High-Technology Employment Growth in Major U.S. Metropolitan Areas

High technology employment has received little attention in shift-share analysis. The purpose of this paper is to utilize shift-share analysis to analyze high technology employment change in 37 metropolitan areas. We find that shift share analysis is a useful tool to study employment gains and losses in metropolitan areas. Most of the gains and losses in a metropolitan area can be explained by the regions competitiveness component.     

Economic benefits of enterprise resource planning systems: some empirical evidence

The present study provides empirical evidence on the economic benefits of enterprise resource planning (ERP) systems. We use a modified value chain approach and identify several ratios for each component of the value chain to reflect improvements as a result of the adoption of ERP systems. These financial ratios are tracked for 2 years for a group of companies that adopted ERP systems versus a group of companies that did not adopt ERP. Both univariate and multivariate statistics are used to test for differences. The key result of the present study is that the adoption of ERP systems leads to sustained operational efficiencies and improved overall liquidity. In addition, some support is found for increased profitability 2 years after the adoption of ERP and for improvements in accounts receivable management.     

Internal Reporting of Derivatives: Some Australian Evidence

This paper provides evidence on the internal reporting of derivatives by Australian non-banking companies. The key findings, based on a survey of the top 100 Australian companies, are: (i) most companies have well established policies and procedures to deal with derivatives; (ii) for most companies the board of directors and the external auditors receive only monthly reports on derivatives, limiting their ability to monitor continuously the firms' exposure to derivatives; and (iii) none of the companies continuously revalues its derivatives and assesses the risks associated with its exposure, with more than half of the companies evaluating their exposures less frequently than weekly.     

The Impact of Quasi‐Regulatory Reforms on Boards and Their Committees During the Period 2001–2007

This study investigates the cumulative impact of quasi‐regulatory and regulatory reforms, and political pressure on board composition and sub‐committees of boards over the period 2001 to 2007. Based on a sample of 450 firms listed on the Australian Stock Exchange, we find that most firms complied with the Principles of Good Corporate Governance and Best Practice by 2007. In particular, 85% of firms had an independent board and there was a significant increase in majority independent committees (audit, remuneration and nomination). While there was an increase in majority board independence, the increase in the mean level of board independence to 71% was modest. The level of compliance was highest for large firms, but the impact was largest on small firms, which changed their board composition the most. The relation between firm characteristics and board composition declined between 2001 and 2007, and changes in board composition were not able to be explained by changes in firm characteristics. If it is assumed that firms on average select their board to reflect their economic needs, this suggests that the changes in board composition may have been costly for firms.     

The Internationalization of Small and Medium-Sized Enterprises: A Policy Perspective

Small Business Economics - Small and medium sized firms play an important role in the process of creative destruction. The focus of the paper is on the international diffusion of small and medium...     

Growth and entrepreneurship

In this paper we suggest that the spillover of knowledge may not occur automatically as typically assumed in models of endogenous growth. Rather, a mechanism is required to serve as a conduit for the spillover and commercialization of knowledge from the source creating it, to the firms actually commercializing the new ideas. In this paper, entrepreneurship is identified as one such mechanism facilitating the spillover of knowledge. Using a panel of entrepreneurship data from 18 countries, we provide empirical evidence that, in addition to measures of Research & Development and human capital, entrepreneurial activity also serves to promote economic growth.     

Age and entrepreneurship: nuances from entrepreneur types and generation effects

The literature on the relationship between age and entrepreneurship has been inconclusive. This study for the first time examines this relationship by extending the occupational choice literature to eight entrepreneur types and four generational modification effects in the USA. Multilevel mixed-effect logistic regression models are estimated to examine the age effects in entrepreneur type propensities. Generational modification effects are compared for the same ages across neighboring generations by hierarchical age-period-cohort (HAPC) models. We find that entrepreneurial propensity rises with age until around 80. The propensity of novice (versus non-novice) and unincorporated (versus incorporated) entrepreneurs has a U-shaped age trend dipping around age 60, while the propensity of full-time (versus part-time) declines since age 30s. The propensity of incorporated (versus unincorporated) entrepreneurs declines from ages 44 to 51 for Gen-Xers, but not for Boomers; this propensity also declines faster for Boomers than for Traditionalists from ages 63 to 70.     

Capitalisation of Intangibles — A Review of Current Practice and the Regulatory Framework

This paper reports on capitalisation practices of Australian managers for a large sample of firms in the 1993–97 period, and on accounting regulatory issues in relation to intangibles during and after this period. The data show diversity in capitalisation practices in 1993–97, which we suggest is a consequence of abstract conceptual bases for capitalisation decisions under the Australian regulatory framework. The analysis indicates the framework retains traditional emphasis on conservatism and reliable measurement while providing managers with substantial accounting discretion to capitalise intangible assets. We conclude there is an imperative for research investigating capitalisation decisions for intangibles to guide any further regulation.     

THE PRIMARY, SECONDARY, TERTIARY AND QUATERNARY SECTORS OF THE ECONOMY

The recognition of differences among the major sectors of the economy, such as agriculture, commerce, or manufacturing, has a considerable tradition in economic thinking. Also, there is evidence that important national and international predicaments of our time are closely related to sectoral-structural developments. Yet economists in the developed countries are often disinclined to study the shifts among the megasectors.
This paper suggests that an intensified study of the topic may be profitable. In order to support this proposition it first reflects on the traditions of sectoral emphasis in literature. Second, it considers the evidence for the ascendancy of the quaternary activities. Third, it deals with the input-output relations among the four megasectors of the economy. Thereafter it points to the emergence of potential inefficiencies among quaternary activities and raises the possibility of a megasector misequilibrium. Finally it outlines certain connections to the thoughts of Leontief and Sraffa; considers services in the neoclassical framework; explores the relationships to institutional thought; and ponders the extension of its basic hypothesis to the developing nations, the socialist countries, and to historical analysis.