The joint effects of financial development and the business environment on firm growth: Evidence from Vietnam

The paper examines sector specific characteristics to analyse the factors affecting the sustainability of the economies of Dubai and rest of the United Arab Emirates (UAE). The study applies system design to analyse the research questions. Consequently, Zellner’s seemingly unrelated regressions (SURE) technique is used to examine the relative contribution of sectors to the economies Dubai, as an individual Emirate, and the rest of UAE as a group of Emirates using time series sectoral level data for 2001–2015. The study shows that there exists positive interdependencies between Dubai and rest of UAE economies. This signifies that the core competencies across various sectors in Dubai and rest of UAE economies need to be promoted further to have overall diversified impact on UAE economy. The positive sizable impact of the finance sector in Dubai and negative sizable impact in the rest of the UAE provide many opportunities for designing diversification programs for sustained economic development of the entire UAE economy. The small sample size, non-availability of detailed sectoral data in four of the seven emirates constrained the scope of the study for generalization to other economies in the middle east. The study findings are very crucial for identifying structural reforms, to strengthen competitiveness and accelerate private sector-led job creation for nationals, potential on further opening up foreign direct investment (FDI), improving selected areas of the business environment, and easing access to finance for start-ups and SMEs in both the economies. There are very few studies, which have researched the sector specific characteristics to explain the factors affecting the sustainability of the economies of Dubai and the rest of UAE. The study provides insights to the UAE policy makers, for enhancement of policies through development of the key sectors that influence the performance of the two economies. Despite being independent entities though, the seven emirates of the UAE are economically interdependent. Studies on such interactions add unique value to the literature. Keywords: SURE, GDP, Dubai, UAE, Sectoral Evaluation, Financial development.

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A PROPOSED THEORETICAL FRAMEWORK ON STRATEGIES FOR KLANG VALLEY MALAYSIAN QUANTITY SURVEYING CONSULTANCY FIRMS TO ACHIEVE PROFITABILITY

International Journal of Law, Government and Communication ◽

10.35631//ijlgc.521001 ◽

2020 ◽

Vol 5 (21) ◽

pp. 01-12

Author(s):

Bee-Ling Chong ◽

Kai-Chen Goh ◽

Tien-Choon Toh

Keyword(s):

Construction Industry ◽

Firm Growth ◽

Global Financial Crisis ◽

Theoretical Framework ◽

Business Environment ◽

Construction Firms ◽

Consulting Firms ◽

Klang Valley ◽

Quantity Surveying ◽

The Global Financial Crisis

There is a lack of research studies showing the specific practices that enable QS consultancy firms to achieve profitability in Malaysia’s construction industry. As firm profitability is expected to have a positive and significant impact on firm growth, this put Malaysia's QS consulting firms at risk and affected firm growth if the problem they face remains unresolved. Despite the current Covid-19 pandemic has led to the global financial crisis, weaker global growth is still a big issue to developing countries including Malaysia. Construction firms such as QS consultancy firms face a lot of challenges due to the globalisation and competitiveness of the construction industry. Quantity surveying (QS) consultancy firms need to adopt suitable strategies to survive and grow in an evolving business environment. Thus, this paper focuses on the theoretical framework of the strategies for QS consultancy firms.

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System and Neural Network Analysis of Economic and Financial Development – A case study of Dubai and rest of UAE

International Review of Advances in Business Management and Law ◽

10.30585/irabml.v1i1.72 ◽

2018 ◽

Vol 1 (1) ◽

pp. 51-67

Author(s):

Genanew B Worku ◽

Ananth Rao

Keyword(s):

Neural Network ◽

Financial Development ◽

Small Sample Size ◽

Core Competencies ◽

Business Environment ◽

Small Sample ◽

Factors Affecting ◽

Jel C32 ◽

Using Data ◽

Start Ups

The study examines the factors affecting the economic and financial development by applying Zellner’s seemingly unrelated regressions (SURE) and Neural Network techniques. It applies multivariate and neural network frameworks for analysing the GDP of Dubai and rest of UAE using data for 2001–2015. The study shows that there exists positive interdependencies between Dubai and rest of UAE economies. This signifies that the core competencies across various sectors in Dubai and rest of UAE economies need to be promoted further to have overall diversified impact on UAE economy. The positive sizable impact of the finance sector in Dubai and negative sizable impact in the rest of the UAE provide many opportunities for designing diversification programs for sustained economic development of the entire UAE economy. The small sample size, non-availability of detailed sectoral data in four of the seven emirates constrained the scope of the study for generalization to other economies in the Middle East. The study findings are crucial for identifying structural reforms, to strengthen competitiveness and accelerate private sector-led job creation for nationals, potential on further opening up foreign direct investment (FDI), improving selected areas of the business environment, and easing access to finance for start-ups and SMEs in both the economies. JEL: C32, C52, D85, N15, N25

