Firm Performance and Exports: Evidence from the Romanian Wine Industry

2020 ◽  
Vol 15 (2) ◽  
pp. 207-228
Author(s):  
Albert Lessoua ◽  
Mihai Mutascu ◽  
Camélia Turcu
Keyword(s):  
Firm Performance ◽  
Financial Performance ◽  
Firm Size ◽  
Red Wine ◽  
Wine Industry ◽  
Firm Level ◽  
Main Determinants ◽  
The Impact ◽  
Jel Classifications ◽  
Regional Wine

AbstractThis paper examines the impact of exports and its main determinants on the financial performance of the Romanian wine industry. We draw on a dataset consisting of mixed firm-level (i.e., 207 companies) data, Google Trends data, and regional variables covering the period from 2009 to 2017. We show that Romanian wine exports, at the firm level, are positively affected by regional wine yields (especially in the case of red wine varieties), temperature, and firm agglomeration, and negatively impacted by firm size. We also find a close positive correlation between financial performance and exports. (JEL Classifications: F61, L66, C23)

Moderating the impact of e-commerce expenses on financial performance in US upper upscale hotels

2016 ◽  
Vol 23 (2) ◽  
pp. 429-447 ◽  
Author(s):  
Agnes L. DeFranco ◽  
Cristian Morosan ◽  
Nan Hua
Keyword(s):  
Firm Performance ◽  
Electronic Commerce ◽  
Financial Performance ◽  
Firm Size ◽  
Electronic Devices ◽  
Hotel Industry ◽  
Extant Literature ◽  
The Impact ◽  
The Relationship

The heavily fragmented hotel industry, embracing the changes in their guests’ use of electronic devices, has spent considerable resources to incorporate electronic commerce (e-commerce) practices. The extant literature offers inconclusive findings with regard to the effect of e-commerce on firm performance, especially when firm size is considered. Given the high fragmentation of size in the hotel industry, understanding its role in the deployment of e-commerce could result in substantial benefits for both hotel firms and consumers. Using the financial performance of 689 observations of over 110 hotels during 2007–2012, this study finds that e-commerce expenses positively impact firm performance, and that firm size moderates the relationship between e-commerce expenses and firm performance.

Linking ISO 9000 certification to firm performance and financial crisis: a matched sample longitudinal analysis

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Efrosini Siougle ◽  
Sophia Dimelis
Keyword(s):  
Firm Performance ◽  
Financial Crisis ◽  
Financial Performance ◽  
Iso 9000 ◽  
Matched Sample ◽  
Firm Level ◽  
Content Type ◽  
Crisis Period ◽  
Technological Differences ◽  
The Impact

PurposeThis is a longitudinal study exploring the effect of ISO 9000 certification on firm's financial performance in the pre-crisis period and the 2008 financial crisis period.Design/methodology/approachThe empirical analysis is based on a 22-year dataset with balance sheet data from 136 Greek listed firms covering the period 1992–2013. A matching technique is applied to properly estimate potential differences in the impact of ISO 9000 on firm's financial performance between the groups of certified and matched non-certified (control) firms in the entire period but, most importantly, in pre-crisis vs crisis periods, using the difference-in-differences econometric approach.FindingsThe findings indicate that certified firms exhibit significantly higher financial performance relative to the matched non-certified group in both the pre-crisis and crisis periods, which tends to persist for several years post-certification. The financial crisis has a negative and statistically significant effect on firm performance in both the certified and matched non-certified groups, which nevertheless did not differ significantly between them. Controlling for sectoral and technological differences did not harm the higher performance of certified firms relative to the matched control peers. The results remain in the same direction when the authors test the ISO 9000 effect in the sub-group of certified firms that obtained the certification at the firm-level.Originality/valueThe study is original in its sample design and hypothesis testing. The matched sample created from a sufficiently long and continuous time dataset enabled the authors to properly estimate firm performance differences of ISO 9000 between pre-crisis and crisis periods. Of additional value is the testing of sectoral/technological differences and the distinction between firm-level and plant-level certification.

scholarly journals The impact of IT investment on firm performance based on MCDM techniques

