Cash flow vs. collateral-based credit: performance of micro, small and medium-sized firms in transition economies

Czech Academy of Sciences Publication Activity Database

Cassano, F.; Joeveer, K.; Švejnar, Jan

2013-01-01

Roč. 21, č. 2 (2013), s. 269-300 ISSN 0967-0750 R&D Projects: GA ČR GAP402/10/2130 Institutional support: PRVOUK-P23 Keywords : micro, small and medium-sized enterprises * bank credit * firm performance Subject RIV: AH - Economics Impact factor: 0.755, year: 2013

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.

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 impact of relational governance on performance improvement in export manufacturing firms

Directory of Open Access Journals (Sweden)

Usama Awan

2018-05-01

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

Sustainability in Small and Medium-Sized Manufacturing Enterprises: An Empirical Study

Directory of Open Access Journals (Sweden)

I. Garbie

2016-06-01

Full Text Available The main goal of this paper is to analyze and investigate sustainable practices in small and medium-sized manufacturing enterprises (SMEs. A comprehensive analysis and a mathematical framework are used to assess the sustainability indexes (SDIs of each aspect/issue and pillar/dimension, and of the whole manufacturing enterprise. Sustainability in the whole manufacturing enterprise is represented by the sustainable development index (SDI. The results show that there is a significant difference in SDIs between aspects and dimensions, with economic sustainability representing the highest percentage in the SDI. Also, the results show that industrial companies are adopting sustainable practices and applying them to most of the issues/aspects of the dimensions, and they can direct manufacturing companies in the industrial sector to develop strategies for sustainability. This paper introduces a new understanding of the practices and implementation of sustainability/sustainable development by SMEs through assessing the SDIs.

Challenges Fostering Unwillingness to Form Strategic Alliances among Medium-Sized Manufacturing Firms in Tanzania

OpenAIRE

Kafigi Jeje

2014-01-01

For many years, strategic alliances have attracted the attention of researchers. The most researched area is the challenges facing the development and maintenance of strategic alliances. Most studies on alliance challenges have concentrated on strategic alliances among large firms in developed economies. Little research has been done on the link between these challenges and firms¡¯ unwillingness to form strategic alliances. We therefore want to find whether the unwillingness to form strategic...

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...

Gender diversity and innovation in manufacturing and service firms

OpenAIRE

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

2015-01-01

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

THE RELATIONSHIP BETWEEN ORGANISATIONAL COMPETITIVE ADVANTAGE AND PERFORMANCE MODERATED BY THE AGE AND SIZE OF FIRMS

Directory of Open Access Journals (Sweden)

Alimin Ismadi Ismail

2010-07-01

Full Text Available It has been argued that achieving a position of competitive advantage is a necessary precursor to a firm's significant performance. This paper will empirically examine the potential moderating variables that could affect the relationship between a firm's competitive advantage and performance, namely the firms' age and size. By examining the relative moderating effects of these variables, this paper delivers valuable information to firms, specifically with regard to strategic management directed toward performance and attaining a competitive advantage. This research was conducted among 127 manufacturers listed in the 2008 Federation of Malaysian Manufacturers Directory. A cross- sectional study was conducted using a structured questionnaire to obtain responses from the manufacturers. A two-way ANOVA shows that only the age of firms is a significant moderator in the relationship between competitive advantage and performance, and that this relationship is stronger for older firms. The size of firms does not significantly moderate the relationship between competitive advantage and performance. Despite the non-significant moderating effect of firms' size, overall, this study provides empirical support for the Resource-Based View (RBV of Malaysian manufacturers regarding the issue of competitive advantage.

Service-Oriented Strategies for Manufacturing Firms

DEFF Research Database (Denmark)

Tan, Adrian; McAloone, Tim C.; Matzen, Detlef

2009-01-01

This chapter establishes PSS (Product/Service-Systems) approaches in the context of manufacturing firms and their existing product-oriented business. PSS can be seen as a strategy for manufacturing firms to gain competitive advantage in the market, but what market conditions and organisational......, customers and partners in business planning and strategy to reap the full benefits. Finally a path to how manufacturers can make the change from product to service-orientation is traced....

Decision-makers' Risk Perception in the Internationalisation of Small and Medium-Sized Firms

DEFF Research Database (Denmark)

Eduardsen, Jonas Strømfeldt; Marinova, Svetla Trifonova

2016-01-01

awareness exists, decision-makers do not perceive internationalisation as risky behaviour. Findings highlight the importance of decision-makers’ background, including cognitive and psychological characteristics, such as self-efficacy and locus of control, and their experiences in explaining risk perceptions......This study examines the risk perception of decision-makers in small and medium sized enterprises (SMEs) and the factors underlying these perceptions in the process of internationalization of their firms. While risk perception has been identified as a potential predictor variable...... in internationalisation research, very little work has been done exploring the factors and processes that shape decision-makers’ perception of risk. A qualitative interview-based approach was adopted by collecting data from thirty-two Danish SMEs operating in four different industries. Findings suggest that while risk...

MANAGERIAL OPTIMISM AND DEBT FINANCING: CASE STUDY ON INDONESIA MANUFACTURING LISTED FIRMS

Directory of Open Access Journals (Sweden)

Gesti Memarista

2016-10-01

Full Text Available Managerial’s psychology can affect financial decision in the company. This paper analyzes the influence of managerial optimism on the debt financing by using regression analysis. The dependent variable in this paper is debt financing. The independent variable is managerial optimism and the control variable are firm value, firm size, and firm performance that are occurred in the previous period. The sample used in this study is manufacturing companies that listed in Indonesian stock exchange during 2010-2014. The result on this study shows that managerial optimism, firm value, and firm size that are occurred in the previous period have positive significantly impact on debt financing, whereas firm performance in the previous period has negative significantly impact on debt financing.

Implementation of Lean Six Sigma in small- and medium-sized manufacturing enterprises in the Netherlands

NARCIS (Netherlands)

Timans, W.; Antony, J.; Ahaus, K.; van Solingen, R.

In this paper we provide an exploration and analysis of Lean Six Sigma (LSS) implementation in Dutch manufacturing/engineering small- and medium-sized enterprises (SMEs). Critical success factors (CSFs) and impeding factors are identified and analysed. Exploratory empirical evidence about LSS

Unions in small and medium-sized enterprises

DEFF Research Database (Denmark)

Holten, Ann-Louise; Crouch, Colin

2014-01-01

Trade unions are commonly weak in small- and medium-sized enterprises, which constitute a majority of European firms and are often family-owned. We investigate the influence of family ownership on employee membership, perceptions and experience with unions in Danish and Italian firms in the textile...... and clothing sector. Family ownership reduces union membership; and within family firms, the number of family members employed is negatively associated with unionization rates and employee perceptions of unions....

Focus of B-to-B e-commerce initiatives and related benefits in manufacturing small- and medium-sized enterprises

NARCIS (Netherlands)

Elie, E.; Lefebvre, L.A.; Lefebvre, E.

2007-01-01

Empirical research into business-to-business e-commerce issues involving manufacturing small- and medium-sized enterprises (SMEs) is still embryonic. In an attempt to partially fill this gap, this paper presents empirical data from an electronic survey conducted among 96 manufacturing SMEs to

Current information technology needs of small to medium sized apparel manufacturers and contractors

Energy Technology Data Exchange (ETDEWEB)

Wimple, C., LLNL

1998-04-01

This report documents recent efforts of the American Textile Partnership (AMTEX{sup TM}) Demand Activated Manufacturing Architecture (DAMA) Project to identify opportunities for cost effective enhanced information technology use by small to medium sized apparel manufacturers and contractors. Background on the AMTEX/DAMA project and objectives for the specific DAMA Small and Medium Enterprise (SME) effort are discussed in this section. The approach used to gather information about current opportunities or needs is outlined in Section 2 Approach, and relevant findings are identified and a brief analysis of the information gathered is presented in Section 3 Findings. Recommendations based on the analysis, are offered in Section 4 Recommendations, and plans are suggested for DAMA follow-on in Section 5 Future Plans. Trip reports for each of the companies visited are contained in Appendix E - Company Trip Reports. These individual reports contain the data upon which the analysis presented in Section 3 Findings is based.

Impact of Top Management Team on Firm Performance in Small and Medium-Sized Enterprises Adopting Commercial Open-Source Enterprise Resource Planning

Science.gov (United States)

Cereola, Sandra J.; Wier, Benson; Norman, Carolyn Strand

2012-01-01

Based on the large number of small and medium-sized enterprises (SMEs) in the United States, their increasing interest in enterprise-wide software systems and their impact on the US economy, it is important to understand the determinants that can facilitate the successful implementation and assimilation of such technology into these firms' daily…

THE STRATEGIC RESPONSE OF SMALL AND MEDIUM-SIZED ENTERPRISE SECTOR FIRMS TO THE SINGLE EUROPEAN MARKET - A COMPARATIVE STUDY

OpenAIRE

BRICKAU, RALF ALEXANDER

1994-01-01

The creation of the post-1992 European Single Market represents a significant change in the business environment confronting firms throughout Europe. Although there is an extensive source of literature available on appropriate strategic responses to the Single Market, very few of these writings contain guidance specifically related to the situation facing small and medium- sized enterprises (SMEs). The objectives of this study are i) to determine important veu-iables which m...

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

Internationalisation Barriers of Small and Medium-sized Manufacturing Enterprises in Ethiopia: Leather and Leather Products Industry in Focus

Directory of Open Access Journals (Sweden)

Yehualashet Demeke Lakew

2015-11-01

Full Text Available The purpose of this study was to examine internationalisation barriers of manufacturing SMEs operating in Leather and Leather Products Industry located in the capital city of Ethiopia. The small and medium sized enterprises (SMEs sector in Ethiopia is a significant group within the economy in terms of firm numbers and total employment. However, the SMEs sector’s share of exports is disproportionately small, which raised considerable research concerns. Firm export propensity was the dependent variable and internal and external export barrier factors were used as explanatory variables. The study was conducted through mixed research design of quantitative survey and case study. From the population of manufacturing SMEs operating in the Leather and Leather products Industry, a sample was selected through the use of stratified random sampling to ensure the effective representation of the population of exporting and non-exporting SMEs in the capital of Ethiopia. In order to complement survey results nine (4 exporting and 5 non-exporting SMEs were selected through critical case purposive sampling and an in-depth interviews were conducted. Statistical package for the social sciences (SPSS 20 was used to analyse the quantitative data whereas, qualitative data were analysed manually. Exploratory factor analysis with Varimax rotation and Binary logistic regression analysis are the analytical methods used. The statistical result showed that, logistics problem, insufficient finance, functional barriers, lack of export knowledge and information, procedural barriers and international trade barriers are the most significant obstacles of export trade in Ethiopia. The overall results revealed that explanatory variables used in the analysis significantly predict the dependent variable at 95% confidence level. Taken together, these results prompted the presentation of numerous implications for theory, practice, and future research. Finally, the paper recommended

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

Directory of Open Access Journals (Sweden)

Mercy Mpinganjira

2011-12-01

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

A Comparison of the Financial Characteristics of U.S. and European Manufacturing Firms

Directory of Open Access Journals (Sweden)

Meric Gulser

2016-08-01

Full Text Available Comparing the financial characteristics of firms in different countries and regions has been a popular research topic in finance. In this paper, we compare the financial characteristics of U.S. and European manufacturing firms with the MANOVA (Multivariate Analysis of Variance method and financial ratios. Our findings indicate that the overall financial characteristics of U.S. and European manufacturing firms are significantly different. We find that U.S. manufacturing firms are more profitable and they have less liquidity and bankruptcy risks compared with European manufacturing firms. European manufacturing firms are more efficient in managing their fixed assets. However, U.S. manufacturing firms are more efficient in managing their accounts receivable and total assets. U.S. manufacturing firms are able to achieve significantly higher sales and total assets growth rates compared with European manufacturing firms.

Customer orientation and innovation : a comparative study of manufacturing and service firms

OpenAIRE

Wang, Qiang; Zhao, Xiande; Voss, Christopher

2016-01-01

This study investigates the effect of customer orientation on innovation performance in manufacturing and service firms by comparing their innovation mechanisms. Based on a sample of 1646 manufacturing firms and 686 service firms, our results indicate that customer orientation positively affects service innovativeness and product innovativeness in service firms and manufacturing firms, respectively, and that such effects are mediated by two important firm resources: supplier collaboration and...

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

Directory of Open Access Journals (Sweden)

Jing Wang

2018-05-01

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

The Effect of Financial Leverage, Employee Stock Ownership Program and Firm Size on Firm Performance of Companies Listed in Indonesia Stock Exchange

Directory of Open Access Journals (Sweden)

Nurainun Bangun

2017-07-01

Full Text Available The purpose of this research is to examine and to obtain affected empirical evidence of financial leverage, firm size and employee stock ownership program (ESOP to firm performance in manufacturing company in Indonesian Stock Exchange on 2013-2015. Independent variables in this research are Financial Leverage (DER, Firm Size and Employee Stock Ownership Program (ESOP. Dependent variables in this research are Return on Assets (ROA and Return On Equity (ROE. The results Showed that the simultaneous test of three independent variables Significantly afftected to the ROA and ROE. The partial tests of Financial Leverage (proxy DER and Firm Size Significantly affected to ROA and ROE. But, the results Showed that the Employee Stock Ownership Program (ESOP did not Affect to ROA and ROE.

Focus of B-to-B e-commerce initiatives and related benefits in manufacturing small- and medium-sized enterprises

NARCIS (Netherlands)

Elie, E.; Lefebvre, L.A.; Lefebvre, E.

2007-01-01

Empirical research into business-to-business e-commerce issues involving manufacturing small- and medium-sized enterprises (SMEs) is still embryonic. In an attempt to partially fill this gap, this paper presents empirical data from an electronic survey conducted among 96 manufacturing SMEs to

New workplace practices and firm performance in manufacturing:

DEFF Research Database (Denmark)

Pozzoli, Dario; Cristini, Annalisa

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

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...

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...

The Effects of Firm Strategic Factors on Manufacturing Companies ...

African Journals Online (AJOL)

The effects of firms' strategic factors on strategic choices and performance differentials in Nigerian manufacturing sectors have not been systematically investigated. Against the backdrop of declining manufacturing performance in Nigeria, this paper examined the effects of selected firm strategic factors on the returns on ...

Linking human capital and enterprise sustainability in Indonesian medium-sized food manufacturing enterprises: the role of informal knowledge sharing practice

Science.gov (United States)

Sunardi, O.

2017-12-01

Medium-sized food manufacturing enterprises in Indonesia are significant in a number of contexts, in terms of their part to the national production (GDP) and their establishment to the employment. In term of their role to national production, manufacturing sector contributes the highest GDP by 85%. In this sector, food manufacturing subsector contributes the highest GDP. Nevertheless, they faced the same common problems: quality of human capital and sustainability issues. Previous government supplementary programs have been established to expand the human capital capability amongst medium enterprises. Adequate amount of fund has been apportioned to develop human capital, though, the medium enterprises sustainability is still in question. This study proposes and examines the human capital role from informal knowledge sharing perspective. By conducting qualitative approach through interviews to four informants in Indonesian medium-sized food manufacturing enterprises, a set of hypotheses is derived from this study for future quantitative study. This study indicates that human capital traits (diverse education background, employee skills, and employee experience) could leverage the practice of informal knowledge sharing. Constructs such as mutual trust and reciprocal intention could play as mediating variables, and cultural interpretation perspective could act as moderating factor to informal knowledge sharing effectiveness. In final, informal knowledge sharing is indicated to play as moderating variable for human capital policy and practice to support enterprise sustainability.

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...

International orientation and export commitment in fast small and medium size firms internationalization: scales validation and implications for the Brazilian case

Directory of Open Access Journals (Sweden)

Marcelo André Machado

Full Text Available Abstract A set of changes in the competitive environment has recently provoked the emergence of a new kind of organization that has since its creation a meaningful share of its revenue being originated from international activities developed in more than one continent. Within this new reality, the internationalization of the firm in phases or according to its growth has resulted in it losing its capacity to explain this process with regard to small- and medium-sized enterprises (SME. Thus, in this paper, the international orientation (IO and export commitment (EC constructs have been revised under a theoretical context of the fast internationalization of medium-sized companies, so as to identify scales that more accurately measure these dimensions in the Brazilian setting. After a literature review and an exploratory research, the IO and EC scales proposed by Knight and Cavusgil (2004 and Shamsuddoha and Ali (2006 were respectively applied to a sample of 398 small- and medium-sized exporting Brazilian companies. In spite of conjunction and situation differences inherent to the Brazilian companies, the selected scales presented high measuring reliability. Furthermore, the field research outcomes provide evidence for the existence of a phenomenon of fast internationalization in medium-sized companies in Brazil, as well as support some theoretical assumptions of other empirical investigations carried out with samples from developed countries.

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

NARCIS (Netherlands)

Singh, Prakash J.; Power, Damien

2014-01-01

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

External designers in product design processes of small manufacturing firms

NARCIS (Netherlands)

Berends, Hans; Reymen, Isabelle; Stultiëns, Rutger G L; Peutz, Murk

Small manufacturing firms often fail to reap the benefits of good design practices. This study investigates how the involvement of external designers influences the evolution of product design processes in small manufacturing firms. Qualitative and quantitative process research methods were used to

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

OpenAIRE

Di Sheng; Shuyang Hou

2014-01-01

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

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 ...

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...

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

Science.gov (United States)

Musa, I.; Nyoman Pujawan, I.

2018-04-01

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

Exploring drivers for energy efficiency within small- and medium-sized enterprises: First evidences from Italian manufacturing enterprises

International Nuclear Information System (INIS)

Cagno, Enrico; Trianni, Andrea

2013-01-01

Highlights: ► Allowances, public financing and external pressures as major external drivers. ► Ambitious decision-makers with great entrepreneurial mind as major internal drivers. ► Effect of firm’s size (even within SMEs) on drivers to industrial energy efficiency. ► Preliminary evidences of the effect of firm’s internal and external complexity. ► Preliminary evidences of the effect of firm’s innovation characteristics. - Abstract: Several studies have investigated the barriers to industrial energy efficiency, but few have focused on the most effective means (drivers) to promote the adoption of energy-efficient technologies and practices. In this respect, Small and Medium-sized Enterprises (SMEs) have been completely overlooked despite interesting consequences for their overall energy consumption and their concurrent low levels of adoption of energy-efficiency measures. Starting from insights garnered from the extant literature on the drivers of industrial energy efficiency, this paper presents an empirical investigation of 71 Italian manufacturing SMEs through a multiple case-study approach. The research highlights the importance of allowances or public financing for energy efficiency interventions, as well as the importance of external pressures such as increases in energy prices and the introduction or increasing of fees on both resources consumed and on emissions of pollutants. Moreover, enterprises look favourably upon energy-efficient technologies which are able to provide long-term benefits, evidence of their willingness to adopt seemingly radical solutions when these are able to improve their long-term competitiveness. Other drivers considered as strategic for increasing energy efficiency are the presence within the company of people with great ambition and entrepreneurial mind and the management sensitivity to the issue. This paper also provides a preliminary analysis of how factors such as firm size, sector, supply chain complexity, and

Wage policy of medium and large Portuguese firms

OpenAIRE

Suleman, F.; Lagoa, S.; Suleman, A.; Pereira, M. L.

2013-01-01

The research on wage policies has been triggered by the interest in identifying whether labour market or institutional forces shape wage settings inside firms. This article draws on linked employer-employee data and uses a fuzzy c-means clustering analysis to identify the typical wage policies of medium and large firms in Portugal. Empirical evidence suggests firms are segmented into four clusters that can be labelled according to wage rules as regulated, asymmetric, hierarchical and discreti...

Managing IT infrastructure standardisation in the networked manufacturing firm

NARCIS (Netherlands)

Akkermans, H.A.; Horst, van der H.

2002-01-01

This paper discusses managerial aspects of information technology (IT) infrastructure standardisation in networked manufacturing firms. It shows that in these firms, where local initiative is very important and strict central hierarchical control is lacking, standardisation of IT infrastructure is

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

OpenAIRE

[multiple or corporate authorship].

2006-01-01

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

Business competitiveness in the small and medium-sized enterprises of the manufacturing sector in Baja California

Directory of Open Access Journals (Sweden)

Manuel Alejandro Ibarra Cisneros

2017-01-01

Full Text Available The objective of this research is to determine the competitiveness level of the manufacturing small and medium-sized enterprises (SMEs of Baja California and to identify which areas within them affect this competitiveness. The methodology used is descriptive, correlational, and cross-sectional; the systemic competitiveness model is developed at the micro level, and a measurement instrument with 64 questions is used on 195 companies in the state; in addition, traditional multiple linear regressions are performed to test the hypotheses. One of the findings is that the SMEs in the state have a medium-low competitiveness level and do not show any relationship between the size of the companies and their competitiveness; however, the production-operations area prove to be more important for their competitiveness level. Although the measurement instrument that is used has no proportionality at the municipality and subsector level, it does allow us to approach the internal operation of the SMEs.

Examples from P2 and energy assessments at small to medium size manufacturers

International Nuclear Information System (INIS)

Fleischman, M.; Watters, J.C.; Cobourn, W.G.; Collins, D.J.

1996-01-01

Using engineering student-faculty teams, the U.S. Department of energy sponsored industrial assessment center (IAC) at the university of louisville does free pollution prevention and energy assessments at small to medium size manufacturers (SIC 20-39) in kentucky and indiana. Each client plant must meet three of the following four criteria: Annual energy bills less than $1, 750, 000 and more than $50, 00. Gross annual sales of less than $75 million. Less than 500 employees. Lack a dedicated energy/waste engineer. Lack of in-house staff to perform these analyses. The program criteria and assessment procedures are briefly described and summaries of assessment at a sheet fed offset (lithographic) printing plant and 2 denim jeans pre washing plants are presented. 4 figs., 8 tabs

INFLUENCE OF FIRM SIZE ON ITS BUSINESS SUCCESS

Directory of Open Access Journals (Sweden)

Maja Pervan

2012-12-01

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

75 FR 9431 - Small and Medium-Sized Enterprises: U.S. and EU Export Activities, and Barriers and Opportunities...

Science.gov (United States)

2010-03-02

... to the USTR on the first investigation, No. 332-508, Small and Medium-Sized Enterprises: Overview of..., investigation No. 332-509, Small and Medium-Sized Enterprises: U.S. and EU Export Activities, and Barriers and Opportunities Experienced by U.S. Firms, and investigation No. 332- 510, Small and Medium-Sized Enterprises...

A Comparison of the Financial Characteristics of European and Asian Manufacturing Firms

Directory of Open Access Journals (Sweden)

Meric Gulser

2017-12-01

Full Text Available Comparing the financial characteristics of firms in different countries has been a popular research topic in finance. However, general financial characteristics of European and Asian manufacturing firms have never been compared. In this paper, we undertake such a study with the MANOVA (Multivariate Analysis of Variance technique. Our research uses all European and Asian manufacturing firms included in the Research Insight/Global Vintage database at the end of 2015. Our findings may provide valuable insights for financial managers and global investors. We find that Asian firms tend to have less liquidity risk but more bankruptcy risk compared with European firms. European firms have more efficient accounts receivable management and higher fixed and total assets turnover rates. However, Asian firms have higher inventory turnover and sales growth rates. Return on equity is not significantly different in European and Asian firms. However, Asian firms have significantly higher net profit margin and return on assets compared with European firms.

Innovative Production Scheduling with Customer Satisfaction Based Measurement for the Sustainability of Manufacturing Firms

Directory of Open Access Journals (Sweden)

Sang-Oh Shim

2017-12-01

Full Text Available Scheduling problems for the sustainability of manufacturing firms in the era of the fourth industrial revolution is addressed in this research. In terms of open innovation, innovative production scheduling can be defined as scheduling using big data, cyber-physical systems, internet of things, cloud computing, mobile network, and so on. In this environment, one of the most important things is to develop an innovative scheduling algorithm for the sustainability of manufacturing firms. In this research, a flexible flowshop scheduling problem is considered with the properties of sequence-dependent setup and different process plans for jobs. In a flexible flowshop, there are serial workstations with multiple pieces of equipment that are able to process multiple lots simultaneously. Since the scheduling in this workshop is known to be extremely difficult, it is important to devise an efficient and effective scheduling algorithm. In this research, a heuristic algorithm is proposed based on a few dispatching rules and economic lot size model with the objective of minimizing total tardiness of orders. For the purposes of performance evaluation, a simulation study is conducted on randomly generated problem instances. The results imply that our proposed method outperforms the existing ones, and greatly enhances the sustainability of manufacturing firms.

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

NARCIS (Netherlands)

M.W. Roza-van Vuren (Marja)

2011-01-01

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

An Analysis of the Operational Environments of Manufacturing Firms ...

African Journals Online (AJOL)

Our efforts in this research have been geared towards analyzing the operational environments of manufacturing firms in Aba, South-East, Nigeria. Specifically, the case study was Manufacturers Association of Nigeria (MAN), Abia chapter. Eight five percent of MAN‟s membership was studied. Percentages and test of ...

Changes of firm size distribution: The case of Korea

Science.gov (United States)

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

2011-01-01

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

Collaborative Manufacturing for Small-Medium Enterprises

Science.gov (United States)

Irianto, D.

2016-02-01

Manufacturing systems involve decisions concerning production processes, capacity, planning, and control. In a MTO manufacturing systems, strategic decisions concerning fulfilment of customer requirement, manufacturing cost, and due date of delivery are the most important. In order to accelerate the decision making process, research on decision making structure when receiving order and sequencing activities under limited capacity is required. An effective decision making process is typically required by small-medium components and tools maker as supporting industries to large industries. On one side, metal small-medium enterprises are expected to produce parts, components or tools (i.e. jigs, fixture, mold, and dies) with high precision, low cost, and exact delivery time. On the other side, a metal small- medium enterprise may have weak bargaining position due to aspects such as low production capacity, limited budget for material procurement, and limited high precision machine and equipment. Instead of receiving order exclusively, a small-medium enterprise can collaborate with other small-medium enterprise in order to fulfill requirements high quality, low manufacturing cost, and just in time delivery. Small-medium enterprises can share their best capabilities to form effective supporting industries. Independent body such as community service at university can take a role as a collaboration manager. The Laboratory of Production Systems at Bandung Institute of Technology has implemented shared manufacturing systems for small-medium enterprise collaboration.

Free Trade Agreements and Firm-Product Markups in Chilean Manufacturing

DEFF Research Database (Denmark)

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

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

SOME IMPORTANT FACTORS AFFECTING EVOLUTION OF ACTIVITY BASED COSTING (ABC SYSTEM IN EGYPTIAN MANUFACTURING FIRMS

Directory of Open Access Journals (Sweden)

Karim MAMDOUH ABBAS

2014-04-01

Full Text Available The present investigation aims to determine the factors affecting evolution of Activity Based Costing (ABC system in Egyptian case. The study used the survey method to describe and analyze these factors in some Egyptian firms. The population of the study is Egyptian manufacturing firms. Accordingly, the number of received questionnaires was 392 (23 Egyptian manufacturing firms in the first half of 2013. Finally, the study stated some influencing factors for evolution this system (ABC in Egyptian manufacturing firms.

Service Orientation in Manufacturing Firms : Understanding Challenges with Service Business Logic

OpenAIRE

Löfberg, Nina

2014-01-01

Globalisation and competition from low-cost countries has pushed manufacturing firms towards offering services to remain competitive. However, increasing the service orientation of a manufacturing firm to find new ways of value (co-)creation has presented several challenges, such as the fact that services do not provide the expected revenues, and resistance from both the sales force and from customers towards services. The aim of this thesis is to understand challenges linked to increasing se...

Analysis of Preference of Incentives to Innovation of Dominican Manufacturing and Service Firms

Directory of Open Access Journals (Sweden)

Victor Gómez-Valenzuela

2015-07-01

Full Text Available In this paper is analyzed  the structure of preference of incentives to innovation of Dominican manufacturing and services firms.  The analysis of preference was  carried out using a Conjoint Analysis. In  total  326 firms were surveyed across the country.   According to the main findings,   Dominican firms prefer combinations of incentives to minimize tax liabilities but also to reduce uncertainty related to innovation activities.   In terms of preference, no statistically significant differences between manufacturing and service firms were found.

The Roles of Size and Size Difference in Australian and Chinese Inter-firm Collaborations

Directory of Open Access Journals (Sweden)

Yu Zhang

Full Text Available There has been considerable debate on the contribution and significance of firm size to the establishment, operation and success of business collaboration. One important source of this debate arises from differing definitions of firm size used in previous research. This paper uses firm size categories and size differences between collaborating firms to examine their contribution to the formation and performance of inter-firmcollaboration in Australia and China. Both qualitative case study and quantitative data analyses are adopted in this paper. Results from both the qualitative case study and quantitative study in Australia and China show that size plays a significant positive role in the formation and performance of business collaboration. Firmsprefer collaborating with larger partners. Bigger firms are more likely to achieve success collaborations. However, size difference plays a negative role in business collaboration. Collaborating with a bigger partner makes it harder to succeed. On the other hand, size and size difference play very different roles in performanceand outcomes of business collaboration in different countries.This paper compares the roles of firm size and size difference in Australian and Chinese inter-firm collaboration. The results provide important strategic implications for business managers, industry regulators, and policy decision makers regarding international business collaboration.

Which Way for the Kenyan Manufacturing Firms?

African Journals Online (AJOL)

User

2011-07-21

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

Environmental Compliance by Firms in the Manufacturing Sector in Mexico

OpenAIRE

Lata Gangadharan

2003-01-01

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

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.

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.

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

Directory of Open Access Journals (Sweden)

Mette Talseth Solnørdal

2018-02-01

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

VIABILITY OF SOME APPLIED COST SYSTEMS IN MANUFACTURING FIRMS: EGYPT'S CASE

Directory of Open Access Journals (Sweden)

Karim Mamdouh ABBAS

2015-04-01

Full Text Available The present study aims to analyze viability of some applied cost systems. The population of the study is some Egyptian manufacturing firms. The number of received questionnaires was 385. The results indicated that , according to the application extent indicator, the currently cost systems in Egyptian manufacturing firms may be descendingly arranged as follows: Activity Based Costing (ABC system, Target Costing (TC system , Resource Consumption Accounting (RCA system, Activity Based Management (ABM ,Other systems, Theory of Constraints (TOC and Value Chain (VC analysis.

The role of independent intermediaries. The case of small and medium-sized exporters

DEFF Research Database (Denmark)

Madsen, Tage Koed; Moen, Øystein; Hammervold, Randi

2012-01-01

and participation rather than just discrete types of intermediary modes (agents, importers, dealers, etc.). Associations with performance as well as the role of product and distributor characteristics are analyzed. Empirical data based on a sample of product-market ventures in 227 small and medium-sized Norwegian...... export firms are analysed by a structural equation modelling approach. The article provides empirical evidence that managers keep control of decision making to an extent that may have a negative impact on export performance. The empirical study indicates that firms should participate more in task......The article examines how small and medium-sized exporters collaborate with intermediaries in foreign markets by studying the level of control, i.e. the delegation of decisions rights and task solution. It goes one step further than previous research, since it examines degrees of control...

HOW DO DIFFERENT COORDINATION MECHANISMS BETWEEN NEW PRODUCT DEVELOPMENT AND MANUFACTURING INFLUENCE FIRM PERFORMANCE?

