scholarly journals OVERSEAS R&D ACTIVITIES AND HOME PRODUCTIVITY GROWTH: EVIDENCE FROM JAPANESE FIRM-LEVEL DATA*

2008 ◽  
Vol 56 (4) ◽  
pp. 752-777 ◽  
Author(s):  
YASUYUKI TODO ◽  
SATOSHI SHIMIZUTANI
Keyword(s):  
Productivity Growth ◽  
Japanese Firm ◽  
Firm Level ◽  
Level Data ◽  
Firm Level Data

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 Declining Dynamism, Allocative Efficiency, and the Productivity Slowdown

2017 ◽  
Vol 107 (5) ◽  
pp. 322-326 ◽  
Author(s):  
Ryan A. Decker ◽  
John Haltiwanger ◽  
Ron S. Jarmin ◽  
Javier Miranda
Keyword(s):  
Productivity Growth ◽  
Allocative Efficiency ◽  
High Growth ◽  
Firm Level ◽  
Productivity Slowdown ◽  
Level Data ◽  
Firm Level Data ◽  
Job Reallocation ◽  
Firm Activity ◽  
Growth Distribution

A large literature documents declining measures of business dynamism including high-growth young firm activity and job reallocation. A distinct literature describes a slowdown in the pace of aggregate labor productivity growth. We relate these patterns by studying changes in productivity growth from the late 1990s to the mid 2000s using firm-level data. We find that diminished allocative efficiency gains can account for the productivity slowdown in a manner that interacts with the within-firm productivity growth distribution. The evidence suggests that the decline in dynamism is reason for concern and sheds light on debates about the causes of slowing productivity growth.

scholarly journals Stylized Facts on Productivity Growth: Evidence from Firm-Level Data in Croatia

2014 ◽  
Author(s):  
Mariana Iootty ◽  
Paulo Correa ◽  
Sonja Radas ◽  
Bruno Škrinjarić
Keyword(s):  
Productivity Growth ◽  
Stylized Facts ◽  
Firm Level ◽  
Level Data ◽  
Firm Level Data

Measuring the Contribution of Intangibles to Productivity Growth: A Disaggregate Analysis of Japanese Firms

2008 ◽  
Vol 11 (02) ◽  
pp. 151-186 ◽  
Author(s):  
Pablo Gonzalo Ramirez ◽  
Toyohiko Hachiya
Keyword(s):  
Productivity Growth ◽  
Intangible Assets ◽  
Marginal Contribution ◽  
Critical Factors ◽  
Organizational Capital ◽  
Firm Level ◽  
Japanese Firms ◽  
Level Data ◽  
Firm Level Data ◽  
Disaggregate Analysis

In this study we examined Japanese firm-level data to test whether increments in intangible assets will leads to differences in productivity growth. Our results show that the marginal contribution of inputs varies a greatly among sectors, industries and depending on firm's size. Therefore, marginal increments in intangibles investments are not always associated with productivity growth suggesting that when intangibles exceed a threshold, additional investments could be inefficient. We conclude that among intangibles, firm-specific organizational capital and advertising are two of the critical factors in determining the productivity growth.

scholarly journals Heterogeneous Markups, Growth, and Endogenous Misallocation

Econometrica ◽  
2020 ◽  
Vol 88 (5) ◽  
pp. 2037-2073 ◽  
Author(s):  
Michael Peters
Keyword(s):  
United States ◽  
Market Power ◽  
Productivity Growth ◽  
Firm Dynamics ◽  
The United States ◽  
Equilibrium Outcome ◽  
Firm Level ◽  
Competitive Effects ◽  
Level Data ◽  
Firm Level Data

Markups vary systematically across firms and are a source of misallocation. This paper develops a tractable model of firm dynamics where firms' market power is endogenous and the distribution of markups emerges as an equilibrium outcome. Monopoly power is the result of a process of forward‐looking, risky accumulation: firms invest in productivity growth to increase markups in their existing products but are stochastically replaced by more efficient competitors. Creative destruction therefore has pro‐competitive effects because faster churn gives firms less time to accumulate market power. In an application to firm‐level data from Indonesia, the model predicts that, relative to the United States, misallocation is more severe and firms are substantially smaller. To explain these patterns, the model suggests an important role for frictions that prevent existing firms from entering new markets. Differences in entry costs for new firms are less important.

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