共查询到20条相似文献,搜索用时 31 毫秒
1.
Francesca Gagliardi 《Small Business Economics》2009,32(4):439-464
The purpose of this article is to empirically assess the relationship existing between local financial development and the
growth of firms, with a special focus on cooperatives. Using Italian data, a multiplicative interaction model is specified,
so as to allow the impact of local banking development to differ between cooperative and non-cooperative firms. The main finding
is that although local banking development represents a determinant of firms’ growth, regardless of their legal structure,
it plays a special role in boosting the growth of cooperatives. This result provides evidence in favor to the existence of
an institutional complementarity relationship between the development of local banking institutions and cooperative firms.
相似文献
Francesca GagliardiEmail: |
2.
The impact of public guarantees on credit to SMEs 总被引:1,自引:0,他引:1
This article provides an in-depth evaluation of the impact of public credit guarantees to SMEs in increasing credit availability
and reducing borrowing costs, without compromising their financial sustainability. Extensive econometric tests have been carried
out by comparing the performance of the SMEs that benefited from such guarantees in Italy with a sample of comparable firms.
The findings confirm the presence of a causal relationship between the public guarantee and the higher debt leverage of guaranteed
firms, as well as their lower debt cost. Italy’s guarantee instrument has proved to be an effective instrument in these respects.
相似文献
Marco Ventura (Corresponding author)Email: |
3.
Robert M. Feinberg 《Journal of Industry, Competition and Trade》2009,9(2):101-115
In this paper I consider 115 rural markets in the USA, and both describe and explain patterns of bank and thrift entry over
the past 10 years, with particular interest in the decisions of top bank holding companies to enter rural markets and the
influence their presence has on entry of smaller banking institutions. The paper explores several dimensions of entry and
competition in rural banking markets. In terms of explaining both numbers of banks across markets and gross and net entry
within markets, market size and its growth seem to be major factors, consistent with recent literature. The role of leading
bank holding companies is found to be important in stimulating entry of smaller rivals. This result is consistent with earlier
work suggesting that merger and acquisition activity tends to stimulate de novo entry, while also with the view that large
firm presence may be a signal to potential entrants of future growth prospects in the market.
相似文献
Robert M. FeinbergEmail: |
4.
Managing the shipment of goods to consumers is one of the central aspects of retail competition on the internet. In this article, we analyze internet retailers’ shipping strategies using data from the internet book retailing industry. We find that, controlling for a variety of observable firm characteristics, firms with lower product prices offer lower shipping fees and higher quality shipping in terms of average delivery time, compared to firms with higher product prices. These patterns cannot be readily reconciled with a large class of models of competition under perfect consumer information. Theories based on imperfect consumer information can explain the findings better.
相似文献
Han LiEmail: |
5.
The research reported in this article develops a model for assessing the cost of banking services faced by small businesses.
The lack of price competition in the provision of small business banking services combined with limited transparency concerning
actual fee levels prevents small businesses from readily estimating likely fee levels. Prior research and government reports
note the difficulties faced by small business in relation to banking services and this research contributes to an understanding
of the potential dead weight losses incurred resulting from poor signalling and information asymmetry and potentially a deficient
public policy framework.
相似文献
Stuart LockeEmail: |
6.
In this article, we argue that firms in high-margin industries can benefit from founding family influence. Specifically, in
more profitable markets, the influence of the founding family provides an additional corporate governance-monitoring function.
The sample consists of 294 firm-year observations from 98 publicly traded companies headquartered in Sweden, representing
approximately half of all non-financial traded firms. Our support that the effect of family leadership in publicly held firms
should be assessed in relation to the intensity of industry competition.
相似文献
Justin B. CraigEmail: |
7.
Hermann-Josef Lamberti Dr. Matthias Büger 《Business & Information Systems Engineering》2009,1(1):26-36
Based on the lessons learned from the last 50 years, statements are derived of which the authors claim that these will continue
to be valid in future: Information technology in the banking industry supports business processes – selecting and designing
processes will continue to decide about economic success in future. The necessity of handling a growing business volume will
still be the major driver for using new information technology in the banking industry. It will be even more important than
the aim of reducing costs by automation. Industrialization of IT will also change the use of technology in the banking industry.
