Innovation Capability and Performance Of Manufacturing SMEs: The Paradoxical Effect of IT Integration

In theory, IT integration through applications such as enterprise resource planning, manufacturing resource planning, and electronic data interchange provides an organization with the ability to exploit innovation capabilities. Based on survey data obtained from 309 Canadian manufacturing small and medium-sized enterprises (SMEs), this study aims to identify the enabling effect of IT integration on the innovation capability of manufacturing SMEs—in terms of growth and productivity outcomes—and to verify if this effect is subject to industry influences. While the firm's innovation capability was found, as expected, to be positively related to the growth and productivity of manufacturing SMEs, the results underline paradoxical effects of IT integration in this regard. While IT integration was not seen to enable the innovation capability of manufacturing SMEs in terms of growth, it was seen to have a disabling effect on this same capability with regard to productivity.     

On Constructive Technology Assessment and Limitations on Public Participation in Technology Assessment

The paper reviews selected literature on the theory and practice of constructive technology assessment (CTA), which represents a promising approach for managing technology through society. CTA emphasises the involvement and interaction of diverse participants to facilitate 'upstream' (or anticipatory) learning about possible impacts of technology and socially robust decision-making. The paper seeks to identify limitations of CTA, as these relate to the broadening of debate about nascent, controversial technology. In particular, it considers the relevance of CTA to the achievement of more democratic decision-making about technology. In addition, the paper directs attention towards differences in participants' discursive capacities and rhetorical skills that may affect the role and contribution of non-expert citizens in technology assessment. The paper draws upon the debate between Habermas and Foucault to suggest promising avenues for future research based on technology assessment conceptualised as discourse. It concludes that the theory and practice of CTA may be improved by addressing explicitly possible structural limitations on the broadening of debate, whilst invoking a notion of technology assessment as discourse to point up cultural, subjective or cognitive limitations on agency.     

Competition,contested retail space and the rise of the department store in Imperial Germany

This paper explores the highly contested evolution of the department store in Imperial Germany from an open systems theory perspective. Existing approaches advocating an open systems interpretation highlight the importance of environmental conditions and their feedbacks to the organization and performance of the retail institution. In general, this framework lends itself well to an interpretation of German department store history as many of the critical demand-side and supply-side conditions are also present. However, one set of conditions remains understated in the previously published literature: to understand German department store evolution, it is vital to appreciate the importance of the changing nature of competition, social relations among retailers and regulation on the performance and internal organization of the retail institution.     

The largest European firms and their changing size structure: An entropy measure

The purpose of this paper is to determine whether size disparity among the 50 largest EEC and British industrial firms (in terms of assets) has changed from the period 1958 through 1969 and among the 100 largest firms from the period 1962 through 1969. The entropy measure has been selected because it can be decomposed into a within-group component and an among-group component. The main results of the study indicate that for the whole group,concentration has decreased over the period, but that a striking difference appears between the set of EEC firms characterized by a marked decline in relative concentration, and the set of British firms showing a relatively stable degree of concentration. Furthermore the differential growth of British and EEC firms appears clearly.     

Tax policy and returns to education

This paper considers how asymmetric tax treatment, where labour market earnings are taxed but household production is untaxed, affects educational choice and labour supply. We show that taxes on labour market earnings can generate a large (non-marginal) switch to home production and the ensuing deadweight losses are large. Using a cross-country panel, we find that gender differences in labour supply responses to tax policy can explain differences in aggregate labour supply and years of education across countries.     

Debt Issuance in the Face of Tax Loss Carryforwards

We examine the market impact of issuances of public and private debt by firms with sizeable tax loss carryforwards (TLCFs). Public issuances are met with a significantly negative stock price reaction, while private placements are associated with a positive marginally significant stock price reaction. After controlling for asymmetric information proxies, the stock price reaction to the debt issuance is more negative, the larger the TLCF. The evidence suggests that debt financing is suboptimal when issuers have large TLCFs, which in turn, supports the relevance of taxes for debt usage.     

Structural models and endogeneity in corporate finance: The link between managerial ownership and corporate performance

This paper presents a parsimonious, structural model that isolates primary economic determinants of the level and dispersion of managerial ownership, firm scale, and performance and the empirical associations among them. In particular, variation across firms and through time of estimated productivity parameters for physical assets and managerial input and corresponding variation in optimal compensation contract and firm size combine to deliver the well-known hump-shaped relation between Tobin's Q and managerial ownership. To assess the effectiveness of standard econometric approaches to the endogeneity problem, we apply those remedies to panel data generated from the model. The unfortunate conclusion is that, at least in the ownership-performance context, proxy variables, fixed effects, and instrumental variables do not generally provide reliable solutions to simultaneity bias.