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Displaying results 1 to 13 of 13.

  1. Energy prices, generators, and the (environmental) performance of manufacturing firms
    evidence from Indonesia
    Author: Greve, Hannes; Kis-Katos, Krisztina; Renner, Sebastian
    Published: 2021
    Publisher:  Verein für Socialpolitik, [Köln]

    Passing federal environmental policy reform is a challenge as the approval of interest groups such as consumers and state-level governments is often a prerequisite. Among others, the burden sharing's progressivity has a large impact on reform... more

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    Passing federal environmental policy reform is a challenge as the approval of interest groups such as consumers and state-level governments is often a prerequisite. Among others, the burden sharing's progressivity has a large impact on reform approval. We investigate how carbon tax payments by states to a federal authority are influenced by differences in technological emission intensity and wealth and show how they can turn out to be at the expense of poor states. We show that a uniform federal carbon tax that is endorsed by all states with equal per capita transfers can theoretically put a higher burden on poorer states than richer states. The opposite applies for transfers based on historical emissions (sovereignty transfers) which reduce the burden of emissionintensive states. We test our results numerically in a general equilibrium model with a vertical federalism governance structure calibrated to the European Union. Our simulations show that a federal minimum emissions tax with sovereignty transfers is twice as high as for equal per capita transfers and also has a progressive effect.Generator use is widespread among firms in developing and emerging economies, including Indonesia, shielding them from unreliable and insufficient electricity supply. This, however, makes these firms more vulnerable to fuel price increases, as well as more emission intensive. We exploit variation in policy-induced fossil fuel and electricity tariff adjustments using a rich panel data set of large manufacturing firms to estimate the impact of energy price increases on generator-reliant firms versus those not relying on generators. We find that generator-reliant firms reduce output and value added by around 0.6-0.8 percent in response to a ten percent fossil fuel price increase, and adjust inputs flexibly: Material input and labor demand fall by 0.7 and 0.5 percent, respectively. Because firms dis-adopt generator use in response to higher fuel prices, emission and energy intensity of production declines by around 0.7-0.8 percent on average. Electricity price increases, in contrast, are absorbed and do not lead to differential input adjustments in the short term. As firms that use generators also have a higher cost share of grid electricity, value added and labor productivity decline to a greater extent compared to other firms. In addition, rising electricity prices further incentivize inefficient generator use.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/242382
    Series: Jahrestagung 2021 / Verein für Socialpolitik ; 71
    Subjects: energy prices; manufacturing sector; firm performance; emission intensity; generators
    Scope: 1 Online-Ressource (circa 24 Seiten), Illustrationen
  2. External financial dependence and firms' crisis performance across Europe
    Author: Eppinger, Peter S.; Neugebauer, Katja
    Published: January 11, 2021
    Publisher:  Universitätsbibliothek Tübingen, Tübingen

    How do financial market conditions affect real economic performance? Empirical investigations of this question have often relied on measures of external financial dependence (EFD) that are constructed using U.S. data and applied to other countries... more

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    How do financial market conditions affect real economic performance? Empirical investigations of this question have often relied on measures of external financial dependence (EFD) that are constructed using U.S. data and applied to other countries under the assumption of a stable industry ranking across countries. This paper exploits unique, comparable survey data from seven European countries to show that correlations of EFD across countries are weak, casting some doubt on this assumption. We then use the novel survey-based EFD index to show that the global financial crisis had a disproportionately negative impact on the real performance of financially dependent firms. Further investigations highlight the importance of supply chains in propagating the credit shock.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10900/111396
    hdl: 10419/229957
    Series: University of Tübingen Working Papers in Business and Economics ; no. 141
    Subjects: Finanzkrise; External financial dependence; financial constraints; financial crisis; firm performance
    Scope: 1 Online-Ressource (18 Seiten)
  3. Productivity effects of processing and ordinary export market entry: a time-varying treatments approach
    Author: Girma, Sourafel; Görg, Holger
    Published: [2021]
    Publisher:  Kiel Centre for Globalization, [Kiel]