Hence, banks do not necessarily have to run their systems alone but may outsource services if required. The definition of
the major business fields will significantly influence the banks’ IT strategy and, among other factors, will decide on the
market success of a bank. Technological development will have an increasing effect on the banking business, will change it,
and enable new business models. Successfully dealing with technology-induced changes predominantly depends on a company’s
employees.
相似文献
Matthias Büger (Corresponding author)Email: |
8.
Dealing with managerial incentive in an oligopolistic competition market where the relevant strategic variables are not directly
quantities but incentive schemes. It is found that, in the sequential delegation model, the leader output will not be affected
by changing the number of the follower firms when there is only one leader. In addition, more equal distribution of the number
of leaders and followers will result in higher industry output, lower price, lower industry profit, higher consumer surplus
and higher economic welfare; moreover, economic welfare in the sequential delegation model is always higher than in a simultaneous
delegation model.
相似文献
Leonard F. S. WangEmail: |
9.
Helmut Fryges 《Small Business Economics》2009,33(2):165-187
Based on longitudinal data, this article examines empirically the long-term export behaviour of German and British technology-oriented
firms founded between 1987 and 1996. Applying logit models, the results show that firms can overcome high entry costs by acquiring
firm-specific assets. Similarly, firm-specific resources prevent high-tech companies from exiting the international market.
The strategic role of investment in R&D is stressed in particular by the data.
相似文献
Helmut FrygesEmail: |
10.
Michaela Draganska Michael Mazzeo Katja Seim 《Quantitative Marketing and Economics》2009,7(2):105-146
This paper investigates empirically the product assortment strategies of oligopolistic firms. We develop a framework that
integrates product choice and price competition in a differentiated product market. The present model significantly improves
upon the reduced-form profit functions typically used in the entry and location choice literature, because the variable profits
that enter the product-choice decision are derived from a structural model of demand and price competition. Given the heterogeneity
in consumers’ product valuations and responses to price changes, this is a critical element in the analysis of product assortment
decisions. Relative to the literature on structural demand models, our results show that incorporating endogenous product
choice is essential for policy simulations and may entail very different conclusions from settings where product assortment
choices are held fixed.
相似文献
Katja SeimEmail: |
11.
Andy Lockett Mike Wright Andrew Burrows Louise Scholes Dave Paton 《Small Business Economics》2008,31(1):39-58
In this study we examine how venture capital (VC) firms influence the export behavior of their investee companies. VC firms
perform an important governance function for investee companies by providing monitoring and value-added activities. Drawing
on agency theory, the resource-based view of the firm and governance life-cycle theory we hypothesize that the relationship
between VC governance resources and investee exporting behavior is moderated by investment stage. Employing a sample of 340
VC-backed firms, our results confirm this hypothesis. Monitoring resources are most effective in promoting export behavior
for late-stage ventures and value-added resources in promoting export behavior in early-stage ventures.
相似文献
Dave PatonEmail: |
12.
This paper examines the relationship between agglomeration economies and relative wage costs in influencing location of multinational
corporations. An inflow of firms to certain regions and industries is likely to increase demand for labor. If mobility of
labor is low increased costs can be expected to deter additional inflows of firms, albeit agglomeration economies may compensate
for higher wages. Despite its important policy implications this relationship has to our knowledge not been exposed to empirical
testing. The empirical analysis finds that foreign direct investment has become increasingly sensitive to differences in wage
cost across industrialized countries, but also that agglomeration economies related to knowledge externalities positively
influences higher costs. The relative strength of these two forces impacts the spatial distribution of production.
相似文献
Per ThulinEmail: |
13.
The paper examines the impact of Foreign Direct Investment (FDI) on the survival of business start-ups. FDI has potential
for both negative displacement/competition effects as well as positive knowledge spillover and linkage effects on new ventures.
We find a net positive effect for the whole dataset. However, a major contribution of the paper is to outline and test an
argument that this effect is likely to be comprised of a net negative effect in dynamic industries (high churn: firm entry
plus exit relative to the stock of firms) alongside a net positive effect in static (low churn) industries. We find evidence
to support this view. The results identify new effects of globalisation on enterprise development with associated challenges
for industrial policy.
相似文献
Andrew BurkeEmail: |
14.
Innovation in SMEs exhibits some peculiar features that most traditional indicators of innovation activity do not capture.