DEFF Research Database (Denmark)

Timenes Laugen, Bjørge; Acur, Nuran; Boer, Harry

In the literature several suggestions have been put forward for tools, methods and mechanisms to coordinate new product development (NPD) and manufacturing. However, evidence of the operational performance effects of many of these approaches is at best limited. Furthermore, there is a lack...... of understanding of how various coordination mechanisms work in different contexts. Using a survey consisting of data from 677 manufacturing firms from 19 countries worldwide, we test how coordination mechanisms relate to operational performance, and how context moderates these relationships or affects performance...... between standardization and organization design, respectively, and performance are positively moderated by company size. Furthermore, innovativeness moderates the relationship between organization design and performance positively. For managers, our findings indicate that NPD-manufacturing coordination...

Steering manufacturing firms towards service business model innovation

NARCIS (Netherlands)

Kastalli, I.V.; van Looy, Bart; Neely, A.

2013-01-01

Increasingly, manufacturing firms are turning to services as a new way of creating and capturing value. Despite its potential benefits, many new product-service providers struggle to deploy service activities effectively, not least because they fail to reflect the presence of service activities in

EMPLOYEE INVOLVEMENT IN DECISION MAKING AND FIRMS PERFORMANCE IN THE MANUFACTURING SECTOR IN NIGERIA

Directory of Open Access Journals (Sweden)

Abdul-Hameed Adeola Sulaimon

2011-03-01

Full Text Available This study examines the relationship between employee involvement in decision making andfirms’ performance in the manufacturing sector in Nigeria. Data were generated by means ofquestionnaires to 670 manufacturing firms on employee involvement in decision making andperformance variables. Responses from the survey were statistically analysed using descriptivestatistics, product moment correlation, regression analysis and Z-test (approximated with theindependent samples t-test. The results of the study indicate a statistically significant relationshipbetween employee involvement in decision making and firms’ performance as well as reveal asignificant difference between the performance of firms whose employee involvement in decisionmaking are deep and the performance of firms whose employee involvement in decision making areshallow. The findings also reveal the involvement of participating firms in employee involvement indecision making. The implications of this study include the need for manufacturing firms todemonstrate high level of commitment to employee involvement in decision making for performanceenhancement.

Barriers, drivers and decision-making process for industrial energy efficiency: A broad study among manufacturing small and medium-sized enterprises

International Nuclear Information System (INIS)

Trianni, Andrea; Cagno, Enrico; Farné, Stefano

2016-01-01

Highlights: • Barriers and drivers vary along the decision-making process of EEM adoption. • Economic barriers, awareness and behavioural are most critical. • Beside economic drivers, major relevance of regulatory and vocational training. • Importance of stakeholders providing technical support. • Barriers and drivers are different according to several firm characteristics. - Abstract: Energy efficiency has been recognized as a primary means to increase the competitiveness of the industrial sector, and in particular for small and medium-sized enterprises (SMEs), in which energy efficiency measures (EEMs) are scarcely implemented. For this reason, future policies should carefully address such issue. Hence, it is really crucial to have a precise and punctual knowledge of the barriers to be tackled in the decision-making process of adopting an EEM and the drivers to be promoted. This study discussed the findings from a broad investigation within 222 manufacturing SMEs located in a Northern Italy region. Beside economic issues particularly affecting SMEs, awareness and behavioural issues emerge as critical, affecting the very first steps of the decision-making process, related to the punctual identification and evaluation of plausible EEMs. The support from manufacturers, technology suppliers, installers and ESCOs supporting SMEs through vocational training drivers (e.g. technical support) is really important to tackle such issues. More generally, beside financial institutions, the supply chain of technologies is recognized as particularly useful for supporting enterprises in the adoption of EEMs. Additionally, having previously conducted energy audit and implemented EEMs are critical factors able to highlight non-economic barriers and drivers. Therefore, the promotion of EEMs will necessarily imply a further effort in pointing out the so-called non-energy benefits (NEBs) from the implementation of EEMs. Finally, our study reveals that smaller and non

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

NARCIS (Netherlands)

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

2012-01-01

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

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

Directory of Open Access Journals (Sweden)

Tomasz Brodzicki

2017-03-01

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

Impact of Company Size on Manufacturing Improvement Practices: An empirical study

International Nuclear Information System (INIS)

Syan, C S; Ramoutar, K

2014-01-01

There is a constant search for ways to achieve a competitive advantage through new manufacturing techniques. Best performing manufacturing companies tend to use world-class manufacturing (WCM) practices. Although the last few years have witnessed phenomenal growth in the use of WCM techniques, their effectiveness is not well understood specifically in the context of less developed countries. This paper presents an empirical study to investigate the impact of company size on improving manufacturing performance in manufacturing organizations based in Trinidad and Tobago (T and T). Empirical data were collected via a questionnaire survey which was send to 218 manufacturing firms in T and T. Five different company sizes and seven different industry sectors were studied. The analysis of survey data was performed with the aid of Statistical Package for Social Sciences (SPSS) software. The study signified facilitating and impeding factors towards improving manufacturing performance. Their relative impact/importance is dependent on varying company size and industry sectors. Findings indicate that T and T manufacturers are still practicing traditional approaches, when compared with world class manufacturers. In the majority of organizations, these practices were not 100% implemented even though they started the implementation process more than 5 years ago. The findings provided some insights in formulating more optimal operational strategies, and later develop action plans towards more effective implementation of WCM in T and T manufacturers

Impact of Company Size on Manufacturing Improvement Practices: An empirical study

Science.gov (United States)

Syan, C. S.; Ramoutar, K.

2014-07-01

There is a constant search for ways to achieve a competitive advantage through new manufacturing techniques. Best performing manufacturing companies tend to use world-class manufacturing (WCM) practices. Although the last few years have witnessed phenomenal growth in the use of WCM techniques, their effectiveness is not well understood specifically in the context of less developed countries. This paper presents an empirical study to investigate the impact of company size on improving manufacturing performance in manufacturing organizations based in Trinidad and Tobago (T&T). Empirical data were collected via a questionnaire survey which was send to 218 manufacturing firms in T&T. Five different company sizes and seven different industry sectors were studied. The analysis of survey data was performed with the aid of Statistical Package for Social Sciences (SPSS) software. The study signified facilitating and impeding factors towards improving manufacturing performance. Their relative impact/importance is dependent on varying company size and industry sectors. Findings indicate that T&T manufacturers are still practicing traditional approaches, when compared with world class manufacturers. In the majority of organizations, these practices were not 100% implemented even though they started the implementation process more than 5 years ago. The findings provided some insights in formulating more optimal operational strategies, and later develop action plans towards more effective implementation of WCM in T&T manufacturers.

Recent developments in the Dutch firm-size distribution

NARCIS (Netherlands)

M.A. Carree (Martin); A.R. Thurik (Roy)

1991-01-01

textabstractThis study investigates the development of the firm-size distribution in the Netherlands using various measures. Data are used for the period 1978 through 1989 covering practically the entire Dutch private sector. The results show a general tendency towards smaller firm sizes in

Box-Cox transformation of firm size data in statistical analysis

Science.gov (United States)

Chen, Ting Ting; Takaishi, Tetsuya

2014-03-01

Firm size data usually do not show the normality that is often assumed in statistical analysis such as regression analysis. In this study we focus on two firm size data: the number of employees and sale. Those data deviate considerably from a normal distribution. To improve the normality of those data we transform them by the Box-Cox transformation with appropriate parameters. The Box-Cox transformation parameters are determined so that the transformed data best show the kurtosis of a normal distribution. It is found that the two firm size data transformed by the Box-Cox transformation show strong linearity. This indicates that the number of employees and sale have the similar property as a firm size indicator. The Box-Cox parameters obtained for the firm size data are found to be very close to zero. In this case the Box-Cox transformations are approximately a log-transformation. This suggests that the firm size data we used are approximately log-normal distributions.

Box-Cox transformation of firm size data in statistical analysis

International Nuclear Information System (INIS)

Chen, Ting Ting; Takaishi, Tetsuya

2014-01-01

Firm size data usually do not show the normality that is often assumed in statistical analysis such as regression analysis. In this study we focus on two firm size data: the number of employees and sale. Those data deviate considerably from a normal distribution. To improve the normality of those data we transform them by the Box-Cox transformation with appropriate parameters. The Box-Cox transformation parameters are determined so that the transformed data best show the kurtosis of a normal distribution. It is found that the two firm size data transformed by the Box-Cox transformation show strong linearity. This indicates that the number of employees and sale have the similar property as a firm size indicator. The Box-Cox parameters obtained for the firm size data are found to be very close to zero. In this case the Box-Cox transformations are approximately a log-transformation. This suggests that the firm size data we used are approximately log-normal distributions

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

OpenAIRE

Du, Jun; Girma, Sourafel

2009-01-01

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

Improving performance through vertical disintegration: Evidence from UK manufacturing firms

OpenAIRE

Desyllas, Panos

2009-01-01

Unlike previous work on the vertical integration-performance relationship, we investigate the performance consequences of vertical disintegration. We offer a theoretical justification for the disintegration decision and we condition the disintegration effect on performance on the initial degree of firm integration, the timing and the direction of disintegration. Using a sample of UK manufacturing firms and controlling for disintegration endogeneity, we find that disintegration eventually resu...

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 ...

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

75 FR 33766 - Manufacturing Extension Partnership (MEP) Availability of Funds for Projects To Develop Client...

Science.gov (United States)

2010-06-15

... Strategic Growth Areas are: supply chain, sustainability, technology acceleration, workforce and continuous... strengthen the global competitiveness of small- and medium-sized U.S. based manufacturing firms. NIST MEP... Agreements Management Division; National Institute of Standards and Technology; 100 Bureau Drive, Stop 1650...

Evolutionary model of the growth and size of firms

Science.gov (United States)

Kaldasch, Joachim

2012-07-01

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

Does Size Matter? The Implications of Firm Size on Enterprise Systems Success

Directory of Open Access Journals (Sweden)

Darshana Sedera

2016-04-01

Full Text Available With the increasing emphasis on globalization and consumer demands in highly competitive markets, organizations have attempted to integrate and standardize across their corporate subsidiaries by implementing Enterprise Systems (ES. In such corporate-wide ES implementations, system requirements are dictated by headquarters, favouring large subsidiaries, and thus potentially compromising the unique business requirements of smaller units. This research reports findings from an ES initiative within a group of large, medium, and small organizations, where the impact of organization size is assessed in relation to the level of system success and knowledge-management competence. The results of this analysis suggest that (i large organizations, in contrast to their smaller counterparts, receive greater benefits in terms of both Individual and Organizational Impacts, (ii while no such differences were observed in relation to System and Information Quality. Similarly, (iii no differences were observed in relation to knowledge-creation competencies amongst large, medium, and small organizations. However, (iv differences were observed between the large and smaller firms on their Knowledge-Retention and Knowledge-Transfer competencies. 

Firm expansion, size spillovers and market dominance in retail chain dynamics

OpenAIRE

Blevins, JR; Khwaja, Ahmed Wali; Yang, N

2017-01-01

We develop and estimate a dynamic game of strategic firm expansion and contraction decisions to study the role of firm size on future profitability and market dominance. Modeling firm size is important because retail chain dynamics are more richly driven by expansion and contraction than de novo entry or permanent exit. Additionally, anticipated size spillovers may influence the strategies of forward looking firms making it difficult to analyze the effects of size without explicitly accountin...

SUSTAINABILITY REPORTING QUALITY OF INDIAN AND AMERICAN MANUFACTURING FIRMS: A COMPARATIVE ANALYSIS

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Diganta Munshi

2016-11-01

Full Text Available The content analysis method has been adopted to study the pattern of reporting on sustainability indicators by 10 American and 10 Indian manufacturing firms in their sustainability reports prepared as per the GRI framework and published during 2011-2013. Scores of 2, 1 and 0 have been respectively assigned for full, partial and non disclosure of sub clauses of economic, environmentand social indicators to compute a SDI (sustainability disclosure index. Independent t test found a significant difference in the quality of sustainability disclosure of the sampled American and Indian manufacturing firms during 2011-13. The improvement/ deterioration in the quality of disclosure over the period were correlated with changes in performance parameters like EPS and ROA to examine if betterment in quality of sustainability reporting translates into financial performance of the firms. Multiple regression analysis was performed to determine the variables which explain the variation in the sustainability reporting quality of firms.

SOME IMPORTANT FACTORS AFFECTING EVOLUTION OF ACTIVITY BASED COSTING (ABC) SYSTEM IN EGYPTIAN MANUFACTURING FIRMS

OpenAIRE

Karim MAMDOUH ABBAS

2014-01-01

The present investigation aims to determine the factors affecting evolution of Activity Based Costing (ABC) system in Egyptian case. The study used the survey method to describe and analyze these factors in some Egyptian firms. The population of the study is Egyptian manufacturing firms. Accordingly, the number of received questionnaires was 392 (23 Egyptian manufacturing firms) in the first half of 2013. Finally, the study stated some influencing factors for evolution this system (ABC) in Eg...

Gender differences on the job satisfaction in the phase of implementing advanced manufacturing technology in the Chinese manufacturing firms.

Science.gov (United States)

Yu, Na; Shen, Li Ming; Lewark, Siegfried

2012-01-01

This research gave an effort to study on gender differences in the job satisfaction for technological innovation at Chinese manufacturing firm. The exploratory study was conducted in four Chinese furniture manufacturing firms, which are all in the phases of introducing advanced manufacturing system. The results of statistical analysis show that general satisfaction of female employees to their jobs is significantly higher than male employees. In addition, supervisory satisfaction of female employees is significantly higher than male employees. The findings of the study reveal that activities are suggested to be carried out to increase the job satisfaction of male employees, especially improve communication and relationship between the managerial and the non-managerial levels in the innovation process. In addition, the higher job satisfaction of female employees could be considered a positive factor for the successful implementation of AMT in the technological innovation, although male employees are still dominated work force in the case study firms.

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...

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...

Firm Traits and Web Based Disclosures in Top Nigerian Firms

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Bello Ayuba

2016-02-01

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

WTO Accession, Foreign Bank Entry, and the Productivity of Chinese Manufacturing Firms

DEFF Research Database (Denmark)

Lai, Tat-kei; Qian, Zhenjie; Wang, Luhang

2016-01-01

After China’s accession to the World Trade Organization (WTO) in December 2001, foreign banks are allowed to enter the Chinese banking market in phases. Using firm-level data from the National Bureau of Statistics of China which cover all state-owned and non state-owned manufacturing firms...... with sales over 5 million RMB, we examine the relationship between foreign bank entry and the industry-level productivity growth of China’s manufacturing sector. Our empirical results suggest that (a) on average, opening up a region for foreign bank entry has no impact on aggregate productivity growth, (b...

Transportation Accessibility and Location Choice of Japanese-Funded Electronic Information Manufacturing Firms in Shanghai

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Haining Jiang

2018-02-01

Full Text Available With the rapid development of globalization, information communication and transportation, it is argued that the effect of transportation accessibility in the location choice of manufacturing firms has diminished. However, comprehensive and systematic research on the impact of transportation accessibility on firm location choice in cities remains scarce. Taking Shanghai as the research area, this paper uses a catalog of Japanese-funded electronic information manufacturing firms to explore the influence of transportation accessibility on their location choice. The paper first describes firm distribution using the nuclear density estimation method. The Poisson regression model is then used to estimate the significance of transportation accessibility in influencing firm location. The empirical results show that most of the firms are concentrated in the inner suburbs of Shanghai, with only a small number in the outer suburban areas. The spatial coupling relationship between firm distribution and transportation accessibility is significant. These firms tend to choose areas with good accessibility to transportation infrastructure, and, in particular, the effect of airport accessibility is significant. Compared with the joint venture enterprises, wholly-owned Japanese enterprises are more inclined to be in areas with better transportation accessibility.

Shaking up the Firm Survival: Evidence from Yogyakarta (Indonesia

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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.

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

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Chun Fu

2015-05-01

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

The Current State of Sensing, Health Management, and Control for Small-To-Medium-Sized Manufacturers.

Science.gov (United States)

Helu, Moneer; Weiss, Brian

2016-01-01

The development of digital technologies for manufacturing has been challenged by the difficulty of navigating the breadth of new technologies available to industry. This difficulty is compounded by technologies developed without a good understanding of the capabilities and limitations of the manufacturing environment, especially within small-to-medium enterprises (SMEs). This paper describes industrial case studies conducted to identify the needs, priorities, and constraints of manufacturing SMEs in the areas of performance measurement, condition monitoring, diagnosis, and prognosis. These case studies focused on contract and original equipment manufacturers with less than 500 employees from several industrial sectors. Solution and equipment providers and National Institute of Standards and Technology (NIST) Hollings Manufacturing Extension Partnership (MEP) centers were also included. Each case study involved discussions with key shop-floor personnel as well as site visits with some participants. The case studies highlight SME's strong need for access to appropriate data to better understand and plan manufacturing operations. They also help define industrially-relevant use cases in several areas of manufacturing operations, including scheduling support, maintenance planning, resource budgeting, and workforce augmentation.

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

NARCIS (Netherlands)

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

2013-01-01

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

THE STRATEGIC RELEVANCE OF TECHNOLOGY-RELATED VARIABLES TO THE COMPETITIVENESS OF SMALL - TO MEDIUM-SIZED FURNITURE MANUFACTURERS

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Lourens, A. S.

2012-11-01

Full Text Available SMMEs can make a critical and positive economic contribution to South Africa, and small- to medium-sized furniture manufacturers (SM/FMs have the potential to contribute to economic growth, job creation, and GDP. However, the furniture industry has not stayed abreast of technological advances. To survive in an environment of increasing competition and imports, competitive strategies must be devised. One such strategy is for technology adoption and implementation that can provide solutions for the furniture industry to improve speed, quality, variety, flexibility, and productivity, resulting in improved competitiveness. However, the adoption of technology means that its acquisition and application must be managed strategically, as the use of technology involves far more than simply taking it into account during the business-plan

The International Location Decision: A Study of Manufacturing Firms

DEFF Research Database (Denmark)

Touray, Ebou; Schmidt, Andreas; Herbert-Hansen, Zaza Nadja Lee

2018-01-01

The aim of this paper is to build a broader understanding of the international location decision (ILD) of manufacturing by investigating and mapping Danish manufacturing firms’ related activities and underlying processes. Using an exploratory survey ap-proach on 17 Danish firms, the study shows...... there is less emphasis on cost than in past studies and a large unstructured human influence. A framework containing six catego-ries of ILD factors—cost, labor and social characteristics, infrastructure, politics and regulations, economics, and markets and resources—and an assessment of their respec-tive single...

Obstacles to Implementing Initiatives of Social Responsibility in Small and Medium-Size Firms Įmonių socialinė atsakomybė ir jos iniciatyvų diegimo kliūtys smulkiojo ir vidutinio verslo įmonėse

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Rima Česynienė

2011-02-01

Full Text Available

size: 8pt;">The purpose of the paper is to analyse the obstacles to implementing social responsibility initiatives in small and medium-size business firms. The implementing fields and the importance of corporate social responsibility (CSR initiatives in small and medium-size business firms are stressed in the paper. The current situation of CSR in Lithuanian small and medium-size firms is presented. The research data allowed discovering that the main obstacle to implement social responsibility in the small and medium-size firms is the managers’ attitude that social responsibility is a matter of great concern only to large companies. 43% of respondents indicated this obstacle. On the other hand, the research data allowed finding out that in our turbulent environment social responsibility in small and medium-size business firms is not a random phenomenon (71 %, and it is constant concern to managers, which provides for the budget (54 %. The understanding that social responsibility initiatives are only charity or philanthropy is also declined, only 5% of the respondents think so, however, 32 % of firms are supporting charitable initiatives. The most stimulating factors in the implementation of CSR are: staff loyalty and job satisfaction, a better image of the company, long-term competitiveness of the business advantage, the increased consumers requirements. Socially responsible behaviour disincentives are: the lack of human resour-ces (51 %, lack of information about gain from socially responsible activities (50 %, lack of financial resources (28 %. Both theory and practice agree that the implementation of CSR issues is most dependent on the leader’s attitude. The managers of small and medium-size business firms mostly are coordinating the implementation of CSR initiatives (70% of respondents. The results of the empirical

Statistical Analyses and Modeling of the Implementation of Agile Manufacturing Tactics in Industrial Firms

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Mohammad D. AL-Tahat

2012-01-01

Full Text Available This paper provides a review and introduction on agile manufacturing. Tactics of agile manufacturing are mapped into different production areas (eight-construct latent: manufacturing equipment and technology, processes technology and know-how, quality and productivity improvement, production planning and control, shop floor management, product design and development, supplier relationship management, and customer relationship management. The implementation level of agile manufacturing tactics is investigated in each area. A structural equation model is proposed. Hypotheses are formulated. Feedback from 456 firms is collected using five-point-Likert-scale questionnaire. Statistical analysis is carried out using IBM SPSS and AMOS. Multicollinearity, content validity, consistency, construct validity, ANOVA analysis, and relationships between agile components are tested. The results of this study prove that the agile manufacturing tactics have positive effect on the overall agility level. This conclusion can be used by manufacturing firms to manage challenges when trying to be agile.

Manufacturing strategies of Turkish firms: an empirical study on business environmental factors and competitive priorities

OpenAIRE

Ataseven, Çiğdem

2006-01-01

Cataloged from PDF version of article. There have been several studies that aim at exploring the relationships between business environment and strategy choices of firms in the literature. Cross country comparisons are provided when available to understand the differences between the manufacturing practices of the firms operating in different countries. This study analyzes the relationships between business environment, business strategy and manufacturing strategy by using t...

A taxonomy of green supply chain management capability among electronics-related manufacturing firms in Taiwan.

Science.gov (United States)

Shang, Kuo-Chung; Lu, Chin-Shan; Li, Shaorui

2010-05-01

This study investigated crucial green supply chain management (GSCM) capability dimensions and firm performance based on electronics-related manufacturing firms in Taiwan. On the basis of a factor analysis, six green supply chain management dimensions were identified: green manufacturing and packaging, environmental participation, green marketing, green suppliers, green stock, and green eco-design. According to their factor scores in the GSCM dimensions, a cluster analysis subsequently assigned responding firms into four groups, namely, the weak GSCM oriented group, the green marketing oriented group, the green supplier oriented group, and the green stock oriented group. Differences in firm performance and GSCM dimensions among groups were examined. Results indicated that the green marketing oriented group performed best. Based on the resource-based view (RBV), the capability of the green marketing oriented group was considered to be the deployment of a collection of resources that enables it to successfully compete against rivals. The importance of green marketing as a GSCM capability and strategic asset/critical resources for electronics-related manufacturing firms to obtain a competitive edge is therefore highlighted in this study. Copyright 2010 Elsevier Ltd. All rights reserved.

Small is Beautiful? Firm's Size, Prevention & Food Safety.

OpenAIRE

Rouviere, Elodie; Soubeyran, Raphael

2012-01-01

The European General Food Law of 2005 and the newly promulgated FDA Food Safety Modernization Act (FFSMA) of 2010 ask all food operators to implement preventive efforts. In this article, we explore the link between firm’s size and preventive efforts. We show two main results. First, when there is no cross-contamination, small firms will provide higher preventive efforts than large firms. When there is crosscontamination, the effort-size curve may have a "inverted-U" shape. From our results we...

Firm Size and the Information Content of Over-the-Counter Common Stock Offerings

OpenAIRE

Robert M. Hull; George E. Pinches

1995-01-01

We examine the announcement period of stock returns for 179 over-the-counter (OTC) firms that issue common stock to reduce nonconvertible debt. We find that small OTC firms experience returns that are significantly more negative than large OTC firms. Regression tests reveal that firm size is a significant factor in accounting for stock returns. Other tests establish as firm size a dominant effect. Our support for a firm size effect is consistent with a differential information effect given th...

ANALYSIS OF ROMANIAN SMALL AND MEDIUM ENTERPRISES BANKRUPTCY RISK

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Kulcsar Edina

2014-07-01

Full Text Available Considering the fundamental role of small and medium enterprises in Romanian economy, this paper aims to quantify the level of their bankruptcy risk for 2009 and 2012 period, after debuting of financial crisis. The main reason of selecting this type of companies is that they represent the backbone of national economy. They have an indispensable role, because they offer jobs for great part of population and their contribution for GDP stimulation is considerable. In this paper it was applied two default risk models, namely the well known Altman’s Z-score model, based on five financial ratios and a bankruptcy predictor model developed by Teti et. al (2012 used firstly exclusively for Italian small and medium-sized enterprise for 2006-2009 period. The model proposed by Teti et. is based on the investigation of financially distressed and financially non-distressed Italian small and medium-sized enterprises during the financial crisis by using a discriminant analysis model. They conclude that there are four financial ratios, which characterized well the small and medium-sized enterprises bankruptcy risk. These variables are financial ratios, like: Debt/Total Assets, Return on Sales (ROS, EBIT/Interest Expenses and Working capital/EBIDTA. They consider that small and medium-sized enterprises require a particular approach in terms of bankruptcy risk analysis. In present study I try to compare the efficiency of traditional bankruptcy risk model with a small and medium-sized specific model. The necessary database for present analysis is ensured by simplified financial reports of 120 small and medium-sized enterprises registered in Bihor County. The selected enterprises are operating in manufacturing industry (21,67% and trading (78,33%. Present investigation has an important value in actual economic background, where the healthiness and sustainability of small and medium-sized enterprises is a great issue. The results of study shows contradictory

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...

The Relationship Between Training and Employment Growth in Small and Medium-Sized Enterprises

OpenAIRE

Andy Cosh; Alan Hughes; Melvyn Weeks

2000-01-01

This paper provides a rigorous analysis of the impact of training upon the employment growth characteristics of small and medium sized firms. Using appropriate statistical techniques to cope with sample selection biases and heterogenerous employment growth patterns it reveals that training is positively related to employment growth, in particular when it is embedded in a wider range of human relations practices.

Stock Market Efficiency and Size of the Firm: Empirical Evidence from Pakistan

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Ikram ul Haq

2014-03-01

Full Text Available The purpose of this paper is to examine the relationship between firm size and excess stock returns in Pakistani market. We construct a set of 10 portfolios based on size i.e., market capitalization, total assets and sales for the period between 2007 and 2011, and analyze the annual stock returns by using sorting and Fama & Macbeth model. The results of the study indicate a prominent size effect where smaller firm or size portfolios are found to have a greater average annual excess returns than bigger firm or size portfolios during the period under analysis. We find that small firms have significantly greater excess returns than larger firms. The study has strong implications for mutual funds managers, investment analysts as well as small investors who are continuously at a lookout for the trading strategies that beat the market.

Case study of networking in the Danish small and medium sized dairy firms

DEFF Research Database (Denmark)

Rasmussen, Lauge Baungaard

2001-01-01

The networking of small and mediumsized dairy firms in denmark is an effective way to get new information about markets, technology, competitors and prospective possiblities to develop new products.......The networking of small and mediumsized dairy firms in denmark is an effective way to get new information about markets, technology, competitors and prospective possiblities to develop new products....

Business factors related to manufacturing firms' performance

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Stergios Vranakis

2014-01-01

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

Firm Size and Capital Structure Decisions: Evidence From Turkish Lodging Companies

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Erdinc Karadeniz

2011-01-01

Full Text Available Aim of this study is to investigate the role of firm size on capital structure decisions of Turkish lodging companies. In this context, a survey questionnaire is developed and sent to unquoted Turkish lodging companies. 163 lodging companies answered the survey and they are classified according to their sizes. Empirical findings reveal that firm size is a significant factor for capital structure decisions of Turkish lodging companies. Firm size seems to affect lodging companies in using incentives, issuing common stock, using personal debt and determining target debt ratio. Most of the empirical findings seem to support pecking order theory.

Educational Competencies That Mid-Sized CPA Firms Value in Their Professional Accounting Staff

Science.gov (United States)

Margheim, Loren; Hora, Judith A.; Pattison, Diane

2010-01-01

This study examined the educational competencies mid-sized accounting firm partners value in their professional staff when making promotion decisions to senior, manager, and partner. Mid-sized firms were defined in this study to include all of the non-Big 4 national firms, the large regional CPA firms, and several large local firms. Over 1,380…

Why do firms invest in accounts receivable? An empirical investigation of the Malaysian manufacturing sector

OpenAIRE

Paul, S.; Guermat, C.; Devi, S.

2017-01-01

The purpose of this paper is to investigate the factors that influence Malaysian manufacturing sector investment in accounts receivable, an asset seen by many as one of the riskiest in any company’s balance sheet. We test several theories, related to accounts receivable, using a cross-section of 262 listed manufacturing firms over a period of five years (2007-2011). Both fixed and random effect approaches are considered to deal with potential heterogeneity across firms. Our results show that ...

Social security and firm performance

DEFF Research Database (Denmark)

Lee, Sangheon; Torm, Nina

2017-01-01

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

Medium size multinational firms internationalization strategies in China

OpenAIRE

A. Pontiggia; T. Vescovi

2014-01-01

The main theme of the book is the globalisation of China’s markets and Chinese business management in the context of ongoing reform at home and the country’s growing global economic role. The Globalisation of Chinese Business includes contributions relating to a wide range of manufacturing and service sectors, encompassing such areas as foreign investment, state and private enterprise, human resource management, consumer culture and advertising, financial markets and healthcare. Following...

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.

FIRM SIZE EFFECTS ON TRANSACTION COSTS

NARCIS (Netherlands)

NOOTEBOOM, B

1993-01-01

Associated with effects of scale, scope, experience and learning there are effects of firm size on transaction costs; in the stages of contact, contract and control. These effects are due to ''threshold costs'' in setting up contacts, contracts and governance schemes, and to differences with respect

Lean Manufacturing - A Powerfull Tool for Reducing Waste During the Processes

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Mihai Apreutesei

2010-01-01

Full Text Available Lean manufacturing provides a new management approach for many small and medium size manufacturers, especially older firms organized and managed under traditional push systems. Improvement results can be dramatic in terms of quality, cycle times, and customer responsiveness. Lean manufacturing is more than a set of tools and techniques and has been widely adopted by many production companies. Lean manufacturing is a culture in which all employees continuously look for ways to improve processes. In the present article are presented the Lean Manufacturing tools, like kaizen, Kanban, poka-yoke witch a company can use to reduce the waste(muda during a production process. The paper contains also, the most common seven types of waste from production and some examples from our daily activity.

Process Ambidexterity for Entrepreneurial Firms

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Sonia D. Bot

2012-04-01

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

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

MANUFACTURING AND CONTINUOUS IMPROVEMENT PERFORMANCE LEVEL IN PLANTS OF MEXICO; A COMPARATIVE ANALYSIS AMONG LARGE AND MEDIUM SIZE PLANTS

OpenAIRE

Carlos Monge; Jesús Cruz

2015-01-01

A random and statistically significant sample of 40 medium (12) and large (28) manufacturing plants of Apodaca, Mexico were surveyed using a structured and validated questionnaire to investigate the level of implementation of lean manufacturing, sustainable manufacturing, continuous improvement and operational efficiency and environmental responsibility in them, it is important to mention it was found that performance in the mentioned philosophies, on the two categories of plants is low, howe...

Working capital management : the case of government-owned, transitional, and privatised manufacturing firms in Eritrea

NARCIS (Netherlands)

Tewolde, S.