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How corporate cultures coevolve with the business environment: The case of firm growth crises and industry evolution

Journal of Economic Behavior & Organization ◽

10.1016/j.jebo.2010.09.010 ◽

2010 ◽

Vol 76 (3) ◽

pp. 465-480 ◽

Cited By ~ 17

Author(s):

Christian Cordes ◽

Peter J. Richerson ◽

Georg Schwesinger

Keyword(s):

Firm Growth ◽

Business Environment ◽

Industry Evolution

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The Role of High-Tech Entrepreneurship on Regional Development

Nascent Entrepreneurship and Successful New Venture Creation - Advances in Business Strategy and Competitive Advantage ◽

10.4018/978-1-5225-2936-1.ch012 ◽

2018 ◽

pp. 259-271

Author(s):

Maria del Mar Miralles-Quiros ◽

Jose Luis Miralles-Quiros ◽

Julio Daza-Izquierdo

Keyword(s):

Regional Development ◽

Firm Growth ◽

High Growth ◽

Business Environment ◽

Growth Potential ◽

High Tech ◽

Policy Makers ◽

Global Recession ◽

Development Policies

In a globalized business environment characterized by the existence of mature sectors, it is essential to focus our attention on those firms with low entry barriers as well as high growth potential in order to design adequate regional development policies. In this context, we analyze firm growth in Brazilian technology-based companies over the 2002-2013 period testing the Law of Proportionate Effect which allows us to provide useful information for policy makers. This study confirms that firm growth is not a random process and, most importantly, we observe that there has been a positive and significant effect of more profitable firms on firm growth in years of global recession. Consequently, we highlight that public policies should be focused on small, profitable and less indebted firms of the technology-based sector because they would contribute to business dynamism and job creation.

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The contribution of industry to the Greek economy: facts and prospects

Economic bulletin ◽

10.52903/econbull20205202 ◽

2020 ◽

pp. 29-67

Author(s):

Nikos Vettas ◽

◽

Konstantinos Peppas ◽

Sophia Stavraki ◽

Michail Vasileiadis

Keyword(s):

Firm Growth ◽

Banking Sector ◽

Negative Impact ◽

Business Environment ◽

Value Chains ◽

Energy Costs ◽

Positive Effects ◽

Industrial Sectors ◽

The Impact ◽

The Eu

The scope of the study is to examine the impact of various factors on the growth of Greek industrial firms, in order to identify those that can contribute to a gradual recovery of Industry in the coming years. In this context, we estimate a firm growth model with the Quantile Regression econometric method, using an unbalanced panel dataset of 18,143 companies that were active in Greek Industry over the period 2005-2018. The explanatory variables used are firm-, sectorand macroeconomic environment-specific. Further, we estimate the effects on firm growth from the structural reforms related to business environment and from the sector’s participation in global value chains within or beyond the EU. The estimations highlight the positive effect on firm growth from exports and the reduction in the time and cost required to export, the availability of funding from the banking sector and the stock market, as well as from the reduction in the cost and procedures to start a business. Positive effects also stem from the participation of the faster-growing Greek industrial companies in value chains mainly outside the EU. By contrast, high corporate debt to banks, adverse macroeconomic conditions, energy costs and the participation of businesses other than the faster-growing ones in value chains in EU countries have a negative impact on firm growth. The latter effect is possibly due to the strong competition that these businesses face in the European markets. Some differences appear when estimates are made for the subsamples of high and low performance industrial sectors in terms of economic activity, financial efficiency, innovativeness and extroversion. The study includes policy recommendations based on the results of the estimations, to support growth in Industry. These concern the reduction of energy costs, the change in the depreciation method for investments in machinery and equipment, as well as the financing of the sector.

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