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Journal of Productivity Analysis - The past two decades has seen new methodological debates on the identification of production function. Olley and Pakes (J Polit Econ 101(6):1149–1164,... 相似文献
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Heesun Jang 《Applied economics》2019,51(14):1463-1477
We estimate production technologies of major dairy producing regions in the U.S. The simultaneity and sample selection biases are carefully corrected following the recent development in the literature. The commonly applied control function approaches are found to be misleading in correcting for biases of coefficient estimates on flexible and quasi-fixed input variables. We show that the emerging dairy regions have relatively higher aggregate productivity than traditional regions. Dynamic decomposition results indicate that surviving farms play a more important role in regional productivity growth than entering and exiting farms. Farm- and regional-level driving forces of farm productivity are also examined. 相似文献
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We investigate the effect of debt financing on the voluntary adoption of the International Financial Reporting Standards (IFRS) by unlisted firms and such adoption’s effect on bond credit rating. We find that unlisted firms with public debts are more likely to voluntarily adopt IFRS. Subsequent to the voluntary application of IFRS, the unlisted firms exhibit, on average, enhanced credit ratings. These findings suggest that the public debt market’s demand for high-quality financial reporting may drive those unlisted firms to voluntarily adopt IFRS. Furthermore, rating agencies seem to reward such firms by elevating their bond credit ratings. 相似文献
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Voluntary Adoption of the IFRS and Industry-Level Comparability: Evidence from Korean Unlisted Firms
Heesun Chung 《新兴市场金融与贸易》2017,53(7):1654-1666
This study examines the role of industry-level comparability with regard to voluntary adoption of the international financial reporting standards (IFRS) by unlisted firms in Korea. Mandatory adoption of the IFRS for listed firms in 2011 inhibits financial statement comparability between listed and unlisted firms. Our empirical findings reveal that unlisted firms in industries with higher ratios of listed firms tend to adopt the IFRS voluntarily. After this adoption, such unlisted firms seem to attract greater investment in the public debt market. 相似文献
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