scholarly journals COMPLEMENTARITIES OF R&D STRATEGIES ON INNOVATION PERFORMANCE: EVIDENCE FROM TAIWANESE MANUFACTURING FIRMS

2014 ◽  
Vol 19 (Supplement_1) ◽  
pp. S134-S156 ◽  
Author(s):  
Eric S. Lin ◽  
Yi-Chi Hsiao ◽  
Hui-lin Lin
Keyword(s):  
Developed Countries ◽  
Manufacturing Firms ◽  
Empirical Models ◽  
Combined Method ◽  
Firm Level ◽  
Data Set ◽  
Step Procedure ◽  
Level Data ◽  
Innovation Output ◽  
Consistent Estimators

This paper aims to empirically test the R&D complementarities among three alternative R&D strategies, namely, internal R&D, external R&D and cooperative R&D, under different measures of innovation output. Using a firm-level data set based on the Taiwanese innovation survey (in accordance with CIS 3) conducted in 2003, we are able to compare the R&D activities in this newly-industrialized country with other developed countries. Additionally, we apply a two-step procedure to reduce the endogeneity problem caused by the firms’ choices of strategies to obtain consistent estimators, which can be regarded as a combined method of adoption and productivity approaches. We show that the results of the estimation for R&D complementarities may be biased upwards or downwards if we do not include selection equations in the empirical models, thereby giving rise to endogeneity problems. Our empirical results generally support the existence of R&D complementarities, while the strength of complementary effects may vary across different measures of innovation output. Moreover, our finding suggests that the complementary relationship between external and cooperative R&D is fairly robust to various model specifications.

Exports and Financing Constraints Evidence from Turkey

2018 ◽  
Vol 14 (1) ◽  
Author(s):  
Armağan Gezici ◽  
Özgür Orhangazi ◽  
Cihan Yalçın
Keyword(s):  
Manufacturing Firms ◽  
Financing Constraints ◽  
Firm Level ◽  
Data Set ◽  
Significant Evidence ◽  
Exporting Firms ◽  
Financial Conditions ◽  
Ex Post ◽  
Level Data ◽  
Depth Study

Abstract This paper examines the link between financing constraints and firm exporting behavior through an in-depth study of the Turkish manufacturing firms between 1996 and 2013. Utilizing a rich firm-level data set, we test for both ex-ante and ex-post links between exports and financing constraints to tackle potential selection biases and endogeneity problems. We find a positive and statistically significant export premium for financing constraints in general. In further testing we show that there is no significant evidence of pre-entry premium, while we find that financing constraints faced by exporting firms are eased once they start exporting, confirming an improvement in the financial conditions of export starters compared to non-exporters.

The Optimal Diversification Strategy in Pharmaceutical Industry: Balance-centred or Hetero-centred?

2021 ◽  
pp. 097172182110056
Author(s):  
Keungoui Kim ◽  
Junseok Hwang ◽  
Sungdo Jung ◽  
Eungdo Kim
Keyword(s):  
Business Performance ◽  
Business Environment ◽  
Product Diversification ◽  
Diversification Strategy ◽  
Firm Level ◽  
Data Set ◽  
Pharmaceutical Firms ◽  
Level Data ◽  
Market Product ◽  
High Uncertainty

Due to high uncertainty of product development and business environment, firm-level diversification has been regarded as one of the most effective methods in pharmaceutical firms. In previous study, firm-level diversification was discussed by different value chains of market, product, and technology. However, in most cases, the diversification itself was adopted in a simple manner although its property contains different aspects and the results varies depending on the diversity property of selected index. In addition, the existing approach for measuring firm’s product/market diversification using sales information distinguished by standard industry classification cannot provide direct implication as different strategies are made for market and product diversification. Therefore, this study examines the effects of firm-level diversification on business and innovation performances in pharmaceutical firms by considering (1) three diversification types: market, product, and technology, (2) clear separation between market and product diversification, and (3) two diversification perspectives: balance-centred and hetero-centred. For empirical analysis, an integrated firm-level data set combining from Medtrack, Orange Book, Compustat and Total Patent database is used. From the result, in case of market diversification, less market heterogeneity causes significant influence on business performance. For product and technology, a concentrated and greater heterogeneity of product diversification are turned out to promote business performance, while the more intensive and heterogeneous technology diversification has been shown to improve innovation performance.

