共查询到20条相似文献,搜索用时 31 毫秒
1.
Andrea M. Leiter Harald Oberhofer Paul A. Raschky 《Environmental and Resource Economics》2009,43(3):333-350
This paper examines the impact of floods on the firms’ capital accumulation, employment growth and productivity by using a
difference-in-difference (DID) approach and considering the firms’ asset structure. We find evidence that, in the short run,
companies in regions hit by a flood show on average higher growth of total assets and employment than firms in regions unaffected
by flooding. The positive effect prevails for companies with larger shares of intangible assets. Regarding the firms’ productivity
a negative flood effect is observable which declines with an increasing share of intangible assets.
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2.
Based on firm level data from 16 Sub-Saharan African countries we show how three different measures of credit constraints lead to three different estimates of gender differences in manufacturing firms’ credit situation. Using a perception based credit constraint measure female owned firms appear relatively more constrained than male owned firms. Using formal financial access data we find no gender effect. Finally, using direct information on credit constraints, male owned small firms appear disadvantaged. Furthermore we show a strong size gradient in the gender gap for the two measures for which we find significant gender differences. 相似文献
3.
Weiwei Ying 《Frontiers of Economics in China》2007,2(3):388-403
We conduct an empirical study on Chinese listed firms’ investment-cash flow sensitivities in different stages of the macroeconomic
cycle during 1993–2004, and find that macro-economy has a significant effect on investment-cash flow sensitivities. When economic
slowdown occurred between 1998 and 2001, sample firms reduced working capital substantially to maintain some necessary investment
level of fixed assets, that is, firms stabilized fixed assets investment by adjusting working capital. However, the sensitivity
coefficients of fixed assets investment to cash or sales revenue were not systematically higher in the depressed stage than
in the booming stage.
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4.
Pollution Control and Foreign Direct Investment in Mexico: An Industry-Level Analysis 总被引:4,自引:2,他引:2
Foreign direct investment (FDI) flows into developing countries have been increasing dramatically over the past decade. At
the same time, there has been widespread concern that lax environmental standards are in part responsible for this surge.
This paper revisits the question of the existence of a pollution haven effect by examining the extent to which the pollution
intensity of production helps explain FDI in Mexico. We focus on pollution intensities, which are directly related to emission
regulations, rather than unobservable pollution taxes and allow for substitution between capital and pollution. Examining
several different pollutants, we find a positive correlation between FDI and pollution that is statistically and economically
significant in the case of the highly regulated sulfur dioxide emissions. Industries for which the estimated relationship
between FDI and pollution is positive receive up to 30% of total FDI and 30% of manufacturing output. Although we confirm
the importance of Mexico’s comparative advantage in labor-intensive production processes, consistent with the previous literature,
our results suggest that environmental considerations may matter as well for firms’ investment decisions.
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5.
Models of firms’ influence over the regulatory agencies that oversee them have traditionally been constrained by several factors,
including a lack of direct measures of “influence,” an inability to account for variations in the institutional environment
within which firms operate, and a nearly singular focus on industry-level measures of interest group strengths. In this paper,
we employ a global database and novel measures to provide a fresh look at the determinants of firms’ influence over regulatory
agencies. We find that in addition to traditional industry-level determinants, important country-level institutional and firm-level
determinants affect firms’ regulatory agency influence. We also find that regulatory process variations affect firms’ influence
over regulators. With these empirical estimates in hand, we generate a Regulatory Influence Index that ranks influence levels
of typical firms that operate in each sample country in the dataset, and then discuss the substantial country-level variation
in regulatory agency influence that obtains. 相似文献
6.
This paper studies the empirical relationship among factor endowment, trade openness and individual income distribution. Using
panel data, we show that factor endowment characters, to some extent, explains income gap in China. First, land and Capital
intensive provinces have a more equal income distribution while human capital and labor-intensive provinces have a less equal
income distribution. Second, Trade openness has a significant effect on China’s income distribution; the interaction between
a special endowment and openness has different effect on income distribution; we also show that FDI, economy development,
unemployment and reform have considerable negative effect on income distribution. Our results are robust to various kinds
of test. 相似文献
7.
