Journal articles: 'Growing firms'

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Močnik, Dijana, and Karin Širec. "Determinants Of A Fast-Growing Firm’s Profits: Empirical Evidence For Slovenia." Annals of the Alexandru Ioan Cuza University - Economics 62, no. 1 (April 1, 2015): 37–54. http://dx.doi.org/10.1515/aicue-2015-0003.

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Abstract This paper seeks to explain the relationship between a firm’s profitability and firm size, leverage ratio and labour costs – using a sample of 782 Slovenian fast-growing firms from the years 2008 and 2009. We determined that profitability is negatively related to the firm size and leverage ratio, but positively to the labour costs. These results illustrate that, with increasing firm size, a fast-growing firm becomes less profitable. The negative coefficient for the leverage ratio indicates that the higher the extent to which debts were used as the source of financing, the lower the profits. One explanation for this is that profitable, fast-growing firms rely on their equity capital. Alternatively, higher-leveraged firms bear greater risks of bankruptcy; consequently, creditors are reluctant to approve credit for such clients. The positive association between labour costs and profitability implies that the higher the labour cost, the higher the profitability of fast-growing firms.

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Thongpapanl, Narongsak, Eugene Kaciak, and Dianne H. B. Welsh. "Growing and aging of entrepreneurial firms." International Journal of Entrepreneurial Behavior & Research 24, no. 6 (October 1, 2018): 1087–103. http://dx.doi.org/10.1108/ijebr-03-2018-0135.

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Purpose The purpose of this paper is to explore whether job rotation strategies and joint reward systems are equally effective in encouraging cross-functional collaboration (CFC) under all organizational contexts, ranging from young and small firms to mature and large ones. Design/methodology/approach To ensure a wide applicability of findings in this study, the research model and hypotheses were tested with a sample of 232 Canadian firms active in a variety of industrial sectors. A survey instrument that comprised all the questionnaire items corresponding to the examined constructs is the foundation of the data used in this contribution. Findings This study shows that job rotation and joint rewards are strong and positive drivers of interdepartmental collaboration, which subsequently enhance firm performance. However, this illustration must be considered in the context of the firm shaped by its size and age because these two variables strongly and negatively moderate the relationships between CFC and its two antecedents. Research limitations/implications The study was limited to Canadian firms only. The manufacturing sector was not differentiated into subsectors, such as technology. Future studies could compare subsectors of manufacturing to see if there is any correlation between types of industries, age, and size. Originality/value Not all firms will be able to take advantage of the widely accepted values of job rotation and joint reward systems in generating CFC. Firms, to an extent, appear to be confronted with the liability of aging but not with the liability of smallness.

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Wadho, Waqar, and Azam Chaudhry. "Identifying and Understanding High Growth Firms in the Pakistani Textile and Apparel Sectors." LAHORE JOURNAL OF ECONOMICS 24, no. 2 (July 1, 2019): 73–92. http://dx.doi.org/10.35536/lje.2019.v24.i2.a4.

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In this article, we investigate the distinguishing features of fast growing firms in the Pakistani textile and apparel sectors. We find that the distribution of firm growth- both in terms of employment and sales - is very heavily skewed toward the right-tail, confirming earlier findings that firm growth is generated by a very small number of firms. We found that small and young companies grow faster and generate higher employment. We also used various indicators of a firm’s innovation behavior and found that more innovative firms grow faster. Our results suggest that it is not the possession of individual attributes, but rather a combination of particular firm attributes that defines fast growing firms. Specifically, we found that the blend of being small, young and innovative explains the fast growth in firms. on overall these companies also create more jobs.

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Song, Zheng, Kjetil Storesletten, and Fabrizio Zilibotti. "Growing Like China." American Economic Review 101, no. 1 (February 1, 2011): 196–233. http://dx.doi.org/10.1257/aer.101.1.196.

