showed that a substantial proportion of all firms are not prepared to be involved in diversification but elect to operate in one market only, despite the obvious advantages of diversification. It would therefore seem likely that the changes in the way a firm operates and the resources it employs when it moves into new markets are substantial.

Why there? Decomposing the choice of target industry

OpenAIRE

Lien, Lasse B.; Klein, Peter G.

2013-01-01

How do diversifying firms chose their target industries? We explore target-industry choice empirically by focusing on the relative importance of target-market characteristics and the focal firm’s resources and capabilities. We avoid some key restrictions in earlier work by using a measure of relatedness that is highly general and flexible, using population-level data, and including measures of resource strength in addition to resource relevance. We find that the match between the acquiring an...

Industry Differentiation in the Innovation-Exporting Business Models of SMEs

DEFF Research Database (Denmark)

Child, John; Hsieh, Linda; Elbanna, Said

. This paper addresses these two research gaps by investigating whether there is a systematic variation in the specifics of the innovation-exporting business models adopted by SMEs according to their industry membership. The sample of 180 firms includes an equal number of SMEs actively engaged in exporting...... and located in the clothing, software and biotechnology industries across six economies. The results indicate that SMEs in each industry follow distinctive business models with respect to innovation and exporting. It is concluded that industry is an institutionalized socio-technical system of considerable...

Service Innovation in Industrial Contexts

OpenAIRE

Kowalkowski, Christian

2016-01-01

Both academics and practitioners emphasize the importance for product firms of pursuing service innovation. Despite a strategic focus on service-led growth, however, many firms struggle to succeed with their service innovation initiatives. In order to increase our understanding of the nature of service innovation in product firms, this chapter discusses the specificities in, and dynamics of, service offerings, service processes, and business models in industrial contexts. First, it outlines k...

Impact of Strategic Orientation Dimensions on New Product Development in Agro-based Nigerian Firms

OpenAIRE

Ibidunni Ayodotun Stephen; Falola Hezekiah Olubusayo

2013-01-01

This study explores the impact of strategic orientation dimensions on new product development capability of firms in the agro-business industry. The study based on questionnaires administered to selected agro-based firms in Lagos and Ogun states (Nigeria) utilized descriptive statistics, Pearson’s correlation to analyze the data obtained for the study. Results of data analysis showed that there exist positive relationship between strategic orientation dimensions and new product development. H...

Industry 4.0 and how purchasing can progress and benefit from the fourth industrial revolution

NARCIS (Netherlands)

Torn, Isaäc Anthony Robbert-Jan; Pulles, Niels Jaring; Schiele, Holger

2018-01-01

Since its’ announcement in 2011, the number of scientific publications on Industry 4.0 is growing exponentially. Significant investments by industrial firms, at present and planned for the coming years, indicate the expectations by the industry in terms of increased productivity because of the

An inquiry on dimensions of external technology search and their influence on technological innovations: evidence from Chinese firms

DEFF Research Database (Denmark)

Li-Ying, Jason; Wang, Yuandi; Salomo, Søren

2014-01-01

A central part of technological innovation for industrial firms involves search for new external knowledge. A well‐established stream of literature on firms' external knowledge search has demonstrated that firms investing in broader search may have a great ability to innovate. In this paper, we...... explore the influences of technology search on firms' technological innovation performance along three distinctive dimensions: technical, geographic, and temporal dimensions, using a unique panel data set containing information on Chinese firms that were active in technology in‐licensing and patenting...... during the period 2000–2009. Our findings reveal that Chinese firms' technological innovation performances are related to external technology search in quite different ways from the ones suggested in the extant literature using evidence from developed countries. We find that Chinese firms searching...

Endogenous network of firms and systemic risk

Science.gov (United States)

Ma, Qianting; He, Jianmin; Li, Shouwei

2018-02-01

We construct an endogenous network characterized by commercial credit relationships connecting the upstream and downstream firms. Simulation results indicate that the endogenous network model displays a scale-free property which exists in real-world firm systems. In terms of the network structure, with the expansion of the scale of network nodes, the systemic risk increases significantly, while the heterogeneities of network nodes have no effect on systemic risk. As for firm micro-behaviors, including the selection range of trading partners, actual output, labor requirement, price of intermediate products and employee salaries, increase of all these parameters will lead to higher systemic risk.

