Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal最新文献_第10页

Exports, Productivity and Factor Intensity: Evidence for Brazilian Firms 出口、生产率和要素强度:巴西企业的证据

Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal Pub Date : 2019-03-18 DOI: 10.2139/ssrn.3374369

Dieison Lenon Casagrande, Álvaro Barrantes Hidalgo, Paulo Ricardo Feistel

{"title":"Exports, Productivity and Factor Intensity: Evidence for Brazilian Firms","authors":"Dieison Lenon Casagrande, Álvaro Barrantes Hidalgo, Paulo Ricardo Feistel","doi":"10.2139/ssrn.3374369","DOIUrl":"https://doi.org/10.2139/ssrn.3374369","url":null,"abstract":"Based on the theory of heterogeneous firms, participation in the international market leads to changes in performance and efficiency gains at the firm level. This article uses microdata at the level of firms of the Brazilian manufacturing industry (2007-2014) to investigate the impacts of exporting on the productivity trajectory and intensity of factors. The empirical strategy, via Differences in Differences, explores the fact that firms enter at different moments into the external market, generating a variation in the period and in the intensity of the permanence. The results evidence learning effects and the use of comparative advantages so that firms that start exporting have an immediate productivity growth of around 5% and an instantaneous decrease in capital intensity (2.3%) in relation to the pre-entry period compared to non-exporting firms in the comparison group. The permanence on the activity intensifies the effects, so that, after four periods, the growth (reduction) in productivity (intensity of capital) is, approximately, 12% (15%). Among the sources of heterogeneities investigated, the magnitude of effects varies in dimensions such as size, technological intensity and pre-entry levels of productivity and capital intensity.","PeriodicalId":236490,"journal":{"name":"Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125063743","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

Анализ правовой регламентации и практики осуществления бюджетной поддержки коммерческих организаций (Analysis of Legal Regulation and Practice of Implementing Budget Support for Commercial Organizations)

Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal Pub Date : 2019-03-14 DOI: 10.2139/ssrn.3352672

Anna Zolotareva

引用次数: 0

Working Capital Management and Financial Performance: Further Evidence From Quoted Consumer Goods Firms in Nigeria 营运资金管理与财务绩效:来自尼日利亚消费品上市公司的进一步证据

Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal Pub Date : 2019-03-01 DOI: 10.2139/ssrn.3320630

Muideen Adeseye Awodiran

{"title":"Working Capital Management and Financial Performance: Further Evidence From Quoted Consumer Goods Firms in Nigeria","authors":"Muideen Adeseye Awodiran","doi":"10.2139/ssrn.3320630","DOIUrl":"https://doi.org/10.2139/ssrn.3320630","url":null,"abstract":"Effective management of working capital that ensures a balance between profitability and liquidity is a fundamental part of overall corporate strategy to create value, and it is an important source of gaining competitive advantage. This study examined the effect of working capital management on financial performance of quoted consumer goods firms in Nigeria. The study used cross sectional research design and data was sourced from the sampled 16 quoted consumer goods companies on the Nigerian Stock Exchange, for the period 2005-2014. Both descriptive and inferential statistical methods were used in analysing the data gathered. Hausman test was also conducted to make a choice between random and fixed effect models of panel least square regression. The result showed that average payment period and average receivable period respectively have significant positive and negative effect on financial performance. The study recommends that businesses should always bargain for suppliers’ credit periods that are lengthier than those given to their customers to facilitate better financial performance.","PeriodicalId":236490,"journal":{"name":"Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal","volume":"75 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126864703","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

Environmental Factors: A Panacea for Survival and Growth of Small and Medium Scale Businesses in Nigeria. 环境因素:尼日利亚中小企业生存和发展的灵丹妙药。

Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal Pub Date : 2019-03-01 DOI: 10.2139/ssrn.3432188