    China's policy of encouraging export processing has been the topic of much discussion in the academic literature and policy debate. We use a recently developed econometric approach that allows for time varying "treatments" and estimate economically... more

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    China's policy of encouraging export processing has been the topic of much discussion in the academic literature and policy debate. We use a recently developed econometric approach that allows for time varying "treatments" and estimate economically and statistically significant positive causal effects of entering into export processing and ordinary export markets on subsequent firm level productivity. These productivity effects are shown to be larger than those accruing to firms who enter into ordinary exporting. Interestingly, the estimation of quantile treatment effects shows that the positive effects do not accrue similarly to all types of firms, but are strongest for those at the low to medium end of the distribution of the productivity variable. We also find that export processors gain more when entering the industrialised North rather than the South, while this does not appear to matter much for ordinary exporting.

     
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    Language: English
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    hdl: 10419/232952
    Series: KCG working paper ; no. 23 (March 2021)
    Subjects: export processing; firm performance; China; time varying treatments
    Scope: 1 Online-Ressource (circa 28 Seiten), Illustrationen
  4. Does the legal form matter for firm performance in the MENA Region?
    Author: Ahmad, Issam Abdo; Fakih, Ali
    Published: March 2021
    Publisher:  IZA - Institute of Labor Economics, Bonn, Germany

    This paper attempts to study the relationship between firm legal form and firm performance in the Middle East and North Africa Region (MENA) using the World Bank Enterprise Survey (WBES) database. Our analysis shows that open shareholding, closed... more

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    This paper attempts to study the relationship between firm legal form and firm performance in the Middle East and North Africa Region (MENA) using the World Bank Enterprise Survey (WBES) database. Our analysis shows that open shareholding, closed shareholding, partnership, and limited partnership companies demonstrate an advantage in terms of annual sales and annual productivity growth rates over sole proprietorship firms, and that medium-sized and large-sized firms also demonstrate an advantage over small ones. Our analysis also shows that foreign ownership, exporting activities, the usage of the web in communication with clients and suppliers, and the presence of full-time workers positively affect firm performance. These findings are robust when running the analysis for firms with female participation in ownership. This paper provides directions for strategists targeting at improving the performance of firms.

     
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    hdl: 10419/236238
    Series: Discussion paper series / IZA ; no. 14207
    Subjects: legal form; firm performance; MENA region
    Scope: 1 Online-Ressource (circa 32 Seiten)
  5. Patenting in 4IR technologies and firm performance
    Author: Benassi, Mario; Grinza, Elena; Rentocchini, Francesco; Rondi, Laura
    Published: 2021
    Publisher:  European Commission, Seville, Spain

    We investigate whether firm performance is related to the accumulated stock of technological knowledge associated with the Fourth Industrial Revolution (4IR) and, if so, whether the firm's history in 4IR technology development affects such a... more

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    We investigate whether firm performance is related to the accumulated stock of technological knowledge associated with the Fourth Industrial Revolution (4IR) and, if so, whether the firm's history in 4IR technology development affects such a relationship. We exploit a rich longitudinal matched patent-firm data set on the population of large firms that filed 4IR patents at the European Patent Office (EPO) between 2009 and 2014, while reconstructing their patent stocks from 1985 onwards. To identify 4IR patents, we use a novel two-step procedure proposed by EPO (2020), based on Cooperative Patent Classification (CPC) codes and on a full-text patent search. Our results show a positive and significant relationship between firms' stocks of 4IR patents and labour and total factor productivity. We also find that firms with a long history in 4IR patent filings benefit more from the development of 4IR technological capabilities than later applicants. Conversely, we find that firm profitability is not significantly related to the stock of 4IR patents, which suggests that the returns from 4IR technological developments may be slow to be cashed in. Finally, we find that the positive relationship with productivity is stronger for 4IR-related wireless technology and for AI, cognitive computing and big data analytics.