Capital Account Liberalization and Firm Innovation: Worldwide Evidence

2021 ◽  
pp. 0148558X2110594
Author(s):  
Fangfang Hou ◽  
Xinpeng Xu
Keyword(s):  
Positive Impact ◽  
Set Covering ◽  
Capital Account ◽  
Legal Environment ◽  
Firm Level ◽  
Firm Innovation ◽  
Capital Account Liberalization ◽  
Data Set ◽  
Innovation Output

This study investigates whether capital account liberalization, a leading characteristic of globalization, is associated with firms’ future innovation output. Employing a novel firm-level panel data set covering 41 countries over two decades, we show that capital account liberalization is significantly associated with higher corporate patenting activities, particularly for firms from innovation-intensive industries. Further analyses show that the effect is stronger among firms from economies in a better legal environment, signifying the important role of good institutional quality in facilitating the positive impact of liberalization. The effect is also stronger among firms with higher initial productivity, consistent with the “productivity” hypothesis, according to which bigger and more productive firms generate more innovation after liberalization. Our findings are robust to the use of various measurements, subsamples, and estimation models. This study provides global firm-level evidence of the real economic impact of financial globalization.

scholarly journals City economies and microbusiness growth

Urban Studies ◽  
2016 ◽  
Vol 54 (14) ◽  
pp. 3199-3217 ◽  
Author(s):  
Donald Houston ◽  
Darja Reuschke
Keyword(s):  
Employment Growth ◽  
Developed Countries ◽  
Business Owners ◽  
Firm Level ◽  
Urban Economic Development ◽  
Self Employment ◽  
Jobless Growth ◽  
Home Based ◽  
Level Data ◽  
Different Types

In developed countries, microbusinesses (those employing fewer than 10 people) and home-based businesses have been systematically overlooked in urban economic development thinking. This article assesses the influence of city location and being run from the business owner’s home on microbusiness growth, based on empirical analysis of panel firm-level data over a four-year period during the UK’s long boom. The analysis reveals that cities provide benefits to microbusinesses for turnover growth but not for employment growth – suggesting that the additional growth induced by cities for microbusinesses may be jobless growth. However, in the case of microbusinesses run from the owner’s home, cities facilitate growth into medium-sized businesses (with 50+ staff). In conclusion, microbusinesses, including those run from business owners’ homes, are integral to the evolution and dynamics of urban economies and essential to understanding the nature of growth in cities. Agglomeration theory needs to say more about how urban agglomeration benefits firms of different types and sizes, and small business and self-employment research needs to say more about the influence of location, in particular cities. How businesses use both commercial and residential property are integral to the nature of growth in cities.

scholarly journals Returns to compensation in trucking: Does safety pay?

2019 ◽  
Vol 30 (2) ◽  
pp. 262-284 ◽  
Author(s):  
Michael R Faulkiner ◽  
Michael H Belzer
Keyword(s):  
Net Present Value ◽  
Retention Rates ◽  
Firm Level ◽  
Data Set ◽  
Motor Carrier ◽  
Level Data ◽  
Motor Carrier Industry ◽  
The Us ◽  
Before And After ◽  
Trucking Companies

Large truck crashes remain a significant problem in the truckload sector of the US motor carrier industry. Employing a unique firm-level data set from a large US truckload motor carrier, we identified two different driver groups hired during two distinct pay regimes. Before-and-after data on wages and safety outcomes created a natural experiment. Higher wages paid to experienced drivers in the new pay regime led to higher driver retention rates. Experienced drivers had lower average crash costs and were more productive during each tenure month. Experienced drivers had a much larger expected discounted net present value when compared with inexperienced drivers. As the previously inexperienced drivers gained additional experience, their crash probabilities and their value began to mirror those of the experienced drivers, demonstrating the value of greater tenure. This research supports ‘safe rates’ public policy because safety pays – for trucking companies, for cargo owners and for society. JEL Codes: J24, J28, J33

scholarly journals Political Risk Insurance: A New Firm-level Data Set

2019 ◽  
Vol 64 (5) ◽  
pp. 987-1006
Author(s):  
Vincent Arel-Bundock ◽  
Clint Peinhardt ◽  
Amy Pond
Keyword(s):  
Political Risk ◽  
Private Investment ◽  
Foreign Firms ◽  
Firm Level ◽  
Data Set ◽  
Insurance Contracts ◽  
Indirect Measures ◽  
Level Data ◽  
New Firm ◽  
Risk Insurance

When do governments impose costs on foreign firms? Many studies of foreign direct investment focus on incentives for government expropriation, but scholars are often forced to rely on indirect measures of expropriation to conduct empirical analyses. This article introduces a data set which includes information on over 5,000 political risk insurance contracts issued by the US Overseas Private Investment Corporation since 1961, and on all the claims filed by investors under these contracts. These detailed insurance data allow us to study the determinants of foreign investors’ losses from a variety of sources, including expropriation, inconvertibility, and violent conflict. To illustrate the benefits of these data for hypothesis testing, we adopt a comprehensive empirical approach and explore both shared and distinct causes across risk categories.

scholarly journals A microanalysis of trade finance: German bank entry and coffee exports in Brazil, 1880–1913