Therefore, in this paper, we develop a structural model of innovation that incorporates information on innovation success
from firm surveys along with the usual R&D expenditures and productivity measures. We then apply the model to data on Italian
SMEs from the “Survey on Manufacturing Firms” conducted by Mediocredito-Capitalia covering the period 1995–2003. The model
is estimated in steps, following the logic of firms’ decisions and outcomes. We find that international competition fosters
R&D intensity, especially for high-tech firms. Firm size and R&D intensity, along with investment in equipment, enhances the
likelihood of having both process and product innovation. Both these kinds of innovation have a positive impact on firm’s
productivity, especially process innovation. Among SMEs, larger and older firms seem to be less productive.
相似文献
Jacques MairesseEmail: |
15.
This paper analyses the performance of the small and medium-sized manufacturing firms during the period 1995–2001, focusing
on the degree of technical inefficiency and its determinants. We use a micro panel data set to simultaneously estimate a stochastic
frontier production function and the inefficiency determinants using an unbalanced panel of manufacturing firms. Our empirical
results suggest that small and medium-sized firms tend to be less inefficient than the large firms are. Also, we centre our
analysis in the effect on efficiency of some organisational factors related to the managerial ability to use and adjust capital
and labour properly.
相似文献
M. Angeles DiazEmail: |
16.
Effect of credit guarantee policy on survival and performance of SMEs in Republic of Korea 总被引:1,自引:1,他引:0
This study evaluates the effect of credit guarantee on SMEs at the firm level. To estimate the effect of credit guarantee,
we analyze relations between credit guarantee, the survival of guaranteed firms, and their productive performance. The result
indicates that credit guarantee frequency enabled guaranteed firms to achieve good performances in general. On the contrary,
the effect of guarantee amounts is ambiguous in that there is difference between the contemporary effect and the lagged effect.
Therefore, we conclude that credit guarantee satisfied partially its goal to alleviate SMEs’ difficulty in acquiring finance
and to stabilize employment.
相似文献
Almas HeshmatiEmail: Email: |
17.
The article analyses the relationship between succession and firm performance. Applying a non-parametric matching approach
on a panel of roughly 4,000 Austrian family firms we evaluate the impact of actual (past) succession as well as planned (future)
successions on employment growth. Analysing succession plans, we do not find a significant difference in employment growth
between firms that plan to transfer the firm in the next 10 years and those who do not. In contrast, past succession exerts
a significant and positive employment growth effect, which becomes stronger over time.
相似文献
Denise Sandra DiwischEmail: |
18.
Scott Fay 《Marketing Letters》2009,20(3):277-293
This paper shows that the Name-Your-Own-Price (NYOP) business model can help soften competition. When consumers differ in
their frictional costs (i.e., the shopping hassle) they experience when bidding at an NYOP retailer, the NYOP format can be
a mechanism for differentiating a retailer from a posted-price rival. Beyond providing a motivation for using an NYOP mechanism,
competition also has important implications for the optimal structure of the NYOP format. For example, this paper shows that
prohibiting rebidding may benefit an NYOP firm by reducing price rivalry.
相似文献
Scott FayEmail: |
19.
This paper examines the relationship between new firm formation and regional employment change in The Netherlands. Using a
new regional data base for the period 1988–2002, we examine the time lags involved in the relationship. We also investigate
whether the relationship differs by sector and by degree of urbanization. We find that the maximum effect of new businesses
on regional development is reached after about 6 years. Our results also suggest that the overall employment impact of new-firm
start-ups is positive but that the immediate employment effects may be small in The Netherlands. Furthermore, we find that
the employment impact of new firms is strongest in manufacturing industries and that the employment impact of new firms is
stronger in areas with a higher degree of urbanization.
相似文献
André van StelEmail: |
20.
In this paper we evaluate the effectiveness of R&D tax incentives in Quebec, using manufacturing firm data from 1997 to 2003
originating from R&D surveys, annual surveys of manufactures and administrative data. The estimated price elasticity of R&D
is –0.10 in the short run and –0.14 in the long run, with slightly higher elasticities for small firms than for large firms.
We show that there is a deadweight loss associated with level-based R&D tax incentives that is particularly acute for large
firms. For small firms it is not sizeable enough to suppress the R&D additionality, at least not for quite a number of years
after the initial tax change. Incremental R&D tax credits do not suffer from this deadweight loss and are from that perspective
preferable to level-based tax incentives.
相似文献
Pierre MohnenEmail: |