2002-01-01

In this book we go into the concepts of internal and external working capital management. The research focuses specifically at the government, transition and privatised manufacturing firms in Eritrea. The objective of this research is to study the working capital management practices of these firms

Key Supplier Relationship Management: The Case of Croatian Medium-Sized and Large Manufacturing Companies

Directory of Open Access Journals (Sweden)

Dario Miočević

2011-06-01

Full Text Available The key supplier relationship management represents a vital organizational process. Companies should pay attention not only to managing customer relationships but also to managing relationships with suppliers in order to perform well. They should identify the extent to which a certain supplier adds value through the procurement process. In this line of reasoning, both theory and practice make a distinction between strategic (key and non-strategic (transactional suppliers. By employing the segmentation of the supply market, companies balance their supplier portfolio and are capable of identifying the key suppliers. They can also develop specific programs and initiatives that are aimed at preserving these relationships. In the empirical part of the paper, a survey was conducted on a sample of 123 medium-sized and large Croatian manufacturing companies. The structural model involving the relationship between the key supplier relationship management and value-oriented purchasing was tested. The results indicate that there is a statistically direct, positive and significant relationship between these two constructs. Likewise, the results stress that a theoretical conceptualization and operationalization of the key supplier relationship management construct is both valid and justified. Finally, the theoretical and practical implications and limitations of this study are offered.

At first sight - How is SME purchasing organised? : Discussing research process, the role of customer strategies & personality of owners and purchasing improvement, based on students’ purchasing case studies within four Dutch manufacturing Small and Medium-sized Enterprises

NARCIS (Netherlands)

Staal, Anne; Walhof, Gert

2015-01-01

Paper for the WION - Werkgemeenschap Inkoop Onderzoek Nederland - 2015, 3rd version. Purchasing within Small and Medium-sized Enterprises (SMEs) is important for the overall SME firm performance. However, purchasing within SMEs is not the same as purchasing within larger organisations and there is

New Firm Survival: Industry versus Firm Effects

NARCIS (Netherlands)

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

1997-01-01

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

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.

Small and medium-sized firms top management teams’ decision making in global acquisitions

Directory of Open Access Journals (Sweden)

Timothy Kiessling

2009-07-01

Full Text Available The new global marketplace has caused changes in some organizations’/industries’ forms and execution of strategy and reliance on international personnel. Entry and success through the accumulation of knowledge in the global marketplace have become the impetus for sustainable competitive/developmental advantage for many corporations. Many organizations choose a strategy focusing on international acquisitions in foreign markets to compete effectively in the current ever-changing dynamic competitive landscape. After acquisition, the monitoring of the operations of the new international subsidiary by US firms typically is an ethnocentric example of applying home-country standards and controls. We suggest that the top management team (TMT of a firm is a valuable resource, needs to be retained and that ethnocentric monitoring must be reconsidered. This research focuses on the TMT and their value to the firm to help explain the variation in acquisition success. Thus post-acquisition integration and monitoring must account for this valuable asset.

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...

Pareto Distribution of Firm Size and Knowledge Spillover Process as a Network

OpenAIRE

Tomohiko Konno

2013-01-01

The firm size distribution is considered as Pareto distribution. In the present paper, we show that the Pareto distribution of firm size results from the spillover network model which was introduced in Konno (2010).

Supply Chain adoption in Small and Medium-Sized Enterprises (SMEs)

DEFF Research Database (Denmark)

Juhl, Mathias Thim; Bernon, Mike

Purpose: The importance of having a competitive supply chain strategy is not to be underestimated (Underwood & Agg 2012; Aronow et al. 2014). Despite the importance of creating strong supply chain capabilities, small and medium-sized enterprises (SMEs) find it difficult to implement supply chain...... and customer needs. Research Approach: An exploratory case study of five small and medium sized manufacturing companies was undertaken using in-depth interviews and business reports. Combined with relevant literature, the case study interviews provide basis for a discussion on the current adoption of supply...... needs and a low interaction in the supply chain, to having an “outside-in” perspective (Day & Moorman 2013) and development of capabilities that support long-term competitive advantage. The case studies revealed two significant factors to support consistency between supply chain capabilities...

Trade Adjustments to Exchange Rate Changes by Japanese Manufacturing MNEs: Intra-firm and arm's length transactions

OpenAIRE

ANDO Mitsuyo; KIMURA Fukunari

2013-01-01

This paper examines how Japanese manufacturing multinational enterprises (MNEs) adjust to exchange rate changes. Using the micro-data of Japanese manufacturing MNEs from 1994 to 2010, we find that exports tend to respond to exchange rate changes, in particular when wholly or majority-owned affiliates are dominant among their foreign affiliates and when intra-firm trade ratios are higher. Moreover, the responsiveness to exchange rate changes is higher for intra-firm exports than for total expo...

Corporate governance, audit firm size and restated financial statement in Indonesia stock exchange

Directory of Open Access Journals (Sweden)

Ardiansyah Rasyid

2014-07-01

Full Text Available This research aims to describe the corporations to take restatement in financial statement such as, corporate governance implementation and size of Audit Firm. Corporate Governance and size of Audit Firm are involved in auditing process. Theoretically, those influence the quality of financial statement. The occurrence of restatement of financial reporting is as a proxy for a lower of financial statement quality. Hence, corporate governance and size of Audit Firm should prevent from restated financial statement. The result of this research describe that number of independent commissioner and number of audit committee do not prevent from restated financial statement. In addition, size of Audit Firm is not obvious to increase the quality of financial statement, because there are several of big four audit firms have been appointed by such corporation as external auditor or some of restatements have been done by non-big four. This research describes the composition of independent commissioner, audit committee and also Audit Firms size do not influence directly to restated financial statement.

A Bayesian Approach to International Distributor Selection for Small and Medium-Sized Enterprises in the Software Industry

Science.gov (United States)

Lui, Joseph P.

2013-01-01

Identifying appropriate international distributors for small and medium-sized enterprises (SMEs) in the software industry for overseas markets can determine a firm's future endeavors in international expansion. SMEs lack the complex skills in market research and decision analysis to identify suitable partners to engage in global market entry.…

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...

Motivational factors as determinants of employee commitment and performance enhancement in profit oriented firms: a survey of selected brewery manufacturing companies in Nigeria

Directory of Open Access Journals (Sweden)

Sev Joseph Teryima

2016-07-01

Full Text Available The objective of the study is to investigate the Impact of Motivational Factors such as extrinsic, intrinsic rewards and social motivational on employee commitment and performance enhancement in profit oriented firms with a focus on selected Brewery Manufacturing firms in Nigeria. Data for this research is obtained from both primary and secondary sources. The sample size for the study is 280 from six (6 Brewery firms. Multiple Regression test was used in testing the two (2 formulated hypotheses. The study findings revealed that motivational factors such as Intrinsic, extrinsic and social motivation have a good relationship with employee commitment and performance enhancement in profit oriented firms especially Brewery manufacturing companies. Other findings were that lack of motivational incentives will lead to employee frustration in these companies. The study recommends that adequate and consistent provision of intrinsic, extrinsic and social motivational incentive packages to staff to facilitate employee commitment and high performance attainment is important at all times. The study also recommended that, establishing organizational objectives and goals by companies is a good starting point by management to know the essential motivational incentives that should be granted to employees for productivity attainment.

Firm Size, Ownership, Training Duration and Training Evaluation Practices

Science.gov (United States)

Asadullah, Muhammad Ali; Peretti, Jean Marie; Ali, Arain Ghulam; Bourgain, Marina

2015-01-01

Purpose: The purpose of this paper was to test the mediating role of training duration in relationship between firm characteristics and training evaluation practices. In this paper, the authors also investigated if this mediating effect differs with respect to the size of the firm. Design/methodology/approach: The authors collected data from 260…

The exponential age distribution and the Pareto firm size distribution

OpenAIRE

Coad, Alex

2008-01-01

Recent work drawing on data for large and small firms has shown a Pareto distribution of firm size. We mix a Gibrat-type growth process among incumbents with an exponential distribution of firm’s age, to obtain the empirical Pareto distribution.

Firm Size, a Self-Organized Critical Phenomenon: Evidence from the Dynamical Systems Theory

Science.gov (United States)

Chandra, Akhilesh

This research draws upon a recent innovation in the dynamical systems literature called the theory of self -organized criticality (SOC) (Bak, Tang, and Wiesenfeld 1988) to develop a computational model of a firm's size by relating its internal and the external sub-systems. As a holistic paradigm, the theory of SOC implies that a firm as a composite system of many degrees of freedom naturally evolves to a critical state in which a minor event starts a chain reaction that can affect either a part or the system as a whole. Thus, the global features of a firm cannot be understood by analyzing its individual parts separately. The causal framework builds upon a constant capital resource to support a volume of production at the existing level of efficiency. The critical size is defined as the production level at which the average product of a firm's factors of production attains its maximum value. The non -linearity is inferred by a change in the nature of relations at the border of criticality, between size and the two performance variables, viz., the operating efficiency and the financial efficiency. The effect of breaching the critical size is examined on the stock price reactions. Consistent with the theory of SOC, it is hypothesized that the temporal response of a firm breaching the level of critical size should behave as a flicker noise (1/f) process. The flicker noise is characterized by correlations extended over a wide range of time scales, indicating some sort of cooperative effect among a firm's degrees of freedom. It is further hypothesized that a firm's size evolves to a spatial structure with scale-invariant, self-similar (fractal) properties. The system is said to be self-organized inasmuch as it naturally evolves to the state of criticality without any detailed specifications of the initial conditions. In this respect, the critical state is an attractor of the firm's dynamics. Another set of hypotheses examines the relations between the size and the

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.

Quantification of the evolution of firm size distributions due to mergers and acquisitions

Science.gov (United States)

Sornette, Didier

2017-01-01

The distribution of firm sizes is known to be heavy tailed. In order to account for this stylized fact, previous economic models have focused mainly on growth through investments in a company’s own operations (internal growth). Thereby, the impact of mergers and acquisitions (M&A) on the firm size (external growth) is often not taken into consideration, notwithstanding its potential large impact. In this article, we make a first step into accounting for M&A. Specifically, we describe the effect of mergers and acquisitions on the firm size distribution in terms of an integro-differential equation. This equation is subsequently solved both analytically and numerically for various initial conditions, which allows us to account for different observations of previous empirical studies. In particular, it rationalises shortcomings of past work by quantifying that mergers and acquisitions develop a significant influence on the firm size distribution only over time scales much longer than a few decades. This explains why M&A has apparently little impact on the firm size distributions in existing data sets. Our approach is very flexible and can be extended to account for other sources of external growth, thus contributing towards a holistic understanding of the distribution of firm sizes. PMID:28841683

Quantification of the evolution of firm size distributions due to mergers and acquisitions.

Science.gov (United States)

Lera, Sandro Claudio; Sornette, Didier

2017-01-01

The distribution of firm sizes is known to be heavy tailed. In order to account for this stylized fact, previous economic models have focused mainly on growth through investments in a company's own operations (internal growth). Thereby, the impact of mergers and acquisitions (M&A) on the firm size (external growth) is often not taken into consideration, notwithstanding its potential large impact. In this article, we make a first step into accounting for M&A. Specifically, we describe the effect of mergers and acquisitions on the firm size distribution in terms of an integro-differential equation. This equation is subsequently solved both analytically and numerically for various initial conditions, which allows us to account for different observations of previous empirical studies. In particular, it rationalises shortcomings of past work by quantifying that mergers and acquisitions develop a significant influence on the firm size distribution only over time scales much longer than a few decades. This explains why M&A has apparently little impact on the firm size distributions in existing data sets. Our approach is very flexible and can be extended to account for other sources of external growth, thus contributing towards a holistic understanding of the distribution of firm sizes.

Quantification of the evolution of firm size distributions due to mergers and acquisitions.

Directory of Open Access Journals (Sweden)

Sandro Claudio Lera

Full Text Available The distribution of firm sizes is known to be heavy tailed. In order to account for this stylized fact, previous economic models have focused mainly on growth through investments in a company's own operations (internal growth. Thereby, the impact of mergers and acquisitions (M&A on the firm size (external growth is often not taken into consideration, notwithstanding its potential large impact. In this article, we make a first step into accounting for M&A. Specifically, we describe the effect of mergers and acquisitions on the firm size distribution in terms of an integro-differential equation. This equation is subsequently solved both analytically and numerically for various initial conditions, which allows us to account for different observations of previous empirical studies. In particular, it rationalises shortcomings of past work by quantifying that mergers and acquisitions develop a significant influence on the firm size distribution only over time scales much longer than a few decades. This explains why M&A has apparently little impact on the firm size distributions in existing data sets. Our approach is very flexible and can be extended to account for other sources of external growth, thus contributing towards a holistic understanding of the distribution of firm sizes.

Collaborative Communities of Firms

DEFF Research Database (Denmark)

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

2011-01-01

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

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

Science.gov (United States)

Gong, Yaping; Zhou, Jing; Chang, Song

2013-01-01

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

Dimensoni di impresa, divisioni del lavoro e ampiezza del mercato. (Firm size and the division of labor

Directory of Open Access Journals (Sweden)

B. CONTINI

2013-12-01

Full Text Available La recente pubblicazione del 1981 del Censimento industriale in Italia ha messo in evidenza un fenomeno di cui vi erano già stati alcuni segni da un certo numero di anni - il fatto che le imprese manifatturiere di ogni settore stanno riducendo le loro dimensioni. I dati indicano che sia l'aspetto di un gran numero di piccole imprese nuove e la riduzione del numero medio dei dipendenti delle imprese esistenti di tutte le dimensioni hanno contribuito a questo . Conclusioni simili sono state tratte per gli altri paesi europei. L'ipotesi dell'autore è che la riduzione osservata della dimensione media delle imprese è causata da due fattori concomitanti: ( 1 la maggiore rigidità della struttura dei costi complessivi delle imprese commerciali; ( 2 la maggiore incertezza nei mercati dei fattori e dei prodotti , il che rende le strutture organizzative più flessibili desiderabile .The recent publication of Italy’s 1981 Industrial Census has highlighted a phenomenon of which there had already been some signs for a number of years - the fact that manufacturing firms in every sector are reducing their size. The data indicate that both the appearance of a large number of small new firms and the reduction in the average number of employees in existing firms of all sizes have contributed to this. Similar conclusions have been drawn for other European countries. The author’s hypothesis is that the observed reduction in the average size of firms is caused by two concurrent factors: (1 the increased rigidity of the overall cost structure of business firms; (2 the increased uncertainty in both factor and product markets, which makes more flexible organisational structures desirable.JEL: L16, L60, O14

Working Capital Management Policies and Returns of Listed Manufacturing Firms in Ghana

Directory of Open Access Journals (Sweden)

Adam Anokye M.

2017-06-01

Full Text Available This study sought to determine the effects aggressive/conservative current asset investment and financing policies have on firms′ return for six manufacturing firms listed at Ghana Stock Exchange for a period of 2000-2013. Data were obtained from the annual reports of the firms and the Ghana Stock Exchange. The study adopted longitudinal explanatory non-experimental research design applied to dynamic panel ARDL framework in analyzing the data. The results revealed that the current asset investment and financing policies have highly significant positive effects on returns to equity holders in the long-run. The empirical evidence suggests that conservative current asset investment policies increase firms return while conservative financing policies yields negative returns. The study therefore would enable finance managers to be able to fashion out the appropriate working capital management policies. A firm pursuing conservative current asset investment policy should balance it with aggressive current asset financing policy in order to enhance profitability and create value for their investors.

The Intangible Assets of Korean Manufacturing Firms for Foreign Direct Investment

Directory of Open Access Journals (Sweden)

Sunghoon Hong

2004-12-01

Full Text Available This paper attempts to apply the intangible assets approach to the emerging multinational enterprises of Korea. More specifically, it tries to empirically analyze whether Korean firms investing in foreign markets possess more advanced intangible assets than those investing only in the domestic market, and whether Korean firms exploit different types of tangible assets in different host regions. The following conclusions have been drawn by analyzing the data on Korea manufacturing firms listed on the Stock Exchange. First, firms investing in foreign markets possess more advanced intangible assets than domestic market-oriented ones. More specifically, firms investing in the Western developed region are shown to be superior in the economies of scale, R&D, advertising intensity, capital intensity, and interfirm linkages, whereas those investing in the Asian developing region are superior only in the economies of scale and organizational skills. This implies that Korean firms operating in developed countries seem to exploit a wider range of intangible assets to address intense competition and sophisticated demand in the host markets. And, when firms investing in the developed and developing regions are compared directly, the former group are found to exploit technological capability and interfirm linkages more intensively. Second, availability of internal funds and human capital intensity do not show statistical significances, implying that these abilities are not different between firms investing in foreign markets and the domestic market. Third, Korean multinational enterprises are more similar to Japanese than Western ones in terms that they actively exploit organizational skills and interfirm network. Nonetheless, these conclusions have been derived by analyzing the data on parent firms, based on the assumption that Korean overseas subsidiaries commonly share the intangible assets of their parents. This weakness is mainly due to the limited

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...

ICT, skills, and organizational change: evidence from Italian manufacturing firms

OpenAIRE

Paola Giuri; Salvatore Torrisi; Natalia Zinovyeva

2008-01-01

This article examines the complementarity among information and communication technologies (ICT), skills, and organizational change from a panel of 680 Italian manufacturing firms during 1995-2003. By drawing on different statistical methods, we found evidence of complementarity between skills and organizational change, but did not find evidence of complementarity between ICT and skills. Moreover, our results show that the hypothesis of full complementarity among ICT, human capital, and organ...

Small firm transformation through IS

NARCIS (Netherlands)

Levy, Margi; Powell, Philip

2008-01-01

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

Scale and technological factors in the diversification structure of business firms

NARCIS (Netherlands)

Castaldi, C; Milakovic, M; Secchi, A

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

Small and medium sized enterprises (SMEs) in international business: A survey of recent literature

OpenAIRE

Schmidt, Klaus-Dieter

1996-01-01

It is often argued that the process of globalization has mainly favoured large-scale multinational companies which are able to organize their business efficiently within internal hierarchies. However, globalization has not only pushed cross-border intra-finn transactions but also other arrangements among firms such as licensing or subcontracting that fall short of ownership involvements. This opens up new opportunities for small and medium sized enterprises, too. The paper provides a general ...

Determinants of Profitability of Food Industry in India: A Size-Wise Analysis

Directory of Open Access Journals (Sweden)

Ramachandran Azhagaiah

2012-01-01

Full Text Available Profitability is the profit earning capacity, which is a crucial factorin contributing to the survival of firms. This paper is a maidenattempt at estimating the impact of size on profitability, consideringthe ‘size’ as the control variable. For this purpose, the selectedfirms are classified into three size categories as ‘small,’ ‘medium,’and ‘large’ based on the sales turnover. The results show that volatilityand growth are the major predictors in determining profitabilityin case of small size firms while growth is important in determiningthe profitability of medium size firms. Capital intensityhas a significant positive coefficient with the profitability of largesize firms. The overall result shows that the larger the size of thefirm, the more the investment in long lived assets has helped toincrease the profitability of the firm unlike the trend in cases ofsmall size and medium size firms.

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

OpenAIRE

Balkan, Binnur; Tumen, Semih

2015-01-01

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

Credit demand in Mozambican manufacturing

DEFF Research Database (Denmark)

Byiers, Bruce; Rand, John; Tarp, Finn

2010-01-01

This paper uses two industrial firm surveys to identify the key determinants of credit demand in Mozambican manufacturing. We construct five different measures of being credit constrained and estimate desired debt demand. Besides firm size and ownership structure, we find evidence that general...

Assessing the Impact of IT Competency on Organizational Learning Capability of Indonesian Manufacturing Firms

Directory of Open Access Journals (Sweden)

Alizar Hasan

2010-01-01

Full Text Available This paper attempt to assessing the impact of IT competency on organizational learning capability by using the measurement scale that have been developed by Tippins et al. and Gomes et al. These studies cover a sample of 192 manufacturing firms. IT competencies are classified into three dimensions: IT knowledge, IT operations, and IT objects, and organizational learning capability are classified into four dimensions: Managerial commitment, System perspec-tive, Openness and experimentation, and Knowledge transfer and integration. The result of factor analysis on IT competency and Organizational learning capability show that all items have high loading only on a single factor with ranging from .60 to .84. The findings revealed that IT competency positively and significantly influences the organizational learning capability of Indonesian manufacturing firms.

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

Science.gov (United States)

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

2018-03-01

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

Job Stress in the United Kingdom: Are Small and Medium-Sized Enterprises and Large Enterprises Different?

Science.gov (United States)

Lai, Yanqing; Saridakis, George; Blackburn, Robert

2015-08-01

This paper examines the relationships between firm size and employees' experience of work stress. We used a matched employer-employee dataset (Workplace Employment Relations Survey 2011) that comprises of 7182 employees from 1210 private organizations in the United Kingdom. Initially, we find that employees in small and medium-sized enterprises experience lower level of overall job stress than those in large enterprises, although the effect disappears when we control for individual and organizational characteristics in the model. We also find that quantitative work overload, job insecurity and poor promotion opportunities, good work relationships and poor communication are strongly associated with job stress in the small and medium-sized enterprises, whereas qualitative work overload, poor job autonomy and employee engagements are more related with larger enterprises. Hence, our estimates show that the association and magnitude of estimated effects differ significantly by enterprise size. Copyright © 2013 John Wiley & Sons, Ltd.

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.

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

Adoption of Technology as a Response Strategy to Globalization: A Study of Manufacturing Firms in Kenya

OpenAIRE

Solomon Kinyanjui; Margaret A. Oloko; Hazel G. Gachunga; Beatrice G. Gathondu

2014-01-01

Globalization affects local and international firms in many ways. Studies have shown that factors in the internal as well as external environments of firms influence the rate to which globalization will affect them. On the local scene however, no known studies have been done on the response of manufacturing firms to counter globalization. In addition, since the concept of globalization is multidimensional and its influence is varied in nature, this study aimed at investigating how manufacturi...

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)

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

Directory of Open Access Journals (Sweden)

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.

A survey of manufacturers of solar thermal energy systems

Science.gov (United States)

Levine, N.; Slonski, M. L.

1982-01-01

Sixty-seven firms that had received funding for development of solar thermal energy systems (STES) were surveyed. The effect of the solar thermal technology systems program in accelerating (STES) were assessed. The 54 firms still developing STES were grouped into a production typology comparing the three major technologies with three basic functions. It was discovered that large and small firms were developing primarily central receiver systems, but also typically worked on more than one technology. Most medium-sized firms worked only on distributed systems. Federal support of STES was perceived as necessary to allow producers to take otherwise unacceptable risks. Approximately half of the respondents would drop out of STES if support were terminated, including a disproportionate number of medium-sized firms. A differentiated view of the technology, taking into account differing firm sizes and the various stages of technology development, was suggested for policy and planning purposes.

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...

The dolphin attractor: Dialogue for emergent new order in a Dutch manufacturing firm

NARCIS (Netherlands)

Eijnatten, van F.M.; van Galen, M.C.

2002-01-01

This paper documents a series of complex responsive processes, observed in a Dutch capital-equip-ment manufacturing firm in the South of The Netherlands, which are focused on the development of the organisational mind, seen through the Chaos lens. The organisational goal is to facilitate

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...

Using the Critical Incident Technique to Research Decision Making regarding Access to Training and Development in Medium-Sized Enterprises

Science.gov (United States)

Coetzer, Alan; Redmond, Janice; Sharafizad, Jalleh

2012-01-01

Employees in small and medium-sized enterprises (SMEs) form part of a "disadvantaged" group within the workforce that receives less access to training and development (T&D) than employees in large firms. Prior research into reasons for the relatively low levels of employee participation in training and development has typically…

Realizing high performance on multiple stakeholder domains : A resource-based analysis of professional service firms in the Netherlands and Germany

NARCIS (Netherlands)

Glunk, U.

1999-01-01

This book presents an empirical study on small and medium-sized professional service firms in the Netherlands and Germany. The overall aim of this study was to specify and test those intra-organizational resources that enable small and medium-sized professional service firms to realize high

Entrepreneurial Aspiration and Flexibility of Small and Medium-Sized Firms

DEFF Research Database (Denmark)

Cao, Yangfeng; Li, Peter Ping; Skat-Rørdam, Peter

in the emerging markets as top-down venture. While some studies claim that the direct involvement of headquarters (HQ) of SMEs in the activities of their subsidiaries is essential, surprisingly little is known about how HQ specifically facilitates BMI at the subsidiary level, especially in the context of top......Primarily due to the large gaps in economic and institutional contexts between the developed and emerging markets, business model innovation (BMI) at the subsidiary level plays an important role for the success of small and mediumsized firms (SMEs) from the developed markets operating......-42 are two primary facilitators of BMI at the subsidiary level via the mechanisms of commitment and cooperation. We also found that BMI performance would influence the two facilitators in a feedback loop. Hence, we can contribute to the literatures on international entrepreneurship and strategic...

Strategic IS Planning Practices: A Case of Medium Manufacturing Company in Malaysia

Directory of Open Access Journals (Sweden)

Raja Mohd. Ali Raja Haslinda

2017-01-01

Full Text Available Deployment of Information Technology/Information Systems (IT/IS has been recognized as one of the potential means to supply information for timely business decision making. Despite growing importance of IT/IS in business, Small Medium Enterprises (SMEs embrace constant challenges to deploy IS effectively, and thus, hardly to optimize the IT/IS strategic values. In such situation, IS planning is getting paramount to promote more effective IT/IS management of the firms. This study reports IS planning practices of a manufacturing-based SME. The face to face interview has been carried out to explore IS planning activities in a chosen firm. The qualitative analysis suggests that the selected company did undergo the four phases of strategic IS planning process namely, planning, analysing, selection, and implementation. The owner act as the champion of the strategic IS planning process. Further, the owner and the employees plays an important role as a decision maker. Specifically, the owner decides mainly on acquiring a new technology related to the firm’s core business process whereas the users responsible on the selection of relevant application (s to be used in their respective departments. Apart from that, the owner also plays a role as a researcher for the new technology acquired whilst the users provide an input on the applications to be acquired.

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

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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.

Impact of psychosocial job stress on non-fatal occupational injuries in small and medium-sized manufacturing enterprises.

Science.gov (United States)

Nakata, Akinori; Ikeda, Tomoko; Takahashi, Masaya; Haratani, Takashi; Hojou, Minoru; Fujioka, Yosei; Swanson, Naomi G; Araki, Shunichi

2006-08-01

Workers involved in manufacturing are known to comprise a high-risk population for occupational injury, and this risk is greater in small and medium-sized enterprises (SMEs). The purpose of this study was to examine the association between psychosocial job stress and occupational injuries among workers in SMEs. One thousand forty-nine men and 721 women from 244 SMEs participated in this study. Perceived job stress was evaluated with the Japanese version of the generic job stress questionnaire, which covered 14 job stress variables. Occupational injury was assessed by self-report during the last 1-year period. Workers with high quantitative workload (odds ratio [OR] = 1.55 for men, 1.62 for women), high cognitive demands (OR = 1.70 for men, 1.53 for women), and low job satisfaction (OR = 1.33 for men, 1.93 for women) had a significantly increased risk of occupational injury in the multivariate model. High variance in workload (OR = 1.70) and high job future ambiguity (OR = 1.35) in men, and low job control (OR = 2.04) and high intragroup conflict (OR = 1.66) in women were significantly associated with occupational injury. In manufacturing/production workers, high quantitative workload (OR = 1.91), high variance in workload (OR = 2.02), and high depressive symptoms (OR = 1.55) were significantly associated with injury in men, while low social support from colleagues (OR = 2.36) or family (OR = 2.51) was related to injury in women. These data point to an independent relationship between psychosocial job stress and self-reported occupational injury in SMEs. Copyright 2006 Wiley-Liss, Inc

Determinants of fixed investment by manufacturing firms in a developing country

Energy Technology Data Exchange (ETDEWEB)

Bilsborrow, R E

1977-10-01

The validity of classical explanations of business investment decisions are examined and evidence is found that a less-pure approach is appropriate in the context of a developing country. A new data base is developed, using an electric model of manufacturing corporations in Colombia. The main empirical findings are: (1) An accelerator was accepted and institutionalized as a long-run investment. (2) Cash flow effects were a slightly more-important determinant of annual-investment variations than the accelerator in accordance with business uncertainties and undeveloped capital and loan markets. (3) Although the balance-sheet risk variable was the best variable in individual firm time-risk regression studies, no firm conclusions can be drawn without further investigation. (4) The single most-important influence on annual variations in investment by aggregates of firms was the availability of foreign exchange, which suggests the impact that changes in government policies can have on investment and economic activity. (5) Investment theory ''explained'' the behavior of foreign-controlled investment in Colombia better than that of Colombian corporations, whose executives may have been less willing to take risks. 56 references.

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

Handling of Environmental Related Requirements : Awareness and Ability to Act at Small and Medium Sized Electric and Electronic Companies

OpenAIRE

Lin, Han-Hsuan

2008-01-01

Environmental related product requirements are increasing worldwide from government authorities, customers and other stakeholders. For small and medium sized companies manufacturing electric and electronic products it is more difficult compared to bigger companies to meet new product related requirements due to smaller budget, resources and knowledge. This research studies the awareness and ability to act upon changes when small and medium sized companies in Sweden face environmental related ...

Corporate governance practices and financial performance: The mediating effect of risk management committee at manufacturing firms

Directory of Open Access Journals (Sweden)

Edyanus Herman Halim

2017-12-01

Full Text Available This study attempts to examine the effect of the Risk Management Committee on firm performance, and the intervening effect of the Risk Management Committee on the relationship between Corporate Governance, Firm Size, Financial Reporting Risk, and Firm Performance. Using the purposive sampling method, 299 firms were selected as the sample. This study used secondary data obtained from the companies’ annual reports, and the data was then analyze using SPSS, version 20.0. The results of this study indicate that the entire research hypothesis is accepted. This study found that the Risk Management Committee affects firm performance, and that Risk Management Committee acts as the intervening variable in the relationship between corporate governance, firm size, and financial reporting risk on firm performance. The existence of RMC would facilitate the company to control better the quality of financial reporting risks.

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...

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....

It takes two to tango : An empirical tale of distressed firms and assisting banks

NARCIS (Netherlands)

Couwenberg, Oscar; de Jong, Abe

2006-01-01

We study the restructuring process of small and medium-sized firms in financial distress. We have a unique dataset with firms in the Netherlands that are assisted in their restructuring effort by banks. Part of our dataset consists of firms that successfully restructure their operations and

It Takes Two To Tango: an empirical tale of distressed firms and assisting banks

NARCIS (Netherlands)

A. de Jong (Abe)

2004-01-01

textabstractWe study the restructuring process of small and medium-sized firms in financial distress. We have a unique dataset with firms in the Netherlands that are guided in their restructuring effort by banks. Part of our dataset consists of firms that successfully restructure their operations

Labour standards application among multinational and domestic firms in Ghana’s manufacturing sector

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Dziedzom-Akorsu Angela

2011-01-01

Full Text Available This paper provides an empirical analysis of the labour standards application patterns and influences among multinational and domestic firms in Ghana. Discourses on labour standards application have continued to attract much interest in recent years. This is because globalization, in tandem with multinational corporations, has made the application of labour standards more challenging and ever more relevant. Yet competing viewpoints raised among social scientists on the subject are inconclusive and still on-going. While some are of the view that multinational companies (MNCs maintain higher labour standards than the domestic firms of their host countries, others concede that their standards are lower due to their exploitative tendencies. By means of a survey of 248 multinational and domestic firms in the manufacturing sector of Ghana, this paper concludes that there are a number of contingent factors that determine labour standards application, and so it is misleading to put all firms together and make blanket statements as to whether or not one group maintains higher labour standards than the other.

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.

Firm Size and Monetary Policy Transmission: A Theoretical Model on the Role of Capital Investment Expenditures

NARCIS (Netherlands)

Raabe, K.; Arnold, I.; Kool, C.J.M.

