scholarly journals Drivers of productivity differences in the Hungarian manufacturing sector 2014–2017

2020 ◽  
Author(s):  
Péter Juhász ◽  
Lászó Reszegi ◽  
Miklós Hajdu
Keyword(s):  
Cluster Analysis ◽  
Driving Forces ◽  
Manufacturing Sector ◽  
Financial Data ◽  
Panel Regression ◽  
Export Intensity ◽  
Foreign Investments ◽  
Lower Efficiency ◽  
Foreign Companies ◽  
Export Ratio

Earlier research proved the existence of multilayer dualities within the Hungarian Economy. Based on these findings, this paper examines the driving forces of productivity differences comparing two groups in Hungarian manufacturing sector: locally owned and foreign-owned companies. The cluster analysis and the panel regression based on financial data of 1725 firms for the period 2014 to 2017 revealed that, while crucial driving forces may match, their direction and importance differ considerably. While foreign companies have an apparent advantage in productivity, their increase in export ratio correlates with lower efficiency; in contrast, export intensity boosts the efficiency of the locally owned companies. While the proportion of highly trained workforce correlates with productivity, this effect appears to be weaker in foreign-owned companies, which signals inefficient use of intellectual resources. These results raise questions regarding the efficacy of the current Hungarian economic policy of promoting foreign investments (FDIs).

scholarly journals A Decomposition Analysis of the Korean Manufacturing Sector: Monetary vs. Physical Outputs

2021 ◽  
Vol 13 (11) ◽  
pp. 6192
Author(s):  
Junghwan Lee ◽  
Jinsoo Kim
Keyword(s):  
Energy Consumption ◽  
Energy Use ◽  
Driving Forces ◽  
Manufacturing Sector ◽  
Decomposition Analysis ◽  
Primary Energy ◽  
Intensity Effect ◽  
Activity Effect ◽  
Index Decomposition ◽  
Output Indicator

This study analyzes the changes in energy consumption of the Korean manufacturing sector using the index decomposition analysis (IDA) method. To capture the production effect based on actual physical activities, we applied the activity revaluation (AR) approach in the analysis. We also developed energy consumption data in terms of primary energy supply to consider conversion loss in the energy sector to avoid any distortions in the intensity effect. The analysis covers every manufacturing subsector in Korea over the period between 2006 and 2018. Combining two distinctive approaches from the previous literature, the AR approach and primary energy-based analysis gives us helpful findings for a climate policy. First, the overall activity effect estimated from the physical output indicator is lower than that from the monetary output indicator. The monetary indicator shows that the share of energy-intensive industries decreases, whereas the physical indicator shows the opposite. Second, in terms of energy efficiency, the intensity effect is estimated as an increasing factor of energy use, whereas inversed results are shown when we use the monetary indicator. Lastly, unlike the previous studies, the AR approach results indicate that Korean manufacturing sectors have been shifting toward an energy-intensive, so it is hard to anticipate positive intensity effects, which means decreasing energy consumption factor, for a while. These results support why analyzing the driving forces of energy consumption through the AR approach and primary energy base is highly recommended.

Transnational Corporations as the Driving Forces Behind the World's Research and Development Activity in Terms of R&D Expenditure

2019 ◽  
pp. 73-97
Author(s):  
Kamil M. Kraj
Keyword(s):  
Comparative Analysis ◽  
Research And Development ◽  
Driving Forces ◽  
Dominant Role ◽  
Science And Technology ◽  
Transnational Corporations ◽  
Financial Data ◽  
International Level ◽  
Development Activity

