Using panel data to estimate risk effects in seemingly unrelated production functions

1992 ◽  
Vol 17 (1) ◽  
pp. 35-49 ◽  
Author(s):  
G. H. Wan ◽  
W. E. Griffiths ◽  
J. R. Anderson
Keyword(s):  
Panel Data ◽  
Production Functions ◽  
Risk Effects

Using Panel Data to Estimate Risk Effects in Seemingly Unrelated Production Functions

1992 ◽  
pp. 35-49 ◽  
Author(s):  
Guang H. Wan ◽  
William E. Griffiths ◽  
Jock R. Anderson
Keyword(s):  
Panel Data ◽  
Production Functions ◽  
Risk Effects

COMPLEMENTARITY BETWEEN TANGIBLE AND INTANGIBLE CAPITAL: EVIDENCE FROM JAPANESE FIRM-LEVEL DATA

2020 ◽  
Vol 65 (05) ◽  
pp. 1293-1321
Author(s):  
KAORU HOSONO ◽  
DAISUKE MIYAKAWA ◽  
MIHO TAKIZAWA ◽  
KENTA YAMANOUCHI
Keyword(s):  
Panel Data ◽  
Japanese Firm ◽  
Production Functions ◽  
Intangible Capital ◽  
Capital Investments ◽  
Firm Level ◽  
Level Data ◽  
Intangible Investments ◽  
Firm Level Data ◽  
Level Production

Using Japanese firm-level panel data spanning from 2000 to 2013, we estimate industry-level production functions that explicitly take into account the complementarity and substitutability between tangible and intangible capital. The estimation results show that tangible and intangible capitals are complementary in most industries although the degree of complementarity substantially varies across industries. We further find that the relation between tangible and intangible capital in the production function accounts for the relation between firm-level tangible capital and intangible capital investments. Namely, firms’ tangible investments are more strongly positively associated with intangible investments as the degree of the complementarity between the tangible and intangible assets becomes larger. These findings show the necessity to take into account the relation between the dynamics of tangible and intangible capital in terms of their complementarity for precisely understanding the mechanisms governing a firm’s growth.

scholarly journals Ownership structures and capital allocation: evidence from estimating production functions under alternative specifications

2008 ◽  
Vol 5 (2) ◽  
pp. 100-109
Author(s):  
Bersant Hobdari
Keyword(s):  
Panel Data ◽  
Production Function ◽  
Ownership Structure ◽  
Representative Sample ◽  
Capital Allocation ◽  
Managerial Discretion ◽  
Production Functions ◽  
Ownership Structures

New and rich panel data for a large and representative sample of firms are used to estimate the effect of ownership structures on capital allocation. This issue is examined in a production function framework under alternative specifications. Our estimates confirm differences in capital allocation across firm under different ownership structure. Furthermore, we find that: (i) most of Estonian firms operate at the wrong point on their production function (ii) insider owned firms suffer from under-investment, (iii) state and domestic outsider owned firms display over-investment (iv) there is evidence of widespread managerial discretion

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