This paper presents a dynamic investment model that explains differences in the sensitivity of small- and large-sized firms to changes in the money market interest rate. In contrast to existing studies on the firm size effects of monetary policy, the importance of firms as monetary transmission

Determinants of the Capital Structure of Small and Medium Sized Brazilian Enterprises

Directory of Open Access Journals (Sweden)

Wilson Toshiro Nakamura

2013-07-01

Full Text Available This research investigates the determinants of the capital structure of small and medium enterprises (SMEs using a unique database that includes over 19,000 Brazilian firms and spans 13 years of data. The econometric analysis employs the System Generalized Method of Moments estimator (GMM-Sys and two strong results emerge: (a profitability is negatively related to leverage, and (b asset growth is positively related to leverage. Both results are consistent with the pecking order theory of capital structure and suggest that SMEs tend to finance their expansion with debt only after exhausting their internal resources. Additionally, we find weaker evidence for the following: (a size is positively related to leverage, which can be interpreted as evidence that larger firms have more access to credit markets; (b riskier SMEs tend to be less financially leveraged, consistent with the bankruptcy cost arguments from trade-off theories; and (c the age of the firm is negatively related to financial leverage, suggesting that older SMEs may be slightly more conservative in their financing choices. Finally, the magnitude of the coefficient of lagged leverage shows the high persistence of this variable and is compatible with the hypothesis that SMEs adjust their debt/equity ratio towards a target value, although at a low speed.

Disposition of Human Resource Development Structure in Manufacturing Firms in Malaysia

OpenAIRE

Haslinda Abdullah

2009-01-01

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

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

Science.gov (United States)

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

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

Social manufacturing

OpenAIRE

Hamalainen, Markko; Karjalainen, Jesse

2017-01-01

New business models harnessing the power of individuals have already revolutionized service industries and digital content production. In this study, we investigate whether a similar phenomenon is taking place in manufacturing industries. We start by conceptually defining two distinct forms of firm-individual collaboration in manufacturing industries: (1) social cloud manufacturing, in which firms outsource manufacturing to individuals, and (2) social platform manufacturing, in which firms pr...

The relationship between family orientation, organization context, organization structure and firm performance

NARCIS (Netherlands)

Meijaard, J.; Uhlaner, L.M.

2004-01-01

This study focuses on the prediction of three firm performance indicators, sales growth, innovation performance and profitability, on a sample of small and medium-sized firms in the Netherlands. Predictions from agency theory and the resource based view of organizations lead to alternate hypotheses

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

DEFF Research Database (Denmark)

Dahlgren, Johan Henrich

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

Female labour force participation in MENA's manufacturing sector: The implications of firm-related and national factors

OpenAIRE

Fakih, Ali; Ghazalian, Pascal L.

2013-01-01

The Middle East and North Africa (MENA) region falls behind several other geo-economic regions in terms of women's participation rates in the labour market. This paper examines the implications of firm-related and national factors for Female Labour Force Participation (FLFP) rates in manufacturing firms located in the MENA region. The empirical investigation uses data derived from the World Bank's Enterprise Surveys database and applies fractional logit models to carry out the estimations. Th...

A Review of Supply Chain Collaboration Practices for Small and Medium-sized Manufacturers

Science.gov (United States)

Wee, SY; Thoo, AC; Z, Sulaiman; FM, Muharam

2016-05-01

For the decades, organizations have endeavored to look for external sources for opportunities to achieve efficient and responsive supply chain with their partners especially for small and medium manufacturers (SMM). In this scenario, supply chain collaboration (SCC) is an interaction between supply chain members with the purpose of utilizes the knowledge and resources of customers and suppliers, and integrates the flows of products and information in order to achieve a common goal and obtain mutual benefit. The essential SCC dimensions for SMMs comprised of information sharing, joint knowledge creation, joint decision making, goal congruence and incentive sharing. The successful implementation of SCC can give SMMs an edge over their competitors. This paper aims to introduce a review of SCC practices for SMM. Overall, the findings provide managerial insights for the SMM in SCC implementation owing to resource scarcity and the need to draw SCC in order to ensure a sustainable competitive advantage.

Association between firm characteristics and corporate voluntary disclosure: Evidence from Turkish listed companies

Directory of Open Access Journals (Sweden)

Ali Uyar

2013-12-01

Full Text Available Purpose: This paper empirically investigates the factors that impact voluntary information disclosure level of Turkish manufacturing companies listed in the Istanbul Stock Exchange (ISE. Design/methodology/approach: The methodology of the study is content analysis of annual reports of the corporations listed on the ISE for the year 2010. Findings: The findings provide evidence of a positive association between voluntary information disclosure level and the variables such as firm size, auditing firm size, proportion of independent directors on the board, institutional/corporate ownership, and corporate governance. However, leverage and ownership diffusion were found to have negative significant association with the extent of voluntary disclosure. The remaining variables, namely, profitability, listing age, and board size were found to be insignificant. Research limitations/implications: Since this study was conducted solely on listed manufacturing companies, the results may not be generalizable to non-listed and non-manufacturing industries. The study has some implications for firms, auditors, investors, and regulators. All these parties play an important role in improving the transparency and disclosure practices of corporations. Originality/value: We extend previous research on the determinants of voluntary information disclosure in the emerging market context.

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...

Strategic management in micro, small and medium-sized businesses in relation to financial success of the enterprise

Directory of Open Access Journals (Sweden)

Monika Švárová

2013-01-01

Full Text Available Small and medium sized enterprises play an essential role in the economy of the Czech Republic as a report of development of small and medium-sized enterprises and its support from 2010 announces. They are the source of development of towns, regions and the state itself. Small and medium-sized enterprises represent 99.84 % of the whole business subjects. Statistic data underline this position- they indicate that small and medium-sized enterprises employ 2/3 employees. Therefore, occupying small and medium-sized enterprises are to be taken as priority.Strategic management on the level of small and medium-sized enterprises is, as number of authors write, diverse. Small enterprises including micro have less access to capital, they have no money for employing specialists in the field, and they solve administration primarily. The aim of this follow-up GAJU project contribution concerned on process analysis of small and medium-sized enterprises is to summarize the gained results from the view of comparison of the level of strategic management in small and medium-sized enterprises.Nowadays, numbers of enterprises are thinking about whether they are able to remain in the market as an established company, they explore the possibility of improving its position. There is a question for small and medium-sized enterprises management- can strategic management be used as an instrument for increasing competitiveness? The results show that SMEs with a clearly defined strategy show better results of financial health (IN99 and ROA than companies without a defined strategy. In terms of business focus, we were able to demonstrate positive relationship between strategy and finance only for companies in the construction industry, on the significance level of 0.05. Compared to manufacturers and service-providing companies where this relation is not statistically significant.

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

Directory of Open Access Journals (Sweden)

Antônio Marcos Hoelz Pinto Ambrozio

2017-01-01

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

Do Services differ from Manufacturing? The Post-Entry Performance of Firms in Dutch Services

NARCIS (Netherlands)

D.B. Audretsch (David); L. Klomp (Luuk); A.R. Thurik (Roy)

1998-01-01

textabstractA large literature has emerged focusing on the post-entry performance of firms and, in particular, on the links between firm growth, survival, size and age. While these studies have resulted in findings that are sufficiently consistent as to constitute Stylized Facts, virtually all of

Audit Firm Size and Market Price Per Share of Quoted Companies in Nigeria

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Augustine O. Okolie

2014-05-01

Full Text Available This study investigates the influence which audit firm size exerts on the market value per share of companies in Nigeria. Based on a sample of 342 companies – year observations from the NSE and applying audit firm size as a measure, comprehensive multivariate analyses were conducted on archival data covering 2006 – 2011. The result showed that audit firm size exerts significant relationship and significantly influences market price per share of the companies in the sample. It is suggested that companies in Nigeria should improve their earnings quality only through sales growth and cost control strategies and present distinct reports on earnings quality. Furthermore, company auditors should issue Integrated Audit Quality Assurance Reports based on earnings quality assessment, statutorily backed by earnings monitoring of companies in Nigeria while regulatory agencies should issue authoritative codes of best practice in Nigeria.

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

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Abubakr SAEED

2009-05-01

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

Tax incentives and firm size : effects on private R&D investment in Spain

NARCIS (Netherlands)

Labeaga Azcona, J.; Martínez-Ros, E.; Mohnen, P.

2014-01-01

The use of fiscal policy instruments to stimulate private R&D is widespread and important in some countries like Spain. In this paper we explore the effectiveness of R&D tax incentives on knowledge capital accumulation in Spanish manufacturing firms using an unbalanced panel and compare the

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

Firm and Auditor Characteristics, and Audit Report Lag in Manufacturing Companies Listed on Indonesia Stock Exchange during 2008-2012

Directory of Open Access Journals (Sweden)

Mukhtaruddin

2015-03-01

Full Text Available One of the qualitative characteristics of financial reporting is relevant. Its manifestation can be seen from the timeliness of reporting. Timeliness could be judged from the audit report lag, which is the length of time from the end of company’s fiscal year to the date of auditor's report. This research aims to empirically examine the influence of firm size, operation complexity, auditor quality, and auditor's opinion on audit report lag of manufacturing companies listed in Indonesia Stock Exchange. The population of this research consists of manufacturing companies, listed on Indonesia Stock Exchange from 2008 to 2012 as many as 111 companies with the research’s sample of 65 companies or 325 observational data, which were selected by purposive sampling method. The data are secondary data obtained from Indonesia Stock Exchange. The research proves that simultaneously, all variables significantly influence the audit report lag. Subsequently in partial, variables ‘firm size’, ‘auditor's opinion’ have a significant and positive effect on audit report lag, the ‘auditor quality’ has a significant and negative effect on audit report lag, while the variable ‘operation complexity’ has no significant effect on audit report lag. The coefficient of determination ?(R?^2 in this study was 0.192 or 19.2 % and the remaining 80.8 % is influenced by other factors that were not examined.

Energy policies for increased industrial energy efficiency: Evaluation of a local energy programme for manufacturing SMEs

International Nuclear Information System (INIS)

Thollander, Patrik; Danestig, Maria; Rohdin, Patrik

2007-01-01

The most extensive action targeting the adoption of energy efficiency measures in small- and medium-sized manufacturing industries in Sweden over the past 15 years was project Highland. This paper presents an evaluation of the first part of this local industrial energy programme, which shows an adoption rate of more than 40% when both measures that have already been implemented and measures that are planned to be implemented are included. A comparison between this programme and another major ongoing programme for the Swedish energy-intensive industry indicates that the approach used in project Highland aimed at small- and medium-sized industries is an effective way to increase energy efficiency in the Swedish industry. The major barriers to energy efficiency among the firms were related to the low priority of the energy efficiency issue

AN INVESTIGATION INTO MEDIUM-SIZED MULTINATIONAL ENTERPRISES

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Daniele Schilirò

2013-09-01

Full Text Available The paper provides an investigation of medium-sized Italian industrial enterprises that have become multinational companies. It concetrates on the set of medium and medium-large enterprises who seem to grow more in foreign markets, either through exports or through foreign direct investment. The work also offers a descriptive empirical picture of the performance of medium-sized Italian multinationals, which is compared with the performance of large corporations. From this analysis, which is based on several data sources, it is possible to outline a profile regarding the medium-size italian multinational enterprises; the aim is to understand the complex strategy towards internationalization of these companies, where the dimension of production is important and, therefore, innovation has a key role. Also the commercial dimension is crucial, because it leads to point to the direct supervision of foreign markets and to look very carefully at the customers, offering them a wide range of services. Finally, the paper highlights some critical issues that the medium sized multinational enterprises have to face for competing: namely, the stagnant productivity, the high taxation, the insufficient institutional support for internationalization, the bureaucracy and its high costs, the lack of skilled human capital available in the labor market due to inadequate policy training.

Linking bonding and bridging ownership social capital in private firms : Moderating effects of ownership-management overlap and family firm identity

NARCIS (Netherlands)

Uhlaner, L.M.; Matser, I.; Flören, R.H.; Berent-Braun, M.M.

2015-01-01

This study examines the relationship between bonding and bridging ownership social capital (OSC) for a random sample of 679 privately held small and medium-sized firms. Results confirm the positive effects of bonding OSC (quality of relationships and shared vision) on bridging OSC (network

Linking bonding and bridging ownership social capital in private firms : moderating effects of ownership-management overlap and family firm identity

NARCIS (Netherlands)

Lorraine M. Uhlaner; Marta M. Berent-Braun; Ilse A. Matser; Roberto H. Flören

2015-01-01

This study examines the relationship between bonding and bridging ownership social capital (OSC) for a random sample of 679 privately held small and medium-sized firms. Results confirm the positive effects of bonding OSC (quality of relationships and shared vision) on bridging OSC (network

An application to measure impact of working capital management on profitability in firms in manufacture sector quoted on ISE

OpenAIRE

Akbulut, Ramazan

2011-01-01

The purpose of this study is to investigate the relationship between working capital management and firm profitability of corporations in manufacture sector which are listed in İstanbul Stock Exchange for the period of 2000-2008. Working capital management is important part in firm financial management decision. The ability of the firm to continuously operate in longer period depends on how they deal with investment in working capital management. The optimal of working capital management coul...

The relationship between family orientation, organization context, organization structure and firm performance

OpenAIRE

Joris Meijaard; Lorraine Uhlaner

2004-01-01

This study focuses on the prediction of three firm performance indicators, sales growth, innovation performance and profitability, on a sample of small and medium-sized firms in the Netherlands. Predictions from agency theory and the resource based view of organizations lead to alternate hypotheses regarding the direct and indirect effects of family ownership and management on firm performance. Other variables in the analysis include various organization structure variables including standard...

Small and Medium Enterprises` (SMEs) Access to Finance: Philippines

OpenAIRE

Aldaba, Rafaelita M.

2012-01-01

Based on a survey of 97 firms in the garments, textiles, automotive, electrical and electronics, and food manufacturing industries; the paper highlights the difficulties faced by small and medium enterprises (SMEs) in accessing finance. For both firms with access to finance as well as those that did not make any finance request, financing obstacles posed as one of the top four serious problems for the growth of their businesses. The survey indicates the continued dependence of SMEs on interna...

Drivers of relationships affecting B2B firms in an e-commerce environment

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Irene Samanta

2014-09-01

Full Text Available The advent of the internet has created numerous opportunities for B2B marketing professionals to enhance current marketing practices, including electronic relationships. However, the investigation of e-relationships and the factors that influence e-relationships in an internet environment is scant. Further, there appears to be no investigation of this phenomenon within the context of Greek B2B Medium-sized firms (MSF. Τhe research problem investigated in this research is: “Which drivers in B2B e-commerce use affect inter-firm relationships in medium-sized B2B firms?”. A framework for B2B e-commerce relationships in a changing and globalized environment was synthesised and integrated with the literature about relationship marketing to arrive at the following research issues: “How do relationship marketing drivers affect the management of B2B e-relationships?”. An explanatory quantitative research approach was used and quantitative data was collected from B2B firms in Greece, which represents a case of e-commerce progress during the last six years. Regarding social exchange, some important differences emerge where cooperation between B2B e-commerce firms is concerned. Suppliers engaged in electronic commerce are more committed and oriented to a long-term relationship than buyers, based on both previous and current experience with them. Confidence in the relationships, consistency and honesty with their obligations and the exchange of reliable, trustworthy information and advisory services between firms are important factors in the development and establishment of their e-relationships. The main contribution of this research is the development of a theoretical framework for e-relationships in medium-sized Β2Β firms. That framework is the first rigorously researched step towards understanding the importance of these powerful streams of relationship drivers in total, and the business activity of e-marketing and electronic relationships.

Effects of post heat-treatment on surface characteristics and adhesive bonding performance of medium density fiberboard

Science.gov (United States)

Nadir Ayrilimis; Jerrold E. Winandy

2009-01-01

A series of commercially manufactured medium density fiberboard (MDF) panels were exposed to a post-manufacture heat-treatment at various temperatures and durations using a hot press and just enough pressure to ensure firm contact between the panel and the press platens. Post-manufacture heat-treatment improved surface roughness of the exterior MDF panels. Panels...

Aspects Regarding the Development and the Integration of the Corporate Social Responsibility Concept in Firms’ Behaviour. Particularities for Small and Medium-sized Enterprises

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Georgeta Vintila

2009-07-01

Full Text Available Starting from the concept of Corporate Social Responsibility (CSR, the purpose of this article is to highlight some of the particularities, at Small and Medium-sized Enterprises (SMEs level, regarding: socially responsible behaviour and participation in actions related to CSR; type of CSR strategies adopted by SMEs as compared to larger firms; the motivations, benefits and constraints of the social involvement. The ultimate question refers to the existence, nature and implications of a link between the firm size and the aspects mentioned above. These aspects will be presented according to the conclusions of the previous studies conducted in this area of research, the present paper representing therefore a theoretical synthesis of the existant literature.

Linking culture, organizational, learning orientation and product innovation performance: the case of Ethiopian manufacturing firms

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Beyene, K. T.

2016-05-01

Full Text Available Using formal survey data from textile and leather product manufacturing firms in Ethiopia, we investigate how the current national cultural setup (power distance, collectivism, masculinity and uncertainty avoidance is affecting organizational learning, orientation and product innovation performance. Further, we assess the moderating role of sector and ownership structure on the interrelationship. The result demonstrates that the current national culture setup is negatively affecting the learning and innovation activities of the firms in the country. It also shows that while sector type is neutral, ownership type significantly affects the interrelationship among culture, learning orientation and product innovation performance.

Simulation of Supply-Chain Networks: A Source of Innovation and Competitive Advantage for Small and Medium-Sized Enterprises

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Giacomo Liotta

2012-11-01

Full Text Available On a daily basis, enterprises of all sizes cope with the turbulence and volatility of market demands, cost variability, and severe pressure from globally distributed competitors. Managing uncertainty about future demand requirements and volumes in supply-chain networks has become a priority. One of the ways to deal with uncertainty is the utilization of simulation techniques and tools, which provide greater predictability of decision-making outcomes. For example, simulation has been widely applied in decision-making processes related to global logistics and production networks at the strategic, tactical, and operational levels, where it is used to predict the impact of decisions before their implementation in complex and uncertain environments. Large enterprises are inclined to use simulation tools whereas small and medium-sized enterprises seem to underestimate its advantages. The objective of this article is to emphasize the relevance of simulation for the design and management of supply-chain networks from the perspective of small and medium-sized firms.

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

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Godfrey MUPONDA

2014-07-01

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

Offshoring White-Collar Work: An Explorative Investigation of the Processes and Mechanisms in Two Danish Manufacturing Firms

DEFF Research Database (Denmark)

Slepniov, Dmitrij; Larsen, Marcus Møller; Wæhrens, Brian Vejrum

2010-01-01

of this paper is two folded: to explain why knowledge-intensive service work in manufacturing firms is increasingly subject to offshoring and to understand the effects of this process on integration mechanisms for the firms involved. The empirical part of the study is based on two qualitative case studies...... of Danish manufacturers, and on the basis of these, we first argue that the drivers of white-collar work offshoring in many respects are parallel to those of the earlier wave of blue-collar work offshoring. However, the existing offshoring and outsourcing frameworks do not necessarily adequately address....... By relating white-collar work offshoring to integration means companies instigate to manage it, we attempt to bridge the existing knowledge gaps and advance understanding of the process of white-collar work offshoring and its implications....

Does external technology acquisition determine export performance? Evidence from Chinese manufacturing firms

DEFF Research Database (Denmark)

Wang, Yuandi; Cao, Wei; Zhou, Zhao

2013-01-01

understanding of the determinants of export performance by examining the impact of the inter-organizational dimension of innovation strategy to export performance, which has been ignored in the prevailing “strategy tripod” perspective of exporting research. This study is based on a sample of 141 Chinese...... indigenous manufacturing firms that engaged in inward technology licensing between 2000 and 2003. The empirical results indicate that external technology acquisitions positively influence Chinese firms’ export performance. Moreover the exporting performance of using external technology varies depending...

The Myth of Female Credit Discrimination in African Manufacturing

DEFF Research Database (Denmark)

Hansen, Henrik; Rand, John

2014-01-01

for medium-sized enterprises. A generalised Oaxaca–Blinder decomposition shows that the gap is predominantly a pure gender effect. We argue that this finding is mainly due to female favouritism in loans to micro and small firms because the gap is reversed for medium-sized enterprises and because we find...

The Scientific Context of Product Portfolio Management at Manufacturing Firms

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Alvaro Luiz Neuenfeldt Júnior

2014-12-01

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

Inventory Management Strategies For Productivity Improvement In Equipment Manufacturing Firms

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T.T Amachree

2017-08-01

Full Text Available This study examined and developed Inventory Management Strategies IMS which could be creatively employed for Productivity Improvement in Equipment Firms PIEMF Equipment manufacturing projects suffer from declining productivity and inability to effectively satisfy customized order batch quantity within schedules budgeted cost and quality specifications due to lack of robust and well defined IMS as well as none code classification of vast number of inventory item. Survey and expost-facto research designs were adopted on the four identified IMS in three EMF. The method used for primary data collection and measurement on four IMS and inventory management parameters was questionnaire modelled into likert five point scale from the target respondents being experts in the subject matter. The secondary data was obtained from the computerised inventory status file of the three equipment manufacturing firms. The methods of primary data analysis and test of research used were Pearsons product moment correlation coefficient and oneway. Analysis of variance ANOVA computer software via Statistical Program for Social Science SPSS version 17 ABC analysis and classification of materials was used for code categorization of secondary data also with the aid of Microsoft excel. The results of the analyses highlighted and isolated A class of inventory items which are 137 out of 543 for Siemens Nig. Ltd 154 out of 551 for Dresser-Rand Nig. Ltd and 162 of 551 for Nigerian Engineering Works Ltd. The results of Pearson product moment correlation analysis and test of research hypotheses indicate that Materials Requirements Planning MRP followed by Supply Chain Management SCM are the most significant IMS as they correlate strongly with PIEMF. The study recommends IMS adoption by code classification of materials in which MRP or SCM could be deployed for management of A class of inventories while classical IMS could be used for management B and C classes of inventory items.

Modern methods of evaluation existing suppliers and suppliers selected by customer for small and medium-sized companies

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Marie Jurová

2010-01-01

Full Text Available On existing conditions on global market (almost identical quality, almost identical purchasing values companies have to definite the total rating of importance of evaluative criteria. In post-crisis period the problem of suppliers’ evaluation is one of the biggest, because companies had to use all resources and all possibilities to develop their own business. Many authors wrote about collaborative planning and warehousing as one of possibilities to optimization work inside supply chain. For this paper define small and medium-sized enterprises (SME as enterprises with the size of maximum 250 em­ployers. In literature was read we couldn’t find information about own system of suppliers evaluation for small and medium-sized enterprises. SME can have some different types of business and in this case need the universal system of eva­lua­tion. The research of this paper is oriented on small and medium-sized enterprises with different types of business. The new theoretical universal method of calculation for evaluation existing suppliers for small and medium-sized enterprises will present in this paper. This theoretical method is based on average values. This method includes traditional evaluative criteria (quality, delivery time and other (mobility of supplier, possibilities of new level of partnership. This method of evaluation can not be used for continual manufacture. New method can improve the total evaluation of supplier in small and medium-sized enterprises.

The Regional Heterogeneity of Productivity Determinants: Evidence from Ukrainian Firms

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Cieślik Andrzej

2017-03-01

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

Servitization in Industrial Firms

DEFF Research Database (Denmark)

Hsuan, Juliana; Frandsen, Thomas; Raja, Jawwad

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

Factors influencing the alignment of accounting information systems of accepted manufacturing firms in Tehran Stock Exchange

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Fazel Tamoradi

2014-03-01

Full Text Available The primary objective of this paper is to detect factors influencing the alignment of accounting information systems for firms in manufacturing sector listed on Tehran Stock Exchange. The concept of alignment has been investigated for many years, and strategic alignment plays essential role in increasing company performance. This paper investigates different levels of alignment and studies the factors, which influence alignment. More specifically, the work concentrates on the alignment between the requirements for accounting information (AIS requirements and the capacity of accounting systems (AIS capacity to build the information, in the specific context of manufacturing in Iran. The research sample consists of 216 companies over the period 2011-2007. The fit between these two sets was explored based on the moderation method and evidences indicate that AIS alignment in some firms was high. In addition, the relationship between the dependent variable and independent variables through multiple regressions yields a positive relationship between these variables.

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

Science.gov (United States)

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

2013-07-01

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

The source of investment cash flow sensitivity in manufacturing firms: Is it asymmetric information or agency costs?

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Daniel Makina

2016-09-01

Full Text Available In the literature, positive investment cash flow sensitivity is attributed to either asymmetric information induced financing constraints or the agency costs of free cash flow. Using data from a sample of 68 manufacturing firms listed on the South African JSE, this paper contributes to the literature by investigating the source of investment cash flow sensitivity. We have found that asymmetric information explains the positive investment cash flow sensitivity better than agency costs. Furthermore, asymmetric information has been observed to be more pronounced in low-dividend-paying firms and small firms. Despite South Africa’s having a developed financial system by international standards, small firms are seen to be financially constrained. We attribute the absence of investment cash flow sensitivity due to agency costs to good corporate governance of South African listed firms. Thus the paper provides further evidence in support of the proposition in the literature that the source of investment cash flow sensitivity may depend on the institutional setting of a country, such as its corporate governance.

Using financial derivatives to hedge against currency risk : British large and medium-sized firms

OpenAIRE

Nguyen, My

2012-01-01

Nowadays, as a growing number of firms strive to conduct their business at international market place, currency risk has increasingly raised concern among financial mangers due to its substantial impact on companies’ financial results. Financial derivative instruments (Forward, Futures, Options, Swaps) are utilized as efficient hedging mechanisms against such an exchange rate exposure. The main objective of this study is to examine whether derivatives play a primary role in mitigating an adve...

Planned growth as a determinant of the markup: the case of Slovenian manufacturing

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Maks Tajnikar

2009-11-01

Full Text Available The paper follows the idea of heterodox economists that a cost-plus price is above all a reproductive price and growth price. The authors apply a firm-level model of markup determination which, in line with theory and empirical evidence, contains proposed firm-specific determinants of the markup, including the firm’s planned growth. The positive firm-level relationship between growth and markup that is found in data for Slovenian manufacturing firms implies that retained profits gathered via the markup are an important source of growth financing and that the investment decisions of Slovenian manufacturing firms affect their pricing policy and decisions on the markup size as proposed by Post-Keynesian theory. The authors thus conclude that at least a partial trade-off between a firm’s growth and competitive outcome exists in Slovenian manufacturing.

THE RELATIONSHIP BETWEEN ORGANISATIONAL COMPETITIVE ADVANTAGE AND PERFORMANCE MODERATED BY THE AGE AND SIZE OF FIRMS

OpenAIRE

Alimin Ismadi Ismail; Haslinda Abdullah; Jegak Uli; Raduan Che Rose

2010-01-01

It has been argued that achieving a position of competitive advantage is a necessary precursor to a firm's significant performance. This paper will empirically examine the potential moderating variables that could affect the relationship between a firm's competitive advantage and performance, namely the firms' age and size. By examining the relative moderating effects of these variables, this paper delivers valuable information to firms, specifically with regard to strategic management direct...

EFFECT OF INTELLECTUAL CAPITAL, CAPITAL STRUCTURE AND MANAGERIAL OWNERSHIP TOWARD FIRM VALUE OF MANUFACTURING SECTOR COMPANIES LISTED IN INDONESIA STOCK EXCHANGE (IDX PERIOD 2010-2014

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Hamidah Hamidah

2015-09-01

Full Text Available The purpose of this study is to know the effect of Intellectual Capital, Capital Structure and Managerial Ownership on Firm Value in Manufacturing Company Listed on Indonesia Stock Exchange in 2010-2014. In this research, intellectual capital can be seen from VACA (Value Added Capital Employed, VAHU (Value Added Human Capital, and STVA (Structural Capital Value Added. The research model in this study employs panel data analysis. The samples are manufacturing companies listed in Indonesian Stock Exchange in 2010-2014 selected by purposive sampling. The result show that VACA and STVA has negative and not significant effect on firm value (Tobins’Q. Whereas, VAHU have positive and not significant effect on firm value. Capital structure (DAR have positive and significant effect on firm value. Managerial ownership (MGRL have negative and significant effect on firm value.

Does Adoption of Management Standards Deliver Efficiency Gain in Firms’ Pursuit of Sustainability Performance? An Empirical Investigation of Chinese Manufacturing Firms

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Xiaoling Wang

2016-07-01

Full Text Available Building on longitudinal data from 73 Chinese manufacturing firms during 2009–2012, we assess whether and how firms gain higher efficiency in achieving their sustainability goals by adopting management practice standards (ISO 9001, ISO 14001, and/or OHSAS 18001. We propose four pathways for firms to gain sustainability efficiency in their certification journey: participation, qualitative integration, quantitative expansion, and temporal accumulation. Our results confirm that firms certifying management standards gain higher efficiency in pursuing their sustainability goals than firms without these standards. We also find some support for increased efficiency effect in firms with diverse management systems over firms with only a single certificate in 2011. Finally, our results highlight the experiential and temporal accumulation effect of such efficiency gains, that is, firms with prior certification experience or having a longer certification history demonstrate higher efficiency gains in pursuing their sustainability goals.

Economies of scale and firm size optimum in rural water supply

Science.gov (United States)

Sauer, Johannes

2005-11-01

This article is focused on modeling and analyzing the cost structure of water-supplying companies. A cross-sectional data set was collected with respect to water firms in rural areas of former East and West Germany. The empirical data are analyzed by applying a symmetric generalized McFadden (SGM) functional form. This flexible functional form allows for testing the concavity required by microeconomic theory as well as the global imposition of such curvature restrictions without any loss of flexibility. The original specification of the SGM cost function is modified to incorporate fixed factors of water production and supply as, for example, groundwater intake or the number of connections supplied. The estimated flexible and global curvature correct cost function is then used to derive scale elasticities as well as the optimal firm size. The results show that no water supplier in the sample produces at constant returns to scale. The optimal firm size was found to be on average about three times larger than the existing one. These findings deliver evidence for the hypothesis that the legally set supplying areas, oriented at public administrative criteria as well as local characteristics of water resources, are economically inefficient. Hence structural inefficiency in the rural water sector is confirmed to be policy induced.

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

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Asmoro P.S.

2018-03-01

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

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

International Nuclear Information System (INIS)

Moyo, Busani

2013-01-01

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

DEBT AND AGENCY CONFLICT IN INDONESIAN MANUFACTURING FIRMS

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Hendra Wijaya

2017-04-01

Full Text Available Companies in Indonesia have shareholders who are not dispersed or in other words the ownership is only held by one majority shareholder. This study examined the effects of investment decision on the firm value and the debt moderation on the effects of investment decisions on firm value. Debt moderation was used to test the agency conflict of debt use on investment decision. The company samples in this research were 90 companies.This research was conducted by using panel data regression with moderation. This study found that investment decision had a positive effect on firm value and the use of higher debt could lower the positive effect of investment decision on firm value.

Designing and Validating a Model for Measuring Sustainability of Overall Innovation Capability of Small and Medium-Sized Enterprises

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Mohd Nizam Ab Rahman

2015-01-01

Full Text Available The business environment is currently characterized by intensified competition at both the national and firm levels. Many studies have shown that innovation positively affect firms in enhancing their competitiveness. Innovation is a dynamic process that requires a continuous, evolving, and mastered management. Evaluating the sustainability of overall innovation capability of a business is a major means of determining how well this firm effectively and efficiently manages its innovation process. A psychometrically valid scale of evaluating the sustainability of overall innovation capability of a firm is still insufficient in the current innovation literature. Thus, this study developed a reliable and valid scale of measuring the sustainability of overall innovation capability construct. The unidimensionality, reliability, and several validity components of the developed scale were tested using the data collected from 175 small and medium-sized enterprises in Iran. A series of systematic statistical analyses were performed. Results of the reliability measures, exploratory and confirmatory factor analyses, and several components of validity tests strongly supported an eight-dimensional (8D scale of measuring the sustainability of overall innovation capability construct. The dimensions of the scale were strategic management, supportive culture and structure, resource allocation, communication and networking, knowledge and technology management, idea management, project development, and commercialization capabilities.