As discussed in the literaturę, more and more transnational corporations (TNCs) were attaching importance to research and development (R&D) activity from the 1970s through the 2000s. This growing involvement of TNCs in R&D resulted in their dominant role in global R&D expenditure. Indeed, a comparative analysis of financial data collected for the group of the 102 largest corporate R&D spenders worldwide in 2007 showed that this group of TNCs accounted for a significant share of the worlds R&D expenditure not only in 2007 alone but also in the period of 2000-2011. Moreover, a similarity between their home countries and the countries being top R&D spenders was found; however, most of these corporations were conducting their R&D at international level. Furthermore, the analysed TNCs operated mostly in technology-intensive industries, for which the foun- dations were provided by a multidisciplinary science and technology basis.

scholarly journals Business Climate Versus the Attraction of Direct Foreign Investments in Albania

2017 ◽  
Vol 4 (2) ◽  
pp. 35
Author(s):  
Dritan Shoraj ◽  
Perparim Dervishi
Keyword(s):  
Foreign Market ◽  
Business Environment ◽  
Foreign Direct Investments ◽  
Measuring Instrument ◽  
Business Climate ◽  
Foreign Investments ◽  
Chi Square ◽  
Foreign Investors ◽  
Foreign Companies

There are statistics that foreign direct investments (FDI) in Albania have significantly declined. Business climate and skill of policies to attract FDI in Albania has apparently not impacted the promotion of investments from foreign businesses. This study assesses the business environment disadvantages and the readiness and availability of foreign investors to take risks with their investments in a foreign market facing the business climate of the host country, as well as the skill or failure of the latter for long term cooperation. Some basic components of the business climate in Albania, impact and their attractiveness to foreign investors will be analyzed and assessed. The research methodology selected for this study is the quantitative one, where a number of about 100 CEO and administrators of medium and big foreign companies in Albania have been planned to be interviewed. The measuring instrument will be standardized and after data collection, a series of analyses will be built such as correlation, means, standard deviations, frequencies, Chi-square (χ2) where the value p00.5. Analysis of variables will be realized through SPSS program. The study will be closed with relevant conclusions and recommendations.

The Impact of Foreign Direct Investment on Sectoral Adjustment in the Irish Economy

1997 ◽  
Vol 160 ◽  
pp. 76-86 ◽  
Author(s):  
Frances Ruane ◽  
Holger Görg
Keyword(s):  
Foreign Direct Investment ◽  
Direct Investment ◽  
Manufacturing Sector ◽  
Foreign Firms ◽  
Export Markets ◽  
Manufacturing Plants ◽  
Foreign Companies ◽  
Fiscal Incentives ◽  
The Republic ◽  
The Impact

Foreign direct investment (FDI) has played a crucial role in the overall development of the Irish economy over the past three decades, as the Republic of Ireland, hereafter referred to as Ireland, has pursued an industrial strategy characterised by (i) promoting export-led-growth in Irish manufacturing through various financial supports and fiscal incentives, and (ii) encouraging foreign companies to establish manufacturing plants in Ireland, producing specifically for export markets. The significance of FDI for the Irish economy is now reflected in, inter alia, the significant gap between GNP and GDP; in 1994, GNP was roughly 88 per cent of GDP in Ireland. As regards the manufacturing sector, the high shares of output and employment in foreign-owned companies in Ireland also indicate the importance of foreign firms. As we discuss in some detail in Section 3, foreign companies produced roughly 69 per cent of total net output and accounted for 45 per cent of employment in Irish manufacturing industries in 1993.

Typisierung der Tarifvertragslandschaft / Identifying Types of Flexible Bargaining Agreements Using Cluster Analysis

2007 ◽  
Vol 227 (3) ◽  
Author(s):  
Wolf Dieter Heinbach ◽  
Stefanie Schröpfer
Keyword(s):  
Cluster Analysis ◽  
Collective Bargaining ◽  
Manufacturing Sector ◽  
Data Set ◽  
Different Types ◽  
And Cluster Analysis