     
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    hdl: 10419/244292
    Series: JRC working papers on corporate r&d and innovation ; no 2021, 1
    Subjects: Fourth Industrial Revolution (4IR); patent applications; technology development; firm performance; longitudinal matched patent-firm data
    Scope: 1 Online-Ressource (circa 44 Seiten)
  6. Female managers and firm performance
    evidence from the Caribbean countries
    Author: Martínez-Zarzoso, Inmaculada; Lo Bue, Maria C.
    Published: June 2021
    Publisher:  United Nations University World Institute for Development Economics Research, Helsinki, Finland

    This paper investigates whether firm performance differs significantly when comparing firms with female and male top managers in the Caribbean region. We use survey data with detailed information on gender for firms in 13 Caribbean countries. Our... more

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    This paper investigates whether firm performance differs significantly when comparing firms with female and male top managers in the Caribbean region. We use survey data with detailed information on gender for firms in 13 Caribbean countries. Our methodology is based on Blinder- Oaxaca decomposition and propensity score matching econometric techniques. These allow us to ascertain whether there is a gender gap in labour productivity in these countries and the extent to which the characteristics of the management team, the firm, and/or environmental constraints hamper the normal development of production or service activities. The results from the regression analysis indicate that female-managed firms are, on average, 16 per cent less productive than male-managed firms. This difference is reduced to 8 per cent when using propensity score matching and when comparing firms and management teams with similar characteristics. Moreover, having some gender diversity in the management team contributes to increasing labour productivity.

     
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    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789292670320
    Other identifier:
    hdl: 10419/243418
    Series: WIDER working paper ; 2021, 92
    Subjects: Caribbean region; firm performance; gender gap; propensity score matching
    Scope: 1 Online-Ressource (circa 32 Seiten), Illustrationen
  7. Favoritism and firms
    micro evidence and macro implications
    Author: Asatryan, Zareh; Baskaran, Thushyanthan; Birkholz, Carlo; Gomtsyan, David
    Published: 2021
    Publisher:  ZEW - Leibniz Centre for European Economic Research, Mannheim, Germany

    We study the economic implications of regional favoritism, a form of distributive politics that redistributes resources spatially within countries. We use a large sample of enterprise surveys spanning across many low and middle income countries, and... more

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    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    We study the economic implications of regional favoritism, a form of distributive politics that redistributes resources spatially within countries. We use a large sample of enterprise surveys spanning across many low and middle income countries, and utilize transitions of national political leaders for identification. We document strong evidence of regional favoritism among firms located in close vicinity to leader’s birthplaces but not in other regions, nor in home regions before leader’s rise to power. Firms in favored regions become substantially larger in sales and employment, and also produce more output per worker, pay higher wages and, more generally, have higher total factor productivity. Furthermore, evidence from several mechanisms suggests that leaders divert public resources into their home regions by generating higher demand for firms operating in non-tradable sectors. A simple structural model of resource misallocation that is calibrated to match our empirical estimates implies that favoritism generates aggregat eoutput loss of 0.5% annually.

     
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    hdl: 10419/232945
    Series: Discussion paper / ZEW ; no. 21, 031 (03/2021)
    Subjects: Regional favoritism; firm performance; enterprise surveys; resource misallocation
    Scope: 1 Online-Ressource (37, [3] Seiten), Illustrationen
  8. Venture capital and growth of young high-tech firms in the EU
    a systematic review of the empirical evidence
    Author: Pantea, Smaranda; Tkacik, Marcel
    Published: [2021]
    Publisher:  $nVŠE, Faculty of International Relations, [Praha]

    This study contributes to the debate on VC-related policies that aim to support the growth of young high-tech firms in the EU. The study provides a systematic review of the results of 22 firm-level studies that estimate causal effects of VC using... more

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    This study contributes to the debate on VC-related policies that aim to support the growth of young high-tech firms in the EU. The study provides a systematic review of the results of 22 firm-level studies that estimate causal effects of VC using counterfactual impact evaluation methods and data from 12 EU countries. The results show a large preponderance of positive effects of VC on employment, revenues and assets growth and on reducing financial constraints, but mixed effects on innovation and other aspects of firm performance. They suggest that private VC tends to have larger effects than government VC, but that the latter plays an important role as a complement to private VC. The review finds supporting evidence for the two main channels highlighted by the literature: provision of financial resources and of nonfinancial resources (know-how and networks), although the evidence on the latter is scarce. Based on the results of the review and on the current landscape of VC in the EU, the study highlights important gaps in the literature and policy implications.