Strategic HRM for SMEs: Implications for Firms and Policy

Science.gov (United States)

Brand, Maryse J.; Bax, Erik H.

2002-01-01

This paper is on the growing importance of strategic human resource management (SHRM) for small and medium-sized enterprises (SMEs). Many small firms encounter serious human resource problems, while at the same time these human resources play a vital role in developing and sustaining their competitive advantages. In (S)HRM literature specific…

Involvement of small and medium-sized enterprises (SMEs in elaborating and implementing public policies: Study case-Romanian small and medium-sized enterprises

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Popescu Ruxandra

2017-07-01

Full Text Available Involvement and development of the private sector in boosting the economy nationwide is a main objective of the current program of the government, which means that a good cooperation between small and medium companies, private companies and multinationals and public environment including both public institutions and policies implemented and developed by them, becomes more than necessary. The paper summarizes the findings of a quantitative research based on a self-applied questionnaire which was aimed at Romanian small and medium-sized enterprises and also of a qualitative research that gives an overview of the process of elaborating and implementing a public policy. The involvement of small and medium-sized enterprises in the process of designing and implementing a public policy can become indispensable but it is well know that there is, in fact, a lack of initiative at this level, from both parties. One of the main research questions of this paper is to find out how much do representatives of small and medium-sized enterprises get involved in the process of elaborating a public policy and how much do these actions and measures impact the organizational policies of the companies themselves. A good cooperation between the business environment and the public institutions and a strong correlation of their joint efforts, should become a common practice between both parties, being crucial that this form of cooperation to be initiated from the very beginning. The contribution of this paper is a practical one, given the fact that the paper itself entails the direct responses of small and medium-sized enterprises on the current and future public policies that directly targets them, providing as well an analysis on the effects of public policies on small and medium-sized enterprises. Thus being said, the paper can also be a guide for both small and medium-sized enterprises in providing examples and measures of involvement and favorable public policies

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...

Firm Size and Short-Term Dynamics in Aggregate Entry and Exit

NARCIS (Netherlands)

Manjon, M.C.

2004-01-01

Much of the research on industry dynamics focuses on the interdependence between the sectorial rates of entry and exit.This paper argues that the size of firms and the reaction-adjustment period are important conditions missed in this literature.I illustrate the effects of this omission using data

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

Determinants of Innovation in Croatian SMEs – Comparison of Service and Manufacturing Firms

Directory of Open Access Journals (Sweden)

Ljiljana Božić

2016-06-01

Full Text Available Purpose – In this paper we focus on SMEs in Croatia operating in the manufacturing and services sectors, and seek to compare them in terms of their involvement in innovation activities, and the factors determining their decision to innovate, in general and in four types of innovations in particular: product/service, process, organizational and marketing innovations. Design/Methodology/Approach – The analysis relies on the Croatian Community Innovation Survey 2010 (CIS 2010 data. To find out whether innovations have a different pattern of drivers in manufacturing and in services, we estimate the probit and multivariate probit models separately on these two groups of firms. Findings and implications – The findings reveal that, despite some differences, service and manufacturing SMEs are not that different from one another when it comes to innovation activities. Service SMEs are somewhat less likely to introduce technological innovations, but manufacturing and service SMEs do not differ significantly when it comes to non-technological innovations. One noteworthy difference between manufacturing and service SMEs is that the latter rely on acquired knowledge much more than do the former. Limitation – One limitation of the study is that most variables in the CIS dataset, including those on innovations, are of a binary nature, a fact that dictated the choice of the econometric model. In addition, the data pertain to the time period of an economic downturn in Croatia, which possibly affected the results obtained. Originality – This research contributes to understanding the drivers of innovation activities in SMEs and differences in this regard between manufacturing and services in Croatia.

The development and manufacture of size for size feeder pipe for feeder replacement

International Nuclear Information System (INIS)

Legate, G.; Schreiter, D.; Townley, N.

2008-01-01

The recently recognised problem of feeder pipe thinning created a unique sourcing problem. Operators require relatively small quantities of nuclear class 1 seamless feeder pipe for such replacement which prior to the introduction of this product in 2006 was not available. It was desired that the pipe be produced at the exact size of the pipe currently in use at the specific reactor site (feeder pipe size varies from site to site). Secondly the pipe had to be made in conformance to the original code year of issue and to conform to the intent of the original material specifications. Finally a supply strategy had to be implemented allowing for timely manufacture of replacement piping. This presentation will report upon how replacement size for size feeder tube was developed and is currently manufactured at Nu-Tech Precision Metals. The paper will also detail the current supply strategy to ensure timely manufacture of the product.

South African exporter performance: new research into firm-specific and market characteristics

Directory of Open Access Journals (Sweden)

Christopher May

2012-05-01

Full Text Available The export marketing performance of any firm is influenced by a multitude of different factors. Given the multi-faceted nature of the export market, this research study investigated specific factors such as how firm-specific characteristics, product characteristics, market characteristics and export marketing strategies impact on the export marketing performance of South African manufacturing firms. Some of the findings of this research study indicated that firm size, investment commitment and careful planning, as firm-specific characteristics, had a significant influence on export marketing performance. The relationship between export experience and export marketing performance was insignificant. The degree of pricing adaptation and product adaptation had a significant effect on export marketing performance, while this was not the case with respect to the degree of promotion adaptation and distributor support.

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

NARCIS (Netherlands)

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

2010-01-01

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

Stakeholders approach on corporate governance and performance of Vietnamese manufacturing firms

Directory of Open Access Journals (Sweden)

Dao Thi Thanh Binh

2017-06-01

Full Text Available Corporate governance is one of the most vital issues in this compound environment at present, which is indicated by the fact that the success or failure of firms strongly depends on performance of the control that board of directors and executive board, take on corporations’ activities. This issue has attracted a variety of researches worldwide, and become a popular buzz lately, however there is still limited researches on this topic in Vietnam. In this paper, we focus on manufacturing sector, one of the most important industries in Vietnam economy, which account for 41.2% of total GDP in 2012. By using stakeholder theory and Kitamura’s paper as a corner stone, a model using OLS regression and log functional form for production function, showing the relationship between some external factors and internal factors including corporate governance is built. From the result of the research, it has been found out that internal factors (corporate governance significantly affect the firm’s performance, whereas external factors (market share do not really show any influence. In term of production function, this manufacturing sector still benefits from an increase of capital but not that of labor.

Firm Size Distribution in Fortune Global 500

Science.gov (United States)

Chen, Qinghua; Chen, Liujun; Liu, Kai

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

Current status and future prospects of research and development operations in traditional and complementary and alternative medicine manufacturing small- and medium-sized enterprises: a 2014 company-based survey.

Science.gov (United States)

Ahn, Miyoung; Park, Eun-Ji; Woo, Jong-Min

2017-12-01

Small- and medium-sized enterprises (SMEs) have played key roles in the economic growth and technical innovation of traditional and complementary and alternative medicine (T&CM). Research and development (R&D) are critical activities for industrial progress. This study aimed to characterize the current status of SME R&D activities and to explore manufacturers' perceptions of R&D expansion. Records of the distribution of T&CM SMEs and R&D resources detailed in the 2014 Statistics of Korea T&CM Industries survey, a previously conducted survey on the industrial status of the T&CM field, were reviewed. Data on the perceptions of R&D activities were investigated through a company-based survey covering 285 T&CM-manufacturing SMEs. Greater than 99% of the 13,636 T&CM manufacturers at the time of the study were SMEs employing less than 50 workers. Natural cosmetics manufacturing SMEs (NC SMEs) had the highest R&D expenditures. NC SMEs rely heavily on internal R&D operations, which may contribute to their strong need for R&D collaboration with public research institutions and expanded T&CM-promoted R&D programs. "Digestive system disorders" are the main target diseases for current herbal and dietary supplement manufacturing SMEs and herbal medicine manufacturing SMEs. These SMEs tend to view their own product-related business as a priority for future R&D investment. This study represents the first attempt to assess SME perceptions of R&D activities. The findings herein can inform the design of sustainable programs that support R&D by reducing the gaps between the perspectives of T&CM product makers and policymakers.

EU-US differences in the size of R&D intensive firms : Do they explain the overall R&D intensity gap?

NARCIS (Netherlands)

Ortega Argiles, Raquel; Brandsma, Andries

The average firm size of the top R&D investors among US-based companies is smaller than that of the EU-based firms. Does this help to explain why the US has a greater R&D intensity, or is the greater firm size in the EU, just as its lower R&D intensity, determined by the sectors in which the top R&D

Information Security in Small and Medium-Sized Companies

OpenAIRE

David Kral

2011-01-01

Information security doesn’t involve only large organizations. Small and medium-sized companies must closely examine this issue too, because they are increasingly threatened by cyber attacks. Many of them mistakenly believe, that security of their valuable data is sufficient, or that the attackers are not interested in them. Existing standards and methodologies for implementation and management of information security are often hard to transfer to the environment of small and medium-sized bus...

Innovation and adoption of energy efficient technologies: An exploratory analysis of Italian primary metal manufacturing SMEs

International Nuclear Information System (INIS)

Trianni, Andrea; Cagno, Enrico; Worrell, Ernst

2013-01-01

Additional efforts will be needed by European countries to improve the energy efficiency, as with current trends the 20% objective will be missed. Small and medium-sized enterprises (SMEs) manufacturing sector is a promising field, as SMEs are less energy-efficient than larger enterprises. Several studies investigated the barriers to the diffusion of technologies and practices for industrial energy efficiency, but little attention has been paid to understand the factors affecting the perception of such barriers by SMEs. In this multiple case-study, we have investigated 20 Primary Metal manufacturing SMEs in Northern Italy. Economic and information barriers are perceived as the major issues. Interestingly, firm's size, innovativeness of the market in which enterprises operate, as well as product and process innovation are factors affecting barriers to energy efficiency. Differences have been observed within SMEs, especially for information and competence-related barriers. In particular, a more innovative external context in which enterprises operate and a greater production process complexity seem to reduce barriers. Moreover, more product innovative enterprises seem to have a lower perception of behavioral and technology-related barriers. The results of this exploratory investigation provide useful suggestions for policy design and further research on industrial energy efficiency. - highlights: • Economic and Information emerge as the most relevant barriers to energy efficiency. • Market, product and process innovation seem relevant factors affecting barriers. • Firm's size is a factor affecting barriers' perception

Comparison of the selected conditions of the small and medium-sized enterprise in the Czech Republic and EU

Directory of Open Access Journals (Sweden)

Helena Chládková

2009-01-01

Full Text Available Companies classified as small and medium-sized enterprises (SMEs account for a large proportion of Europe’s economic and professional activity. In practice, 99 % of business in the European Union are SMEs, and they provide two–thirds of all private sector jobs. So small firms are, in fact, the real ­giants of the European economy. Micro–business dominate employment in countries such as Italy 47 % and Poland 41 %, whilst the share of large enterprises in total employment in the United Kingdom is just 46 %.During the recent period of time there have been many researchers from the FBE MUAF in Brno, who focused on the analysis of the small and medium-sized enterprise, e.g. Nerudová (2006; Nerudová and Bohušová (2006; Kubíčková and Presová (2006; Zrůst and Pyšný (2008; Živělová and Zichová (2002.This paper is the part of the Research proposal MSM 6215648904 being solved at the FBE MUAF in Brno.

Exploring manufacturing solutions for SMEs

DEFF Research Database (Denmark)

Radziwon, Agnieszka; Blichfeldt, Henrik; Bilberg, Arne

This exploratory study provides an overview over current state of manufacturing solutions in small and medium sized enterprises (SMEs) in region of Southern Denmark. Building on manufacturing paradigms, this paper reveals relevant aspects for the development and implementation of improving SMEs...... of manufacturing solutions, which are required to increase their competitiveness and assure sustainable growth....

Technical Efficiency of Thai Manufacturing SMEs: A Stochastic Frontier Analysis

Directory of Open Access Journals (Sweden)

Teerawat Charoenrat

2013-03-01

Full Text Available AbstractA major motivation of this study is to examine the factors that are the most important in contributing to the relatively poor efficiency performance of Thai manufacturing small and medium sized enterprises (SMEs. The results obtained will be significant in devising effective policies aimed at tackling this poor performance.This paper uses data on manufacturing SMEs in the North-eastern region of Thailand in 2007 as a case study, by applying a stochastic frontier analysis (SFA and a technical inefficiency effects model. The empirical results obtained indicate that the mean technical efficiency of all categories of manufacturing SMEs in theNorth-eastern region is 43%, implying that manufacturing SMEs have high levels of technical inefficiency in their production processes.Manufacturing SMEs in the North-eastern region are particularly labour-intensive. The empirical results of the technical inefficiency effects model suggest that skilled labour, the municipal area and ownership characteristics are important firm-specific factors affecting technical efficiency. The paper argues that the government should play a more substantial role in developing manufacturing SMEs in the North-eastern provinces through: providing training programs for employees and employers; encouraging a greater usage of capital and technology in the production process of SMEs; enhancing the efficiency of state-ownedenterprises; encouraging a wide range of ownership forms; and improving information and communications infrastructure.

75 FR 38078 - Manufacturing and Services' Manufacture America Initiative and Events

Science.gov (United States)

2010-07-01

... and financing. Participants will be able to speak with peers who have successfully retooled, discuss... decision-makers from small and medium-sized U.S. manufacturers and service providers; as many as fifteen...

IMPACT OF CAPITAL STRUCTURE POLICY ON VALUE OF THE FIRM – A STUDY ON SOME SELECTED CORPORATE MANUFACTURING FIRMS UNDER DHAKA STOCK EXCHANGE

Directory of Open Access Journals (Sweden)

Jahirul HOQUE

2014-07-01

Full Text Available The study is about capital structure policy and its impacts on value of the firm. The outcome of this study was both the primary and secondary data. The study was based on opinions survey of 80 respondents of the 20 manufacturing corporate firms, enlisted under Dhaka Stock Exchange. The empirical analysis of the study was limited to a period of five years ranging 2008-2012. The major findings of the study are: (i the most important determinant of capital structure policy as rated by the respondents have been financial risk , profitability, availability of fund, productivity, liquidity, operating risk, growth rate, proper timing, corporate tax, stability of sales/ investment etc, (ii the study reveals that in terms of the average positions of capital structure and financial structure during 2008-2012, Beximco pharma has ranked first followed by Square pharma, Apex Adelchi, DESCO, ACI ltd, Titas gas, Bata shoe,Aftab automobile, Reneata pharma, Square textile ltd etc,(iii as regards the value of the firm during the study period, Titas gas has obtained first rank followed by Square pharma, DESCO, Beximco pharma, BATBC, ACI, Reneta pharma, Apex Tennary, Apex Adelchi, Bata shoe and so on.(iv this study has portrayed that the independent variables namely capital structure (CS, debt to equity (DER & debt to asset (DR, fixed assets to total assets(Tangibility, earnings before interest and taxes to interest charges(ICR, financial leverage multiplier(FLM have influenced value of the firm(VF to the extent of 79.1 percent significantly. Therefore, it is recommended that the relevant firm’s authority should take proper measures in order to improve the independent variables having positive influence on value of the firms.

75 FR 30781 - Manufacturing Council

Science.gov (United States)

2010-06-02

... convenience. Pending applicants remain under consideration and do not need to resubmit their applications..., particularly seeking the representation of small- and medium-sized enterprises. Additional factors which may be... marketing programs in support of manufacturing industries, job creation in the manufacturing sector, or the...

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...

THE IMPACT OF SPATIAL PROXIMITY TO CUSTOMERS, SUPPLIERS AND COMPETITORS ON INNOVATION ACTIVITY IN MEDIUM HIGH AND HIGH TECHNOLOGY INDUSTRY IN POLAND

OpenAIRE

Piotr Dzikowski

2016-01-01

The aim of this study is to determine the impact of spatial proximity to customers, suppliers and competitors on innovation activity in medium high and high technology manufacturing industries in Poland. It is assumed that innovation activity is facilitated by both local suppliers and customers whereas it is decreased by local competitors. The scope of the survey relates to innovation in medium high and high technology manufacturing industries in Poland. It concerns innovation at the firm lev...

Size, productivity, and international banking

NARCIS (Netherlands)

Buch, Claudia M.; Koch, Catherine T.; Koetter, Michael

Heterogeneity in size and productivity is central to models that explain which manufacturing firms expert. This study presents descriptive evidence on similar heterogeneity among international banks as financial services providers. A novel and detailed bank-level data set reveals the volume and mode

Case Study Analysing Potentials to Improve Material Efficiency in Manufacturing Supply Chains, Considering Circular Economy Aspects

Directory of Open Access Journals (Sweden)

Anja T. Braun

2018-03-01

Full Text Available In order to decouple economic growth from global material consumption it is necessary to implement material efficiency strategies at the level of single enterprises and their supply chains, and to implement circular economy aspects. Manufacturing firms face multiple implementation challenges like cost limitations, competition, innovation and stakeholder pressure, and supplier and customer relationships, among others. Taking as an example a case of a medium-sized manufacturing company, opportunities to realise material efficiency improvements within the company borders—on the supply chain and by using circular economy measures—are assessed. Deterministic calculations and simulations, performed for the supply chain of this company, show that measures to increase material efficiency in the supply chain are important. However, they need to be complemented by efforts to return waste and used products to the economic cycle, which requires rethinking the traditional linear economic system.

Current status and future prospects of research and development operations in traditional and complementary and alternative medicine manufacturing small- and medium-sized enterprises: a 2014 company-based survey

Directory of Open Access Journals (Sweden)

Miyoung Ahn

2017-12-01

Full Text Available Background: Small- and medium-sized enterprises (SMEs have played key roles in the economic growth and technical innovation of traditional and complementary and alternative medicine (T&CM. Research and development (R&D are critical activities for industrial progress. This study aimed to characterize the current status of SME R&D activities and to explore manufacturers’ perceptions of R&D expansion. Methods: Records of the distribution of T&CM SMEs and R&D resources detailed in the 2014 Statistics of Korea T&CM Industries survey, a previously conducted survey on the industrial status of the T&CM field, were reviewed. Data on the perceptions of R&D activities were investigated through a company-based survey covering 285 T&CM-manufacturing SMEs. Results: Greater than 99% of the 13,636 T&CM manufacturers at the time of the study were SMEs employing less than 50 workers. Natural cosmetics manufacturing SMEs (NC SMEs had the highest R&D expenditures. NC SMEs rely heavily on internal R&D operations, which may contribute to their strong need for R&D collaboration with public research institutions and expanded T&CM-promoted R&D programs. “Digestive system disorders” are the main target diseases for current herbal and dietary supplement manufacturing SMEs and herbal medicine manufacturing SMEs. These SMEs tend to view their own product-related business as a priority for future R&D investment. Conclusion: This study represents the first attempt to assess SME perceptions of R&D activities. The findings herein can inform the design of sustainable programs that support R&D by reducing the gaps between the perspectives of T&CM product makers and policymakers. Keywords: R&D, SME, South Korea, survey, T&CM

Does internationalization foster firm performance?

NARCIS (Netherlands)

van den Berg, Marcel

2014-01-01

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

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

OpenAIRE

YAMAMOTO Isamu; MATSUURA Toshiyuki

2012-01-01

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

E-commerce between a large firm and a SME supplier: a screening model

OpenAIRE

Veronica, Alderete Maria

2009-01-01

This paper derives a model of screening contracts in the presence of positive network effects when building an electronic commerce network (e-commerce) between a large firm and a small and medium sized enterprise (SME) supplier based on Compte (2008). Compte (2008) main insight is that when several potential candidates compete for the task, the principal will in general improve the performance of his firm by inducing the member candidates to assess their competence before signing the contract...

Investigating the Supply Chain Strategies and Information System Strategies Alignment and its Effects on Supply Chain Management Performance (Case Study: Manufacturing Firms in Khuzestan Province, Iran

Directory of Open Access Journals (Sweden)

Belghis Bavarsad

2016-12-01

Full Text Available The purpose of the present study is to investigate the supply chain strategies and information system strategies alignment and the impact of these two strategies on supply chain management performance of manufacturing firms in Khuzestan province. The population of this applied research consisted of 1716 manufacturing firms and with using Cochran's formula for limited society, 231 firms were selected. Statistical unit of society were the purchasing / logistic managers of said firms and research questionnaire was distributed to them for each firm. The data collection instrument is Qrunfleh (2010 questionnaire, which its content validity was evaluated through experts and academics and its construct validity was confirmed through confirmatory factor analysis. Structural equation models and SPSS 22 have been used in order to analysis the data. The results showed that, all components of supply chain strategies (lean, agile and hybrid have a positive and significant impact on supply chain management performance and the moderate role of Information system strategies (efficient, flexible and comprehensive on supply chain management Performance also conformed.

Dialogue for emergent order : an empirical study of the development of the organisational mind in a Dutch manufacturing firm

NARCIS (Netherlands)

Eijnatten, van F.M.; Dijkstra, L.; van Galen, M.C.; Boiset, M.

2001-01-01

This paper contains an empirical study about the introduction of dialogue as a new mode of communication in a Dutch capital-equipment manufacturing firm. The goal of the project is to increase levels of self-organisation, self-reference, and self-transcendence in the company. Over a period of one

Potential growth and opportunities for Kenyan small sized firms online : E-business adoption for small boutiques and the new customer online

OpenAIRE

Mbare, Candy

2016-01-01

The purpose of this thesis is to identify the online growth opportunities for the small sized firm in Kenya. Kenya is the most developed nation in East-Africa. E-commerce is a rapidly rising trend in developing nations, that provides small sized firms with growth opportunities. The e-commerce trend also comes with changes in consumer behavior. Sufficient use of e-commerce by small sized firms in Kenya, can open a opportunity to reach a wider range of audience and increase profits by expan...

Sampling Plans for Monitoring Quality Control Process at a Plastic ...

African Journals Online (AJOL)

This paper explores the problem of high quality cost at a medium –sized firm manufacturing various types and sizes of plastic container, using a real life data. In pursuance of their quality objectives, the company established a policy that dictates and expensive and time-consuming post-manufacturing process. While the ...

Factors influencing the technology upgrading and catch-up of Chinese wind turbine manufacturers: Technology acquisition mechanisms and government policies

International Nuclear Information System (INIS)

Qiu, Yueming; Ortolano, Leonard; David Wang, Yi

2013-01-01

This paper uses firm level data for the Chinese wind turbine manufacturing industry from 1998 to 2009 to quantify the effects of technology acquisition mechanisms – purchasing production licenses from foreign manufacturers, joint design with foreign design firms, joint-ventures and domestic R and D – on wind turbine manufacturers' technology levels (as measured by turbine size, in megawatts). It also examines the impacts of government policies on manufacturer technology levels. Technology upgrading (measured by increase of turbine size) and catch-up (measured by decrease in the distance to the world technology frontier in terms of turbine size) are used to measure advances in technology level. Results from econometric modeling studies indicate that firms' technology acquisition mechanisms and degree of business diversification are statistically significant factors in influencing technology upgrading. Similar results were found for the catch-up variable (i.e., distance to the world technology frontier). The influence of government policies is significant for technology upgrading but not catch-up. These and other modeling results are shown to have implications for both policymakers and wind turbine manufacturers. - Highlights: ► Technology acquired through joint design has the highest level. ► Technology acquired through purchasing production license has the lowest level. ► Technology acquired through domestic R and D has the level in between. ► A firm with related other businesses tends to have a higher level of technology. ► The influence of policies is significant for technology upgrade but not catch-up

Eco-Efficiency Actions and Firm Growth in European SMEs

Directory of Open Access Journals (Sweden)

Elisenda Jové-Llopis

2018-01-01

Full Text Available This study investigates the effects of eco-efficiency actions on firm performance in terms of sales growth in an extensive sample of 11,336 small- and medium-sized enterprises (SMEs located in 28 European countries. Our empirical results suggest that not all eco-strategies are positively related to better performance, at least not in the short term. We found that European companies using renewable energies, and recycling or designing products that are easier to maintain, repair, or reuse, perform better. Those that aim to reduce water or energy pollution, however, seemed to show a negative correlation to firm growth. Our results also indicate that high investment in eco-strategies improves firm growth, particularly in new members that joined the EU from 2004 onwards. Finally, we observed a U-shaped relationship between eco-strategies and firm growth, which indicates that a greater breadth of eco-strategies is associated with better firm performance. However, few European SMEs are able to either invest heavily or undertake multiple eco-strategies, thus leaving room for policy interventions.

Debt and taxes for private firms

DEFF Research Database (Denmark)

Bartholdy, Jan; Mateus, Cèsario

2011-01-01

This paper tests for "pecking order" financing of small and medium size firms. The main sources and "pecking order" of financing for SMEs are equity (internally generated cash), trade credit paid on time, credit provided by institutions such as banks and leasing companies, other sources of debt...... and delayed payment on trade credit. The "pecking order" of financing is driven by the costs of asymmetric information (cost of gathering and analysing information) and financial distress costs. Empirical tests do not confirm that SMEs follow a pecking order....

Integrated Foreign Exchange Risk Management: The Role of Import in Medium-Sized, Manufacturing Firms

DEFF Research Database (Denmark)

Aabo, Tom; Høg, Esben; Kuhn, Jochen

2010-01-01

Empirical research has focused on export as a proxy for exchange rate exposure and the use of foreign exchange derivatives as an instrument to deal with this exposure. This empirical study applies an integrated foreign exchange risk management approach with a particular focus on the role of impor...

The Influence Of Profitability, Firm Size, Productivity And Reputation Of The Auditor On The Rating Of Sukuk

Directory of Open Access Journals (Sweden)

Galih Estu Pranoto

2017-07-01

Full Text Available The purpose of this research is to find out the effect between the profitability, firm size, productivity, and auditor reputation toward rating sukuk. Rating sukuk is the dependent variables in this research were measured by scoring technique based on Pefindo’s rating. For the independent variables in this research, using profitability were measured by return of equity ratio, firm size were measured by natural logarithm of total asset, productivity were measured by comparison sales with employees, auditor reputation using dummy method. This research using secondary data which is non bank companies from Indonesian Stock Exchange Listed Company and rated by Pefindo in 2009-2013. While the sampling method used was purposive method which is overall 35 sample choose. This research uses logistic ordinal regression to test the hypothesis with SPSS computer program. The research result show that produktivity and auditor reputation partially have a significant negative influence toward rating sukuk, while profitability and firm size have no significant influence toward rating sukuk.

The Internationalisation of Service Firms

DEFF Research Database (Denmark)

Blagoeva, Denitsa Hazarbassanova

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

How Firms Make Boundary Decisions

DEFF Research Database (Denmark)

Dobrajska, Magdalena; Billinger, Stephan; Becker, Markus

2014-01-01

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

Size effects in manufacturing of metallic components

DEFF Research Database (Denmark)

Vollertsen, F; Biermann, D; Hansen, Hans Nørgaard

2009-01-01

In manufacturing of metallic components, the size of the part plays an important role for the process behaviour. This is due to so called size effects, which lead to changes in the process behaviour even if the relationship between the main geometrical features is kept constant. The aim...... of this paper is to give a systematic review on Such effects and their potential use or remedy. First, the typology of size effects will be explained, followed by a description of size effects on strength and tribology. The last three sections describe size effects on formability, forming processes and cutting...... processes. (C) 2009 CIRP....

Urban agglomerations and transformations of medium-sized towns in Poland

Directory of Open Access Journals (Sweden)

Runge Anna

2016-09-01

Full Text Available This analysis investigates medium-sized towns in Poland, i.e. those with a population between 20–100 thousand, located up to 100 km away from the main city of the agglomeration. The aim of this article is to compare the level of socio-economic development of Polish towns depending on their location in relation to the main city in the largest agglomerations in 1998 and 2013. Three zones of distance from the main city of each agglomeration have been taken into consideration: a. the inner zone, reaching up to 25 km from the main city; b. the outer zone located at a distance of 25 to 50 km from the main city, and c. the peripheral zone, located at a distance of 50 to 100 km from the main city and including the medium-size towns located outside the agglomeration system. This analysis of the distribution of medium-sized towns and their level of socio-economic development has shown various levels of changes which depend on the distance from the main city of the agglomeration. In 1998, the highest level of development of the medium-sized towns was recorded in towns outside of these agglomeration systems, i.e. those located most remotely from the main city (peripheral zone. Most of the medium-sized towns are situated at a distance of 50–100 km from Warszawa, Kraków, Łódź, Lublin, Gdańsk and have developed their own local, or even regional labour markets and some of them have even provided administrative functions in the past as voivodeship capitals. Only in the Poznań agglomeration, the level of development of medium-sized towns was higher in the immediate surroundings of the main city (25 km. The medium-sized towns in all zones of the distance from the main city in the Wrocław agglomeration represented a similar level of development. By 2013, the level of development of the medium-sized towns in the peripheral zone in all investigated settlement systems had decreased, with a significant improvement in the level of development of the towns in

“Cooperation in R&D, firm size and type of partnership: Evidence for the Spanish automotive industry”

OpenAIRE

Erika Raquel Badillo; Francisco Llorente; Rosina Moreno

2014-01-01

This paper aims to analyse cooperation in R&D in the automobile industry in Spain. It first examines to what extent firms cooperate with external actors in the field of technological innovation, and if so, with what type of cooperation partner, paying special attention to the differentiation according to the size of the firms. Second, it aims to study how the firm’s size may affect not only the decision of cooperating but also with which type of partner, while controlling for other determina...

Founder Family Influence and Foreign Exchange Risk Management

DEFF Research Database (Denmark)

Aabo, Tom; Kuhn, Jochen; Zanotti, Giovanni

2011-01-01

Purpose    The purpose of this study is to explore the influence of founder families in medium-sized, manufacturing firms and to investigate the impact of such influence on risk management - more specifically foreign exchange hedging and speculation. Design/methodology/approach This empirical study...... in the management team, are members of the board of directors, and/or are shareholders of the firm. We find no difference between such founder family firms and other firms in terms of the use / non-use decision related to foreign exchange derivatives but a marked difference in terms of the extent decision. Thus...... in medium-sized firms (as opposed to large, listed firms in most other studies) and adds to the sparse literature on the impact of founder family influence on risk management.  ...

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

OpenAIRE

Canbäck, Staffan

2002-01-01

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

Wages and Labor Management in African Manufacturing

Science.gov (United States)

Fafchamps, Marcel; Soderbom, Mans

2006-01-01

Using matched employer-employee data from ten African countries, we examine the relationship between wages, worker supervision, and labor productivity in manufacturing. Wages increase with firm size for both production workers and supervisors. We develop a two-tier model of supervision that can account for this stylized fact and we fit the…

"The Strategic Effects of Firm Sizes and Dynamic Capabilities on Overseas Operations: A Case-based Comparison of Toyota and Mitsubishi in Thailand and Australia"

OpenAIRE

Takahiro Fujimoto; Shinya Orihashi

2002-01-01

In international business, much attention has been directed to the international expansion of firms based on their use of resources and competitive capabilities that have been built up in a home country to create a competitive advantage over host-country firms. More recently, the organizational capabilities and competitive advantages of Japanese manufacturing firms in general (in autos, electronics, etc.) have been analyzed as important factors in the establishment of overseas transplants. Th...