U. Muogbo, Enemuo-Uzoezie Chuka

{"title":"Environmental Factors: A Panacea for Survival and Growth of Small and Medium Scale Businesses in Nigeria.","authors":"U. Muogbo, Enemuo-Uzoezie Chuka","doi":"10.2139/ssrn.3432188","DOIUrl":"https://doi.org/10.2139/ssrn.3432188","url":null,"abstract":"This study examined impact of the environmental factors on the performance of small and medium scale businesses (SMEs) in Nigeria with special emphasis on three selected Construction Company (PaChuks, Setraco and Triple C Manufacturing Company) all situated at Awka metropolis of Anambra State. The study aimed to find out the extent to which environmental factors affect organizational growth, the relationship between various Federal Government macroeconomic policy variables and performance of SMEs and how they can be effectively managed. The underlying SME theory in this study is Network Approach model. The study adopted the descriptive survey research design, making use of one hundred respondents randomly selected from the three selected SMEs. However, a sample size of eighty respondents was determined using the Taro Yamane formula. The Questionnaire was used as primary source of data collection for this research work. The findings of this study reveal that SMEs are faced with several challenges which are; difficulty in obtaining capital, inadequate competent personnel, shortage of raw materials etc. the researcher recommends that Government strengthens SMIEIS, BOI and other financing windows, lower interest rates and other cost of funds, expand Industrial Development Centres and enhance sources of finance available to the industries.","PeriodicalId":236490,"journal":{"name":"Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116764175","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: 1

The Firm Size and Leverage Relationship and its Implications for Entry and Concentration in a Low Interest Rate World 低利率环境下企业规模与杠杆关系及其对进入和集中的影响

Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal Pub Date : 2019-03-01 DOI: 10.21799/frbp.wp.2019.18

Satyajit Chatterjee, Burcu Eyigungor

引用次数: 6

Interlocking Directorate and Firm Performance of Listed Companies in Sri Lanka 斯里兰卡上市公司连锁董事与公司绩效

Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal Pub Date : 2019-01-30 DOI: 10.5958/2249-7323.2019.00003.8

Farwis Mahrool, N. Abdul

{"title":"Interlocking Directorate and Firm Performance of Listed Companies in Sri Lanka","authors":"Farwis Mahrool, N. Abdul","doi":"10.5958/2249-7323.2019.00003.8","DOIUrl":"https://doi.org/10.5958/2249-7323.2019.00003.8","url":null,"abstract":"Purpose: The purpose of this paper is to investigate the relationship between director interlock and firm performance in Sri Lanka. The author posits that directors gain experiences due to director interlocking which enables them to contribute to the firm performance. On the other hand, busyness of directors due to director interlock destructs the firm performance along with board characteristics. Design/Methodology/Approach: Secondary data were obtained from published audited annual reports of 156 companies listed in Colombo Stock Exchange for the period of 2010 to 2017. Ordinary Least squares regression model was used to examine the relationship between director interlocking and firm performance. Findings: Empirically, it was found that there is a significant negative association between directors interlocking and firm performance. Further, it was found that, Board size, CEO duality and NED significantly negatively associate with firm performance. The result evidences that NED mere participation on corporate boards within the company would not enhance firm performance. Originality/Value: Prior several studies in this nature were performed with develop country data set where this study was emerging market perspective. It may the initial study in Sri Lankan perspective and it could be a tools for evaluate the firm performance.","PeriodicalId":236490,"journal":{"name":"Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal","volume":"49 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115679026","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: 3

Foreign Institutional Ownership and Liquidity: Evidence from Thailand 外资机构持股与流动性:来自泰国的证据

Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal Pub Date : 2019-01-24 DOI: 10.2139/ssrn.3321620

Yordying Thanatawee

引用次数: 7

Governance of Tunnelling in Developing Countries: Evidence from Bangladesh 发展中国家的隧道治理:来自孟加拉国的证据

Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal Pub Date : 2019-01-20 DOI: 10.1111/ACFI.12693