SummaryThe introduction of opening clauses in collective wage agreements allowing firms to deviate from their collective bargaining agreements has become widely accepted for the last fifteen years. With respect to the flexibility agreed through collective bargaining, the distinctions between single collective bargaining areas of the same industry have increased. Hence, the economic idea of uniform industry-wide central collective bargaining agreements is no longer tenable. The data set of the IAW used in this article provides differentiated information about opening clauses in collective wage agreements. By means of correspondence and cluster analysis, seven groups of collective bargaining areas are identified, which differ in the type of opening clauses introduced. Over the period from 1991 until 2004, the examination of dynamic aspects of these seven groups exhibits typical paths of development towards an improved flexibility agreed through collective bargaining. Furthermore, the conjunction of the data set with the German Structure of Earnings Survey of the years 1995 and 2001 makes it possible to show the relevance of the different types of single collective bargaining areas for employment and industries of the German manufacturing sector.

scholarly journals Does ESG Disclosure Create Value to Firms? The Malaysian Case

2018 ◽  
pp. 515-521
Keyword(s):  
Social Norms ◽  
Regression Models ◽  
Financial Data ◽  
Panel Regression ◽  
Tobin’S Q ◽  
Publicly Traded ◽  
Tobin's Q ◽  
Publicly Traded Firms ◽  
Governance Disclosure ◽  
Panel Regression Models

We examine whether ESG (Environmental, Social and Governance) disclosure creates value to Malaysian firms. Based on the dataset of 37 Malaysian publicly traded firms, our results obtained from various panel regression models show that the overall ESG disclosure score and its environmental and governance pillars are positively associated with Tobin’s Q. This implies that Malaysian firms which act in accordance to social norms will be rewarded by the market. The outcomes of this research highlight the importance of non-financial data disclosure in Malaysian market.

scholarly journals Do Independent Commissioners Control the Effect of Family-Owned Business Characteristics on Dividend Policy? A Study in Indonesian Manufacturing Companies

2021 ◽  
Vol 2 (2) ◽  
pp. 55-62
Author(s):  
Ernie HENDRAWATY ◽  
Sri HASNAWATI ◽  
Lia PURNAMASARI
Keyword(s):  
Panel Data ◽  
Family Business ◽  
Dividend Policy ◽  
Fixed Effect Model ◽  
Financial Data ◽  
Panel Regression ◽  
Manufacturing Companies ◽  
Effect Model ◽  
Positive Effect

This study aims to determine the role of independent Commissioners to control the effect of family-owned business characteristics on dividend policy. This study construct panel data that estimate using panel regression with a fixed-effect model. The model is estimated using financial data of 64 Indonesian manufacturing companies that were observed from the period 2016-2018. The result showed that family-owned business characteristics have a positive effect on dividens. The Independent Commisioners were able to control the effect of family business characteristics on the dividend policy. The Independent Commissioners have a role in reducing the positive effect of family-owned businesses characteristics on dividends.

An Empirical Study on Factors Affecting the Usage of Currency Derivatives with Reference to India

2015 ◽  
Vol 3 (2) ◽  
Author(s):  
Ankita Srivastava
Keyword(s):  
Empirical Study ◽  
Financial Constraints ◽  
Foreign Currency ◽  
Driving Forces ◽  
Debt Ratio ◽  
Growth Opportunities ◽  
Factors Affecting ◽  
Export Ratio ◽  
Currency Derivatives

The present paper examines the use of currency derivatives in order to understand the driving forces behind its usage. The analysis carried on 83 non-banking Indian firms revealed that firms with greater growth opportunities and less financial constraints are more likely to use currency derivatives. This result suggests that firms might use derivatives to reduce cash flow variation that might otherwise preclude firms from investing in valuable growth opportunities. The overall analysis reveals that debt ratios i.e. foreign currency borrowing and long term debt ratio along with the income ratios like export ratio and profit before tax are the important micro-economic variables for using currency derivatives.