Market Imperfections and Firm-Sponsored Training

NARCIS (Netherlands)

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

2010-01-01

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

Bank Size and Small- and Medium-sized Enterprise (SME) Lending: Evidence from China

Science.gov (United States)

SHEN, YAN; SHEN, MINGGAO; XU, ZHONG; BAI, YING

2014-01-01

Summary Using panel data collected in 2005, we evaluate how bank size, discretion over credit, incentive schemes, competition, and the institutional environment affect lending to small- and medium-sized enterprises in China. We deal with the endogeneity problem using instrumental variables, and a reduced-form approach is also applied to allow for weak instruments in estimation. We find that total bank asset is an insignificant factor for banks’ decision on small- and medium-enterprise (SME) lending, but more local lending authority, more competition, carefully designed incentive schemes, and stronger law enforcement encourage commercial banks to lend to SMEs. PMID:26052179

Bank Size and Small- and Medium-sized Enterprise (SME) Lending: Evidence from China.

Science.gov (United States)

Shen, Yan; Shen, Minggao; Xu, Zhong; Bai, Ying

2009-04-01

Using panel data collected in 2005, we evaluate how bank size, discretion over credit, incentive schemes, competition, and the institutional environment affect lending to small- and medium-sized enterprises in China. We deal with the endogeneity problem using instrumental variables, and a reduced-form approach is also applied to allow for weak instruments in estimation. We find that total bank asset is an insignificant factor for banks' decision on small- and medium-enterprise (SME) lending, but more local lending authority, more competition, carefully designed incentive schemes, and stronger law enforcement encourage commercial banks to lend to SMEs.

In Search of Legal Foundation for Indonesian Family Firms

Directory of Open Access Journals (Sweden)

Yetty Komalasari Dewi

2016-08-01

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

Manufacture of conical springs with elastic medium technology improvement

Science.gov (United States)

Kurguzov, S. A.; Mikhailova, U. V.; Kalugina, O. B.

2018-01-01

This article considers the manufacturing technology improvement by using an elastic medium in the stamping tool forming space to improve the conical springs performance characteristics and reduce the costs of their production. Estimation technique of disk spring operational properties is developed by mathematical modeling of the compression process during the operation of a spring. A technique for optimizing the design parameters of a conical spring is developed, which ensures a minimum voltage value when operated in the edge of the spring opening.

Going, Going, Gone. Innovation and Exit in Manufacturing Firms

NARCIS (Netherlands)

E. Cefis (Elena); O. Marsili (Orietta)

2007-01-01

textabstractThis paper examines the effect of innovation on the risk of exit of a firm, distinguishing between different modes of exits. Innovation represents a resource and a capability that helps a firm to build competitive advantage and remain in the market. At the same time, the resources and

METHODS OF FINDING BUSINESS PARTNERS OF MANUFACTURING FIRMS IN JAPAN

Directory of Open Access Journals (Sweden)

Nobuhiro Takahashi

2017-09-01

Full Text Available This paper addresses new methods of finding business partners for joint development in Japan. These methods create opportunities for a manufacturing firm, which has excellent technology, to find an appropriate business partner. We call these methods the Osaka model. In the model, a company finds a business partner among plenty of companies, while they establish mutual trust and solve higher levels of technological difficulties. The model shares strong points of both spot transaction and conventional co-development. In other words, this model takes advantages of both Western style and Japanese style inter-business relationship. This paper also argues the environment for encouraging the model. The area should be a place where you can obtain many sources of information. Increasing meetings or facilities on specific themes is an effective method to encourage the model in the area. In addition, a database with which each technological seed has been already arranged with their technological needs is beneficial for matching them. If such a database becomes a shared knowledge in the area, the model would be promoted.

The Effect of Board Size and Board Composition on Firms Corporate Environmental Disclosure: A Study of Selected Firms in Nigeria

Directory of Open Access Journals (Sweden)

Uwalomwa Nil Uwuigbe

2011-10-01

Full Text Available Environmental problems have become major headlines due to the negative effects they bring to the stability of the ecosystem. Thus, the increased awareness of social responsibility or, specifically, environmental concern is now a challenge facing the corporate world. Hence this study tests whether board size and board composition have any association with the level of firms’ corporate environmental disclosure in annual reports. To achieve the objective of this study, a total of 40 listed firms on the floor of the Nigerian stock exchange market were used. Also, the study critically developed and utilized the Kinder Lydenberg Domini (KLD rating scheme to analyze the level of corporate environmental disclosure made by firms in their annual reports for the period 2006-2010. In addition, the simple regression analysis was used to test the research propositions as stated in the study. However, empirical findings from the study reveal that while board size has a significant negative relationship with the level of corporate environmental disclosure; board composition on the other hand has a significant positive relationship with the level of firms’ corporate environmental disclosure in the annual report.

La competitività delle imprse manufatturiere statunitensi. (The competitive position of U.S. manufacturing firms

Directory of Open Access Journals (Sweden)

R.E. LIPSEY

2013-12-01

Full Text Available Con l'alto valore costante del dollaro recentemente siè verificata la  preoccupazione per l' impatto a lungo termine sulla competitività dei produttori statunitensi. Questo studio distingue tra la competitività delle imprese statunitensi ed i vantaggi degli Stati Uniti come una base di produzione . Si è constatato che , anche se la quota statunitense del commercio mondiale è diminuita a partire dai primi anni 1970, la quota detenuta da imprese americane, al contrario di imprese che producono negli Stati Uniti, è aumentato. Si sostiene che le multinazionali statunitensi hanno superato il calo del vantaggio comparativo degli Stati Uniti come base di produzione spostando all'estero.With the continuing high value of the dollar there has recently been concern over the long-term impact on the competitiveness of US manufacturers. This study distinguishes between the competitiveness of US firms and the advantages of the United States as a production base. It is found that, although the US share of world trade has declined since the early 1970s, the share held by US firms, as opposed to firms producing in the United States, has increased. It is argued that US multinationals have overcome the decline in the comparative advantage of the United States as a production base by moving abroad.JEL: F23, L60

The Birth, Death and Persistence of Firms: Creative Destruction and the Spatial Distribution of U.S. Manufacturing Establishments, 2000–2006

NARCIS (Netherlands)

Brown, J.P.; Lambert, D.M.; Florax, R.J.G.M.

2013-01-01

This article deals with the dynamics of the U.S. manufacturing sector, analyzing the birth, death, and ongoing existence of firms in the beginning of the twenty-first century. Schumpeter's notion of creative destruction is hypothesized to explain the spatiotemporal dynamics of the distribution of

The role of outsourcing in Lean Manufacturing

DEFF Research Database (Denmark)

Bjarnø, Ole-Christian

2003-01-01

In this article a longitudinal study performed at a medium-sized producer of electronics is reported during which we studied the company’s manufacturing change process. Based on theories of outsourcing, reengineering and explorative case research a series of findings is identified which demonstra......In this article a longitudinal study performed at a medium-sized producer of electronics is reported during which we studied the company’s manufacturing change process. Based on theories of outsourcing, reengineering and explorative case research a series of findings is identified which...... degree of complexity by introducing many new product lines, without phasing out very many of the old products could be changed into a far less complex organisation through reengineering and outsourcing. This again opened up for the application of the tool kit in Lean Manufacturing, and through...

Determinants of Supply and Demand for Trade Credit by Micro, Small and Medium-Sized Enterprises

Directory of Open Access Journals (Sweden)

Claudinê Jordão de Carvalho

2015-08-01

Full Text Available This article investigates the determinant factors of supply and demand for trade credit by micro, small and medium-sized enterprises (MSMEs, using data collected in a survey of managers from 481 firms in 32 cities in the states of São Paulo and Minas Gerais (Brazil between 2008 and 2010. The multivariate relationship model proposed here is grounded in trade credit, agency and transaction costs theories. This study is based on a technique known as path analysis that uses a system of simple regressions estimated by simultaneous equations. The main results show the following: (i trade credit and short-term bank loans are supplementary (and not substitute sources of funds for MSMEs, which demonstrates that trade credit can be used by financial institutions as an indicator of the creditworthiness of the company; (ii the proportion of credit sales, the days sales outstanding measure and sales growth are positively related to the amount of trade credit demanded, which suggests that trade credit is transferred along the supply chain; and (iii the supply of trade credit is positively related to the importance that management ascribes to both internal capital and bank credit, which illustrates the strategic use of the supply of trade credit to increase sales. These results have important implications for companies' managers, financial institutions and the government agencies responsible for formulating policies that support and promote the development of small and medium-sized enterprises.

Decomposing Firm-level Sales Variation

DEFF Research Database (Denmark)

Munch, Jakob Roland; Nguyen, Daniel Xuyen

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

Mid-sized manufacturing companies the new driver of Italian competitiveness

CERN Document Server

Resciniti, Riccardo; Tunisini, Annalisa; Varaldo, Riccardo

2013-01-01

The structure of Italian industry is characterized by a predominance of small sized companies and the presence of very few large companies. For a long time a conviction was shared among scholars and practitioners that the strength and safety of Italian industry were based on its industrial districts, that is, the system of interdependent and co-localized small companies which derive their competitive force from an effective and efficient division of labour. This book stresses the idea that a new, vital and promising phenomenon for the competitiveness of Italian industry is focused on mid-sized companies, and the systems of interconnected firms that form a constituent part of their business model. These companies, which originate largely from districts and other local production systems, are a strong entrepreneurial force complementing the districts that have characterized Italy and made Italian industry famous worldwide. A quantitative and qualitative analysis of these firms is provided in this book. Business...

THE CAPITAL STRUCTURE OF VENTURE CAPITAL FIRMS IN INDONESIA

Directory of Open Access Journals (Sweden)

Andi Buchari

2016-10-01

Full Text Available Venture capital (VC is an important fund source for small and medium enterprises (SMEs and start up, particularly to deliver its main product of equity participation. Therefore, capital structure and factors that affect it are very crucial. This study aims to analyze the capital structure of VC firms in Indonesia using econometric model of panel data regression. This study utilizes secondary data of six years period (2009-2014 monthly financial statements of 27 samples out of 58 VC firms to form 1,944 observations. The study reveals that capital structure of VC firms in Indonesia is dominated by debt/loan rather than capital with DER on average is 136.95%. In addition, the research confirms that VC firms’ capital structure is affected simultaneously by financial aspects which are asset size, profitability, liquidity, asset/investment quality, and earning asset structure. The attentions to financial aspects that affect the VC firms’ capital structure as well as other initiatives related to capital increases are necessary so that the VC firms could carry out its role effectively.

GOVERNMENT SUPPORT FOR SMALL AND MEDIUM-SIZED BUSINESS AND INNOVATIVE ACTIVITIES

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Pоlina Kolisnichenko

2017-09-01

Full Text Available The purpose of the paper is to reveal the conditions of the innovative development of the small and mediumsized entrepreneurship in Ukraine; the problems that suppress the innovative activity and small and medium-sized enterprises development; peculiarities of the tax incentives for the development of the entrepreneurship in the advanced countries and in Ukraine; the main kinds and characteristics of the small and medium-sized enterprises public support. Methodology. The methods of scientific research include: analysis and generalization for studying the main kinds and characteristics of the government support of the small and medium-sized enterprises; dynamic and comparative analysis for studying the problems and factors influencing the development of small and medium enterprises and innovative activity, peculiarities of tax incentives for business development; systemanalytical method for studying the conditions of the innovative development of the small and medium-sized entrepreneurship. Results. The government's financial support priorities should be: optimal application of the fiscal regulation instruments (reduction of the amount of taxes, determination of the criteria for the maximum taxation amount, tax incentives etc., maintenance of the self-investment of small and medium-sized enterprises as well as investment, financial means of the public influence over the development of the enterprises, effective combination of both direct and indirect forms of the innovative development support. Practical implications. The obtained results can be used in the process of formation and implementation of the small and medium enterprise sector development strategy and innovative activity in the long-term perspective. Value/originality. The obtained data can provide a better understanding of the direction of innovative business development in Ukraine.

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...

New workplace practices and firm performance:

DEFF Research Database (Denmark)

Cristini, Annalisa; Pozzoli, Dario

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

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

To work in a medium-size enterprise in the nuclear sector

International Nuclear Information System (INIS)

Le Ngoc, B.

2017-01-01

The French nuclear industry is made up of 2500 enterprises of any size from family businesses to large groups via medium-sized enterprises and start-ups. Most small and medium-sized enterprises have difficulties to recruit qualified people whereas their order books are full. These difficulties originate from the fact that these enterprises are less known than EDF, AREVA and CEA and as a consequence less chosen by job applicants. There is another point, the image of the industry has progressively deteriorated and the idea of working in an industrial sector is no more very exciting. The last point is that nuclear industry's future may appear less clear because of the government's policy of reducing the nuclear share in power production through the early decommissioning of reactors. 3 medium-size enterprises of the nuclear sector: Assystem, REEL and Onet Technologies consider to recruit a total of about 800 people per year and give 4 reasons to join a medium-sized company: 1) a faster professional career, more diverse activities in the job, closer managing executives and a dynamic and stimulating workplace. (A.C.)

[Application of health questionnaires for health management in small- and medium-sized enterprises].

Science.gov (United States)

Kishida, K; Saito, M; Hasegawa, T; Aoki, S; Suzuki, S

1986-01-01

Two kinds of health questionnaires, the Todai Health Index (THI) and Cumulative Fatigue Index (CFI), were applied as a screening device for health management of workers belonging to small-medium sized enterprises. A total of 495 workers composed of 452 male workers of a glass-bottle manufacturing factory and 43 male workers of a soft-drink bottling factory were the subjects of the present study. It was found that the two kinds of health questionnaires were different from each other and have their own characteristics. Twelve scales of THI were grouped into two, the first consisting of ten scales (SUSY, RESP, EYSK, MOUT, DIGE, IMPU, MENT, DEPR, NERV, and LIFE) and the second consisting of two scales (AGGR and LISC). Nine categories of CFI were grouped into one by using principal factor analysis. It was confirmed that the twelve scale scores of THI obtained at small-medium sized factories differed from those scale scores of a reference group investigated at a large-sized enterprise. It is on the basis of the scales of aggressiveness and lies and also of the scale of mental unstability which characterizes workers, locality, job (clerical or field work), and size of industry (large or small sized) that the difference could be evaluated. Urban life characterized by a life style of staying up late at night and waking up late in the morning has been reflected on the scale of life irregularity. Irregularity of life induced by transformation of working schedule, such as two or three shifts of work and overtime, was also reflected on this scale. Two scales of THI test, i.e., many subjective symptoms and digestive organ complaints, seemed to be the representative scales indicating a close relation between work load and health level. The discriminant score for diagnosis of psychosomatic diseases is considered to be one of the most useful assessments of the individual's health condition. As mentioned above, THI is recommended as a convenient assessment method for health

Efficiency optimized control of medium-size induction motor drives

DEFF Research Database (Denmark)

Abrahamsen, F.; Blaabjerg, Frede; Pedersen, John Kim

2000-01-01

The efficiency of a variable speed induction motor drive can be optimized by adaption of the motor flux level to the load torque. In small drives (<10 kW) this can be done without considering the relatively small converter losses, but for medium-size drives (10-1000 kW) the losses can not be disr......The efficiency of a variable speed induction motor drive can be optimized by adaption of the motor flux level to the load torque. In small drives (... not be disregarded without further analysis. The importance of the converter losses on efficiency optimization in medium-size drives is analyzed in this paper. Based on the experiments with a 90 kW drive it is found that it is not critical if the converter losses are neglected in the control, except...... that the robustness towards load disturbances may unnecessarily be reduced. Both displacement power factor and model-based efficiency optimizing control methods perform well in medium-size drives. The last strategy is also tested on a 22 kW drive with good results....

Quantitative marketing research on behavior of the small and medium companies on financial advisory services

Directory of Open Access Journals (Sweden)

Duguleana, L.

2013-12-01

Full Text Available This paper presents the results of quantitative marketing research conducted among small and medium enterprises in Braşov County. The research identified organizational elements of the consumer behavior in the use of the financial advisory services. The objective is to determine whether there is association between firm size and the number of financial advice services outsourced. Results of the study will be based construction of the price policy for financial advisory firms, tailored to the financial constraints faced by small and medium enterprises in Romania.

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,

Management of small and medium size enterprises as a carrier of economic growth

Directory of Open Access Journals (Sweden)

Ožegović Lazar

2012-01-01

Full Text Available Numerous studies in the world of market economy show that the share of small and medium size enterprises is constantly increasing compared to large enterprises. This does not decrease the significance of large enterprises, but the dependence between them gets larger every day. National economies which manage to find the optimal combination between small, medium size and large enterprises are more successful than the others. Management of small and medium size enterprises (SMEs in conceptual terms is similar to the process of management of large enterprises. An organization must be managed in order to function and this rule applies to small and medium size enterprises.

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

PENGARUH LABA BERSIH, ARUS KAS OPERASIONAL, INVESTMENT OPPORTUNITY SET DAN FIRM SIZE TERHADAP DIVIDEN KAS (Studi Kasus Pada Perusahaan Manufaktur di Bursa Efek Indonesia Tahun 2010 – 2012

Directory of Open Access Journals (Sweden)

Luluk Muhimatul Ifada

2014-12-01

Full Text Available This study aimed to investigate the influence of net profit, operating cash flow, investment opportunity set, and firm size on cash dividend. The sample of this research is manufacturing companies list on Indonesia Stock Exchange (BEI in period 2010-2012 published by www.idx.co.idand posted at Indonesia Capital Market Directory (ICMD. There are 28 acquired companies that meet the criteria specified. The analysis method use multiple regression analysis with level of significance 5%. The conclusion of this research based on  t-statistic result.The result of this research proved that variable net profit have significantly positive influence on cash dividend. Operating cash flow have significantly positive influence on cash dividend. Investment opportunity set hasn’t significantly and have negative correlation influence towards cash dividend. Firm size hasn’t significantly but have positive correlation influence toward cash dividend.Penelitian   ini   bertujuan   untuk   menganalisis   pengaruh   laba   bersih, arus kas operasi, investment opportunity set, dan firm size terhadap dividen kas. Sampel penelitian ini adalah perusahaan manufaktur yang terdaftar di Bursa EfekIndonesia periode tahun 2010-2012. Data yang digunakan adalah laporan keuangan dari masing-masing perusahaan sampel, yang dipublikasikan melalui website www.idx.co.id. dan termuat dalam Indonesia Capital Market Dierctory (ICMD. Data yang memenuhi kriteria penelitian terdapat 28 perusahaan. Penelitian ini menggunakan alat uji statistik dengan pendekatan analisis regresi linier berganda dengan tingkat signifikansi 5%. Kesimpulan pengujian diambil berdasarkan hasil uji t-Statistik. Hasil pengujian ini menunjukkan bahwa pengujian pada variabel laba bersih terhadap dividen kas terbukti berpengaruh positif dan signifikan. Pengujian pada variabel arus kas operasional terhadap dividen kas terbukti berpengaruh positif dan signifikan.Pengujian pada variabel investment

The Hidden Work of Women in Small Family Firms in Southern Spain

Directory of Open Access Journals (Sweden)

Paula Rodríguez-Modroño

2017-01-01

Full Text Available Women have historically played an important hidden role in family firms, and a great deal of research is now shedding light on this role. In spite of the more formal nature of female work at the present day, still a considerable volume of women’s contributions in family firms is unregistered and unpaid, even in developed regions. A questionnaire was administered to 396 women working in small and medium-sized family firms located in Andalucia, a southern European region, characterized by familialism and an important informal economy. Our results confirm the persistence of subordinate forms of unpaid family collaboration due to the neutrality assigned to female contributions under the traditional gendered division of work. But also this study shows how some of the women voluntarily embrace subordinate roles as a temporary way to gain professional experience, useful for their future work inside or outside the family firm.

Relationship Between Market Orientation and Business Performance in Czech and German High-Tech Firms

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Patrik Jangl

2015-12-01

Full Text Available The main goal of this paper is to find out an index of market orientation, and explore the relationship between four components of market orientation in high-tech firms and their business performance. Business performance was studied as a one-dimensional construct. Market orientation in this study is defined as a process of intelligence generation about customers and competitors, intelligence dissemination and integration within the company across teams, and responsiveness to market intelligence in the form of coordinated action. The statistical sample was represented by 164 Czech and 187 German high-tech firms in the manufacturing industry. Respondents (sales and marketing managers completed a questionnaire and marked their rate of approval with individual statements on a Likert scale ranging from 1 to 7. Market orientation and business performance level was determined as the arithmetic mean (x̄ of the measured values. Depending on the size of the total market orientation index (MOI, Czech (x̄=5.2 and German (x̄=5.14 high-tech firms are medium market-oriented. The business performance index (BPI reached a slightly higher value in Germany (x̄=5.22 as compared to the Czech Republic (x̄=5.13. The main method to reach the target was correlation and regression analysis. This study confirmed a hypothesis about the existence of a correlation between components of market orientation and business performance. Three of the four relationships in the multiple regression model were significant. On the other hand, the study found no positive significant correlation between competitor intelligence generation and business performance.

Electronic business model for small- and medium-sized manufacturing enterprises (SME): a case study

Science.gov (United States)

Yuen, Karina; Chung, Walter W.

2001-10-01

This paper identifies three essential factors (information infrastructure, executive information system and a new manufacturing paradigm) that are used to support the development of a new business model for competitiveness. They facilitate changes in organization structure in support of business transformation. A SME can source a good manufacturing practice using a model of academic-university collaboration to gain competitive advantage in the e-business world. The collaboration facilitates the change agents to use information systems development as a vehicle to increase the capability of executives in using information and knowledge management to gain higher responsiveness and customer satisfaction. The case company is used to illustrate the application of a web-based executive information system to interface internal communications with external operation. It explains where a good manufacturing practice may be re-applied by other SMEs to acquire skills as a learning organization grows in an extended enterprise setting.

Dynamic Capabilities and Firm Performance: A Case of Two SMEs in Pakistan

Directory of Open Access Journals (Sweden)

Qazi Muhammad Moinuddin Abro

2011-07-01

Full Text Available This paper investigates the inter-relationship among entrepreneurship, dynamic capabilities and innovation. Entrepreneur\\'s foresights and insights of ICT (Information and Communication Technologies tend to affect their choices of resources and development of dynamic capabilities, leading to different results of innovation. Based on the literature of business innovation and dynamic capabilities, this paper provides a model addressing the links between leadership, with insights and foresights for technology exploration and exploitation, and organizational capabilities of resource integration, learning and transformation to accelerate innovation. A comparative analysis of the two textile manufacturers in Pakistan revealed a cyclical process between the leadership decisions and dynamic capabilities of leveraging ICT for sustained competitiveness in these two SMEs (Small and Medium Sized Enterprises. The result suggests that to build strong capabilities for continuous innovation in today\\'s dynamic business environment, firms need to have leadership with both the attitude and behavior of entrepreneurship, combining the foresight to capture opportunities through ICT and the insight to guide and manage internal resources to achieve ICT-enabled innovation.

The social effectiveness of small and medium-sized entities standard from the view point of Game Theory

Directory of Open Access Journals (Sweden)

Alexandre Gonzales

2013-05-01

Full Text Available Accounting has been undergoing significant changes, and among these changes is the creation of a standard for the accounting of small and medium enterprises, in line with international accounting standards for companies of this size. This rule arose from the development of a pronouncement by the Accounting Pronouncements Committee – CPC, which subsequently was approved by the Federal Accounting Council - CFC through specific resolutions. The present study aimed to analyze trends of accounting professionals and business managers concerning the adoption of Technical Pronouncement emitted by Accounting Pronouncements Committee for Small and Medium Enterprises. Considering the level of complexity of the operations performed by companies of this size, the lack of oversight by specific entities and the question of enforcement of these pronouncements, it was used the game theory to determine possible strategies adopted by the accountants and business managers regarding to the effective adoption of pronouncement for SMEs. The study was characterized as a descriptive research, using bibliographical and field research. With the use of surveys sought to identify the perceptions of accounting professionals regarding the adoption of the pronouncement. It was found that this statement constitutes a valid legal standard, endowed with legal effectiveness and technical efficiency, but lacking social effectiveness, due to the low level of efforts for its adoption, both by accounting professionals and by firms.

Small and medium-sized nuclear power plants

International Nuclear Information System (INIS)

Schmidt, R.

1986-01-01

Small and medium-sized nuclear power plants have long been under discussion as possible applications of nuclear power in countries with small transmission grid systems, in threshold countries and developing countries, and under special local supply conditions. IAEA has condensed and promoted this interest and tried to establish the demand, and possibilities of meeting it, in special events and campaigns. In recent years, considerable interest was registered even in industrialized countries, but here specially for heating and process heat generation applications and for special purposes and, in medium-sized units, also for combined supplies of electricity and heat. This corresponds to special reactor and plant concepts, some of which have already been developed to a stage at which construction work could begin. The analysis presented deals with necessary preconditions on the sides of the users and the vendors, with problems of economy, infrastructure and financing and with the market prospects of small nuclear power plants. (orig./HP) [de

"The Strategic Effects of Firm Sizes and Dynamic Capabilities on Overseas Operations: A Case-based Comparison of Toyota and Mitsubishi in Thailand and Australia" (in Japanese)

OpenAIRE

Takahiro Fujimoto; Shinya Orihashi

2002-01-01

In international business, much attention has been directed to the international expansion of firms based on their use of resources and competitive capabilities that have been built up in a home country to create a competitive advantage over host-country firms. More recently, the organizational capabilities and competitive advantages of Japanese manufacturing firms in general (in autos, electronics, etc.) have been analyzed as important factors in the establishment of overseas transplants. Th...

Which benefits and limits derive from ESA membership for European Countries owning ;medium-sized; space agencies?

Science.gov (United States)

Petroni, Giorgio; Bigliardi, Barbara; Galati, Francesco; Petroni, Alberto

2018-01-01

This study investigates the benefits and limits deriving from membership with ESA of six medium-sized space agencies in terms of strengthening and development (or not) of space technologies, as well as their contribution to the growth of productive activities and to the increase of services for citizens. This research contributes to the more general issue of the usefulness of space activities, not only for scientific or military-political purposes but also for economic and social development. Results show that, on the one hand, the membership with ESA has allowed smaller Countries to access space programs, to develop advanced technologies and to support the growth of their firms in some significant markets, but, on the other hand, the membership has also limited the access to space to few companies, without encouraging the broad dissemination of technological knowledge.

Beyond size : Predicting engagement in environmental management practices of Dutch SMEs

NARCIS (Netherlands)

Uhlaner, L.M.; Berent-Braun, M.M.; Jeurissen, R.J.M.; Wit, de G.

2012-01-01

This study focuses on the prediction of the engagement of small- and medium-sized enterprises (SMEs) in environmental management practices, based on a random sample of 689 SMEs. The study finds that several endogenous factors, including tangibility of sector, firm size, innovative orientation,

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

Directory of Open Access Journals (Sweden)

Barbara Jankowska

2016-01-01

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

RISK MANAGEMENT IN SMALL AND MEDIUM – SIZED ENTERPRISES: A GENDER-SENSITIVE APPROACH

Directory of Open Access Journals (Sweden)

Iwona Gorzeń-Mitka

2015-12-01

Full Text Available Risk is inherent in all business functions and in every kind of activity. Small and medium-sized enterprises (SMEs are particularly vulnerable to continuously daily internal and external undesirable events that adversely affect business performance. To deal with many risk determinants effectively, SMEs need a systemic method of approach to risk management. One of the factors of company risk management approach is gender of the owners or top executives. Especially from a managerial perspective, the link between risk-taking and gender has been examined through a wide range of approaches, such as entrepreneurial orientation and leadership related literatures. Some researchers point that male SME owners appear to show a greater risk appetite than female SME owners. The leading question in the undertaken research was to determine whether the gender of the firm's owners or top executives are reflected in the approach to risk management. The focal point of the research is identification of differences in risk taking and risk management in Polish SMEs companies from a gender perspective.

Analysis of Factors Affecting Manufacturing Companies in Indonesia Performing a Switching Auditor

Directory of Open Access Journals (Sweden)

Atika Sukma Winata

2017-03-01

Full Text Available This study aims at analyzing the influence of the Public Accountant Firms Size, Size of Company, Financial Distress, Audit Opinion and Management Turnover toward Auditor Switching. The population of this study is a manufacturing company listed on the Indonesia Stock Exchange during the period 2011-2015 consisting of 134 companies. The sample was obtained by purposive sampling technique which resulted in the sample of 26 companies. Methods of data analysis using logistic regression and SPSS 21 using data and other information obtained from Annual Report. Results of this study shows that the Public Accountant Firms Size and Management Turnover have significant impact toward auditor switching, size of company have influence auditor switching. Financial distress and audit opinion did not effect auditor switching significantly. The value of Nagelkerke R Square is 0.283. conclusions of this study is the Public Accountant Firms Size and Management Turnover have significant impact toward auditor switching, size of company have influence auditor switching. Financial distress and audit opinion did not effect auditor switching significantly.

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.

Rapid preparation of ceramic moulds for medium-sized superalloy castings with magnesia-phosphate-bonded bauxite-mullite investments

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Li Tingzhong

2010-11-01

Full Text Available Phosphate-bonded investments have already been widely utilized in dental restoration and micro-casting of artistic products for its outstanding rapid setting and high strength. However, the rapid setting rate of investment slurry has up to now been a barrier to extend the use of such slurry in preparation of medium-sized ceramic moulds. This paper proposes a new process of rapid fabrication of magnesia-phosphate-bonded investment ceramic moulds for medium-sized superalloy castings utilizing bauxite and mullite as refractory aggregates. In order to determine the properties of magnesia-phosphate-bonded bauxite-mullite investments (MPBBMI, a series of experiments were conducted, including modification of the workable time of slurry by liquid(mL/powder(g(L/P ratio and addition of boric acid as retard agent and sodium tri-polyphosphate (STP as strengthening agent, and adjustment of bauxite (g/mullite(g(B/M ratio for mechanical strength. Mechanical vibration was applied to improve initial setting time and fluidity when pouring investment slurry; then an intermediate size ceramic mould for superalloy castings was manufactured by means of this rapid preparing process with MPBBMI material. The results showed that the MPBBMI slurry exhibits proper initial setting time and excellent fluidity when the L/P ratio is 0.64 and the boric acid content is 0.88wt.%. The fired specimens made from the MPBBMI material demonstrated adequate compression strength to withstand impact force of molten metal when the B/M ratio is 0.89 and the STP content is 0.92wt.%. The experimental results confirmed the feasibility of the proposed rapid fabricating process for medium-sized ceramic moulds with MPBBMI material by appropriate measures.

The Heterogeneity of Job Creation and Destruction in Transition and Non-transition Developing Countries: The Effects of Firm Size, Age and Ownership

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Haggai Kennedy Ochieng

2017-12-01

Full Text Available This paper investigates how firm age, size and ownership are related with job creation and destruction, and how these patterns differ across transition and non-transition economies. The analysis finds that age is inversely related with gross job creation and net job creation in the two samples. This finding is consistent with the theory of the learning effect. The relationship between age and job destruction is indifferent in non-transition economies. On the contrary, old firms in transition economies destroy more jobs than young ones. The paper further establishes an inverse relationship between size and gross job creation in the two groups. However, there is divergence between the two samples; small firms in non-transition economies also exhibit a higher gross job destruction rate. Consequently large firms have a higher net job creation rate. In transition economies, small and large firms exhibit similar rates of job destruction. But small firms retain a higher net job creation rate. A more intriguing finding is that state owned firms do not underperform domestic private ones. This means these countries may be using soft budget constraint which allows state owned firms to overstaff. Finally, crowding out of SMEs by foreign owned firms is not evident in transition economies.