2019 ◽  
Vol 24 (2) ◽  
pp. 356-389
Author(s):  
Wilfried Kisling
Keyword(s):  
Historical Perspective ◽  
Credit Constraints ◽  
Original Data ◽  
Firm Level ◽  
Data Set ◽  
Trade Finance ◽  
German Bank ◽  
Level Data ◽  
Economic Studies ◽  
Bank Entry

Abstract The trade-finance nexus has enjoyed increasing interest in recent economic studies, but empirical evidence is scarce and studies from a historical perspective seem missing. This study analyses the effect of German bank entry on Brazilian coffee exports between 1880 and 1913 using firm-level data. I create an original data set on the yearly quantities of exported coffee and the credit received from the German Brasilianische Bank für Deutschland by export houses in Brazil. Using a difference-in-difference approach, I find that Brasilianische eased previously existing credit constraints, and that companies financed by Brasilianische exported significantly more than those that were not.

scholarly journals Family Commitments and Career Success: Earnings of Male and Female Managers

2005 ◽  
Vol 46 (1) ◽  
pp. 141-158 ◽  
Author(s):  
Kathy Cannings
Keyword(s):  
Division Of Labor ◽  
Middle Managers ◽  
Organizational Factors ◽  
Firm Level ◽  
Data Set ◽  
Household Division Of Labor ◽  
Level Data ◽  
Behavioral Variables ◽  
Dual Commitment ◽  
The Impact

The dual-career family, with its attendant pressures for dual commitment to the home and to the career, has become an increasingly important phenomenon in recent decades. This paper uses a firm-level data set to examine the impact of family commitments as well as cognitive, behavioral, and organizational factors on the earnings of 519 married middle managers in a large Canadian corporation. Alongside a number of behavioral variables as well as the functional division of managerial labor in the company, division of labor in the employee's household has a significant impact on managerial earnings. The inclusion of a variable reflecting the household division of labor in the managerial earnings function helps to explain a substantial proportion of the earnings disadvantage of women in this company that might otherwise simply be attributed to gender.

Using the eurostat-OECD definition of high-growth firms: a cautionary note

2015 ◽  
Vol 4 (1) ◽  
pp. 50-56 ◽  
Author(s):  
Sven-Olov Daunfeldt ◽  
Dan Johansson ◽  
Daniel Halvarsson
Keyword(s):  
Small Firms ◽  
High Growth ◽  
Growth Patterns ◽  
Firm Level ◽  
Data Set ◽  
Content Type ◽  
Level Data ◽  
Growth Firms ◽  
Definition Of ◽  
Practical Implications

Purpose – High-growth firms (HGFs) have attracted an increasing amount of attention from researchers and policymakers, and the Eurostat-Organisation for Economic Co-operation and Development (OECD) definition of HGFs has become increasingly popular. The paper aims to discuss this issue. Design/methodology/approach – The authors use a longitudinal firm-level data set to analyze the implications of using the Eurostat-OECD definition. Findings – The results indicate that this definition excluded almost 95 percent of surviving firms in Sweden, and about 40 percent of new private jobs during 2005-2008. Research limitations/implications – The proportion of small firms and their growth patterns differ across countries, and the authors therefore advise caution in using this definition in future studies. Practical implications – Policy based on the Eurostat-OECD definition of HGFs might be misleading or even counterproductive. Originality/value – No previous studies have analyzed the implications of using the Eurostat-OECD definition of HGFs.

scholarly journals EXPORT BEHAVIOUR OF MANUFACTURING FIRMS IN INDONESIA, 1990-2000

2010 ◽  
Vol 12 (2) ◽  
pp. 227-242
Author(s):  
Sahminan Sahminan ◽  
Yati Kurniati
Keyword(s):  
Foreign Ownership ◽  
Manufacturing Firms ◽  
Lower Proportion ◽  
Manufacturing Industries ◽  
Firm Level ◽  
Panel Data Regression ◽  
Level Data ◽  
Data Regression ◽  
Export Behaviour ◽  
Firm Level Data

This paper examines export behaviour of manufacturing firms in Indonesia. We use firm-level data from survey of medium and large Indonesian manufacturing industries over the period 1990-2000. Using panel data regression technique, we find the following regularities. First, there is a persistency in the firm’s decision to export as well as proportion of exported output. Second, higher wage, larger number of production employment, higher productivity and higher share of foreign ownership lead to higher probability of a firm to export. Third, higher wage leads to higher proportion of exported output. However, higher productivity or higher share of foreign ownership leads to lower proportion of exported output. Fourth, while real exchange rate does not significantly affect the probability of firms to export, it significantly affects the proportion of exported output. Fifth, both probability to export and proportion of exported output was significantly much lower during the 1997/1998’s Asian crisis. Finally, looking at the export behaviour across industries, the estimation results show that there is a variation of export behavior across industries.Keywords: Export, manufacture, Indonesia.JEL Classification: F14, F13, D21

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