78 FR 32366 - Notice of Petitions by Firms for Determination of Eligibility To Apply for Trade Adjustment...

Science.gov (United States)

2013-05-30

... blanking die stampings. J&L Dimensional Services, Inc 16 Industrial Parkway, 5/17/2013 Firm is a finisher... Rock, CO 80109. artificial stone and stone veneer products. Peet Shoe Dryer, Inc. (dba Peet Dryer).. 919 St. Maries River Road, 5/20/2013 Firm manufacturers St. Maries, ID 83861. electric shoe footwear...

Inter-firm relations in global manufacturing: disintegrated production and its globalization

NARCIS (Netherlands)

Herrigel, G.; Zeitlin, J.; Morgan, G.; Campbell, J.; Crouch, C.; Pedersen, O.K.; Whitley, R.

2010-01-01

This chapter surveys the state of international scholarly debate on inter-firm relations in global manufacturing. It focuses on the evolving strategies of customers and suppliers within the value chains of core manufacturing industries, such as motor vehicles and complex mechanical engineering

Broadening Industry Governance to Include Nonproliferation

Energy Technology Data Exchange (ETDEWEB)

Hund, Gretchen; Seward, Amy M.

2008-11-11

As industry is the first line of defense in detecting and thwarting illicit trade networks, the engagement of the private sector is critical to any government effort to strengthen existing mechanisms to protect goods and services throughout the supply chain. This study builds on previous PNNL work to continue to evaluate means for greater industry engagement to complement and strengthen existing governmental efforts to detect and stem the trade of illicit goods and to protect and secure goods that could be used in making a weapon of mass destruction. Specifically, the study evaluates the concept of Industry Self Regulation, defined as a systematic voluntary program undertaken by an industry or by individual companies to anticipate, implement, supplement, or substitute for regulatory requirements in a given field, generally through the adoption of best practices. Through a series of interviews with companies with a past history of non-compliance, trade associations and NGOs, the authors identify gaps in the existing regulatory infrastructure, drivers for a self regulation approach and the form such an approach might take, as well as obstacles to be overcome. The authors conclude that it is at the intersection of industry, government, and security that—through collaborative means—the effectiveness of the international nonproliferation system—can be most effectively strengthened to the mutual benefit of both government and the private sector. Industry has a critical stake in the success of this regime, and has the potential to act as an integrating force that brings together the existing mechanisms of the global nonproliferation regime: export controls, physical protection, and safeguards. The authors conclude that industry compliance is not enough; rather, nonproliferation must become a central tenant of a company’s corporate culture and be viewed as an integral component of corporate social responsibility (CSR).

Waste Management in Industrial Construction: Investigating Contributions from Industrial Ecology

OpenAIRE

Larissa A. R. U. Freitas; Alessandra Magrini

2017-01-01

The need for effective construction waste management is growing in importance, due to the increasing generation of construction waste and to its adverse impacts on the environment. However, despite the numerous studies on construction waste management, recovery of construction waste through Industrial Symbiosis and the adoption of other inter-firm practices, comprised within Industrial Ecology field of study, have not been fully explored. The present research aims to investigate Industrial Ec...

Pushing Firm Boundaries through Research and Open Innovation

DEFF Research Database (Denmark)

Borup Lynggaard, Aviaja

2011-01-01

In this paper we will exemplify open innovation through a university-industry collaboration called Mobile Home Center (MHC). We will demonstrate how the model by Chesbrough can be used as a tool for mapping out a research process and furthermore illustrate what kind of outcast such project can...... provide into the company and bring forward the effect it has inside a company when performing open innovation together with research partners. We seek to bring forward how performing university-research collaboration can also change the practices inside a company and thus push the firm boundaries in new...... directions. Rather than looking at the firm as something static we will demonstrate how Chesbrough’s model on Open Innovation can be used to illustrate the dynamics of a company’s boundaries through Open Innovation....