Related party transactions and firms financial performance ...

African Journals Online (AJOL)

Related party transactions and firms financial performance. ... African Research Review ... financial performance using Secondary data obtained from Nigeria stock ... on Asset, Return on Equity and Earnings per share of manufacturing firms. ... Result showed RPT has no significant effects on ROA and EPS and not used to ...

Medium-sized water reactors for undeveloped regions

International Nuclear Information System (INIS)

Osmachkin, V. S.

2004-01-01

In the new century the growth of population and an increasing of energy demands together with the difficulties of fossil fuel supply are expected. It is important to find optimal ways in solving such problems without the climate warming. The nuclear power having many advantages in comparison with fossil fuel technologies could play the great role in near future. The Medium-Sized Nuclear Reactors for production of electricity, heat and fresh water are considered as a main direction of nuclear power applications in the developing world It is important to discuss the requirements to such nuclear plants for using in the Countries with Small and Medium Electricity Grids. Particularly, cost-benefit analysis of construction NPP has to include assessment of all type risks and effectiveness of plant. In the paper an attention is paid on Water Reactors designed on the basis of navy technology. Such compact PWR built on special mills and placed on special floating vessel could be used in undeveloped regions. Total plant can be transported to any point of World Ocean and return back to mill for repair or decommissioning after exhaustion of lifetime. It is expected that such reactors with innovative design approach, provision of high safety and proper economic efficiency, based on leasing procedures, could be very attractive for medium-sized and developing countries.(author)

Inducing the Internationalisation of Family Manufacturing Firms from a Transition Context

DEFF Research Database (Denmark)

Marinova, Svetla Trifonova; Marinov, Marin Alexandrov

2017-01-01

to early export inducement despite the fusion of ownership and control, and regardless of transition context volatility and inefficiency. Research limitations/implications - The limitations include the sample size and its industry embeddedness confining generalisability. The key implications...... into the start of internationalisation via exporting and its initiating features. Design/methodology/approach – The study employs a qualitative research approach. Data were collected through semi-structured interviews from informants with conclusive decision-making power and subsequently analysed using...... a combination of inductive and deductive coding. Findings – The findings show that the sample firms internationalised early exhibiting mostly proactive behaviour in finding international clients. Owners-managers’ international orientation and commitment combined with contacts in their social spaces lead...

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.

 Euro Membership as a Real Option Trigger: An Empirical Study of EU15 Manufacturing Firms

DEFF Research Database (Denmark)

Aabo, Tom

) to exercise real options such as to establish alliances / partnerships, to enter new markets / market segments, to switch suppliers, and to generally expand in the Euro-area. The results are robust after controlling for the size of the firms and their sales in the Euro-area. The results go beyond what...

RISK MANAGEMENT PROJECTS EVALUATION OF INNOVATION IN SMALL AND MEDIUM-HIGH TECHNOLOGY USING THE PERSPECTIVE OF PRISM METHODOLOGY

Directory of Open Access Journals (Sweden)

Taciana de Barros Jerônimo

2011-10-01

Full Text Available This study aims to analyze the failures of the activity of project management in small and medium-sized high-tech firms, using the tool PRISM. This postmortem methodology, proposed by Gary Pan, Shan L. and Ray Hackney Pan, analyzes the interactions between the components of the project during the exchange relationship between the project organization, information system and the users. Thus, the contribution of this work is to allow a formal analysis of the relationship between the sequence of events development projects into an innovative view, that provide insights into the potential success or failure of the project on medium-sized high-tech firms (whose the acronym is PMET.

Size Matters: Entrepreneurship and Institutions

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Ioana PETRESCU

2016-05-01

Full Text Available Encouraging the growth of firms is a priority for many governments, so identifying the factors that keep firms small is extremely important for public policy. One of these factors might be the poor quality of institutions. In this paper, I test whether institutions such as corruption, law and order, regulations, bureaucracy, investment friendliness of the government and property rights affect the number micro, small and medium firms and their rate of growth. This paper uses data on micro, small, and medium enterprises (MSME's from the International Finance Corporation and firm growth data from the World Bank's Enterprise Surveys. It shows that better institutions increase the number of medium firms and encourage their growth, but do not have an effect on the number or growth of micro, small or large firms. These results suggest that changes in public policies are needed to improve institutions and foster the survival and growth of medium firms.

JAIF report on small- and medium-size LWRs

International Nuclear Information System (INIS)

Anon.

1983-01-01

The Ministry of International Trade and Industry has made a report on the results of the study on the utilization of small and medium size LWRs. The Japan Atomic Industrial Forum undertook this research work by the commission of the Ministry. It studied six cases of PWRs and BWRs with thermal output power ranging from 20 MWt to 700 MWt as the hypothetical design for their siting conditions, reactor capacity and the examples of utilization of the corresponding steam output. A large housing estate of 5,000 units, a local core city with population of 100,000, industrial utilization for petrochemical plants and paper and pulp plants and the combined utilization for a factory and a housing estate of 5,000 units were examined. The report said that a city with population of 100,000 would be the best object to supply heat from a nuclear reactor, and it is important to develop the nuclear reactors with 200 MWt capacity. This type is versatile in the siting conditions, and can be constructed near a city, accordingly, it offers the possibility of extensive utilization. The significance of small and medium size LWRs as the alternative energy for oil, the regional development accompanying the use of small and medium size LWRs, the technical development toward scale reduction, easy operation and versatile utilization, the economical evaluation of the utilization models and the tasks for the future are reported. (Kako, I.)

Evaluation research of small and medium-sized enterprise informatization on big data

Science.gov (United States)

Yang, Na

2017-09-01

Under the background of big data, key construction of small and medium-sized enterprise informationization level was needed, but information construction cost was large, while information cost of inputs can bring benefit to small and medium-sized enterprises. This paper established small and medium-sized enterprise informatization evaluation system from hardware and software security level, information organization level, information technology application and the profit level, and information ability level. The rough set theory was used to brief indexes, and then carry out evaluation by support vector machine (SVM) model. At last, examples were used to verify the theory in order to prove the effectiveness of the method.

WHAT FIRMS ARE REWARDED AFTER GLOBAL FINANCIAL CRISIS? THE ROLE OF INNOVATION AND GLOBALIZATION STRATEGIES IN RECOVERY

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Victoria Golikova

2016-03-01

Full Text Available The aim of the research is to conduct an empirical investigation and reveal what types of globalization and innovation strategies in turbulent and unfavorable regional institutional environment are most likely to be associated with different trajectories of Russian manufacturing firms’ performance in 2007- 2012. We employ the results of empirical survey of 1000 medium and large enterprises in manufacturing (2009 linked to financial data from Amadeus database and the data on the regional institutional environment. We test that (1 introduction of innovations before the crisis ceteris paribus helped the firms to successfully pass the crisis and recover. We expect that (2 companies that became globalized before the crisis (via importing of intermediate and capital goods; exporting; FDI; establishment of partner linkages with foreign firms ceteris paribus are more likely to successfully pass the crisis and grow. And (3 propose the positive effect of synergy of innovation efforts and globalization strategy of the firm. We expect that the abovementioned factors are complimentary and reinforce the ability of the firm to recover after crisis shock. We found strong support for the hypothesis that firms financing introduction of new products before the crisis and simultaneously managed to promote and sell them on the global market were rewarded by quick return to the growing path after global crisis. Other strategies, i.e. solely innovations without exporting play insignificant role while exporting without attempts to introduce new products contribute even negatively to post-crisis recover. Institutional environment also matters: in the regions with less level of corruption firms were more likely to grow after the crisis.

A longitudinal study of the impact of corporate social responsibility on firm performance in SMEs in Zambia

NARCIS (Netherlands)

Choongo, Progress

2017-01-01

The aim of this study is to investigate the impact of corporate social responsibility on firm performance using a longitudinal design in small and medium-sized enterprises (SMEs). The reported study was conducted in a Sub-Saharan African developing country, Zambia. Data were collected from 153

What affects the innovation performance of small and medium-sized enterprises (SMEs) in the biotechnology industry? An empirical study on Korean biotech SMEs.

Science.gov (United States)

Kang, Kyung-Nam; Lee, Yoon-Sik

2008-10-01

Research-intensive small and medium-sized enterprises (SMEs) play a crucial role in the advancement of the biotechnology industry. This paper explored the impacts of internal and contextual variables on innovative activity in Korea and compared the results of this analysis with previous studies of other countries. Our analysis of 149 Korean biotech SMEs showed that the ratio of R&D expenditure to sales, the ratio of R&D employees to total employees, CEO characteristics, governmental support and international networking are positively correlated with a firm's innovation performance. The results may help decision makers to better foster SMEs in the Korean biotechnology industry.

ASPECTS OF OBSTACLES FOR APPLYING ACTIVITY BASED COSTING (ABC SYSTEM IN EGYPTIAN FIRMS

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Petru STEFEA

2013-10-01

Full Text Available The following investigation aims to determine the aspects of obstacles for applying Activity Based Costing (ABC system in the Egyptian case and the significant differences among the effects of such obstacles . The Study used the survey method to describe and analyze the obstacles in some Egyptian firms. The population of the study is Egyptian manufacturing firms. This survey used the number of 392 questionnaires that were used throughout the total of 23 Egyptian manufacturing firms, during the first half of 2013. Finally, the study found some influencing obstacles for applying this system (ABC and there were significant differences among the aspects of obstacles for applying ABC system in the Egyptian manufacturing firms.

Medium-size nuclear plants

International Nuclear Information System (INIS)

Vogelweith, L.; Lavergne, J.C.; Martinot, G.; Weiss, A.

1977-01-01

CEA (TECHNICATOME) has developed a range of pressurized water reactors of the type ''CAS compact'' which are adapted to civil ship propulsion, or to electric power production, combined possibly with heat production, up to outputs equivalent to 125 MWe. Nuclear plants equipped with these reactors are suitable to medium-size electric networks. Among the possible realizations, two types of plants are mentioned as examples: 1) Floating electron-nuclear plants; and 2) Combined electric power and desalting plants. The report describes the design characteristics of the different parts of a 125 MWe unit floating electro-nuclear plant: nuclear steam system CAS 3 G, power generating plant, floating platform for the whole plant. The report gives attention to the different possibilities according to site conditions (the plant can be kept floating, in a natural or artificial basin, it can be put aground, ...) and to safety and environment factors. Such unit can be used in places where there is a growing demand in electric power and fresh water. The report describes how the reactor, the power generating plant and multiflash distillation units of an electric power-desalting plant can be combined: choice of the ratio water output/electric power output, thermal cycle combination, choice of the gain ratio, according to economic considerations, and to desired goal of water output. The report analyses also some technical options, such as: choice of the extraction point of steam used as heat supply of the desalting station (bleeding a condensation turbine, or recovering steam at the exhaust of a backpressure turbine), design making the system safe. Lastly, economic considerations are dealt with: combining the production of fresh water and electric power provides usually a much better energy balance and a lower cost for both products. Examples are given of some types of installations which combine medium-size reactors with fresh water stations yielding from 10000 to 120000 m 3 per day

DETERMINATION OF THE INFLUENCING FACTORS TO MENU PLANNING IN BIG SIZED FOOD&BEVERAGE FIRMS (SAMPLE OF TURKEY)

OpenAIRE

SARIOĞLAN, Mehmet

2016-01-01

AbstractIndividuals who spend their time in destinations far away from their home because of the facts such as business, education, health, vacation and meeting has brought about eating habit in locations (outdoors). Since that increasing rate of eating habits outdoors of the individuals day by day, bigsized Food&Beverage firms has been showed up. Big sized Food&Beverage firms become influential as a supportive role on producing factors of the public, private or corporate ente...

Sources of Investment Finance in Firms in Slovakia

OpenAIRE

Mikócziová Jana

2010-01-01

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

Foreign Entry and Heterogeneous Growth of Firms

DEFF Research Database (Denmark)

Deng, Paul Duo; Jefferson, Gary H.

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

E-commerce adoption in Malaysian Small and Medium Enterprises Practitioner Firms: A revisit on Rogers' model

Directory of Open Access Journals (Sweden)

MEHDI M. POORANGI

2013-01-01

Full Text Available The current climate of business necessitates competitions that are often tough and unpredictable. All organizations, regardless their size and scope of operation, are facing severe competitive challenges. In order to cope with this phenomenon, managers are turning to e-commerce in their respective organizations. The present study hinges upon exploring and explaining the different dimensions of the adoption of e-commerce among Small and medium enterprises, based on the Five Factors of Diffusion of Innovation Model derived by Rogers. In this study, however, we employed the survey methods. A questionnaire was distributed to 1,200 managers and employees in the manufacturing, service and agricultural sectors by email; with a response rate of 10%. The results gleamed from this study posits that relative advantage is influential vis-à-vis e-commerce adoption. Trialability and Observability factors affect the level of confidence of management, which in turn, influences e-commerce adoption. Meanwhile, the existing culture of a company affects the resistance of employees, which in turn negatively effects the e-commerce adoption, while complexity does not significantly influence the e-commerce adoption.

Particle size distribution of iron nanomaterials in biological medium by SR-SAXS method

International Nuclear Information System (INIS)

Jing Long; Feng Weiyue; Wang Bing; Wang Meng; Ouyang Hong; Zhao Yuliang; Chai Zhifang; Wang Yun; Wang Huajiang; Zhu Motao; Wu Zhonghua

2009-01-01

A better understanding of biological effects of nanomaterials in organisms requests knowledge of the physicochemical properties of nanomaterials in biological systems. Affected by high concentration salts and proteins in biological medium, nanoparticles are much easy to agglomerate,hence the difficulties in characterizing size distribution of the nanomaterials in biological medium.In this work, synchrotron radiation small angle X-ray scattering(SR-SAXS) was used to determine size distributions of Fe, Fe 2 O 3 and Fe 3 O 4 nanoparticles of various concentrations in PBS and DMEM culture medium. The results show that size distributions of the nanomaterials could perfectly analyzed by SR-SAXS. The SR-SAXS data were not affected by the particle content and types of the dispersion medium.It is concluded that SR-SAXS can be used for size measurement of nanomaterials in unstable dispersion systems. (authors)

Do interventions targeted at micro-entrepreneurs and small and medium-sized firms create jobs? A systematic review of the evidence for low and middle income countries

NARCIS (Netherlands)

M. Grimm (Michael); A.L. Paffhausen

2015-01-01

markdownabstract__Abstract__ Worldwide, 600 million jobs are needed over the next 15 years to keep employment rates at their current level. Because most employment in low and middle income countries is in micro-, small and medium-sized enterprises, governments, non-governmental organizations and

GOVERNMENT SUPPORT FOR SMALL AND MEDIUM-SIZED BUSINESS AND INNOVATIVE ACTIVITIES

OpenAIRE

Pоlina Kolisnichenko

2017-01-01

The purpose of the paper is to reveal the conditions of the innovative development of the small and mediumsized entrepreneurship in Ukraine; the problems that suppress the innovative activity and small and medium-sized enterprises development; peculiarities of the tax incentives for the development of the entrepreneurship in the advanced countries and in Ukraine; the main kinds and characteristics of the small and medium-sized enterprises public support. Methodology. The methods of scientific...

The Effects of Strategic Orientations and Perceived Environment on Firm Performance

Directory of Open Access Journals (Sweden)

Farkas Gergely

2016-03-01

Full Text Available Among micro, small, and medium-sized firms located in Hungary, I conducted a survey examining the effects of entrepreneurial and learning orientations, and that of perceived environment on firm performance. I studied the perceptions of environmental turbulence and environmental hostility. Three dimensions were examined both in the case of entrepreneurial orientation (i.e., innovativeness, proactiveness, and risk taking and in the case of learning orientation (i.e., commitment to learning, shared visions, and open-mindedness. The effects of such dimensions on firm performance were analyzed with the path analysis (PLS-SEM method. In the course of the research, firm performance was divided into three dimensions: efficiency, growth, and profit. The possible effect of available financial resources was also taken into consideration. Results show that the availability of financial resources is relatively important, although it is connected only to the growth dimension of performance. Strategic orientations should be interpreted as multi-dimensional, and they have an effect on different performance dimensions. The research was cross-sectional and has implications for long-term strategic decisions.

Construction firm practices and manager beliefs regarding the employment and safety of teenaged employees: a North Carolina based study.

Science.gov (United States)

Rauscher, Kimberly J; Schulman, Michael; Runyan, Carol W

2010-01-01

The objective of this study was to examine the reported practices of construction firms and the beliefs of firm managers/supervisors with respect to employing youth under age 18 and ensuring their safety. The participants in this study were firm representatives from 54, mostly small to medium sized, construction firms in North Carolina. Survey responses were analyzed for the entire sample and within strata of firm size (1-10, 11+ employees) using descriptive statistics. Percentages and 95% confidence intervals were calculated. Chi-square tests were used to test for statistical significance in differences between firm sizes. The findings suggest limits in the adequacy of safety training given to youth in construction, particularly in light of the minimal experience firms require of young hires, that managers' beliefs about the causes of young worker injury are largely focused on worker behaviors rather than on the presence of hazards, and that managers' compliance with child labor laws may be hampered by their lack of knowledge of these laws and an ambivalence toward their usefulness and enforcement. While larger studies are needed to confirm and advance these findings, when considered along with prior studies, they demonstrate the need to improve the safety of the construction environment for youth. The development of new educational interventions by health and safety professionals targeted at construction firms are supported, as are efforts by government regulators to increase enforcement and employer knowledge of the child labor laws.

Labour contracts and performance of Cameroonian firms | Benjamin ...

African Journals Online (AJOL)

The study evaluated employees' productivity in relation to their contract status. It used survey data collected among manufacturing sector firms, having more than 15 employees, in Cameroon between April and May 2006; and information issued by the National Institute of Statistics. Information collected concerned 45 firms ...

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

African Journals Online (AJOL)

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

THE COMPARISON OF CAPITALSTRUCTURE DETERMINANTSBETWEEN SMALL AND MEDIUM ENTERPRISES(SMEs AND LARGEFIRMS IN MALAYSIA

Directory of Open Access Journals (Sweden)

Asmawi Noor Saarani

2013-01-01

Full Text Available The objective of the paper isto analyze the determinants of capital structure offirms, by comparing Small and Medium Enterprises (SMEs and large firms.SMEs in Malaysia play a significantrole in the national economy. However,contribution of Malaysian SMEs to economy is not up to themark to selectedbenchmarking countries such as South Korea and Japan. One of major reasons isfinancial constraint. Given that theresource of financial assistance fromgovernment is limited, concentration has tobe given to potential firms which arelisted as Enterprise 50 (E50. E50 is a prestigious awards program to recognizethe achievements of SMEs. Panel data analysis has been used to test thedeterminants of capital structure, indicatedby the leverage ratio of the firms. Theindependent variables are asset tangibility, profitability, non-debt tax shield,liquidity, age and size. Evaluation isbased on financial data of 285 firmsconsisting of 91 SMEs and 194 large firms for a period of 2004 till 2011. TradeOff and Pecking Order theory are discussed. The result shows that capitalstructure of SMEs and large firms are almost similar except in term of growth,liquidity and size. Growth is important for large firms. Liquidity is the criticalfactor for SMEs in determining short term debt, and size does matter to SMEs.

An evaluation of HACCP implementation status in UK small and medium enterprises in food manufacturing.

Science.gov (United States)

Fielding, L M; Ellis, L; Beveridge, C; Peters, A C

2005-04-01

To reduce foodborne illnesses, hazard and risk-based quality management systems are essential. Small and medium sized companies (SMEs) tend to have a poor understanding of such systems and limited adoption of the Hazard Analysis Critical Control Point system (HACCP). The requirement for full HACCP implementation by 2006 will place an even greater burden on these businesses. The aim of this project is to assess the current levels of understanding of hazards and risks in SMEs in the manufacturing sector. A questionnaire survey was made of 850 SMEs, including microbusinesses. This determined the industry sector and processes carried out, whether the company operated hazard-based quality management and the knowledge of the technical manager regarding the associated hazards and risks. Follow-up visits to the manufacturing plant observed the processes and the operatives to determine their level of understanding. A benchmarking audit was carried out and each company was rated. The results show that the majority of respondents stated that they operated hazard analysis-based quality management. The ability of the respondents to correctly define a hazard or risk or identify different types of hazard was, however, poor. There was no correlation between business type and audit score. The microbusinesses did, however, perform significantly less well than the larger SMEs.

Design and simulation of CONWIP in the complex flexible job shop of a Make-To-Order manufacturing firm ,

Directory of Open Access Journals (Sweden)

Giovanni Romagnoli

2015-01-01

Full Text Available This paper presents a methodology for the design and integration of CONWIP in a make-to-order firm. The approach proposed was applied directly to the flexible job shop of a real manufacturing firm in order to assess the validity of the methodology. After the description of the whole plant layout, attention was focused on a section of the shop floor (21 workstations. The CONWIP system deals with multiple-product families and is characterized by path-type cards and a pull-from-the-bottleneck scheme. The cards release strategy and a customized dispatching rule were created to meet the firm’s specific needs. After the simulation model of the present state was built and validated, the future state to be implemented was created and simulated (i.e. the CONWIP system. The comparison between the two systems achieved excellent results, and showed that CONWIP is a very interesting tool for planning and controlling a complex flexible job shop.

Is Small Beautiful? Size Effects of Volatility Spillovers for Firm Performance and Exchange Rates in Tourism

NARCIS (Netherlands)

C-L. Chang (Chia-Lin); H-K. Hsu (Hui-Kuang); M.J. McAleer (Michael)

2012-01-01

textabstractThis paper examines the size effects of volatility spillovers for firm performance and exchange rates with asymmetry in the Taiwan tourism industry. The analysis is based on two conditional multivariate models, BEKK-AGARCH and VARMA-AGARCH, in the volatility specification. Daily data

Is Small Beautiful? Size Effects of Volatility Spillovers for Firm Performance and Exchange Rates in Tourism

NARCIS (Netherlands)

C-L. Chang (Chia-Lin); H-K. Hsu (Hui-Kuang); M.J. McAleer (Michael)

2013-01-01

textabstractThis paper examines the size effects of volatility spillovers for firm performance and exchange rates with asymmetry in the Taiwan tourism industry. The analysis is based on two conditional multivariate models, BEKK-AGARCH and VARMA-AGARCH, in the volatility specification. Daily data

Human resources management within the process management in small and medium-sized enterprises

Directory of Open Access Journals (Sweden)

Marie Duspivová

2013-01-01

Full Text Available Sector of small and medium-sized enterprises is regarded as the backbone of the economy and a driving force of innovation, employment and social integration. Development of the sector of small and medium-sized enterprises in the Czech Republic has a substantial impact on economic and social development of the country and its various regions. This article deals with the human resources management in small and medium-sized enterprises, because it is more than obvious recently that the prosperity of the organization is depended on human resources and management of them can determine not only whether the organizations succeed, but whether it will be able to survive in turbulent conditions in the present world. The main aim of this paper is to analytical describe the monitoring the process of human resources management in selected categories of enterprises by business activity and number of employees including statistical analysis of causal effects. Further to analytical describe the evaluation the process of human resources management and indicators of this process, which are monitored by small and medium-sized enterprises. To achieve this aim were used selected primary data collected in the project GAJU 068/2010/S titled “Process management and its possible implementation in small and medium-sized enterprises”.

Perspective on small and medium size reactors

International Nuclear Information System (INIS)

Stahlkopf, K.E.; Braun, C.

1985-01-01

There has been renewed interests in the United States in small and medium size nuclear power plants (600 MWe or less). The reasons for this include: (1) there is a large uncertainty in load growth projections. Small to medium size nuclear power plants may be better suited to meet uncertain load growth projections. (2) It has been argued that a large economy of scale exists because of the nature of nuclear power installations. A recent examination of the French program shows that no economy of scale exists between the 900 MWe and 1300 MWe plants. Others have suggested that it is possible to reduce the economy of scale so it is not a prohibitive factor. (3) In the past in the United States, it has been customary for several smaller utilities to share the output of a large nuclear plant to take advantage of the perceived economy of scale. Difficulties have been encountered by some of these enterprises. (4) An examination of capacity factors for the United States shows that plants of smaller output appear to operate more reliably and economically than larger plants

Export Marketing Involvement of African Small and Medium Size ...

African Journals Online (AJOL)

Export Marketing Involvement of African Small and Medium Size Enterprises: Tanzania's Fish Processing Industry. ... This study examined the Export marketing involvement of SMEs from the Least ... EMAIL FULL TEXT EMAIL FULL TEXT

76 FR 22366 - Notice of Petitions by Firms for Determination of Eligibility To Apply for Trade Adjustment...

Science.gov (United States)

2011-04-21

...-Mar-11 The firm manufactures wooden College, PA 16801. furniture from Southern Yellow Pine. Edgemate.... sheets and edgebanding. Intelicoat Technologies Image 28 Gaylord St., Ste. 1, 13-Apr-11 The firm... imaging technologies. Laserlith Corporation 4775 Technology Circle, 11-Apr-11 The firm manufactures...

Does Firms’ Innovation Promote Export Growth Sustainably?—Evidence from Chinese Manufacturing Firms

Directory of Open Access Journals (Sweden)

Liangfeng Hao

2016-11-01

Full Text Available Recent theoretical analysis and empirical studies have emphasized that firms’ innovation could significantly improve export growth. However, the positive effect of innovation on exports is likely to change due to unstable domestic offsetting for innovation and increasing worldwide competition for trade. This study aims to explore the dynamic link between them. We first develop a theoretical model between innovation and export growth based on the theory of heterogeneity. Export growth is measured through the dimensions of extensive margin and intensive margin so as to better investigate the effect of innovation on export performance. The propositions of mechanism analysis reveal that the effect of innovation on exports is non-linear rather than sustainable. An empirical study is followed to test the propositions by using data from a representative panel of Chinese manufacturing firms. Consistent with the theoretical predictions, the results show an inverted U-shaped relationship between innovation and extensive margin and a U-shaped relationship between innovation and intensive margin. The non-linear relations are verified by a threshold effect test. Further study shows less innovation and more firms on the left side of the relation curves. The distribution suggests irregular innovation ability among the exporters. Moreover, the role of innovation is more important for export growth and the corresponding threshold is higher in terms of high technological sectors. The contribution of this study is to introduce a comprehensive framework to investigate the dynamic effect of innovation on export growth, serving as a modest spur to induce the following studies to explore the sustainability of innovation effect.

Unraveling the organizational mechanism at the root of safety compliance in an Italian manufacturing firm.

Science.gov (United States)

Avanzi, Lorenzo; Savadori, Lucia; Fraccaroli, Franco

2018-03-01

Safety performance is recognized as the more proximal and effective precursor of safety outcomes. In particular, safety compliance significantly reduces workplace accidents and injuries. However, it is not entirely clear what role organizational factors play in determining workers' safety. The present study contributes to defining which organizational factors increase safety compliance by testing a mediational model in which supervisor support is related to safety climate, which in turn is related to organizational identification that finally is related to safety compliance. We tested our hypotheses in a sample of 186 production workers of an Italian manufacturing firm using a cross-sectional design. Findings confirm our hypotheses. Management should consider these organizational factors in order to implement primary prevention practices against work accidents.

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)

The relationship between cost system complexity, purposes of use, and cost system effectiveness

NARCIS (Netherlands)

Schoute, M.

2009-01-01

This paper uses survey data from 133 Dutch, medium-sized manufacturing firms to examine the associations between cost system complexity (in terms of the applied overhead absorption procedures), purposes of use, and cost system effectiveness. First, factor analysis identifies two underlying

Mechanism of Interaction between Entrepreneurial Spirit and Growth of Small and Medium Sized Private Enterprises

Institute of Scientific and Technical Information of China (English)

Peng XIE

2016-01-01

In the context of government appeal of " mass entrepreneurship and innovation",all areas launched the movement of " mass entrepreneurship" and " grassroots entrepreneurship". As parts of vitality of China’s market economy,small and medium sized private enterprises become grassroots of market competition in talents,funds,and technologies. This paper combined three levels of entrepreneurial spirit and small and medium sized private enterprises,studied acting mechanism of entrepreneurial spirit,discussed competitive power of small and medium sized private enterprises,and recommended that small and medium sized private enterprises should cultivate core competitive power,adapt to external environment,and create external environment support,to realize sound development.

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...

Raising medium-sized livestock and hepatitis risk: A national study in Indonesia

Directory of Open Access Journals (Sweden)

Maria Holly Herawati

2012-07-01

Full Text Available Latar belakang: Sanitasi lingkungan, termasuk kandang pemeliharaan ternak sedang, berpengaruh terhadap penyebaran penyakit hepatitis A dan E. Tujuan penelitian ini menilai lokasi kandang pemeliharaan ternak sedang berkaitan dengan risiko gejala hepatitis di beberapa propinsi dengan prevalensi hepatitis tinggi di Indonesia. Metode: Data berasal dari sebagian hasil Riset Kesehatan Dasar (Riskesdas tahun 2007 di Indonesia. Untuk penilaian ini, data yang dipakai berasal dari 12 propinsi dengan prevalensi tinggi (0,6% hepatitis di Indonesia, dan dipilih hanya subjek yang tidak memelihara ternak serta hanya yang memelihara ternak sedang. Subjek hepatitis adalah responden yang pada saat wawancara mengatakan pernah mempunyai gejala hepatitis atau pernah di diagnosis menderita hepatitis oleh dokter atau paramedik dalam kurun waktu 12 bulan terakhir. Hasil: Dari 141.291 subjek, 1.257 (0,8% menderita hepatitis. Pada umumnya yang memelihara ternak sedang berisiko 86% lebih banyak terkena hepatitis dibandingkan dengan yang tidak memelihara  ternak [rasio odds suaian (ORa=1,86; 95% interval kepercayaan (CI=1,61-2,09]. Risiko tertinggi (2 kali lipat terkena hepatitis terjadi di antara subjek yang mengandangkan ternak sedang di dalam rumah (ORa=1,98; 95% CI=1,47-2,66, sedangkan risiko terkecil (38% lebih besar terkena hepatitis terjadi di antara yang mengandangkan ternak sedangnya di luar luar rumah dibandingkan dengan tidak memelihara ternak sedang (ORa=1,38; 95% CI=1,14-1,67 dibandingkan dengan tidak memelihara ternak. Kesimpulan: Kandang di luar rumah untuk meliharaan ternak sedang yang paling kecil menyebabkan risiko hepatitis. (Health Science Indones 2011;2:14-20   Abstract Background: Environmental sanitation, among others raising medium-sized livestock, affect the spread of hepatitis A and E. This paper presents an assessment of relation between place of raising medium-sized livestock and risk of hepatitis in high prevalence endemic hepatitis provinces

Do Less Regulated Markets Attract Lower Quality Firms?

DEFF Research Database (Denmark)

Nielsson, Ulf

2013-01-01

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

Identification of determinants for globalization of SMEs using multi-layer perceptron neural networks

International Nuclear Information System (INIS)

Draz, U.; Jahanzaib, M.; Asghar, G.

2016-01-01

SMEs (Small and Medium Sized Enterprises) sector is facing problems relating to implementation of international quality standards. These SMEs need to identify factors affecting business success abroad for intelligent allocation of resources to the process of internationalization. In this paper, MLP NN (Multi-Layer Perceptron Neural Network) has been used for identifying relative importance of key variables related to firm basics, manufacturing, quality inspection labs and level of education in determining the exporting status of Pakistani SMEs. A survey has been conducted for scoring out the pertinent variables in SMEs and coded in MLP NNs. It is found that firm registered with OEM (Original Equipment Manufacturer) and size of firm are the most important in determining exporting status of SMEs followed by other variables. For internationalization, the results aid policy makers in formulating strategies. (author)

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...

