ERN: Empirical Studies of Firms & Industries in Transitional Economies (Topic)最新文献

Corruption and Innovation in Manufacturing Firms: A Cross-country Analysis 制造业企业的腐败与创新:一个跨国分析

ERN: Empirical Studies of Firms & Industries in Transitional Economies (Topic) Pub Date : 2021-01-10 DOI: 10.2139/ssrn.3851478

Trung Nguyen

引用次数: 1

What Determines Leverage in Selected Countries of Central and Eastern Europe in the Automotive Industry 是什么决定了中欧和东欧选定国家汽车行业的杠杆率

ERN: Empirical Studies of Firms & Industries in Transitional Economies (Topic) Pub Date : 2020-10-20 DOI: 10.20474/jabs-6.5.5

Petra Růčkova, Nicole Škuláňová

{"title":"What Determines Leverage in Selected Countries of Central and Eastern Europe in the Automotive Industry","authors":"Petra Růčkova, Nicole Škuláňová","doi":"10.20474/jabs-6.5.5","DOIUrl":"https://doi.org/10.20474/jabs-6.5.5","url":null,"abstract":"The subject of this article is to analyse the financial structure of companies belonging to the second and third sector. The issue of sources of funding is one of the fundamental decisions of financial managers and has been a much-debated topic in the last century. A number of studies have been written throughout this period, but there is still no consensus, and there is still a need to expand this area with new knowledge for other countries and sectors. The analysis covers medium and large companies engaged in automotive industry and is located in eleven selected countries including the Visegrád Group, Austria, Bulgaria, Romania, Slovenia, Germany, Italy and France. The period under review is between 2010 and 2018. The input data come from the Orbis and World Bank database. The research deals with the impact of profitability, liquidity, asset structure, non-debt tax shield, GDP, inflation and basic interest rate on the total, long-term and short-term debt of companies. Panel regression using the GMM method is used to determine the impact of individual factors on debt levels. The main conclusion of the research is that companies in both sectors are mainly affected by the determinants of the external environment, most of all by changes in interest rates. This research builds on existing knowledge and seeks to disseminate it by focusing on specific sectors. From a practical point of view, the results of the research could help companies from the researched sector to optimize their sources of financing with regard to the influence of external determinants, which proved to be more significant.","PeriodicalId":159491,"journal":{"name":"ERN: Empirical Studies of Firms & Industries in Transitional Economies (Topic)","volume":"93 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130451704","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Supplier Search and Rematching in Global Sourcing - Theory and Evidence from China 全球采购中的供应商搜索与再匹配——来自中国的理论与证据

ERN: Empirical Studies of Firms & Industries in Transitional Economies (Topic) Pub Date : 2017-11-01 DOI: 10.7551/mitpress/11402.003.0014

Fabrice Defever, C. Fischer, Jens Suedekum

引用次数: 20

Countering Overseas Power in Global Value Chains: Information Asymmetries and Subcontracting in the Plastics Industry 在全球价值链中对抗海外力量:塑料工业的信息不对称和分包

ERN: Empirical Studies of Firms & Industries in Transitional Economies (Topic) Pub Date : 2017-09-01 DOI: 10.2139/ssrn.3239483

Michael Murphree, John Anderson

{"title":"Countering Overseas Power in Global Value Chains: Information Asymmetries and Subcontracting in the Plastics Industry","authors":"Michael Murphree, John Anderson","doi":"10.2139/ssrn.3239483","DOIUrl":"https://doi.org/10.2139/ssrn.3239483","url":null,"abstract":"Abstract Resource Dependency Theory (RDT) and Global Value Chain (GVC) analysis have been deployed in the strategic and international management literatures to address questions of power in dyadic relationships and global production networks, respectively. This paper integrates the two theoretical approaches in order to expand RDT, using insights from Hirschman's exit/voice model to show the options available to some firms but not others. Using the relationship between buyers and contract manufacturers from GVC analysis, we find a correlation between firm size and choice of strategic action in response to contract manufacturers' dependence on buyers. Large firms follow an acquiescence strategy while small manufacturers follow an avoidance strategy, able to use both exit and voice strategies. Enabled by scale or control over information, both of these approaches successfully reduce uncertainty and provide a source of sustained competitive advantage. Using a study of the production chain in consumer plastics manufacturing in China, we show how dependent firms respond to GVC induced pressure. We find that based on the size of the contract manufacturer, the range of strategic responses to power is constrained by the nature of the dependency in global value chains. This opens important insights into the role that structural characteristics of organizations (like size) play in determining strategic freedom.","PeriodicalId":159491,"journal":{"name":"ERN: Empirical Studies of Firms & Industries in Transitional Economies (Topic)","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125872405","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 22

Foreign Direct Investment and the Development of the Automotive Industry in Eastern and Southern Europe 外国直接投资与东欧和南欧汽车工业的发展

ERN: Empirical Studies of Firms & Industries in Transitional Economies (Topic) Pub Date : 2017-08-08 DOI: 10.2139/ssrn.3015163

