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1.
This paper studies the dynamics of the export behaviour of small and medium sized enterprises (SMEs) in the U.K. between 1994
and 1998. I use a dynamic empirical model to disentangle three distinct dimensions of a firms’ participation in foreign markets:
sunk cost induced hysteresis, firm heterogeneity and macroeconomic instability. The results show that SMEs view exporting
as an irreversible investment, with state dependence being the largest explanatory factor. Moreover, observable firm characteristics,
such as size and ownership, play a significant role in distinguishing exporters from non-exporters. Finally, there is no evidence
that the 1992–1993 recession influenced firms’ export decisions in subsequent years implying that the results provide a valid
indication of SMEs "typical" export behaviour. 相似文献
2.
Densil A. Williams 《Journal of International Entrepreneurship》2008,6(3):101-122
This paper reports the findings from an empirical investigation into the export stimulation behaviour of micro- and small
locally owned firms. It investigates whether the decision to initiate exporting in these smaller firms is a result of a systematic
planned investigation into foreign market opportunities or is a mere response to fortuitous circumstances. This issue has
received extensive attention in the literature on the internationalisation of firms from large developed environments, but
very little is known about it in emerging environments especially small, open economies. This study will add to the literature
by investigating export stimulation from a small, emerging Caribbean economy, Jamaica. Using a quantitative approach supported
by insights from qualitative data gained during the fieldwork, the study analysed 20 stimuli that are demonstrated to impact
export initiation decision. The key finding reveals that export initiation is a result of a planned systematic approach to
international market rather than a mere response to fortuitous circumstances. The originality of this finding is in its extension
of earlier work from developed economies to an emerging, resource-poor, open economy and its departure from analysing large
and multinational firms to focus on micro- and small locally owned firms.
相似文献
Densil A. WilliamsEmail: |
3.
This paper investigates the importance of transport costs in new venture internationalisation, i.e. of firms that start exporting
before they are 3 years of age. It does so by merging two large international datasets, on the firm level (covering 49,584
firms) as well as on the country level (covering 154 countries). It is found that transport costs matter significantly for
new venture internationalisation, for older firms’ decision to export, as well as the extent of the latter’s subsequent exports.
Export costs, the quality of transport infrastructure and domestic logistics costs affect new venture internationalisation
even when controlling for a range of standard determinants. New international ventures behave differently from older firms
in two important ways: (1) Transport costs affect the probability that they will export but not the extent of their subsequent
exports and (2) their probability of exporting is affected negatively by their networking, domestic success and ISO status,
whilst in the case of older firms, these factors have a positive impact. Various recommendations for policy and further research
are made. 相似文献
4.
Corporate Philanthropic Disaster Response and Ownership Type: Evidence
from Chinese Firms’ Response
to the Sichuan Earthquake 总被引:3,自引:0,他引:3
This article examines whether the charitable giving amount and likelihood of firm response to catastrophic events relate to
firms’ ownership type using a unique dataset of listed firms in China, where state ownership is still prevalent. Based on
the data of Chinese firms’ response to the 2008 Sichuan earthquake, we find that the extent of corporate contributions for
state-owned firms following this disaster is less than that for private firms. State-owned firms are also less likely to respond
in␣this disaster compared to private firms. The results also␣reveal that firm size, profitability, geography, cash resource
available, and leverage affect firms’ philanthropic disaster response behavior in China. 相似文献
5.
Using a large panel of Italian firms, spanning the years from 1995 to 2003, this study investigates the relationship between
bank debt and non-financial SMEs’ performance, evaluating whether and to what extent this link is affected by the degree of
competition characterising the local credit market where firms operate. Controlling for inertia, unobserved heterogeneity
and the endogeneity of some performance determinants, we find that the (negative) impact of bank debt on firms’ performance
is weaker for firms running in more competitive banking markets. We interpret this result as evidence that a more intense
banking competition may lead to better credit conditions for small and medium-sized firms. 相似文献
6.
