Dynamic Entry and Exit Linkages in the Brazilian Manufacturing Industry: An Econometric Investigation

The paper investigates dynamic linkages between entry and exit rates in Brazilian manufacturing in the context of 231 (four-digit) industries during the 1996–2005 period. The empirical analysis focuses on the estimation of a dynamic panel data model for entry and exit rates, and controls for the business cycle and structural characteristics, such as industrial concentration and suboptimal scale. The empirical evidence is partially consistent with a multiplier effect where synergetic factors prevail by exit inducing exit. Evidence partially supports a competition effect that could be related to a selection process favoring efficiency, as exit induces entry. The business cycle control variable and the aforementioned structural variables appear to play no role in delineating entry and exit linkages. The results are similar, although not identical, to previous evidence for developed countries.     

Export Entry,Export Exit and Productivity in German Manufacturing Industries

This paper contributes to the flourishing literature on exports and productivity by using a unique newly available panel of exporting establishments from the manufacturing sector of Germany from 1995 to 2004 to test three hypotheses motivated by a theoretical model by Hopenhayn (Econometrica 1992): (H1) Firms that stop exporting in year t were in t?1 less productive than firms that continue to export in t. (H2) Firms that start to export in year t are less productive than firms that export both in year t?1 and in year t. (H3) Firms from a cohort of export starters that still export in the last year of the panel were more productive in the start year than firms from the same cohort that stopped exporting in between. While results for West Germany support all three hypotheses, this is only the case for (H1) and (H2) in East Germany.     

The Post-entry Performance of Cohorts of Export Starters in German Manufacturing Industries☆

This paper investigates four cohorts of firms from German manufacturing industries that started to export between 1998 and 2002, and follows them for five years after the start. Export starters are a rare species and small in Germany. Around 30–40% of those starters studied became continuous exporters. The share of total exports contributed by export starters of a cohort is tiny in the start year, and it remains so over the years that follow. Contrary to the market selection hypothesis, there is no evidence that productivity in the start year is systematically related to survival in the export market. There is no evidence of a negative impact of a smaller firm size in the start year on the chance of surviving in the export market. Starting with a higher share of exports in total sales, however, tends to increase the probability of continuing to export.     

Advertising as an Entry Deterrent: Evidence from UK firms

Advertising is widely considered to be an important isolating mechanism through which firms may defend an established competitive advantage. However, there is relatively little empirical evidence on the extent of the strategic use of advertising either to deter or in response to entry. In this paper, I report on a study of the advertising practices of 843 medium‐sized and large UK‐based firms. Nearly one‐quarter of all the advertisers surveyed state that they attribute importance to entry deterrence as an aim of their advertising. Further, one in five managers of advertising firms state that they would increase advertising expenditure if a new rival company appeared in their market. It is also apparent that there is a strong correlation between the perceived importance of advertising as an entry‐deterring tool and the intensity of advertising spending. Multivariate modelling provides confirmation that the existence of a sheltered market position, and the profitability that typically accompanies this, provides a statistically significant determinant of the decision to use advertising as a strategic entry‐deterring weapon.     

The Determinants of Dual Distribution Revisited

This paper examines the use of what has been called “dual distribution” by firms. Dual distribution involves a firm using both company-owned stores and independently owned franchises to sell its product or service. Using panel data from 1048 companies for the years 2005 to 2009, I use a variety of estimators to determine the factors that influence the relative use of franchising by companies. A key focus of the paper is to control for the possible endogeneity of the franchise fee, royalty rate, and franchise ratio for the companies in the respective industries. Using a panel data estimator and lagged values of the franchise fee and royalty rate as instruments, I find that one reason the franchise fee and royalty rate do not appear to influence the relative use of franchising is due to industry- and firm-level fixed effects, which capture the variation in royalty rates and franchise fees at the company level.     

The Determinants of Firm Exit in Japanese Manufacturing Industries

This paper presents new evidence on the determinants of firm exits that occurred in Japanese manufacturing industries over the period 1981--1989. Gross-number measure is used for exits. Many structural factors have exerted a definite influence on the extent of exit; across industries, capital intensity and subcontracting relationships have an exit-promoting effect, while profits, industry growth, concentration, and R&D opportunity have a negative relationship with exit. In addition, the minimum efficient size has an inverted-U-shaped relationship. However, export opportunity has only a marginal effect. These results are likely to reflect exits of small business.     

Assessing the Determinants of High-Growth Manufacturing Firms in Italy

Few firms grow rapidly, but their contribution to employment growth is often impressive. The main purpose of this paper is to analyse both the external and internal factors that can affect the probability of being a high-growth firm (HGF) in Italy. We found that HGFs are, on average, young firms and are present in different industries, but the role of demand is important to understanding their performance at the sectoral level. Moreover, our findings show that financial constraints and profitability are not associated with the probability of being a HGF. HGFs, on average, are characterised by high productivity, but only when growth is measured in terms of sales. The most original results of this study concern the endogenous determinants of rapid growth, which have yet to be adequately examined in the literature. First, we found that the concentration of ownership is important for HGFs that experienced rapid growth in their sales. Second, the quality of human capital is a strong point for firms experiencing rapid employment growth.     