Determinants of Exports Behaviour of India’s Agro-processing Firms: Role of Technology, Imported Raw Materials and Logistics Infrastructure

2021 ◽  
pp. 097226292098144
Author(s):  
Suresh Ramaiah ◽  
Gopal Krishna Roy
Keyword(s):  
Raw Materials ◽  
Manufacturing Sector ◽  
Sample Selection ◽  
Export Intensity ◽  
Capital Goods ◽  
Exporting Firms ◽  
Export Behaviour ◽  
Materials Used ◽  
Managerial Quality

Despite accounting for a sizeable share in the overall output and employment of the manufacturing sector, the export potential of India’s Agro-processing firms has received less attention. This article investigates the determinants of export propensity and intensity of relatively labour-intensive agro-processing firms in India with a focus on the role of technology adopted, the proportion of imported raw materials used and status of the logistics infrastructure at the location of the firm. The article makes use of the CMIE-PROWESS dataset to obtain a cross-section of agro-processing firms for the year 2016–2017 and the Logistic Ease Across Different States (LEADS) database. The empirical strategy involves the Heckman two-step process to address the sample selection bias originating in modelling export behaviour. The article finds that the likelihood of an agro-processing firm to enter the exporting market increases with an increase in technology enhancing investment in terms of expenditure on research and development and import of capital goods. Moreover, a better level of logistics infrastructure enhances the likelihood of exporting. The likelihood of a firm to export also increases with the increase in the use of imported raw materials, firm size, age and superior managerial quality. However, the paper finds only the expenditure on imported capital goods and imported raw materials to be positively and significantly associated with the export intensity of the exporting firms.

scholarly journals Albania, the human factor and sustainable development: a lesson from the present

2011 ◽  
Vol 4 ◽  
pp. 35-41
Author(s):  
Musaraj Arta
Keyword(s):  
Sustainable Development ◽  
Economic Development ◽  
Human Resources ◽  
Driving Forces ◽  
Life Quality ◽  
Economic Structure ◽  
Direct Foreign Investment ◽  
Future Trends ◽  
Foreign Investments ◽  
Balkan Countries

Albania as all Balkan countries in general, in the past 20 years faced with deep and continuous socio-economic change which resulted not simply in a totally newly shaped economy, but also in new and unexperienced paths of human resources developments. This referring to the qualitative, quantitative and diversification terms, brings the age of new professions and connections between the academic development and advancement and the adaption with the real necessities of the labor market. Adding to this complex and mobile situation the effect on their economy of the last financial crisis, the turbulence level is expected to be increased . Practitioners and researchers must understand connections and make up different scenarios which will face with a very unpredictable environment. Not surprisingly, Albania as some other southwestern European countries, due to the low level of integration into the international financial market, their mainly domestic market for goods and services produced by them, did not suffer the same consequences as other neighboring countries. But even the effect of downsizing their economies will affect Albanian economy too, because the payment balance and foreign trade balance as well as due to the widening of globalization in its domestic economy, which Albania cannot afford to avoid any longer. At the same time, the country must take in consideration the economic structure change and its adoption with the EU countries economic structure. These two main challenges can be afforded with substantial foreign investments and the most attractive resource has proved to be the human one. Sustainable development of human resources for a national sustainable development, requires making pro-active decision regarding their development and planning. The welfare of countries more and more is not being measured by the GDP pro capita, instead it is being used the term” life quality” which calls for decision making process aiming to increase and not simply exploit, which pro-actively develops qualitative human resources . This because a major factor for development is direct foreign investment. This drives Albania as well as other Balkan countries shift from naturally gifted with human resources due to the high nativity toward having attractive human resources in terms of quality and diversity related to actual and future trends of economy structuring and development. The paper deals with issues related to economic and human development by comparing two major factors in the case of Albania: the quality of human resources, role of foreign investments in the Albanian economic development and effects of human resources have on them and the careful planning of human resources development driven by actual and future trends of economic development. At the same time, the paper analyses the necessity to link the didactic offer of universities and high schools and market driving forces.

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