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We construct a growth model consistent with China's economic transition: high output growth, sustained returns on capital, reallocation within the manufacturing sector, and a large trade surplus. Entrepreneurial firms use more productive technologies, but due to financial imperfections they must finance investments through internal savings. State-owned firms have low productivity but survive because of better access to credit markets. High-productivity firms outgrow low-productivity firms if entrepreneurs have sufficiently high savings. The downsizing of financially integrated firms forces domestic savings to be invested abroad, generating a foreign surplus. A calibrated version of the theory accounts quantitatively for China's economic transition. (JEL E21, E22, E23, F43, L60, O16, O53, P23, P24, P31).

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Tajnikar, Maks, Nina Ponikvar, and Petra Dosenovic-Bonca. "Characteristics of firms with different types of growth: The case of Slovenia." Ekonomski anali 61, no. 208 (2016): 27–47. http://dx.doi.org/10.2298/eka1608027t.

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The authors of this paper develop a new typology of growing and fast-growing firms, based on consistent application of the microeconomic theory of the firm, and thereby addressing some limitations of existing studies that investigate growing and fast-growing firms. A rich database available for the entire population of business entities in Slovenia enables the authors to use the proposed typology and investigate key demographic and other characteristics of firms with different types of growth in the 2007-12 period. The authors conclude that the case of Slovenia and the analysis of firm characteristics confirm the adequacy of the proposed typology.

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Hernández Linares, Remedios, and María Concepción López Fernandez. "Entrepreneurial orientation, learning orientation, market orientation, and organizational performance: Family firms versus non-family firms." European Journal of Family Business 10, no. 1 (May 31, 2020): 6–19. http://dx.doi.org/10.24310/ejfbejfb.v10i1.6780.

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Firms develop and use multiple strategic orientations. However, the investigations considering more than one strategic orientation are scant and have paid scant attention to the singular context of family firms, despite the growing evidence of their special strategic behavior. To cover these research gaps, we analyze the combined effects of three strategic orientations (mainly, entrepreneurial orientation, learning orientation, and market orientation) on family firm’s performance, by comparing family firms and non-family firms from Spain and Portugal. Our results show that the entrepreneurial orientation is the strategic orientation with higher impact on family firm performance, followed by market orientation, so, our work offers family firms some insights to an improved performance. In addition our work contributes to literature by corroborating the idea of strategic equifinality.

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Yeo, Yeongjun, and Chansoo Park. "Managing Growing Pains for the Sustainable Growth of Organizations: Evidence from the Growth Pathways and Strategic Choices of Korean Firms." Sustainability 10, no. 10 (October 22, 2018): 3824. http://dx.doi.org/10.3390/su10103824.

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Life-cycle literature suggests that business organizations evolve in consistent and predictable manners, implying that organizational structures and strategies evolve as firms move through growth stages. The sustainable growth of firms involves successful transitions between growth stages through managing different types of organizational growing pains and maintaining sustainable competitive positions, suggesting shifts in the strategic orientation of the firms as the firms grow. Based on this approach, this study proposes a holistic framework to account for linkages between determinants of a firm’s growing pains and key areas of organizational development, based on a synthesis of qualitative and quantitative findings. From statistical analyses, Korean firms are found to have proceeded through distinct stages of growing pains as they reached organizational sizes as follows: 20, 100, 300, and 500 million USD in sales revenue. Furthermore, qualitative findings suggest that business strategies evolve to deal with different types of growing pains in life-cycle stages from the systemization of management system to the revitalization process. Our results expect to provide extensive knowledge on the role of strategic management to deal with firm’s growing pains, considering both internal and external factors governing organizations. Furthermore, this study expects to provide an insightful and practical framework for managing organizational growing pains and transitions required to build sustainably successful organizations.

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Smith, Anne, and Bryan Temple. "Growing and Developing Old Economy Firms." Journal of International Business and Economy 8, no. 1 (July 1, 2007): 143–60. http://dx.doi.org/10.51240/jibe.2007.1.10.