中国生产性服务业FDI影响因素实证研究

本文采用动态面板数据分析方法,利用我国20个省市2004-2010年的面板数据,分析我国生产性服务业FDI的影响因素。研究结果表明:(1)整体生产性服务业FDI与市场规模和市场增长潜力呈正向关系,但细分行业中信息传输、计算机服务和软件业,科学研究、技术服务和地质勘查业这两个行业并没有像预期的那样会促进其FDI的流入。(2)整体和细分生产性服务业FDI均明显具有追逐制造业FDI的倾向,并且与前期生产性服务业FDI具有正向关系。(3)劳动力工资水平与生产性服务业FDI流入呈正相关,这与绝大多数现有的研究尤其是关于制造业或服务业FDI影响因素的研究结论不同。(4)熟练工人、基础设施系统、政府干预和对外开放程度均与生产性服务业FDI有显著关系,是影响生产性服务业FDI的主要因素。     

One‐Way Compatibility,Two‐Way Compatibility and Entry in Network Industries

We study the strategic choice of compatibility between two initially incompatible network goods in a two‐stage game played by an incumbent and an entrant firm. Compatibility may be achieved by means of a converter. We derive a number of results under different assumptions about the nature of the converter (one‐way vs two‐way), the existence of property rights and the possibility of side payments. With incompatibility, entry deterrence occurs for sufficiently strong network effects. In the case of a two‐way converter, which can only be supplied by the incumbent, incompatibility will result in equilibrium unless side payments are allowed and the network externalities are sufficiently low. When both firms can build a one‐way converter and there are no property rights on the necessary technical specifications, the unique equilibrium involves full compatibility. Finally, when each firm has property rights on its technical specifications, full incompatibility is observed at the equilibrium with no side payments; when these are allowed the entrant sells access to its network to the incumbent which refuses to do the same and asymmetric one‐way compatibility results in equilibrium.     

Diversity Management and Demographic Differences-based Discrimination: The Case of Turkish Manufacturing Industry

In the late 1980s workforce became more diverse in terms of demographic changes, cultural differences and other characteristics of organizational members. This diversity was a reflection of changing global markets. Workforce diversity has both positive and negative effects on organizational performance. Therefore, it is becoming important especially for medium- and large-scale businesses. In order to manage increasingly workforce diversity and to prevent discrimination, diversity management is now considered as a major part of strategic human resource management. The purpose of this study is to establish the dimensions of discrimination that occur due to demographic differences in Turkish manufacturing industry. The findings of the research indicate that demographic characteristics, socio-cultural structure, managerial policy and behaviors, union tendency and regional differences, laws and local community, gender, educational and age differences, and political opinions have influence on discrimination. According to the results, discrimination has been observed mostly in job processes such as promotions and appointments, human resource selection, job/employment examination and interviews, and performance appraisal.     

Determinants of Fresh and Frozen Fruit and Vegetable Expenditures in Turkish Households: A Bivariate Tobit Model Approach

In this study, we have identified the effects of socio-demographic and economic factors of household heads and households on monthly expenditures of fresh and frozen fruit and vegetable in Turkey using the bivariate Tobit model. The results show that both the probability and monthly spending levels of household fruit and vegetable consumption increase with increasing in age of household heads, educational levels of household heads, married household heads, household income, and the number of adults in a family, while male-headed households, working household heads, the households that receive in-kind help from the government or private sector, and the use of internet at home decrease both the likelihood and spending levels of fruit and vegetable consumption in Turkey. The results in the study may contribute to the stakeholders to identify and implement effective marketing strategies and also develop more effective policies for the government to improve nutritional levels for certain dwellings for which the government include them in the certain state-initiated benefit program.     

江苏省生产性服务业FDI对制造业的影响研究

本文概述了1998—2011年江苏省生产性服务业FDI的规模和行业特征,发现生产性服务业FDI与制造业具有相同的增长趋势。利州}办整检验和Granger因果检验表明,江苏省生产性服务业FDI与制造业产值之间存在长期稳定的均衡关系,且当滞后期为1时,生产性服务业FDI规模的变化是制造业增加值变化的原因;应用多元线性回归模型对江苏省生产性服务业进行分行业的实证研究。最后,阐述了生产性服务业FDI对制造业影响效应。     

The Determinants of and Interaction between Entry and Exit in Taiwan's Manufacturing

Based upon substantial high firm turnover rates, various policy incentives, and developed subcontracting-networks, this paper investigates structure and firm-specific factors that determine the entry and exit rate across industries. The interaction between entry and exit rates of the industry is incorporated in the study, namely the "displacement", "replacement" and "instantaneous causal" effects. The regression results indicate that entry and exit rates are determined by different measures of entry or exit barriers but the effects are not fully symmetric. It is also evident that underlying entry or exit sunk- costs introduced the instantaneous movement of entry and exit rates. In addition, the entry of new plants has a moderate effect to facilitate the displacement or market selection process to displace the inefficient producers but no significant replacement effect is found. The policy implication being that the government support encourages entry it also increases the industry failure rates.     