P. Pavlínek, Ricardo Aláez-Aller, Carlos Gil-Canaleta, Miren Ullibarri‐Arce

引用次数: 11

Modi's 'Make in India' Industrial Reform Policy and East Asian Flying-Geese Paradigm 莫迪的“印度制造”产业改革政策和东亚大雁模式

ERN: Empirical Studies of Firms & Industries in Transitional Economies (Topic) Pub Date : 2017-04-10 DOI: 10.2139/ssrn.2965974

C. Nam, Sumi Nam, P. Steinhoff

引用次数: 2

Comparative Advantage of Thailand's Jewelry Market to ASEAN Jewelry Sector 泰国珠宝市场对东盟珠宝行业的比较优势

ERN: Empirical Studies of Firms & Industries in Transitional Economies (Topic) Pub Date : 2017-02-13 DOI: 10.2139/ssrn.2916133

Evgeniya Podkuykina, Ando Randriamarohaja

引用次数: 0

The Future of Transnational Self-Regulation ― Enforcement and Compliance in Professional Services 跨国自我监管的未来-专业服务的执行和合规

ERN: Empirical Studies of Firms & Industries in Transitional Economies (Topic) Pub Date : 2017-01-17 DOI: 10.2139/SSRN.2954143

Panos Delimatsis

{"title":"The Future of Transnational Self-Regulation ― Enforcement and Compliance in Professional Services","authors":"Panos Delimatsis","doi":"10.2139/SSRN.2954143","DOIUrl":"https://doi.org/10.2139/SSRN.2954143","url":null,"abstract":"The increased expansion of economic activity beyond national borders leads to a shift of regulatory power. Public authorities concede power, explicitly or tacitly, to private bodies, whereas the multilayered ecology of global governance inevitably increases the role of transnational institutional structures. This article examines such developments in the area of professional services. It starts by analyzing the self-regulation phenomenon in professional services and points to examples where professional associations accentuate their unique nature to justify the importance of nonintervention in their internal affairs. Powerful professional associations have been thereby created, which, depending on the services subsector (e.g. legal, engineering or advertising services), are the final masters of access to and practice of a given profession. After a critical review of the most important professional associations at the global level, the article focuses on instances of private enforcement and goes on to examine the role of courts in reviewing such enforcement. In this regard, constitutionality of private enforcement is also examined. Finally, the article refers to the role of antitrust rules in harnessing distortive business practices that professional associations may adopt. The article focuses in particular on instances of private, decentralized enforcement. Whereas no truly transnational private regulation in professional services has yet emerged, it is submitted that the foundations for such a development are being built progressively as a result of borderless activities in this sector and a relatively deferential stance on the side of the State.","PeriodicalId":159491,"journal":{"name":"ERN: Empirical Studies of Firms & Industries in Transitional Economies (Topic)","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-01-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131109618","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 4

Debt Recovery in Firm Liquidations: Do Liquidation Trustees Matter? 企业清算中的债务追讨:清算受托人重要吗?

ERN: Empirical Studies of Firms & Industries in Transitional Economies (Topic) Pub Date : 2016-07-31 DOI: 10.2139/ssrn.2812691

Jaka Cepec, Peter Grajzl, K. Zajc

引用次数: 1

公司資本結構與其上游廠商特性之關係 (Capital Structure and the Characteristics of Suppliers) 公司资本结构与其上游厂商特性之关系 (Capital Structure and the Characteristics of Suppliers)

ERN: Empirical Studies of Firms & Industries in Transitional Economies (Topic) Pub Date : 2016-07-29 DOI: 10.2139/ssrn.2815785

Yu-ting Luo, Xiu-hui Zeng, T. Lin, Ru-shan Yeh, Shuming Liang

{"title":"公司資本結構與其上游廠商特性之關係 (Capital Structure and the Characteristics of Suppliers)","authors":"Yu-ting Luo, Xiu-hui Zeng, T. Lin, Ru-shan Yeh, Shuming Liang","doi":"10.2139/ssrn.2815785","DOIUrl":"https://doi.org/10.2139/ssrn.2815785","url":null,"abstract":"<b>Chinese Abstract: </b>本研究探討公司的資本結構與其上游公司特性的關係，以臺灣上市製造業公司為研究樣本，研究期間為2009年至2010年。實證結果發現，上游廠商的研發費用越多以及給員工的薪酬越多，代表專屬投資程度越大，公司負債水準就越低；上游廠商集中度越高，公司就必須提高負債比率以增加議價能力。因此，資本結構不只取決於公司本身特性、與同業競爭狀況，甚至和上游廠商的特性有關係。 <b>English Abstract: </b>This paper investigates the interactions between the characteristics of suppliers and firms’ capital structure. Using Taiwanese industrial firms as a sample, we provide evidence that there is negative relationship between firms’ debt ratio and the relation-specific investment of their suppliers. We also find that the debt ratio increases with the concentration of the supplier industry. These findings suggest that capital structure depends not only on the characteristics of the firm itself, but on the characteristics of its stakeholders like suppliers.","PeriodicalId":159491,"journal":{"name":"ERN: Empirical Studies of Firms & Industries in Transitional Economies (Topic)","volume":"82 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134006304","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0