Ning Li 《Journal of Business Ethics》2008,80(4):771-789
One challenge that globalization has brought to business is that firms, as they expand their market globally through cross-border
alliances, need to deal with partner firms from countries of different religious background. The impact of a country’s dominant
religion on its firms’ international market entry mode choices has not been examined in traditional approaches. Focusing on
hypothesizing the influence of Christian beliefs and atheism (i.e., the absence of belief in any deities), this research aims
to fill the gap by exploring religion’s role in providing moral restraint on managers’ propensity for opportunism, which in
turn affects these managers’ choices of their firms’ international market entry via non-equity alliances or joint ventures.
A study of 22,156 cross-border alliances formed in 48 industries world-wide over 9 years provides new insight toward understanding
religion’s influence on firms’ international market entry mode decisions through the ethical dimension of strategic leadership.
This article would fit best under the International Management section for reviewing purposes. 相似文献
7.
This paper studies the effects of local market attributes on local firms’ exports of innovations. Our starting point are three
common hypotheses. First, innovations are a major determinant for the export performance of firms. Second, user–producer interaction
is an important factor for successful innovations. Third, user–producer interaction is most efficient in close proximity.
Taken together this would mean that intense local user–producer interaction increases exports. This reasoning contradicts
a main proposition in international management that overt local responsiveness may be hampering export chances of a firm.
In order to generate global innovations, an international firm should look at the world market instead, for instance by identifying
the global common denominator of national preferences. Yet, many local innovations have become globally successful. This paper
investigates the question to what extent local demand is capable of inducing innovations that are export effective. We utilize
data from the German innovation survey of 4,786 firms in the manufacturing and service industries. In this survey firms were
asked about the sources of their innovation and their export activities. We find evidence that the export orientation and
the domestic demand structure stimulate export success. 相似文献
8.
Determinants of Managerial Values on Corporate Social Responsibility: Evidence from China 总被引:1,自引:0,他引:1
This article empirically investigates how Chinese executives and managers perceive and interpret corporate social responsibility
(CSR), to what extent firms’ productive characteristics influence managers’ attitudes towards their CSR rating, and whether
their values in favour of CSR are positively correlated to firms’ economic performance. Although a large proportion of respondents
express a favourable view of CSR and a willingness to participate in socially responsible activities, we find that the true
nature of their assertion is linked to entrepreneurs’ instincts of gaining economic benefits. It is the poorly performing
firms, or rather, firms with vulnerable indicators – smaller in size, State-owned, producing traditional goods and located
in poorer regions that are more likely to have managers who opt for a higher CSR rating. Managers’ personal characteristics
per se are not significant in determining their CSR choice. Moreover, controlling for other observed variables, we find that managers’
CSR orientation is positively correlated with their firms’ performance. The better-off a firm is, the more likely its manager
is to get involve in CSR activities. Firms with better economic performance before their restructuring would sustain higher
post-restructuring performance. 相似文献
9.
Why Firms Engage in Corruption: A Top Management Perspective 总被引:2,自引:1,他引:1
This study builds upon the top management literature to predict and test antecedents to firms’ engagement in corruption. Building
on a survey of 341 executives in India, we find that if executives have social ties with government officials, their firms
are more likely to engage in corruption. Further, these executives are likely to rationalize engaging in corruption as a necessity
for being competitive. The results collectively illustrate the role that executives’ social ties and perceptions have in shaping
illegal actions of their respective firms. 相似文献
10.
Jonathan Brookfield 《Small Business Economics》2008,30(4):405-422
This study investigates links between firm clustering and firm specialization. The paper argues that firms located in multi-centered,
locally owned industrial districts are likely to be relatively specialized. Based on data from 163 companies in Taiwan’s machine
tool industry, this study finds support for a positive association between location in a multi-centered, locally owned industrial
district and firm specialization.
相似文献
11.