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This paper paints a textual picture of two old economy firms in Scotland over a five-year period. It offers a longitudinal qualitative analysis into the processes and functions of the firms. The study draws on business development and knowledge transfer literature to provide research frameworks and underpin the analysis. The fundamental aim of the study was to understand how these businesses operate. The results give a narrow but essentially deep insight into important current issues affecting the development of such firms. Small and medium-sized, “old economy” firms, mainly family-owned, represent the vast majority of business organizations in the UK and are particularly vulnerable to economic events, political decisions, policy change and natural disasters. Their ability to adapt and transform will hold the key to economic growth and competitiveness. This paper shows clearly the challenges facing the small or medium-sized “old economy” firms, which are restructuring for growth and development in the 21st Century.

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Razak, Nazrul Hisyam Ab, and Salmi Huwaina Palahuddin. "Director remuneration, family ownership and firm performance: An analysis from Malaysian listed firm for period of 2005 till 2013." Corporate Ownership and Control 14, no. 2 (2017): 98–113. http://dx.doi.org/10.22495/cocv14i2art10.

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This study examines the association between directors’ remuneration, corporate governance structures and firm performance of 140 Malaysian listed firms which 70 firms are family firm and 70 firms are non-family. Data has been collected through annual reports in Bursa Malaysia’s database from 2005 till 2013. The results show that firm performance is positively and significantly related to directors’ remuneration, firm’s growth and size measured by ROA, ROE and Tobin’s Q. However, firms’ performance in this study is not responsive to anticipated future market valuations in Stock returns. The study also finds that family ownership leads to lower performance than non-family owned firms on accounting measurement (ROA and ROE) and market measurement (Tobin’s Q ) after controlling company specific characteristics. The findings also reveal that role duality has no significant effect on accounting and market performance. Meanwhile the study explores that firm performance is negatively and significantly related to leverage. The findings can be useful to regulators to limit director’s influence over remuneration packages especially in family firm. The study also contributes to the growing literature on executive and directors’ remuneration and it provides international evidence on the effects of corporate governance reforms in recent years in influencing boardroom remuneration and ownership structure on a firm’s efficiency and performance.

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Sen, Pradyot K. "Reported Earnings Quality Under Conservative Accounting and Auditing." Journal of Accounting, Auditing & Finance 20, no. 3 (July 2005): 229–56. http://dx.doi.org/10.1177/0148558x0502000303.

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While conservatism may lead to a reduction of the current period's income, a consistent use of conservative accounting builds a hidden reserve that can inflate future earnings when investment growth slows down. For the same reason, reported earnings may be of a lower quality in terms of predictability of future cash flow when investments are growing. Managers of a growing firm, therefore, must choose to report a conservative but lower quality number or to undo the effects of conservatism by less conservative current-period cost estimates to improve the quality of reported earnings. Such departure from conservatism in the current period may lead to a conflict with the auditor, which may affect firm value as well as the manager's own wealth. Managers of a steady-state investment firm, on the other hand, have an opportunity either to report conservative and high quality earnings or to slow down its investments and/or choose less conservative current period cost estimates to report higher earnings in order to effectively mimic the (high quality) report of the growing firm. In this environment, an increase in auditor's conservatism may improve the informational efficiency of the market by reducing the incentives of the nongrowing firms to mimic a growing firm's disclosure. An increase in incentives that are based on firm value tends to increase a growing firm manager's propensity to report higher quality earnings while increasing the nongrowing firm's manager's propensity to cut back investment. Thus, we are faced with a situation where improving incentives for reporting higher quality earnings may be associated with an incentive to reduce investments by some firms.

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DOŠENOVIĆ BONČA, Petra, Maks TAJNIKAR, Nina PONIKVAR, and Barbara MÖREC. "FIRM GROWTH TYPES AND KEY MACROECONOMIC AGGREGATES THROUGH THE ECONOMIC CYCLE." Journal of Business Economics and Management 19, no. 1 (May 3, 2018): 138–53. http://dx.doi.org/10.3846/16111699.2017.1422798.