Lalit Manral 《Journal of Evolutionary Economics》2010,20(5):765-802
Industries based on systemic technologies are often characterized by a dynamically evolving market structure. The market structure
that provides the context for firms’ investment choices itself evolves due to the feedback effect of firms’ investments. In
such cases, analyses of investment-performance relationship, purporting to explain sustainable competitive advantages, should
ideally account for the endogeneity of the determinants of market structure—technology, demand, and policy—and firms’ investment
choices. This paper focuses on the endogeneity of the demand-side determinants of market structure and firms’ demand-side
investments under the assumed conditions of constant technology and policy environment. In doing so it contradicts the extant
depiction of the evolution of industrial market structure in the above context as primarily caused by the evolution of underlying
technological system in response to firms’ endogenous technological investments that generate sustainable competitive advantage
for the dominant firms. A dynamic evolutionary model of demand competition captures the competition in the downstream market
for basic industry product and its complements in an industry based on systemic technology during its post-interoperability
stage. A natural experiment drawn from the US Long-distance telecommunications services industry during 1984–1996 allows testing
the hypotheses drawn from the above model in a panel data setting. 相似文献
8.
Home country employment and foreign direct investment: evidence from the Italian case 总被引:3,自引:0,他引:3
Mariotti Sergio; Mutinelli Marco; Piscitello Lucia 《Cambridge Journal of Economics》2003,27(3):419-431
The present paper provides further insights on the relationshipbetween home country employment and foreign direct investment(FDI) undertaken by national firms. The unit of analysis iseach ensemble of firms operating in the same industrial sectorand localised in the same geographical region. That allows usto capture both direct and indirect effects of foreign productionon the parent's environment, which arise through the generationof linkages and externalities. Empirical evidence has been providedwith reference to the Italian case in the decade 198595.Results suggest that the impact of outward FDI on the labourintensity of domestic production is negative in the case ofvertical investment undertakenespecially by smaller firmsinless developed countries, and positive for horizontal and market-seekinginvestments in advanced countries. 相似文献
9.
Chao-Ning Liao 《Journal of Regulatory Economics》2009,35(2):135-153
By using a newly proposed tradable permit system built under the current air pollution fee regulation for the control of Total
Suspended Particulates in Taiwan as an example, a mixed-integer non-linear programming model that minimizes the total regulatory
costs of firms is applied to investigate how different permit trading ratios and the design of banking might affect firms’
technology adoption decisions and permit trading behavior. By incorporating binary variables in the model to represent firms’
decisions as to whether or not to install new control equipment, the results show that when the unit air pollution fee rate
is higher than the firms’ abatement costs, the design of banking causes many firms to install new control equipment that results
in an over-reduction of emissions. If no air pollution fee is imposed, the trading ratio plays a more important role than
the reservation rate for banking in determining the firms’ emission reduction strategies under a pure permit trading scheme.
While the conclusion from this study that uses a non-uniformly mixed pollutant as an example may hold only when certain conditions
are met, the framework can be applied to other uniformly mixed pollutants through parameter changes without any limitation.
In addition, the modeling technique presented here offers policy-makers a very convenient approach to empirical analysis.
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10.
Charles F. Mason 《Environmental and Resource Economics》2011,48(4):537-560
An intriguing alternative to traditional methods for regulating externalities is the provision of information about firms’
environmental attributes. An increasingly important example of this approach is “eco-labeling,” where a third party certifies
firms’ products. Such schemes are currently used in a variety of countries. This paper investigates the equilibria that may
occur with eco-labeling, and the attendant welfare effects. I model certification as a noisy test, subject to both type I
and type II errors, but where green firms more likely to pass than brown firms. While it commonly leads to an increase in
the fraction of green units in the market, the introduction of an eco-label can either increase or decrease welfare. 相似文献
11.