     
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    hdl: 10419/297884
    Series: Working paper series / [VŠE, Faculty of International Relations] ; 2021, 02
    Subjects: venture capital; firm performance; start-ups; innovation; systematic literature review; European Union
    Scope: 1 Online-Ressource (circa 26 Seiten), Illustrationen
  9. Gender and age diversity
    does it matter for firms' productivity?
    Author: Challe, Laetitia; Gilles, Fabrice; L'Horty, Yannick; Mihoubi, Ferhat
    Published: [2021]
    Publisher:  Érudite laboratoire d'économie Paris-Est, [Marne-la-Vallée]

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    Series: Series of ERUDITE working papers ; no 2021, 10
    Subjects: female and young workers; firm performance; public policy; instrumental variables
    Scope: 1 Online-Ressource (circa 60 Seiten), Illustrationen
  10. Consequences of a massive refugee influx on firm performance and market structure
    Author: Akgündüz, Yusuf Emre; Bağır, Yusuf Kenan; Cilasun, Seyit Mümin; Kırdar, Murat Günay
    Published: [2021]
    Publisher:  Central Bank of the Republic of Turkey, Head Office, Structural Economic Research Department, Ankara, Turkey

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    Series: Working paper / Türkiye Cumhuriyet Merkez Bankası ; no: 21, 01 (January 2021)
    Subjects: refugees; firm performance; market structure; sales; informality; exports; migrant business networks
    Scope: 1 Online-Ressource (circa 66 Seiten), Illustrationen
  11. Effects of business improvement districts on firm performance, place attractiveness, and urban safety
    Author: Daunfeldt, Sven-Olov; Mihaescu, Oana; Rudholm, Niklas
    Published: [2021]
    Publisher:  Institute of Retail Economics, [Stockholm]

    Business improvement districts (BIDs) have emerged as possible solutions for the revitalization of urban areas characterized by economic decline. Using a difference-in differences model, we investigate the effects of a voluntary Swedish BID programme... more

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    Business improvement districts (BIDs) have emerged as possible solutions for the revitalization of urban areas characterized by economic decline. Using a difference-in differences model, we investigate the effects of a voluntary Swedish BID programme in five cities on firm performance, urban safety, and place attractiveness - both within and outside the BID. We find that the BID programme increased labour productivity for incumbent firms within the BID by 7.62%, mainly through an increase in revenues. However, the positive effect of the BID programme on firm performance is largely transitory, decreasing sharply during the third year and then becoming insignificant. We find no statistically significant impacts on firm performance outside the geographical boundaries of the BIDs. The results also suggest that fewer crimes were committed in the BIDs, as the estimates for all years are negative, though they are significant only for the fourth year after BID implementation. Finally, we detect no statistically significant effects of the BID programme on property values either within or outside the designated BIDs.

     
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    hdl: 10419/246778
    Series: HFI working paper ; no 24
    Subjects: Business improvement district; public–private partnerships; firm performance; labour productivity; property values; crime; difference-in-differences
    Scope: 1 Online-Ressource (circa 36 Seiten), Illustrationen
  12. No successor, no success?
    the impact of a little son on business performance
    Author: Kodama, Naomi; Murakami, Yoshiaki; Tanaka, Mari
    Published: [2021]
    Publisher:  RIETI, [Tokyo, Japan]

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    Series: RIETI discussion paper series ; 21-E, 013 (March 2021)
    Subjects: expectation; small and medium enterprises; succession decision; firm performance; corporate decision-making
    Scope: 1 Online-Ressource (circa 29 Seiten)
  13. The impact of patient capital on job quality, investments and firm performance
    cross-country evidence on long-term finance
    Author: Sommer, Christoph
    Published: 2021
    Publisher:  Deutsches Institut für Entwicklungspolitik, Bonn

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