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The paper investigates the role and impact of different groups of firms according to their growth type on macroeconomic aggregates at various stages of the economic cycle based on the entire population of firms in Slovenia. The applied classification of growing and fast-growing firms is based on microeconomic theory. Results exhibit that despite larger year-to-year fluctuations, firms with growth towards their long-term equilibrium contributed most to macroeconomic aggregates, i.e. employment, capital and sales, especially in times of economic prosperity. Firms with growth that shifts them closer to their short-term equilibrium proved to be more important primarily for assuring employment stability. Furthermore, we show that using single growth measures prevents us from identifying all growing firms and capturing the true contribution of particular growth groups of firms to studied macroeconomic aggregates. The paper provides both theoretical and empirical information for managers for designing different types of firm growth and enables policy makers to adopt adequate industrial policy measures.

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Barry, Bruce, and J. Michael Crant. "LABOR FORCE EXTERNALIZATION IN GROWING FIRMS." International Journal of Organizational Analysis 2, no. 4 (April 1994): 361–83. http://dx.doi.org/10.1108/eb028816.

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Binks, Martin R., and Christine T. Ennew. "Growing firms and the credit constraint." Small Business Economics 8, no. 1 (February 1996): 17–25. http://dx.doi.org/10.1007/bf00391972.

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McCarthy, Daniel M., and Peter S. Fader. "Customer-Based Corporate Valuation for Publicly Traded Noncontractual Firms." Journal of Marketing Research 55, no. 5 (October 2018): 617–35. http://dx.doi.org/10.1177/0022243718802843.

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There is growing interest in “customer-based corporate valuation”—that is, explicitly tying the value of a firm’s customer base to its overall financial valuation using publicly disclosed data. While much progress has been made in building a well-validated customer-based valuation model for contractual (or subscription-based) firms, there has been little progress for noncontractual firms. Noncontractual businesses have more complex transactional patterns because customer churn is not observed, and customer purchase timing and spend amounts are more irregular. Furthermore, publicly disclosed data are aggregated over time and across customers, are often censored, and may vary from firm to firm, making it harder to estimate models for customer acquisition, ordering, and spend per order. The authors develop a general customer-based valuation methodology for noncontractual firms that accounts for these issues. They apply this methodology to publicly disclosed data from e-commerce retailers Overstock.com and Wayfair, provide valuation point estimates and valuation intervals for the firms, and compare the unit economics of newly acquired customers.

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Chatterjee, Sheshadri, Ranjan Chaudhuri, Antonino Galati, and Demetris Vrontis. "Adoption of Ubiquitous CRM for Operational Sustainability of the Firms: Moderating Role of Technology Turbulence." Sustainability 13, no. 18 (September 16, 2021): 10358. http://dx.doi.org/10.3390/su131810358.

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Ubiquitous CRM (UCRM) enhances customer relationship management. It can sense customer needs and demands, to which firms can respond quickly. Therefore, UCRM helps to improve a firm’s agility. There is a growing interest among researchers and practitioners to understand how the adoption of UCRM impacts the sustainability of firms’ operations, but not many studies have investigated this issue. In this context, the aim of this study is to examine how firms’ absorptive capacity and dynamic capability could impact the adoption of UCRM to influence the operational sustainability of the firms and their performance. The study also investigates the moderating role of technology turbulence on the relationship between a firm’s operational sustainability and its performance. Using absorptive capacity theory and dynamic capability view theory and reviewing the existing literature, we developed a conceptual model. The model was then validated using a structural equation modeling technique considering 309 usable respondents from different firms that use UCRM for their operational activities. The study found that firms’ absorptive capacity and dynamic capability significantly and positively impact the adoption of UCRM, which in turn significantly and positively impacts firms’ operational sustainability and improves their performance. The study also shows that there is a significant moderating role of technology turbulence on the relationship between operational sustainability and firm performance.