By using provincial socioeconomic and environmental data, this paper examines the relationship between human capital, FDI
and pollution emissions in China. The result shows the impact of FDI on pollution emission is highly dependent on the level
of human capital. FDI is negatively associated with pollution emissions in provinces with the higher levels of human capital,
whereas FDI is positively related to pollution emissions in provinces with the lower levels of human capital. This suggests
that pollution haven hypothesis (PHH) holds only in those provinces with low human capital. This study also finds that the
sign of FDI’s effect on each pollutant’ emission requires the different threshold level of human capital, which may help to
reconcile the current conflicting PHH empirical evidences partially. 相似文献
12.
In contrast with what we perceive is the conventional wisdom about setting a second-best emissions tax to control a uniformly
mixed pollutant under uncertainty, we demonstrate that setting a uniform tax equal to expected marginal damage is not generally
efficient under incomplete information about firms’ abatement costs and damages from pollution. We show that efficient taxes
will deviate from expected marginal damage if marginal damage is increasing and there is uncertainty about the slopes of the
marginal abatement costs of regulated firms. Moreover, tax rates will vary across firms if a regulator can use observable
firm-level characteristics to gain some information about how the firms’ marginal abatement costs vary. 相似文献
13.
Pedro Mendi 《Journal of Economics》2009,96(2):95-112
This paper formalizes the idea that input transactions might be used to implement side payments among colluding firms. A model
is proposed to analyze the effect of backward integration on collusive outcomes in a downstream duopoly with asymmetric marginal
costs. Vertical integration expands the set of collusive outcomes that are sustainable for a given realization of the discount
factor. This is an additional effect of vertical integration that antitrust authorities should consider. Side payments implemented
by input sales are more relevant the larger the difference in marginal costs, since they allow for the shifting of production
towards the relatively more efficient firms, while maintaining firms’ incentives to collude. A price of the input above that
posted by an alternative source or sales of the input below cost may be observed, depending on the realization of downstream
firms’ costs.
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14.
Jordi Vilaseca-Requena Joan Torrent-Sellens Antoni Meseguer-Artola Inma Rodríguez-Ardura 《International Advances in Economic Research》2007,13(2):222-241
This work aims to explain firms’ decisions to adopt Internet-based e-commerce, and the extent to which the adopters subsequently
implement e-commerce to commercialize their products and services. We examine various types of factors previously considered
by the literature (competitive environment, organizational characteristics, strategic orientation, innovative capacity, managers’
characteristics, IT equipment possessed and the use made of it). The analytical model developed here on the basis of a sample
of 2,038 firms suggests that the factors influencing the adoption decision are different from those that eventually influence
the results of firms’ commercial operations on the Internet. Likewise, we discuss the contribution of each type of determinant
and the implications.
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15.
Abuse of EU Emissions Trading for Tacit Collusion 总被引:1,自引:0,他引:1
Karl-Martin Ehrhart Christian Hoppe Ralf Löschel 《Environmental and Resource Economics》2008,41(3):347-361
In this paper, we show that loopholes in EU emissions trading law foster tacit collusion that impacts oligopolistic product
markets. The abuses originate from the covert misuse of EU emissions trading institutions, such as pooling or project-based
mechanisms. We analyse two types of these loopholes by means of game theoretical methods to show how oligopolistic firms establish
output restrictions, even if those firms are price takers on the~permit market (which might actually be the case for the majority
of obligated firms in the EU). The identified misuse of emissions trading law increases firms’ profits, decreases the consumers’
surplus and has negative effects on social welfare for specified parameter ranges. Consequently, public authorities should
not allow emissions trading’s overall good reputation—based upon its efficient abatement of pollution—to blind them to options
in European emissions trading legislation that would eventually restrict competition.
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16.