M. Tareq, Muhammad Nurul Houqe, Tony Zijl

引用次数: 2

Study of Financial Performance and its Determinants: Empirical Evidence from Listed Indian 2/3 Wheeler Manufacturer Firms 财务绩效及其影响因素研究:来自印度上市2/3惠勒制造企业的经验证据

Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal Pub Date : 2019-01-05 DOI: 10.2139/ssrn.3308728

CMA Dr. Rekha Melwani, M. Sitlani

{"title":"Study of Financial Performance and its Determinants: Empirical Evidence from Listed Indian 2/3 Wheeler Manufacturer Firms","authors":"CMA Dr. Rekha Melwani, M. Sitlani","doi":"10.2139/ssrn.3308728","DOIUrl":"https://doi.org/10.2139/ssrn.3308728","url":null,"abstract":"The present study is based on the study of financial performance and impact of internal financial determinants on financial performance of listed 2/3 wheeler manufacturer firms in India. The study adopted Causal research design which involves the investigation of cause –and- effect relationships. The study is based on secondary data and data has collected from Annual reports of the considered 2/3 wheelers manufactures firms listed at BSE, India. The financial performance of the firms has been measured by Return on Assets (ROA). The identified internal financial determinants were Export Intensity (EXIN), Growth (GRT), Capital Structure (CS), Profitability Ratio (PR), Research and Development Intensity (RDI), Liquidity (LIQ), Non-Debt Tax Shield (NDTS), Interest Coverage Ratio(ICR), Tax (TAX), Operating Efficiency (Dividend Pay Out (DPOT), Capital Intensity (CIN), Tangibility(TANG), Leverage (LEV), Size (SIZE), Working Capital Ratio (WCR) and Operating Profit Ratio (OPR). The results indicated that financial performance was affected by selected internal financial determinants and these internal financial determinants have varying impacts on financial performance.","PeriodicalId":236490,"journal":{"name":"Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal","volume":"124 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128086832","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: 1

The Search for Yield and the Size Premium in Emerging Market Corporate Debt 新兴市场公司债的收益率与规模溢价研究

Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal Pub Date : 2018-12-15 DOI: 10.2139/ssrn.3303628

Charles W. Calomiris, Mauricio Larrain, S. Schmukler, T. Williams

{"title":"The Search for Yield and the Size Premium in Emerging Market Corporate Debt","authors":"Charles W. Calomiris, Mauricio Larrain, S. Schmukler, T. Williams","doi":"10.2139/ssrn.3303628","DOIUrl":"https://doi.org/10.2139/ssrn.3303628","url":null,"abstract":"Emerging market corporations have significantly increased their borrowing in international markets after the global financial crisis. We show that this expansion was led by large-denomination bond issuances (bonds with face values exceeding US$300 million, and often exceeding US$500 million). The drastic shift in the pattern of bond issuances reflects increased investor willingness to purchase emerging market corporate bonds so long as they are included in international bond indexes, which require face values of at least US$300 and US$500 million. Inclusion in the index gives investors the advantage of holding more liquid bonds, which also makes them more similar to those issued by U.S. corporates and emerging market sovereigns. Additionally, those bonds allow investors to target performance closer to the market benchmark. After 2008, emerging market firms started facing a new trade-off. They could borrow at a lower cost (a full percentage point lower) by issuing index-eligible bonds, which often imply raising more financing than needed. Or, they could borrow smaller quantities at a higher cost, while avoiding accumulating substantial cash assets. Because the liquidity premium for large-denomination bonds is sizable, many companies have issued them. As a result, larger firms have become more likely to issue them and some smaller firms have issued large bonds for the first time, which has entailed large increases in their post-issuance cash holdings. The overall changes after 2008 in emerging market corporate issuance are not apparent in advanced economies.","PeriodicalId":236490,"journal":{"name":"Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal","volume":"30 2 Suppl 3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123438204","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: 3