Access to Finance, Bureaucracy, and Capital Allocation Efficiency

2021 ◽  
Author(s):  
Wenbin Cao ◽  
Xiaoman Duan ◽  
Xu Niu
Keyword(s):  
Capital Allocation ◽  
Access To Finance ◽  
Allocation Efficiency ◽  
Capital Allocation Efficiency

Impact of capital enrichment on resource allocation efficiency in China’s manufacturing industry

2021 ◽  
pp. 1-17
Author(s):  
Lina Ma ◽  
Fengju Xu ◽  
Lihua Wang ◽  
Akther Taslima
Keyword(s):  
Resource Allocation ◽  
Manufacturing Industry ◽  
Evaluation Model ◽  
Development Trend ◽  
Inhibitory Effect ◽  
Capital Allocation ◽  
Curvilinear Relationship ◽  
Allocation Efficiency ◽  
Capital Allocation Efficiency ◽  
Resource Allocation Efficiency

Capital enrichment (CE) results from capital flows, which reflect the capital distribution among different regions and industries. This paper constructs the evaluation model of resource allocation efficiency from the perspective of capital and innovation resources. It expounds on CE’s theoretical mechanism by using the panel data from 2011 to 2018 for system GMM estimation. It finds that the manufacturing capital allocation efficiency (CAE) and innovation resource allocation efficiency (IRAE) show a volatile development trend. Both static and dynamic panel models show that there is a significant U-shaped curvilinear relationship between CE and CAE, CE and IRAE. CE’s inhibitory effect on CAE and IRAE decreases with the improvement of CE until it exceeds the critical value of 8.27 and 8.93. After that, its impact on CAE and IRAE changes from negative to positive.

The impacts of internal capital allocation efficiency on R&D investments: evidence from China

2020 ◽  
pp. 1-7
Author(s):  
Hai-Yun Ren ◽  
Ching-Chi Hsu ◽  
Gen-Fu Feng ◽  
Jing Jia ◽  
Wei-Che Tsai
Keyword(s):  
Capital Allocation ◽  
Allocation Efficiency ◽  
Internal Capital ◽  
Capital Allocation Efficiency

scholarly journals IMPACT OF CORPORATE SOCIAL RESPONSIBILITY AND CAPITAL ALLOCATION EFFICIENCY ON FAMILY AND NON -FAMILY FIRMS

2019 ◽  
Vol 7 (4) ◽  
pp. 617-633
Author(s):  
Astrid Rudyanto
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Family Firms ◽  
Stock Exchange ◽  
Capital Allocation ◽  
Slack Resources ◽  
Allocation Efficiency ◽  
Thomson Reuters ◽  
Capital Allocation Efficiency ◽  
Corporate Social

Purpose of the study: Purpose of this study was to examine how family firms differ from non-family firms in the relationship between corporate social responsibility (CSR) and capital allocation efficiency, including slack resources as moderating variables. Methodology: This study used moderated regression analysis and subgroup analysis of nonfinancial companies listed in Indonesia Stock Exchange from 2011-2016. The data were gathered from Thomson Reuters and analyzed using STATA 14 unbalanced panel fixed effect. Main Findings: The results show that family firms and non-family firms are different in relation to CSR performance and capital allocation efficiency. When family firms are efficient, there is no relationship between CSR, capital allocation efficiency, and slack resources. When family firms are inefficient, CSR performance negatively affects capital allocation efficiency and slack resources reduce this negative effect. Implications: It is implied that trade-off theory only applies to non-family firms and inefficient family firms. Family firms are more efficient in allocating resources for CSR. Therefore, shareholders shall not be afraid of investing in family firms.

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