We study the impact of firm and industry characteristics on small firms’ capital structure, employing a proprietary database
containing financial statements of Dutch small and medium-sized enterprises (SMEs) from 2003 to 2005. The firm characteristics
suggest that the capital structure decision is consistent with the pecking-order theory: Dutch SMEs use profits to reduce
their debt level, and growing firms increase their debt position since they need more funds. We further document that profits
reduce in particular short-term debt, whereas growth increases long-term debt. We also find that inter- and intra-industry
effects are important in explaining small firms’ capital structure. Industries exhibit different average debt levels, which
is in line with the trade-off theory. Furthermore, there is substantial intra-industry heterogeneity, showing that the degree
of industry competition, the degree of agency conflicts, and the heterogeneity in employed technology are also important drivers
of capital structure. 相似文献
12.
Elena Fraj-Andrés Eva Martinez-Salinas Jorge Matute-Vallejo 《Journal of Business Ethics》2009,88(2):263-286
Since it implies a reduction in the quality and the quantity of the natural resources, environmental degradation is a present
day problem that requires immediate solutions. This situation is driving firms to undertake an environmental transformation
process with the purpose of reducing the negative externalities that come from their economic activities. Within this context,
environmental marketing is an emerging business philosophy by which organizations can address sustainability issues. Moreover,
environmental marketing and orientation are seen as valuable strategies to improve a firm’s competitiveness. However, the
literature that has analyzed the link between environmental strategies and firms’ results has been inconclusive and contradictory.
In this study, we propose and test a model that analyses how the implementation of ecological issues within a firm’s marketing
strategy and orientation influences organizational results. Data were obtained through a survey sent to Spanish manufacturing
firms. The results show that environmental marketing positively affects firms’ operational and commercial performance and
this improvement will influence their economic results. Moreover, environmental marketing is revealed as an excellent strategy
to obtain competitive advantages in costs and in product differentiation. Thus, this study agrees with the researchers who
affirm that environmental strategies positively affect firm’s competitiveness while reducing environmental impact. 相似文献
13.
This paper analyzes the real motivations behind independent directors’ (IDs) job-hopping behavior based on 75 cases from 2001
to 2005. Relevant extant literature is reviewed and an analytical framework based on reputation incentive mechanism (such
as company reputation, a company’s position in the hierarchy of Chinese firms’ administrative reporting relationships, and
job risks) and economic incentive mechanism (including IDs’ remunerations and HR costs) have been put forward. Results show
that reputation-related factors, such as a listed company’s reputation and job risks, are the main influencing factors of
IDs’ job-hopping behavior. This finding indicates that sole emphasis on IDs’ remunerations may not able to motivate IDs effectively
and the reputation mechanism is more effective in motivating IDs. Contributions of this paper include enrichment of the extant
literature on corporate governance from a brand-new perspective and provision of empirical evidence for further improvement
in the incentive mechanisms for IDs.
Translated and revised from Zhongguo Kuaiji Pinglun 中国会计评论 (China Accounting Review), 2008, 6(2): 177–192 相似文献
14.
《International Business Review》2016,25(4):921-932
Innovation capacity and international experience are factors often related to the internationalisation process of firms, with export activities as the first stage of the process. However, firms from emerging countries seem to show advantages and follow patterns of international expansion that may differ from firms based in developed countries, where the internationalisation models were created. Specifically, exporting firms from emerging countries tend to have limited resources, especially small firms (e.g., for investing in R&D). Despite these facts, the literature on export performance seems biased towards recommending firms to enhance, above all, their innovation capacity in order to achieve better export performance, while little attention is paid to international experience as a factor that is as important as innovation. In this context, the objective of this study is to investigate the impact of innovation capacity and international experience on the export performance of small and medium-sized enterprises (SMEs) located in an emerging country and to identify which factor is more significant. The Resource-Based View and Dynamic Capabilities approach were used as theoretical frameworks. A research model was developed and tested on a significant sample of Brazilian industrial SMEs. The data were analysed through partial least squares structural equation modelling. The results indicate that international experience has a greater impact on export performance than innovation capacity, showing that there is possibility of overemphasising the role of innovation in the export performance of SMEs, at least, in the Brazilian context. 相似文献
15.