2019 ◽  
Vol 9 (5) ◽  
pp. 4344
Author(s):  
Ansar Daghouri ◽  
Khalifa Mansouri ◽  
Mohammed Qbadou
Keyword(s):  
Information Technology ◽  
Firm Performance ◽  
Financial Performance ◽  
Meta Analysis ◽  
Recent Past ◽  
Firm Level ◽  
Technology Investment ◽  
Information Technology Investments ◽  
Almost All ◽  
The Impact

In the recent past years, researchers have presented conflicting results regarding the impact of information technology investment on firm performance. Almost all studies on information technology productivity and it role for companies performance are based on data collected and meta-analysis and do not offer a methodology or prototype of analysis in any field This study presents an attempt to adopt a multi-criteria decision making approach to evaluate the non-financial performance of companies using two famous methods. Furthermore, our results try to investigate the effects of information technology investments on firms’ non-financial performance. Finding show that investment in information systems is not necessarily related to achieving a good non-financial performance at the firm level.

scholarly journals Corporate governance and financial performance of public listed companies: Pre and post implementation of the Malaysian code of corporate governance

2013 ◽  
Vol 10 (4) ◽  
pp. 355-376 ◽  
Author(s):  
Kwee Pheng Lim ◽  
Hishammudin Ismail ◽  
Uchena Cyril Eze
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Financial Performance ◽  
Performance Measures ◽  
Firm Size ◽  
Accounting Performance ◽  
Ownership Structures ◽  
Before And After ◽  
Code Of Corporate Governance ◽  
The Impact

This study examine the impact of corporate governance and ownership structures on firm performance of 293 companies listed on the Main and Second Board of Bursa Malaysia six-years before and after the implementation of Malaysian Code of Corporate Governance (MCCG) in 2001. Institutional and foreign shareholdings were found to be significantly associated with both market and accounting performance measures before and after implementation of MCCG, implying their positive roles on performance. Contrary to the recommendation by MCCG, role duality (positions of Chairman and CEO were the same person) was observed to be negatively related to accounting performance measures but in the opposite direction for market performance measures. The result is robust with respect to controls for firm size and gearing.

scholarly journals Product Line Diversification and Its Impact on Firm Performance

2021 ◽  
Vol 5 (3) ◽  
pp. 43-58
Author(s):  
Zia ur Rehman ◽  
Asad Khan ◽  
Rafique Ahmed Khuhro ◽  
Abdul Ghafoor Khan
Keyword(s):  
Firm Performance ◽  
Financial Performance ◽  
Product Line ◽  
Group Affiliation ◽  
Firm Profitability ◽  
Business Line ◽  
Diversified Firms ◽  
The Impact ◽  
Positive Effect ◽  
Better Than

The objective of the study is to measure product diversification’s impact on insurance firm’s financial performance in Pakistan. Analysis are carried out to examine how ownership structure, capitalization, group membership, firm size, diversification across business lines, industry concentration affects firm’s financial performance. Data from 2009-2019 is collected to measure the impact of diversification (entropy) on the risk- adjusted returns. Findings of the study reveal that business line diversification has strong positive effect on firm performance (for both ROA and ROE) which means that diversified firms perform better than non-diversified firms. For managers these findings are useful as they propose the need for diversification, capitalization, increase in size and group affiliation to enhance firm profitability.

scholarly journals The Effect of Workforce Birthplace Diversity on Firms: When do Migrants increase Firms’ Performance?

2021 ◽  
Author(s):  
Roberta Misuraca ◽  
Maria Carmela Annosi ◽  
Maria Rosaria Carillo ◽  
Wilfred Dolfsma
Keyword(s):  
Firm Performance ◽  
Firm Size ◽  
Positive Impact ◽  
Agriculture Sector ◽  
Business Dynamics ◽  
The Impact

Abstract Growing migration between countries and the sustained trend of globalization are changing business dynamics and creating conditions for increased workforce birthplace diversity within firms. However, few studies investigate the relationships between workforce birthplace diversity and firm performance. We address this, and also study how the impact of workplace birthplace diversity on firm performance is moderated by characteristics of the firms (firm size). We find that firm performance increases when workforce birthplace diversity increases. While larger firms perform better, smaller firms can make better use of birthplace diversity’s positive impact on firm performance. We analyzed a panel of 33,258 Italian firms operating in the agriculture sector between 2012 and 2017. Theoretical implications of our results are discussed, and further research is recommended to investigate appropriate internal mechanisms to enable firms to take advantage of workforce birthplace diversity.JEL: F22, J15, J61, Z1