跨国零售商进入与中国消费品制造业绩效

基于零售商产业链地位日益增强的背景,提出有关跨国零售商对中国上游消费品制造业绩效影响的相关假说,进而利用中国省级区域消费品制造业2002-2010年的面板数据进行实证检验.结果表明,跨国零售商绩效因素对各消费品制造业产生了积极的正向溢出效应,但是其受跨国零售商数量的影响而存在差异,其中食品制造业绩效随跨国零售商数量增加而提高,但纺织品制造业绩效与跨国零售商数量呈显著负相关关系,其是遭受利益侵害风险最大的行业.     

国际贸易对我国行业间收入分配的影响——基于制造业面板数据的实证分析

本文运用我国1998-2006年27个制造业行业的面板数据对国际贸易的行业间收入分配效应进行了实证研究。研究发现,从总体上看,出口对行业相对工资有正向的上拉作用,进口对行业相对工资有负向的下拉作用。但进出口对不同类型行业的影响程度和方向不同,出口贸易对资本密集型和劳动密集型制造业行业的相对工资均有上拉作用,且对前者的促进作用大于后者;进口贸易对劳动密集型制造业行业的相对工资有下拉作用,而对资本密集型制造业行业的相对工资有上拉作用。基于上述结论,促进出口,提高劳动密集型产品的附加值,适当控制最终消费品等产品的进口,有助于缩小行业收入差距。     

‘Entry Thresholds and Actual Entry and Exit in Local Markets’

Bresnahan and Reiss (1991) derive entry thresholds for local markets but do not investigate actual entry and exit flows. This paper investigates for thirteen Belgian retail and consumer service industries whether markets with actual numbers of firms higher (lower) than the thresholds display exit (entry) in subsequent periods. The results confirm that over a three-year period the rate of (net) entry is positively affected by the presence of ‘market room’. The exit rate, however, does not show a negative relation with ‘market room’.      

中日制造业产业内贸易发展态势的实证研究

本文采用SITC5分位数据,对1992-2002年间中日制造业产业内贸易发展态势进行了实证分析。研究结果表明,中日贸易结构仍然呈现出以产业间贸易为主的格局,但制造业产业内贸易比重正逐渐上升。中日制造业产业内贸易类型细分呈现出以低质量产业内贸易为主、高质量产业内贸易次之、水平型产业内贸易比重最低的格局。中日制造业低质量产业内贸易呈逐年上升态势,中国在促进产业结构升级、培育人力资本要素方面面临着艰巨的任务。     

人民币汇率波动的福利效应——基于我国制造业面板数据的实证分析

本文运用1996-2007年我国制造业27个细分行业的贸易和产业数据,根据人民币实际有效汇率(总体汇率)的计算方法构造了制造业分行业的进、出口汇率指标,分别考察了总体汇率、出口汇率、进口汇率对制造业分行业、分部门(劳动密集型、资本密集型和技术密集型三个部门)工人福利的影响及其传导途径。实证研究结果表明:在分行业分析中,三种汇率升值均降低了制造业工人的福利水平;在分部门分析中,由于区分了各部门贸易程度和产业性质存在的差异,汇率升值主要通过出口途径降低了劳动密集型部门工人的福利,主要通过投入品进口途径和制成品进口途径分别提高了资本密集型部门和技术密集型部门工人的福利。最后,本文就长短期内如何调整人民币汇率以促进制造业工人福利改善提出了一些政策建议。     

锁定效应与中国代工产业升级——基于制造业分行业面板数据的经验研究

以代工模式嵌入全球价值链,是后进国家实现工业化的有效战略和重要途径,但可能因锁定效应而不利于经济可持续发展与产业升级。本文首先从投入、需求与功能三个维度将代工产业的锁定效应分解为要素锁定效应、市场锁定效应和价值链锁定效应,进而利用2001-2008年中国制造业分行业面板数据,实证研究了国际代工模式下不同要素密集型产业的锁定效应。结果显示:劳动密集型制造业表现出要素锁定效应和市场锁定效应,资本密集型、技术密集型制造业则兼具上述三种锁定效应;外资代工促成了劳动密集型制造业的锁定效应,全球价值链分工因素对资本密集型制造业具有"双刃剑"作用,对技术密集型制造业则具有显著的锁定效应;工资水平对劳动密集型制造业的锁定效应具有显著影响,资本密集型制造业的锁定效应与工资水平、规模经济和创新强度显著相关,技术密集型制造业的锁定效应则受到创新强度和外部制度因素的显著影响。本文结论意味着不同类型的产业升级应当采取差异化的政策措施。     

试论在华跨国公司进入模式的独资倾向及我国的对策

自20世纪90年代以来,在华跨国公司进入模式表现出明显的“独资倾向”,这对我国经济有着双重的影响,我国政府和企业应正确认识这一现象,并采取适当、有效的措施加以应对。