The international trade literatures on gravity modelling and firm‐level export behaviour have established that nontariff barriers are important impediments to international trade flows. In this paper, we provide fresh evidence on the actual barriers to exports firms face and how they vary with firm‐level characteristics. Our results indicate that the higher the export experience of firms the lower are the trade costs they face. These barriers are not related to other firm‐level characteristics, such as productivity and size, found by the literature to be associated with export market entry. Overall, these results suggest the existence of a process of learning to export whereby firms learn how to cope with export barriers through direct experience in export markets. 相似文献
16.
Drawing on risk mitigation theory, this article examines whether the improvement of firms’ social performance reduces debt
financing costs (CDFs) in China, the world’s largest emerging market. Employing both the ordinary least square (OLS) and the
two-stage instrumental variable regression methods, we find that improved corporate social responsibility (CSR) reduces the
CDF when firms’ CSR investment is lower than an optimal level; however, this relationship is reversed after the CSR investment
exceeds the optimal level. Firms with extremely low or extremely high CSR are subject to a higher CDF. The results also suggest
that the optimal CSR level for small firms is higher than that for large firms. This study is the first to document a U-shaped
relationship between CSR and CDF and also the first to investigate this relationship within an emerging market context. 相似文献
17.
Competition for Business Location: A Survey 总被引:1,自引:1,他引:0
C. Dembour 《Journal of Industry, Competition and Trade》2008,8(2):89-111
This paper focuses on the links between firms’ mobility and the shaping of regional policy, with a particular focus on tax
and infrastructure policy decisions. We survey the recent literature exploring the impact of firms’ location choice, and its
determinants, on the level of competition between regional governments. We confront theoretical results with empirical evidences.
相似文献
18.
This article studies how financial investors respond to firms’ corporate social responsibility (CSR) performance in terms
of their investing behaviors, and how such behaviors change contingent on an event that provokes their attention and concerns
to CSR. Using the melamine contamination incident in China as a natural experiment, it is found that neither the individual
investors’ nor the institutional investors’ behaviors are influenced by firms’ CSR performance before the incident. Nevertheless,
in the post-event period, institutional investors’ behaviors are significantly influenced by firms’ CSR performance that exceeds
a certain threshold. Furthermore, such an effect diminishes for a better CSR performance. In comparison, the authors do not
find any effects of CSR performance on individual investors, either before the event or after the event. Finally, firms’ performance
and investors’ behaviors jointly affect firms’ stock returns after the event but not before the event. This article reconciles
the mixed findings in the literature on the effect of firms’ CSR performance on their financial performance by showing that
such an effect exists in a contingent manner. Furthermore, the authors show that a too low or a too high CSR performance could
lead to undesirable responses from investors. Therefore, managers should pay attention to optimizing firms’ CSR activities. 相似文献
19.
This paper documents the relationship between R&D, firm size, and growth rate for a panel data of Taiwanese electronics firms.
Using GMM method to control for endogeneity of R&D, the main finding is that an increase in R&D induces a higher growth rate
and this impact is particularly higher for small firms. Testing Gibrat’s law shows that small firms indeed have a higher growth
rate than their larger counterparts, while size is independent with firm growth in the group of large-sized
firms, supporting the weak form of Gibrat’s law. 相似文献
20.
Stefano Colombo 《Journal of Industry, Competition and Trade》2011,11(4):325-349
We study the pricing policy equilibria emerging in a partial collusion duopolistic framework where firms in the first stage
of the game choose non-cooperatively the pricing strategy (perfect price discrimination or uniform pricing), and from the
second stage onward collude on prices. We show that for intermediate discount factors and high firms’ asymmetry, the unique
equilibrium is characterized by only the smaller firm choosing price discrimination. In the case of intermediate discount
factors and low firms’ asymmetry, there are two possible equilibria: both firms price discriminate or no firm price discriminates.
When the discount factor is particularly high or particularly low both firms price discriminate in equilibrium. 相似文献