scholarly journals An empirical analysis of the influence of financialization on investment in Russia

2021 ◽  
Vol 7 (3) ◽  
pp. 233-249
Author(s):  
Dmitry S. Tretyakov ◽  
Ivan V. Rozmainsky
Keyword(s):  
Panel Data ◽  
Empirical Analysis ◽  
Small Firms ◽  
Crowding Out ◽  
External Financing ◽  
Fixed Assets ◽  
Financial Investments ◽  
Internal Funds ◽  
The Impact ◽  
Physical Investment

This paper tries to estimate the impact of financialization on fixed investment in Russia. The work is carried out by using panel data based on reports of non-financial publicly listed companies for 1999–2019. The study finds that financial expenses aimed at paying interest on external financing and paying dividends — that is, focusing on shareholder value, and hence decreasing the internal funds of companies, reduce real investments. Financial incomes have shown the crowding-out effect for large companies. Financial incomes as additional “free” funds in large companies are not perceived as an opportunity to accumulate fixed assets. Managers prefer to increase ­financial investments instead of real ones. In small and medium-sized companies, financial incomes, however, drive the growth of physical investment. This is because small firms, at a particular stage in their lives, find it more profitable to invest in their own growth. The results from the general sample, without dividing by size, indicate that financialization in Russia clearly reduces real investment.

scholarly journals Copyright's Topography: An Empirical Study of Copyright Litigation

2017 ◽  
Author(s):  
Christopher A Cotropia ◽  
James Gibson
Keyword(s):  
Empirical Study ◽  
Empirical Analysis ◽  
Small Firms ◽  
Copyright Infringement ◽  
Copyright Law ◽  
Rich Source ◽  
Success Rates ◽  
Empirical Examination ◽  
Media Companies ◽  
The Impact

One of the most important ways to measure the impact of copyright law is through empirical examination of actual copyright infringement cases. Yet scholars have universally overlooked this rich source of data. This study fills that gap through a comprehensive empirical analysis of copyright infringement litigation, examining the pleadings, motions, and dockets from more than nine hundred copyright lawsuits filed from 2005 through 2008. The data we collect allow us to examine a wide variety of copyright issues, such as the rate of settlements versus judgments; the incidence of litigation between major media companies, small firms, and individuals; the kinds of industries and works involved in litigation; the nature of the alleged infringement; the success rates of particular parties and claims; and the nature of remedies sought and awarded. We also analyze the data to identify ways in which copyright litigation differs from other civil suits and to show that certain plaintiff characteristics are more predictive of success.

An Empirical Analysis of the Impact of Environmental Regulation on China's Manufacturing Industry Innovation Capacity

2014 ◽  
Vol 1010-1012 ◽  
pp. 1989-1992 ◽  
Author(s):  
Yu Lin Wu ◽  
Xue Qian Li ◽  
Mei Ling Liu
Keyword(s):  
Panel Data ◽  
Environmental Regulation ◽  
Empirical Analysis ◽  
Manufacturing Industry ◽  
Time Lag ◽  
Industrial Innovation ◽  
Innovation Capacity ◽  
Chinese Manufacturing Industry ◽  
One Year ◽  
The Impact

In this paper, Chinese manufacturing industry is studied. We use the 2003-2010 panel data to analysis the impact of environmental regulation on the industrial innovation. In three cases of no time lag, one year later and two year later, all empirical results show that: the environmental regulation does not promote our country manufacturing industry to promote industrial innovation capacity.

An Empirical Study about the Effect of Industrial Agglomeration on Export - Based on Manufacturing Panel Data in Jiangsu Province

2014 ◽  
Vol 1014 ◽  
pp. 533-538
Author(s):  
Qi Zhen Wang ◽  
Ying Ming Zhu
Keyword(s):  
Panel Data ◽  
Empirical Study ◽  
Empirical Analysis ◽  
Negative Impact ◽  
Jiangsu Province ◽  
Manufacturing Industries ◽  
Industrial Agglomeration ◽  
The Impact

This article made empirical analysis of industrial agglomeration and export based on the manufacturing panel data during 2002-2011 in Jiangsu Province. The results indicate industrial agglomeration has a negative impact on export in the 29 industries. We should distinguish between the impact of industrial agglomeration and industry dispersed on export, and study different effect on export among concentration trends of manufacturing industries. On this basis, we propose some targeted recommendations.

Does FDI crowd out domestic firms? Micro-level evidence from the Republic of Korea

2018 ◽  
Vol 22 (4) ◽  
pp. 405-416
Author(s):  
Hyelin Choi
Keyword(s):  
Foreign Investment ◽  
Small Firms ◽  
Advanced Technology ◽  
Foreign Firms ◽  
Crowding Out ◽  
Firm Level ◽  
Content Type ◽  
Domestic Firms ◽  
Crowd Out ◽  
The Impact

PurposeThe purpose of this paper is to investigate the impact of the foreign investment on the exit and sales of the domestic firms. Furthermore, it studies whether domestic firms undergo different influences by foreign firms according to the size of domestic firms.Design/methodology/approachKorean firm-level data for the period of 2006 through 2013 provided by Statistics Korea are used to study the impact of the foreign investment on the exit and sales of the domestic firms.FindingsThe result shows that foreign firms crowd out small firms from the market and take their shares in the domestic market. On the other hand, larger firms rather enjoy positive spillover effect from foreign firms, reducing its exit probability and increasing sales. It may be that large firms have enough competitiveness and ability to learn and apply the advanced technology of the foreign firms.Practical implicationsDespite the strong belief on the positive impacts of the foreign firms such as knowledge spillovers or job creation, there might be crowding-out or market-stealing effect from the presence of foreign firms. If the latter effect is larger than positive effect, the incentives provided by host country government to the multinational firms cannot be justified. In this regard, the question addressed in this paper is very important.Originality/valueWhile most of previous papers have focused on the impacts of the foreign firms on productivity of the domestic firms, this paper deals with their impacts on the exit and sales of the domestic firms in order to examine more direct crowding-out and market-stealing effect of foreign firms.

scholarly journals Research on the Impact of GNI on Express Delivery Volume in China

2020 ◽  
Vol 6 (3) ◽  
pp. p110
Author(s):  
Liao Yijun ◽  
Li Ping ◽  
Huang Wenjing
Keyword(s):  
Empirical Analysis ◽  
Total Population ◽  
National Income ◽  
National Bureau ◽  
Economic Significance ◽  
Fixed Assets ◽  
Cargo Transportation ◽  
Investment In Fixed Assets ◽  
The Impact ◽  
Express Delivery

This paper selects the relevant data of 30 years from 1989 to 2018 from the National Bureau of Statistics. This paper selects the gross national income as the focus variable, and the number of business outlets, cargo transportation volume, investment in fixed assets and the total population of the country as the control variables to make an empirical analysis on the influencing factors of express delivery volume in China. EVIEWS software is used to estimate, test and correct the parameters of the model. The economic significance of the final results is analyzed, and then the research conclusion is drawn and the existing deficiencies are summarized.

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