Sources of Investment Finance in Firms in Slovakia

Directory of Open Access Journals (Sweden)

Mikócziová Jana

2010-06-01

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

Simulated annealing and joint manufacturing batch-sizing

Directory of Open Access Journals (Sweden)

Sarker Ruhul

2003-01-01

Full Text Available We address an important problem of a manufacturing system. The system procures raw materials from outside suppliers in a lot and processes them to produce finished goods. It proposes an ordering policy for raw materials to meet the requirements of a production facility. In return, this facility has to deliver finished products demanded by external buyers at fixed time intervals. First, a general cost model is developed considering both raw materials and finished products. Then this model is used to develop a simulated annealing approach to determining an optimal ordering policy for procurement of raw materials and also for the manufacturing batch size to minimize the total cost for meeting customer demands in time. The solutions obtained were compared with those of traditional approaches. Numerical examples are presented. .

Firm Productivity, Organizational Choice and Global Value Chain

OpenAIRE

Anna Giunta; Domenico Scalera; Francesco Trivieri; Jeffrey B. Nugent; Mariarosaria Agostino

2011-01-01

Based upon insights of the global value chain literature, the aim of this paper is to investigate the impact of being a supplier firm on labour productivity. The country of analysis is Italy, historically characterized by a very strong division of labour among firms. We make use of a unique database, which collects information on several organizational, structural and performance variables of a representative sample of more than 3000 Italian manufacturing firms, spanning the period 1998-2006....

A portrait of trading firms in the services sectors: Comparable evidence from four EU countries

OpenAIRE

Haller, Stefanie A.; Damijan, Jože; Kaitila, Ville; Kostevc, Črt; Maliranta, Mika; Milet, Emmanuel; Mirza, Daniel; Rojec, Matija

2012-01-01

We establish a set of stylised facts for trade and trading firms in five market services sectors using comparable firm-level and services data from four EU countries. Our analysis shows that exports account for much lower shares of overall sales in the services sectors than in manufacturing. In line with this there are also fewer firms engaged in trade in the services sectors than in manufacturing; trade intensities, in turn, vary by services sector and country. Trade by services firms is som...

Linking Intellectual Capital and Competitive Advantage: A Cross-Firm Competence Model for North-East Italian SMEs in the Manufacturing Industry

OpenAIRE

A. CAMUFFO; COMACCHIO A.

2005-01-01

While large, international enterprises have developed!adopted state-of-the-art business practices and knowledge management systems, in SMEs (small and medium enterprises) individual competences usually represent the cornerstone of a firm's intellectual capital and a key determinant of organizational performance. The increasingly fierce competition deriving from globalization and ICT has challenged this approach calling for new ways to develop, diffuse and retain knowledge in SMEs. Starting fr...

Implementing Lean Manufacturing in Malaysian Small and Medium Startup Pharmaceutical Company

Science.gov (United States)

Ibrahim, Wan Mohd Khairi bin Wan; Rahman, Mohamed Abdul; Abu Bakar, Mohd Rushdi bin

2017-03-01

Domestic pharmaceutical industry has been identified by the Malaysian government as an industry to be developed under its 11th economic development plan. Most homegrown pharmaceutical companies fall under the category of small and medium enterprises (SME) and therefore need to be highly efficient in their operations to compete with the multinationals. Though lean manufacturing is a well-known methodology to achieve an efficient operation, only a small percentage of the local SMEs implement it. The study aims to determine the real success factors in lean implementation through systematic review of relevant literature on lean manufacturing implementation in local companies, onsite observation of a selected SME company, Global Factor Sdn. Bhd. (GFSB), that successfully implemented lean manufacturing followed by actual implementation of lean project at IKOP Sdn. Bhd., a small startup pharmaceutical company. Lean tools like Gemba, value stream map (VSM) and spaghetti diagram were used to analyze and improve a process at IKOP Sdn. Bhd. The literature review showed that the implementation of lean manufacturing at Malaysian SMEs involved in pharmaceutical industry is at its infancy. Study at GFSB indicated that successful implementation of lean manufacturing stems from management support, employee’s commitment, government support and knowledge on lean among employees. Application of lean tools in IKOP Sdn. Bhd. to improve the process cycle efficiency of hand sanitizer, i-Hand 4.0, has shown that the GMP guidelines are not jeopardized. The Kaizen improvement project resulted in 46.3% reduction in lead time. It may be concluded that implementing lean manufacturing in any small local startup pharmaceutical company is beneficial in reducing operational costs and increasing the efficiency and effectiveness and does not conflict with the existing GMP guidelines.

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.

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

Directory of Open Access Journals (Sweden)

Yang Gao

2018-05-01

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

Exploring the Effects of Brand Promotion and Brand Image Perception on Business Outcomes of Small-sized Agribusiness Firms

Directory of Open Access Journals (Sweden)

Chux Gervase Iwu

2015-01-01

Full Text Available To date there is hardly any empirical evidence in academic literature that branding, particularly brand promotion and brand image perception, plays any significant role in the performance of small-sized agribusiness, especially those in the Sub-Saharan (SSA region. This study was triggered by the need to fill this vacuum. Survey data were collected from small-sized agribusiness firms in one of the SSA economic ‘powerhouses’, which is Nigeria. Employing a contemporary research technique, specifically the Consistent Partial Least Square Structural Equation Modeling (denoted as PLSc, the study found that both brand promotion and brand image perception are instrumental for enhancing the organizational performance of small agribusinesses. In sum, the findings lend empirical support to the extant literature on brand promotion and brand image perception as precursors to the performance of firms regardless of a its size and business location. The implications of study, limitation and future research directions are further highlighted in the concluding section of the paper.

The status of development of small and medium sized reactors

International Nuclear Information System (INIS)

Konstantinov, L.V; Kupitz, J.

1987-01-01

Several IAEA Member States have shown their interest in reactor design, having a smaller power rating (100-500 MW(e) range) than those generally available on the international market. These small and medium sized power reactors are of interest either for domestic applications or for export into countries with less developed infrastructure. There are different developments undertaken for these power reactors to be ready for offering in the nineties and beyond. The paper gives an overview about the status and different trends in IAEA Member States in the development of small and medium sized reactors for the 90's and provides an outlook for very new reactor designs as a long term option for nuclear power. (author)

Angiographic examinations with the medium size technique (70 mm films)

International Nuclear Information System (INIS)

Heuck, F.; Reichardt, W.

1981-01-01

The applicability of medium-size technique was tested in angiographic examinations of thoracic and abdominal organs. By means of full-size image intensifiers it is possible to carry out organ angiography, and by means of a pace control mechanism for the patient transport, the angiography of the extremities can be realized. Examples are given illustrate the informational value in cases where the arial and venous vascular systems of organs and extremities are concerned. The particular advantages for functional analyses of organ circulatory systems in cases of angiography are described. Two factors of importance are pointed out: the reduction of the exposure to irradiation for the patient on the one hand, and the increasing film prices on the other hand. The authors demand to overcome the psychological problems arising in the medical working groups where the medium-size technique shall be introduced into routine diagnostics. (orig./APR) [de

Significance assessment of small-medium sized reactors

Energy Technology Data Exchange (ETDEWEB)

Kanno, Minoru [Japan Atomic Power Co., Research and Development Dept., Tokyo (Japan)

2002-12-01

Preliminary assessment for deployment of small-medium sized reactor (S and M reactor) as a future option has been conducted at the JAPCO (Japan Atomic Power Company) under the cooperation with the CRIERI (Central Research Institute of Electric Power Industry). Significance of the S and M reactor introduction is listed as follows; lower investment cost, possible siting near demand side, enlarged freedom of siting, shorter transmission line, good compatibility with slow increase of demand and plain explanation of safety using simpler system such as integral type vessel without piping, natural convection core cooling and passive safety system. The deployment of simpler plant system, modular shop fabrication, ship-shell structured building and longer operation period can assure economics comparable with that of a large sized reactor, coping with scale-demerit. Also the S and M reactor is preferable in size for the nuclear heat utilization such as hydrogen production. (T. Tanaka)

WASTE MINIMIZATION ASSESSMENT FOR A MANUFACTURER OF CUTTING AND WELDING EQUIPMENT

Science.gov (United States)

The U.S. Environmental Protection Agency (EPA) has funded a pilot program to assist small and medium-size manufacturers who want to minimize their generation of waste but who lack the expertise to do so in an effort to assist these manufacturers Waste Minimization Assessment Cent...

Medium-size power plants. Economic options

International Nuclear Information System (INIS)

Vogelweith, L.; Baujat, J.; Goutail, J.

1978-01-01

In this paper the authors describe a method for economic evaluation of a nuclear power plant project such as advocated by the IAEA but modified through the introduction of various parameters that may affect the evaluation, i.e. the weighted evaluation rate, the annual increase in the cost of fuel, and the discount rate. The method is applied to barge-based medium-size reactors (125 MW(e)). The authors calculate the investment cost, together with the costs of administration, operation and maintenance; use is made of current assumptions regarding the price of fuel for the case of a reference nuclear plant and an oil-fired plant of the same power and in the same programme. In this way the authors derive the discounted cost of the nuclear programme and concurrent conventional programme on the basis of the following assumptions: a weighted inflation rate varying between 0 and 6% per year; an annual increase in real fuel prices ranging from 0 to 3%; and a real discount rate, equal to the real interest rate, varying between 4 and 7% per year and corresponding to nominal discount rates of up to 13.4%. The conclusion reached is that, given the real interest rates actually prevailing on the financial market, a weighted inflation rate foreseen by the majority of experts, and a rise in real fuel prices of the order of 1% per year, the medium-size nuclear power plant is more economical than a conventional plant of the same output. (author)

Role of Relationship Marketing in Small and Medium-Sized Entreprises

OpenAIRE

Ružica Butigan; Ivana Mahnić

2011-01-01

Along with marketing, small and medium enterprises (SMEs) are commonly associated in literature with relationship marketing which results in marketing networks. This paper examines the specific characteristics that differentiate large companies from small and medium-sized enterprises, and the reasons that prevent SMEs from engaging in traditional marketing within the scope of marketing mix. The paper also shows that the key characteristic which distinguishes small from large companies is a pr...

Firm Productivity and Infrastructure Costs in East Africa

OpenAIRE

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

2015-01-01

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

Correlates of Tax Compliance of Small and Medium Size Businesses in Cameroon

Directory of Open Access Journals (Sweden)

Oludele Akinloye Akinboade

2015-12-01

Full Text Available Taxation provides a predictable and stable flow of revenue to finance development objectives. This is important in a country like Cameroon that has serious challenges with meeting its development objectives. Small and medium enterprises (SMEs are significant for economic growth in the country, contributing as much as about 22 percent of the gross domestic product. SMEs generate taxable incomes. They also collect employment and value added taxes on behalf of the government. Taxation, however, imposes high cost to small businesses. SMEs are less tax compliant in comparison to large businesses. SMEs are considered the ‘hard to tax group from the informal sector.’ As such, the literature suggests that only a fraction of their taxable incomes is reported to tax authorities. Against this background, factors that correlate with tax compliance of 575 small and medium size companies in Cameroon are discussed from a survey of companies in the manufacturing and wholesale sectors. High registration cost and time-consuming processes promote tax non-compliance. The perception that tax system is corrupt discourages registration and filing compliance. When there are too many compliance hurdles, the probability of filing compliance is reduced. However, a fair and static system encourages filing and registration compliance. A clear and consistent tax system promotes filing compliance. Authorities that understand their responsibilities and are willing to respond to enquiries during the registration process promote tax compliance in general.

THE INFLUENCE OF EARNING MANAGEMENT TO FIRM VALUE IN INDONESIA MANUFACTURING COMPANIES

Directory of Open Access Journals (Sweden)

Mitha FILANDARI

2018-02-01

Full Text Available Firm value is one of the indicators in determining whether the company is in health state and deservesto invest in it. This makes the manager to act appropriately by performing earnings management practicesto increase the firm value but with the implementation of GCG it is expected to reduce the earningsmanagement practices. This study aimed to examine the effect of GCG mechanisms (independentcommissioner, managerial ownership, institutional ownership, and audit quality as moderating variablesin the relationship between earnings management and firm value. The object in this study is a manufacturingcompany listed in Indonesia Stock Exchange period in 2010-2014. This study uses purposive samplingmethod so that 31 companies were obtained as study sample. Data used in this study are secondary whichare financial statement and annual report. Data analysis in this study uses multiple linear regressionanalysis and Moderated Regression Analysis with SPSS 21. The results show that GCG mechanisms whichcan be moderating variable between earnings management and firm value are independent commissionerand audit qualities whereas managerial ownership and institutional ownership cannot moderate therelationship between earnings management and firm value.

The Challenge of Implementing an ERP System in a Small and Medium Enterprise--A Teaching Case of ERP Project Management

Science.gov (United States)

Xu, Hongjiang; Rondeau, Patrick J.; Mahenthiran, Sakthi

2011-01-01

Enterprise Resource Planning (ERP) system implementation projects are notoriously risky. While large-scale ERP cases continue to be developed, relatively few new ERP cases have been published that further ERP implementation education in small to medium size firms. This case details the implementation of a new ERP system in a medium sized…

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

NARCIS (Netherlands)

Erkus Öztürk, H.

2009-01-01

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

Determinants of environmental audit frequency: the role of firm organizational structure.

Science.gov (United States)

Earnhart, Dietrich; Leonard, J Mark

2013-10-15

This study empirically examines the extent of environmental management practiced by US chemical manufacturing facilities, as reflected in the number of environmental internal audits conducted annually. As its focus, this study analyzes the effects of firm-level organizational structure on facility-level environmental management practices. For this empirical analysis, the study exploits unique data from a survey distributed to all U.S. chemical manufacturing permitted to discharge wastewater in 2001; the data reflect internal audits conducted during the years 1999-2001. Empirical results reveal differences in auditing behavior based on whether facilities are owned by publicly held or non-publicly held firms, owned by U.S.-based or non-U.S.-based firms, and owned by larger or smaller firms. Copyright © 2013 Elsevier Ltd. All rights reserved.

75 FR 58363 - Notice of Petitions by Firms for Determination of Eligibility to Apply for Trade Adjustment...

Science.gov (United States)

2010-09-24

... manufactures gear Crystal Lake, IL 60014- motors. 4414. Baker Manufacturing, Inc 11121 Valley Ave E., 09/10/10 The firm performs machining Puyallup, WA 98372. on aluminum, steel and exotic metals. Circuit Check, Inc 6550 Wedgwood Road, 09/13/10 The firm manufactures Maple Grove, MN 55311- electronic integrated...

An integrated marketing approach for a medium-sized South African airline in a deregulated market

OpenAIRE

2012-01-01

M.Comm. The overall goal of this study is to provide a medium-sized South African airline with the theoretical framework and necessary research and analyses, in developing an integrated marketing approach in a deregulated environment. The objectives of the study are : to analyse the macro and market variables that could impact on the marketing efforts of a medium-sized South African airline. to assess a medium-sized South African airline's marketing efforts (in response to external variabl...

Capabilities, innovation, and overall performance in Brazilian export firms.

Directory of Open Access Journals (Sweden)

José Ednilson de Oliveira Cabral

2015-06-01

Full Text Available This article extends the current research on innovation by investigating the relationship between innovative capabilities and export firms’ overall performance. From the perspectives of the resource-based view (RBV and dynamic capability, we examine the differential and interactive effects of exploration and exploitation capabilities in product innovation for external markets and overall performance (direct and mediated by a new product. In addition, we test the moderating effect of market dynamism and the controlling effect of firm size on these relationships. Hence, the main contribution of this article is developing and empirically testing an original model, by combining these constructs that address new relationships, in an emerging country. This model was tested with data from 498 Brazilian export firms, distributed throughout all Brazilian manufacturing sectors, by firm size, and in states. The analysis was made with application of the structural equation modeling (SEM. As a result, we found support for the assumptions that exploitation capabilities influence product innovation and overall performance, whereas exploration capabilities and their interaction to exploitation capabilities influence overall performance, but not product innovation. Additionally, the relationship between exploitation capabilities and overall performance is mediated by product innovation. Unlike hypothesized, market dynamism does not moderate the relationship between product innovation and overall performance. Furthermore, firm size works as a controlling variable in the relationships analyzed. Regarding the implications for theory, this study contributes to grasp that exploitation capabilities influences a firm’s overall performance, both directly and indirectly (via product innovation, and highlights the various direct and mediatory effects of innovation on overall performance. These insights show the importance of considering the role of mediating and

Internationalization of small and medium-sized enterprises

Directory of Open Access Journals (Sweden)

Zoran Paunović

2010-06-01

Full Text Available Highly developed countries, which are similar to Croatia by size and population, highlight the importance of small and medium-sized enterprises (SMEs as holders of export activities and key factors in raising the competitiveness of the entire economy. In this paper authors research the concept of internationalization of SMEs. Analyzing the influence of decision makers on the process of internationalization and showing its advantages and disadvantages for the respective company and country, this research introduces the most common models on the basis of which this process is implemented in practice. A case study of a small export company from Croatia illustrates the process of internationalization to the U.S. market and provides useful information to the companies which are planning to enter new markets.

77 FR 41373 - Notice of Petitions by Firms for Determination of Eligibility To Apply for Trade Adjustment...

Science.gov (United States)

2012-07-13

... Corporation 475 Old Highway 8 NW., New 06/28/12 The firm manufactures Brighton, MN 55112. multi-layered.../12 The firm designs and Lake City, UT 84109. manufactures custom electric signs for advertising...

Estimated spatial requirements of the medium- to large-sized ...

African Journals Online (AJOL)

Conservation planning in the Cape Floristic Region (CFR) of South Africa, a recognised world plant diversity hotspot, required information on the estimated spatial requirements of selected medium- to large-sized mammals within each of 102 Broad Habitat Units (BHUs) delineated according to key biophysical parameters.

Business Benefits from Enterprise Systems Implementation in Small and Medium-sized Enterprises

Directory of Open Access Journals (Sweden)

Sanjay Mathrani

2009-08-01

Full Text Available The market for enterprise systems (ESs continues to grow as business becomes increasingly global and competitive. Increasingly, the market focus for ES vendors is on small businesses. The purpose of this study is to provide a unique ES vendor/consultant perspective on (a the business benefits small and medium-sized enterprises (SMEs expect from their ES investment and (b to examine current practices of ES implementation in SMEs through a conceptual framework that considers the organisational, process and strategic context of the implementation. This study does so with interview data collected from ES vendors, ES consultants and IT research firms, who are the key players in the New Zealand ES industry. A distinctive contribution of this research is the vendor/consultant perspective as the unit of analysis, rather than the SME perspective commonly used in similar research. The vendor/consultant perspective offers a comprehensive viewpoint that extends across numerous SMEs in a variety of industries. Findings from interviews with these professionals indicate that although many ES implementations are several years old now, SMEs have only recently started tracking benefits through analytical processes in expectation to realise business value from their ES investment. The results also identify how ES implementation practices are adapting to be more suitable to the SME sector, an important market for ES vendors given the saturation of the large enterprise market for ES implementation.

Small manufacturing plants, pollution, and poverty : new evidence from Brazil and Mexico

OpenAIRE

Dasgupta, Susmita; Lucas, Robert E. B.; Wheeler, David

1998-01-01

The authors use new data from Brazil and Mexico to analyze relationships linking economic development, the size distribution of manufacturing plants, and exposure to industrial pollution. For lack of data, prior work in this field has been limited largely to water pollution and medium-size plants. This study examines air pollution and encompasses small plants (with 1 to 20 employees) as well as medium-size and large plants. Four main questions are addressed (with answers from plant-level data...

CAS medium-size nuclear plants

International Nuclear Information System (INIS)

Vogelweith, L.; Weiss, A.

1977-01-01

CEA has developed a range of pressurized water reactors of the type CAS Compact, which are adapted to civil ship propulsion, or to electric power production, combined possibly with heat production, up to outputs equivalent to 125MW(e). Nuclear plants equipped with these reactors are suitable for medium-size electric networks, especially in developing countries, because they are easily adaptable, owing to their flexibility; they can be installed and used in a variety of ways (on land, floating installation, combination of electric power and other production, etc.); they can be used as training reactors by countries wishing to limit their investment plans before undertaking a wider nuclear development. Examples of two possible realizations are presented: as a floating plant, and as a combined electric and desalting plant. (author)

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

Directory of Open Access Journals (Sweden)

Sunil Nandi

2013-01-01

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

[Management practices in medium-sized private hospitals in São Paulo, Brazil].

Science.gov (United States)

Brito, Luiz Artur Ledur; Malik, Ana Maria; Brito, Eliane; Bulgacov, Sergio; Andreassi, Tales

2017-04-03

Traditional management practices are sometimes considered merely a necessary condition for superior performance. Other resources and competencies with higher barriers to imitation are assumed to be potential sources of competitive advantage. This study describes and analyzes the effect of traditional management practices on the performance of medium-sized hospitals. Medium-sized companies frequently display the greatest differences in management practices, and only recently did the hospital sector seek ways to develop its competitiveness in the administrative arena. The results generally indicate that basic management practices can make differences in performance, offering support for the new practice-based view (PBV). Hospitals with the highest rate of adoption of practices had the highest occupancy rate, hospital-bed admissions, and accreditation. Lack of adoption of management practices by medium-sized hospitals limits their competitive capacity and can be viewed as a component of the so-called Brazil cost, but in this case an internal component.

Small firm perspective in customer relationship management implementation

OpenAIRE

Teh, Soo Yee

2017-01-01

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

BUSINESS CLIMATE OF FOOD FIRMS: A COMPARATIVE ANALYSIS OF PROBLEMS FACED BY FOOD MANUFACTURERS, WHOLESALERS, RETAILERS AND SERVICE INSTITUTIONS IN NEW JERSEY

OpenAIRE

Adelaja, Adesoji O.; Nayga, Rodolfo M., Jr.; Tank, Karen Rose; Schilling, Brian J.

1997-01-01

This paper presents the problems facing food firms using information from focus groups of industry executives from New Jersey. The leading problems for food manufacturers are related to regulation, taxation, economic development, and high business costs. For food wholesalers the leading problems are transportation, regulation, labor quality, training and education, and public relations. Food retailers cite litigation and liability, high business costs, regulation, and insurance costs as leadi...

The Role of Corporate Governance in Firm Performance

Directory of Open Access Journals (Sweden)

Naimah Zahroh

2017-01-01

Full Text Available The objective of this study is to examine the role of corporate governance to increase firm performance. The measure of corporate governance are corporate governance mechanism and Corporate Governance Perception Index (CGPI. Samples are companies that followed CGPI award at 2005-2014. The examination of the relationship of corporate governance and firm performance is conducted by regression of corporate governance mechanism variables and control variables to profitability. Corporate governance mechanisms are board size, board independence, outside directors, audit committee size, audit committee meeting, audit quality, and CGPI. Control variables are leverage and firm size. The results of this study indicate that board independence negatively influence profitability, audit committee meeting positively influence profitability, audit quality positively influence profitability, CGPI positively influence profitability, leverage negatively influence profitability, and firm size negatively influence profitability.

True versus spurious state dependence in firm performance

DEFF Research Database (Denmark)

Kaiser, Ulrich; Kongsted, Hans Christian

2008-01-01

This paper analyzes the persistence of firms' exporting behavior in a panel of German manufacturing firms using dynamic binary choice models. We distinguish between true and spurious state dependence in exports and apply fixed effects methods that allow us to verify the robustness of our results ...... determinants. Our results, which are consistent with the findings of previous studies on firms in developing countries and in the United States, show the presence of important sunk costs in export market entry and a depreciation of knowledge and experience in export markets....

True Versus Spurious State Dependence in Firm Performance

DEFF Research Database (Denmark)

Kaiser, Ulrich; Kongsted, Hans Christian

This paper analyzes the persistence of firms' exporting behavior in a panel of German manufacturing firms using dynamic binary choice models. We distinguish between true and spurious state dependence in exports and apply fixed effects methods that allow us to verify the robustness of our results ...... determinants. Our results, which are consistent with the findings of previous studies on firms in developing countries and in the United States, show the presence of important sunk costs in export market entry and a depreciation of knowledge and experience in export markets...

The business environment and phases of development of small and medium-sized enterprises

OpenAIRE

Wach, Krzysztof

2006-01-01

The subject literature distinguishes several factors that determine the establishment, survival , operations and development of micro, small, and medium-sized enterprises in particular regions. In this article, the author presents a classification of these factors in terms of whether they are barriers or stimulators. On this basis, the author explains the influence of regional environment (meso-environment) factors on the development of small and medium-sized enterprises in various phases of ...

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.

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.

Where Gibrat meets Zipf: Scale and scope of French firms

Science.gov (United States)

Bee, Marco; Riccaboni, Massimo; Schiavo, Stefano

2017-09-01

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

Small and medium sized reactors: Status and prospects. Proceedings

Energy Technology Data Exchange (ETDEWEB)

NONE

2002-08-01

During the early years of nuclear power deployment, the plants entering service were dominated by what are now considered small (less than 300 MW(e)) and medium (300 to 700 MW(e)) reactors. In the late 1970s, the balance shifted to larger size plants to serve the requirements of industrialized countries. However, since the early 1990s, the increased interest of developing countries in nuclear power, mainly in Asia, has resulted in intensified efforts in development of small and medium sized reactors (SMRs). Also, in industrialized countries, electricity market deregulation is calling for power generation flexibility that SMRs may offer. Apart from electricity generation, SMRs are of particular interest for non-electrical applications of nuclear energy, such as desalination of seawater and district heating. In recognition of the current global interest in small and medium sized reactors this seminar was convened to provide a forum for the exchange of information by experts and policy makers from industrialized and developing countries on the technical, economic, environmental, and social aspects of SMR development and implementation in the 21st century, and to make this information available to all interested IAEA Member States. Keynote addresses also provided information on global energy demand and supply and international trends impacting the development and introduction of SMRs. Two hundred forty seven attendees from 39 countries and 5 international organizations participated in the seminar. The majority of the participants were from developing countries. The seminar not only provided valuable up to date information on SMRs, it also highlighted the importance of continued international co-operation in the development and application of nuclear power for peaceful uses throughout the world.

Small and medium sized reactors: Status and prospects. Proceedings

International Nuclear Information System (INIS)

2002-01-01

During the early years of nuclear power deployment, the plants entering service were dominated by what are now considered small (less than 300 MW(e)) and medium (300 to 700 MW(e)) reactors. In the late 1970s, the balance shifted to larger size plants to serve the requirements of industrialized countries. However, since the early 1990s, the increased interest of developing countries in nuclear power, mainly in Asia, has resulted in intensified efforts in development of small and medium sized reactors (SMRs). Also, in industrialized countries, electricity market deregulation is calling for power generation flexibility that SMRs may offer. Apart from electricity generation, SMRs are of particular interest for non-electrical applications of nuclear energy, such as desalination of seawater and district heating. In recognition of the current global interest in small and medium sized reactors this seminar was convened to provide a forum for the exchange of information by experts and policy makers from industrialized and developing countries on the technical, economic, environmental, and social aspects of SMR development and implementation in the 21st century, and to make this information available to all interested IAEA Member States. Keynote addresses also provided information on global energy demand and supply and international trends impacting the development and introduction of SMRs. Two hundred forty seven attendees from 39 countries and 5 international organizations participated in the seminar. The majority of the participants were from developing countries. The seminar not only provided valuable up to date information on SMRs, it also highlighted the importance of continued international co-operation in the development and application of nuclear power for peaceful uses throughout the world

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

OpenAIRE

Cristini Annalisa; Gaj Alessandro; Labory Sandrine; Leoni Riccardo

2003-01-01

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

Sustainability and Small to Medium Sized Enterprises--How to Engage Them

Science.gov (United States)

Condon, Linda

2004-01-01

Small and medium sized enterprises (SMEs) have a major advantage over larger organisations in regard to addressing sustainability issues--their size means they are able to react very quickly to changes in the business environment. They are disadvantaged, however, by lack of information on marketplace changes that make sustainability an opportunity…

Regulation of Small and Medium-Sized Business Development in Russia: Problems and Solutions

Directory of Open Access Journals (Sweden)

Lyudmila Yuryevna Bogachkova

2015-12-01

Full Text Available The authors prove that despite the active state policy carried out since the second half of the 2000s and aimed at supporting small and medium-sized business in the Russian Federation, the current level of development of this economic sector is insufficient. The present paper characterizes the modern structure of small and medium-sized business. The authors show that the main problems hindering its growth are conditioned by low market demand, large tax deductions, numerous administrative barriers, lack of funding and state support. On the basis of the official data of Russian Federal State Statistics Service on theresults of annual surveys of entrepreneurs, the authors revealed the factors that prevented innovation situation in the country have stable negative impact on MSB, while the impact of such factors as imperfect legal and regulatory framework, investment risks, low profitability and inadequate state of technological infrastructure is relatively nonsignificant. The authors describe systemwide and resource measures of state regulation of small and medium-sized business. The system-wide measures include preferential access to production facilities and equipment, special tax regimes, administrative control. The measures of resource support to entrepreneurs consist in subsidizing the lease payments and interest rates on loans for the modernization of production; grant support, the establishment of microfinance organizations and guarantee funds, the development of business support infrastructure. The authors describe the forms of these measures implementation in 2013 and the main directions of improving the state regulation of small and medium-sized business, including the reduction of tax burden and facilitation of taxation procedures, the reduction of administrative barriers and ensuring access of small and medium-sized enterprises to government orders and technological infrastructure.

Factors that influence the rejection of new manufacturing technologies and concepts

Science.gov (United States)

Kristen G. Hoff; Timothy J. Greene; Timothy J. Greene

1998-01-01

New manufacturing technologies or concepts often are adopted to improve a firm's competitive advantage over other firms in the same industry. The benefits that a firm expects to receive as a result of that adoption are presumed to outweigh the risk factors that accompany the adoption of a new manufacturing technology. Much research has been conducted to...

Cellular Manufacturing System with Dynamic Lot Size Material Handling

Science.gov (United States)

Khannan, M. S. A.; Maruf, A.; Wangsaputra, R.; Sutrisno, S.; Wibawa, T.

2016-02-01

Material Handling take as important role in Cellular Manufacturing System (CMS) design. In several study at CMS design material handling was assumed per pieces or with constant lot size. In real industrial practice, lot size may change during rolling period to cope with demand changes. This study develops CMS Model with Dynamic Lot Size Material Handling. Integer Linear Programming is used to solve the problem. Objective function of this model is minimizing total expected cost consisting machinery depreciation cost, operating costs, inter-cell material handling cost, intra-cell material handling cost, machine relocation costs, setup costs, and production planning cost. This model determines optimum cell formation and optimum lot size. Numerical examples are elaborated in the paper to ilustrate the characterictic of the model.

Adoption of ISO 14001 Standards in Indian Manufacturing Firms

NARCIS (Netherlands)

Turaga, Rama Mohana R.; Gupta, Vishal

Voluntary environmental initiatives (VEIs) by firms are often viewed as important for environmental management in developing countries such as India with weak regulatory institutions and poor enforcement of environmental laws. Past research shows that while VEIs may not be able to fully substitute

Managers' Understanding of Workplace Health Promotion within Small and Medium-Sized Enterprises: A Phenomenological Study

Science.gov (United States)

Moore, Ann; Parahoo, Kader; Fleming, Paul

2011-01-01

Objective: This study aimed at exploring managers' understanding of workplace health promotion and experiences of workplace health promotion activity within small and medium-sized enterprises. Design: A Heideggerian interpretive phenomenological methodology was adopted. Setting: This study was undertaken with small and medium-sized enterprise…