Managing innovation in SMEs product development in small Irish electronics firms

CERN Document Server

Ledwith, Ann; Bessant, John

2009-01-01

Innovating and developing new products is critical for the survival and growth of any small firm but particularly for technology based firms. This study of NPD at small Irish electronics firms makes two main contributions to knowledge. Firstly, the management of NPD at small firms is found to be different from that at large firms in several respects including; NPD resources and expenditure, organising for NPD, NPD process proficiency, marketing and technical skills and proficiency, R&D/marke...

Industrial Assessment Center Program Impact Evaluation

Energy Technology Data Exchange (ETDEWEB)

Martin, M.A.

2000-01-26

This report presents the results of an evaluation of the U.S. Department of Energy's Industrial Assessment Center (IAC) Program. The purpose of this program is to conduct energy, waste, and productivity assessments for small to medium-sized industrial firms. Assessments are conducted by 30 university-based industrial assessment centers. The purpose of this project was to evaluate energy and cost savings attributable to the assessments, the trained alumni, and the Websites sponsored by this program. How IAC assessments, alumni, and Web-based information may influence industrial energy efficiency decision making was also studied. It is concluded that appreciable energy and cost savings may be attributed to the IAC Program and that the IAC Program has resulted in more active and improved energy-efficiency decision making by industrial firms.

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

DEFF Research Database (Denmark)

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

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

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 ...

Organisation, ‘anchoring’ of knowledge, and innovation in the construction industry

DEFF Research Database (Denmark)

Drejer, Ina; Vinding, Anker Lund

2004-01-01

explanation for the relatively poor innovation performance of the industry. Using survey data from the Danish construction industry the paper investigates the importance of learning and ?anchoring? of project specific knowledge within the firms for facilitating engagement in innovative activities...... at the firm level. The data refer to the overall Danish construction industry, as well as a specific region, North Jutland, which is relatively specialised in construction. By using latent class and regression analysis the results show that firms, which to a high extent make use of partnering and other...... interorganisational features, combined with internal product and process evaluation and knowledge diffusion, are more likely to engage in innovative activities than firms that make less use of what we label ?knowledge anchoring mechanisms?. This indicates that there are ways for firms to compensate for the problems...

AN INTER-TEMPORAL ANALYSIS OF OPERATIONAL EFFICIENCY OF OIL FIRMS: FURTHER EVIDENCE FROM NIGERIA

Directory of Open Access Journals (Sweden)

David Mautin Oke

2013-01-01

Full Text Available There have been growing needs to investigate oil and gas firms more closely due to their corporate scandals. Globally, oil firm managements have become more risk intolerant. They are sometimes under pressure to deliver results within a short time, which often negatively affect their ability to undertake risky ventures that are rewarding.Applying the Data Envelopment Analysis, this paper shows a high level of technical operational inefficiency of 0.51 in Nigerian oil industry over the period 2006-2009. The fall in technical efficiency of the oil firms in 2009 might be attributed to the banking crisis in Nigeria in 2009 that affected financial operations of some oil firms that relied on banking credits for running their business, and the fall in global oil prices relative to mid 2008.

The UN global compact and firms from emerging economies

OpenAIRE

Çetindamar, Dilek; Cetindamar, Dilek

2013-01-01

This paper will focus on the role of corporate social responsibility (CSR) on the environmental behavior of firms. The empirical study was conducted in 2004 among Turkish firms that included members of United Nations Global Compact network.

Capital structure and value firm: an empirical analysis of abnormal returns

Directory of Open Access Journals (Sweden)