Revisiting the impact of organized labor on corporate bottom lines

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Dmytro Osiichuk ◽  
Paweł Mielcarz ◽  
Julia Kavalenka
Keyword(s):  
Financial Performance ◽  
Organized Labor ◽  
Corporate Financial Performance ◽  
Firm Level ◽  
Data Set ◽  
Content Type ◽  
International Panel ◽  
Transmission Mechanisms ◽  
Credible Threat ◽  
The Impact

Purpose Relying on an international panel data set, the purpose of this paper is to quantify the economic impact of labor unionization on corporate financial performance. Design/methodology/approach Static panel regression analysis is performed for a firm-level multinational data set to elucidate the postulated empirical relationships between employee unionization and corporate performance. The transmission mechanisms intermediating the studied effects are discussed and operationalized. Findings The empirical evidence demonstrates that firms with a higher level of employee unionization spend more on wages and labor-related expenses. The concomitant downside of higher resource extraction by unions is a lower rate of net employment creation and a higher possibility of redundancy layoffs. Originality/value Overall, the authors demonstrate that by creating a credible threat of employee disobedience manifested through strikes and internal wage disputes, labor unions remain an effective mechanism of increasing employees’ bargaining power. Despite the discovered weak negative associative link between the degree of unionization and corporate financial performance, the authors perceive the overall evidence to be inconclusive on this matter.

Assessing the Value of Information Technology Investment to Firm Performance

2002 ◽  
pp. 257-278
Author(s):  
Qing Hu ◽  
Robert T. Plant
Keyword(s):  
Information Technology ◽  
Firm Performance ◽  
Financial Performance ◽  
Capital Investment ◽  
Large Scale ◽  
Performance Data ◽  
It Investment ◽  
Firm Level ◽  
It Investments ◽  
And Performance

The promise of increased competitive advantage has been the driving force behind the large-scale investment in information technology (IT) over the last three decades. There is a continuing debate among executives and academics as to the measurable benefits of this investment. The return on investment (ROI) and other performance measures reported in the academic literature indicate conflicting empirical findings. Many previous studies have based their conclusions on the statistical correlation between IT capital investment and firm performance data of the same time period. In this study we argue that the causal relationship between IT investment and firm performance could not be reliably established through concurrent IT and performance data. We further submit that it would be more convincing to infer causality if the IT investments in the preceding years are significantly correlated with the performance of a firm in the subsequent year. Using the Granger causality models and three samples of firm-level financial data, we found no statistical evidence that IT investments have caused the improvement of financial performance of the firms in the samples. On the contrary, the causal models suggest that improved financial performance over consecutive years may have contributed to the increase of IT investment in the subsequent year. Implications of these findings as well as directions for future studies are discussed.

scholarly journals Innovation and Firm Performance: The Moderating and Mediating Roles of Firm Size and Small and Medium Enterprise Finance

2020 ◽  
Vol 13 (5) ◽  
pp. 97 ◽  
Author(s):  
Ploypailin Kijkasiwat ◽  
Pongsutti Phuensane
Keyword(s):  
Firm Performance ◽  
Firm Size ◽  
Structural Equation ◽  
Small And Medium Enterprises ◽  
Partial Least Square ◽  
Least Square ◽  
Financial Capital ◽  
Medium Enterprise ◽  
Medium Enterprises ◽  
The Impact

This study examines the moderating effect of firm size on the relationship between innovation and firm performance of small and medium enterprises in 29 countries in Eastern European and Central Asia. The study also investigates whether the impact of innovation in products and processes on firm performance is affected by financial capital. The method applied is partial least square structural equation modelling. The findings indicate that firm size and the financial capital both moderate and mediate the impact of innovation on firm performance, positively or negatively. The findings have implications for decision makers by highlighting the significance of firm size and financial sources when planning to introduce innovations to enhance firm performance.

Sign in / Sign up

Export Citation Format

Share Document