Naoki Shintoyo 《Journal of Economics》2008,93(2):145-176
We offer a search and matching model with firms that create job vacancies and are willing to sponsor general skills training.
The spillover of skilled labor between firms has the dual effect of increasing job vacancies and enhancing firms’ incentives
for free riding. The former effect is combined with a reduction in search costs to cause a positive feedback between the supply
of skilled labor and the creation of job vacancies, suggesting that firms encourage each other. On the other hand, with the
latter effect, search costs are reduced, inducing firms to take a free ride on each other’s investments, thereby decreasing
the supply of skilled labor and the creation of job vacancies. A reduction in search costs can lead to different results depending
on which of the two mechanisms is actualized. Additionally, our analysis allows for “labor poachers,” or firms absorbing skilled
labor in the market, to consider direct competition between training firms and poaching firms.
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17.
This paper examines the effect of corruption in infrastructure development as well as in capital and labor markets, on capital
accumulation and output in an overlapping generations model. Corruption affects income redistribution, government expenditures
on infrastructure, firms’ incentive to invest, and workers’ incentive to supply labor. An increase in corruption in infrastructure
development decreases capital accumulation and output if the decrease in the savings of ordinary workers is sufficiently large.
An increase in corruption in the capital market decreases capital accumulation and output. An increase in corruption in labor
market decreases capital accumulation and output when labor supply is completely inelastic. Simulation results based on plausible
parameter values indicate that an increase in corruption in the labor market will also reduce labor supply, capital accumulation
and output.
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18.
Adoption of Pollution Prevention Techniques: The Role of Management Systems and Regulatory Pressures
Madhu Khanna George Deltas Donna Ramirez Harrington 《Environmental and Resource Economics》2009,44(1):85-106
This paper investigates the extent to which firm level technological change that reduces unregulated emissions is driven by
regulatory pressures, and firms’ technological and organizational capabilities. Using a treatment effects model with panel
data for a sample of S&P 500 firms over the period 1994–1996, we find that organizational change in the form of Total Quality
Environmental Management leads firms to adopt pollution prevention practices, after controlling for the effects of various
regulatory pressures and firm-specific characteristics. We find that the threat of anticipated regulations and the presence
of ‘complementary assets’ is important for creating the incentives and an internal capacity to undertake incremental adoption
of pollution prevention techniques. 相似文献
19.
Foreign direct investment, competition and industrial development in the host country 总被引:8,自引:0,他引:8
This paper analyses the impact of foreign direct investment (FDI) on the development of local firms. We focus on two likely effects of FDI: A competition effect which deters entry of domestic firms and positive market externalities which foster the development of local industry. Using a simple theoretical model to illustrate how these forces work we show that the number of domestic firms follows a u-shaped curve, where the competition effect first dominates but is gradually outweighed by positive externalities. Evidence for Ireland tends to support this result. Specifically, applying semi-parametric regression techniques on plant level panel data for the manufacturing sector we find that while the competition effect may have initially deterred local firms’ entry, this initial effect has been outpaced by positive externalities making the overall impact of FDI largely positive for the domestic industry. 相似文献
20.
Minimum quality standards and consumers’ information 总被引:3,自引:0,他引:3
The literature so far has analyzed the effects of minimum quality standards (MQS) in oligopoly, using models of pure vertical
differentiation, with only two firms, and perfect information. We consider products that are differentiated horizontally and
vertically, with imperfect consumers’ information, and more than two firms. We show that a MQS changes the consumers’ perception
of produced qualities. This increases the firms’ returns from quality enhancing investments, notwithstanding contrary strategic
effects. Our analysis justifies the use of MQS in industries where consumers cannot precisely ascertain the quality of goods,
for instance pharmaceuticals or products with chemical components involved.
Paper presented at the 2004 ASSET conference in Barcelona, and at the 2005 EARIE conference in Porto. The authors wish to
thank an anonymous referee for helpful suggestions. 相似文献