Faris Nasif AL-SHUBIRI

2010-12-01

Full Text Available This study investigates whether capital structure is value relevant for the equity investor. In this sense, the paper links empirical corporate finance issues with investment analysis. This study also integrates the Miller-Modigliani (MM framework (1958 into an investment approach by estimating abnormal returns on leverage portfolios in the time-series for different risk classes. For most risk classes, abnormal returns decline in firm leverage. Descriptive statistics, simple and multiple regressions are used to test the hold indicator significance. The results reflect that the designed measures are the negative relationship between returns and leverage could also be due to the market’s pricing of the firm’s ability to raise funds if need be. Further avenues for research in this area include examining the stock return performance of companies based on the changes in leverage of the firms relative to their risk classes. It would be particularly noteworthy to examine the rate at which the information content of said changes is incorporated in the share prices of companies as well as in their long run returns This study encompasses all non-financial firms across the five sectors that cover all the various classes of risk. This study investigates neither the determinants of multiple capital structure choices nor changes in capital structures over time. Our main goal is to explore the effect of capital structure on cumulative abnormal returns. This study also examine a firm’s cumulative average abnormal returns by measuring leverage at the firm level and at the average level for the firm’s industry. And also examine other factors, such as size, price earnings, market-to-book and betas.

Which competitive advantages can firms really obtain from ISO14001 certification?

Directory of Open Access Journals (Sweden)

Josefina Lucia Murillo-Luna

2008-12-01

Full Text Available Ten years after the introduction of ISO14001, in this paper we present empirical evidence about the competitive advantages that managers associate to this environmental practice, from a sample of industrial firms located in Spain. The results indicate that the potential competitive advantages are: improvement of the internal efficiency, differentiation advantages, attention to the stakeholders’ requirements, enhancement of the competitive position in the sector and financial savings. Nevertheless managers’ expectations of improving internal efficiency might be the real reason that encourages firms to make the voluntary decision of investing in ISO14001 certification.

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

DEFF Research Database (Denmark)

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

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

A Statistical Analysis of Industrial Penetration and Internet Intensity in Taiwan

Directory of Open Access Journals (Sweden)

Chia-Lin Chang

2018-03-01

Full Text Available This paper is the first to investigate the effect of industrial penetration (geographic concentration of industries and internet intensity (the proportion of enterprises that uses the internet for Taiwan manufacturing firms, and analyses whether the relationships are substitutes or complements. The sample observations are based on a unique set of data, namely 153,081 manufacturing plants, and covers 26 two-digit industry categories and 358 geographical townships in Taiwan. The Heckman sample selection model is used to accommodate sample selectivity for unobservable data for firms that use the internet. The empirical results from Heckman’s two-stage estimation show that: (1 a higher degree of industrial penetration will not affect the probability that firms will use the internet, but it will affect the total expenditure on internet intensity; (2 for two-digit SIC (Standard Industrial Classification industries, industrial penetration generally decreases the total expenditure on internet intensity; and, (3 industrial penetration and internet intensity are substitutes.

Environmental management of the stone cutting industry in Hebron, Palestine

International Nuclear Information System (INIS)

Nasserdine, K.; Mimi, Z.

2007-01-01

Environmental Management of stone cutting industry in Hebron, Palestine, is required to reduce the industry's adverse impacts on the downstream agricultural land and on the drinking water aquifers. This situation required the implementation of an industrial waste water management strategic approach and technology within the environmental need and available technical and financial resources. Ten pilot projects at different locations were built at Hebron to reduce or eliminate the incompatible discharge of the liquid and solid waste to the environment and improve the stone cutting industry's effluent quality. A review of existing practices and jar test experiments were used to optimize the water recycling and treatment facilities. The factors reviewed included influent pumping rates and cycles, selection of the optimal coagulant type and addition methods, control of sludge recycling process, control over flow rates, control locations of influent and effluent and sludge depth. Based on the optimized doses and Turbidity results, it was determined that the use of Fokland polymer with an optimal dose of 1.5 mg/L could achieve the target turbidity levels. The completion of pilot projects resulted in the elimination of 18% of the total stone cutting waste discharges in Hebron. The results included an improvement in the recycled effluent quality by 44.99%. This in turn reduced the long term operating costs for each participating firm. A full-scale project that will include all the stone cutting firms in Hebron industrial area is required. (author)

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

Directory of Open Access Journals (Sweden)

Guanie LIM

2014-01-01

Full Text Available This paper examines the rationale by which mainland Chinese firms choose their coalition partners in their Malaysian ventures. I explore how, under certain political economic conditions, such cross-border investment and corporate tie-ups can be shaped to meet the Malaysian state’s objectives. I argue that the Malaysian state has enjoyed success in the construction sector by nurturing cooperation between its carefully groomed government-linked companies and mainland Chinese firms. Government-linked companies are useful coalition partners for the mainland Chinese firms because of the crucial role the state plays in creating a largely non-competitive industry that favours government-linked companies. Outside of the construction sector, however, the state has enjoyed markedly less success in fostering cooperation between the mainland Chinese firms and the government-linked companies. Consequently, the mainland Chinese firms possess more bargaining power vis-à-vis the state when they invest in these sectors, enjoying considerable autonomy in the selection of their coalition partners.

Non-invasive estimation of firmness in apple fruit using VIS/NIR spectroscopy

DEFF Research Database (Denmark)

Martínez, M.; Wulfsohn, Dvora-Laio; Toldam-Andersen, Torben Bo

2012-01-01

Better and steady fruit quality evaluation at harvest is a major challenge for commercial growers of apples in Denmark. Those fruits not meeting the requirements for the fresh market traditionally go to the juice concentrate industry where low cost products are obtained. Special fruit qualities...... are needed to develop commodities that can obtain a premium added value on the market. Nowadays in the food industry, quality evaluation is commonly performed non-destructively by means of optical sensors such as spectrometers, hyperspectral and multispectral cameras, that allow rapid measurements of fruit...... as for eating apples. Invasive and non-invasive measurements of firmness, on the shaded and exposed side of the fruits were carried out for three Danish apple cultivars of known commercial usage. Resulting data determined wavelengths between 415 to 715 nm to be predictive for firmness. A PLS model for all three...

The Financial Factors that Determine the Profitability: An Application on Manufacturing Firms Traded in BIST

Directory of Open Access Journals (Sweden)

Mesut DOĞAN

2016-01-01

Full Text Available This paper examines the determinants of financial profitability firms listed in Borsa Istanbul (BIST. The study made use of data of 136 firms continuously active in BIST manufacturing industry between 2005 and 2012. In the study, panel data analysis was used. According to the findings it is determined that Return on Equity and Return on Assets have a positive relationship with the total assets, however, leverage ratio have a negative relationship. In addition, a statistically insignificant relation was established between firm age, liquid ratio and profitability. Findings of the research are important for investors, researchers, executives of business.

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

Industrial diversification and performance in an emerging market

Directory of Open Access Journals (Sweden)

Yücel Emel

2016-01-01

Full Text Available In this study, we investigated the relationship between industrial diversification and firm performance using a market-based performance measure and an accounting measure. We used the data of the firms listed on Borsa Istanbul during the period between 2006 and 2012. The results of the panel data indicate that there is a significant positive relationship between diversification and performance. We found that diversified firms outperformed the single firms. As is compatible with a resource-based approach, it was found that diversified firms tended to use their resources more efficiently compared to single firms.

Australian mineral industry annual review 1977 (including information to June 1978)

Energy Technology Data Exchange (ETDEWEB)

Ward, J

1979-01-01

This article records growth of the Australian mineral industry and reports production, consumption, treatment, trade, prices, new developments, exploration, and resources for all mineral commodities including fuels. Equivalent development abroad is summarized. Appendices include principal mineral producers, associations, etc. and royalties. Black coal is described under the headings: production, ex-mine value of output, employment, wages and salaries, production per manshift, interstate trade, port facilities, consumption, stock, prices, new developments, exploration, resources, world review, and coke. There are numerous tables of data and a flow chart of the Australian black coal industry, 1977. Brown coal includes production, consumption, new developments, exploration, resources, and world review.

Price Rigidity and Industrial Concentration: Evidence from the Indonesian Food and Beverages Industry

NARCIS (Netherlands)

Setiawan, M.; Emvalomatis, G.; Oude Lansink, A.G.J.M.

2015-01-01

This paper investigates the relationship between industrial concentration and price rigidity in the Indonesian food and beverages industry. A Cournot model of firm behavior is used in which prices adjust according to a partial adjustment mechanism. The model is applied to panel data of the

Strategy-Based Segmentation of Industrial Markets

NARCIS (Netherlands)

Verhallen, Theo M.M.; Frambach, Ruud T.; Prabhu, Jaideep

Segmentation of industrial markets is typically based on observable characteristics of firms such as their location and size. However, such variables have been found to be poor predictors of industrial buying behavior. To improve the effectiveness and power of existing approaches to industrial

The impact of structural capital on the firm Innovativeness, the Galician Northern Portugal automotive industries reality

OpenAIRE

Helena Santos-Rodrigues; Pedro Figueroa; Carlos Maria Jardon

2011-01-01

The intellectual capital is increasingly considered a major issue on the management and organization research and a source of competitive advantage. Although there are different models and approaches that try to identify the effect of intellectual capital on firm performance, there's, also a lack of evidence and consensus. Based on that evidence, this paper focuses on the influence of the structural capital on the product- process and management innovativeness of the firm. A global model incl...

FOOD ENTREPRENEUR SUSTAINABLE ORIENTATION AND FIRM PRACTICES

Directory of Open Access Journals (Sweden)

Mark A. Gagnon

2016-10-01

Full Text Available 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 sustainable practices. However our qualitative results indicate positive relationships between sustainable orientation, mindset and practices. Evidence from this work highlights the critical role of founding entrepreneurs for successful implementation of sustainability along its multiple fronts including profitability.

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...

Outlook optimistic for 1997 E and P industry

International Nuclear Information System (INIS)

Popov, S.

1997-01-01

The ninth annual Arthur Andersen Oil and Gas Industry Outlook Survey of company executives' forecasts for the US exploration and production industry were presented last month at the 17th Annual Energy Symposium. The consulting firm surveyed the chief financial officers of more than 350 US E and P companies, with 92 companies responding, including 8 majors, 9 large and 75 small independents. Overall, top E and P company executives predict 1997 to be a healthy year for the oil and gas industry. The paper discusses demand and supply, oil and gas prices, capital spending, employment, rig counts and availability, problems and opportunities

Technical efficiency of FDI firms in the Vietnamese manufacturing sector

Directory of Open Access Journals (Sweden)

Vu Hoang Duong

2016-09-01

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

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....

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

DEFF Research Database (Denmark)

Li, Ying; Meijer, Elise; Duysters, Geert

2010-01-01

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

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...

Foreign investment, divestment and relocation by Japanese electronics firms in East Asia

NARCIS (Netherlands)

Belderbos, R.A.; Zou, J.

2006-01-01

Although foreign divestment and international relocation by multinational firms carry important economic implications for the industrialization of East Asian countries, there has been little empirical research on these issues. In this paper we analyze the magnitude and pattern of foreign divestment

76 FR 19472 - Consolidated Glass and Mirror Corporation, a Subsidiary of Guardian Industries Corporation, Galax...

Science.gov (United States)

2011-04-07

... Mirror Corporation, a Subsidiary of Guardian Industries Corporation, Galax, VA; Notice of Negative... and Mirror Corporation, a Subsidiary of Guardian Industries Corporation, Galax, Virginia (subject firm... firm, stated that the Galax, Virginia facility is owned by ``Guardian Industries, a [[Page 19473...

Assessing the impact of oil prices on firms of different sizes: Its tough being in the middle

International Nuclear Information System (INIS)

Sadorsky, Perry

2008-01-01

Recent empirical research has found evidence of a relationship between oil price movements and stock prices. Most published research investigates the relationship between oil price movements and stock prices using either economy-wide measures of stock prices or industry sector measures of stock prices. An important question that has largely gone unanswered relates to the relationship between oil prices and stock prices when the size of firms is allowed to vary. Relative to large firms, do oil price movements have larger or smaller impacts on the stock prices of small- or medium-sized firms? The answer to this question could have important policy implications that affect economic growth and prosperity. In this paper, a panel of firms is followed over a 17-year period to investigate the relationship between oil price movements, firm size, and stock prices. Evidence is found that shows the relationship between oil price movements and stock prices does vary with firm size and the relationship is strongest for medium-sized firms