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KHAN, MUHAMMAD KALEEM, AHMAD KALEEM, SALMAN ZULFIQAR, and UMAIR AKRAM. "INNOVATION INVESTMENT: BEHAVIOUR OF CHINESE FIRMS TOWARDS FINANCING SOURCES." International Journal of Innovation Management 23, no. 07 (August 23, 2019): 1950070. http://dx.doi.org/10.1142/s1363919619500701.

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Although the extant literature on corporate finance has largely focused on capital investments, relatively less attention has been paid to identify how research and development (R&D) related investments are financed. This study empirically tests the relationship between the different financing sources used by firms and their intensity of R&D in the rapidly growing economy of China. Furthermore, we posit that the firm’s choice to adopt the finance source for R&D will change if the firm is likely to be in financial constraints. This study finds out an empirical evidence that internally generated cash flows, bank debt, and seasonal public offerings (SPOs) stipulate a positive impact on R&D of Chinese firms, whereas the issuance of bond impacts it negatively. The study also confirms that financially constrained firms perceive the impact of financing sources on their R&D differently than non-financially constrained firms do. Results also slightly differ between high-tech and non-high-tech firms.

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Agrawal, Soni, Kishor Goswami, and Bani Chatterjee. "Factors Influencing Performance of ITES Firms in India." Information Resources Management Journal 25, no. 4 (October 2012): 46–64. http://dx.doi.org/10.4018/irmj.2012100103.

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Firms from developed countries are increasingly offshore outsourcing services to developing countries to have cost as well competitive advantages. Although this is a growing practice, there has been limited empirical attention in understanding the outsourcing phenomenon, particularly from the perspective of service provider firms that execute important business processes for their overseas clients. Despite growing trends to outsource, only a few service provider firms report success. This puts the service provider firms under increasing pressure to add value and improve quality of relationship. They have to depend not only on tangible factors but some intangible factors also play an important role in their performance. In this paper, the authors try to find out factors that influence performance of service provider firms. Multiple regressions using four indicators of firm performance are carried out to see the influence of certain factors on information technology enabled service (ITES) firms’ performance.

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SAEMUNDSSON, RÖGNVALDUR J. "TECHNICAL KNOWLEDGE-SEEKING IN A YOUNG AND GROWING TECHNOLOGY-BASED FIRM: INCENTIVES AND DIRECTION." International Journal of Innovation Management 08, no. 04 (December 2004): 399–429. http://dx.doi.org/10.1142/s136391960400112x.

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The purpose of the paper is to investigate technical knowledge-seeking activities in young and growing technology-based firms. Changes in technical knowledge-seeking activities were traced using a single illustrative case study of a young and growing technology-based firm. The results of the study show how strong commitment to the business concept of the emerging firm affected the direction of technical knowledge-seeking in a way that increases the vulnerability of the firm. New employees who were not as familiar with or committed to the original business concept brought with them different incentives for knowledge-seeking, which lead to search in new directions. These knowledge-seeking activities were important for the renewal of the firm's knowledge base. It is therefore suggested that differences in individual incentives may affect the direction of technical knowledge-seeking activities, and correspondingly, that multiple incentives are an important source of diversity in technical knowledge creation.

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Song, Changhyeon, and Kwangsoo Shin. "Business Model Design for Latecomers in Biopharmaceutical Industry: The Case of Korean Firms." Sustainability 11, no. 18 (September 6, 2019): 4881. http://dx.doi.org/10.3390/su11184881.

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Given high business risks and interdependency with various organizations in biopharmaceutical industry, business model has become a key element for firms that aim to be more sustainable and profitable. Despite its growing importance, research on the business model design in biopharmaceutical industry is limited. In particular, there is a lack of research dealing with business models or strategies for latecomers. In the face of drastic changes such as market expansion and patent expiration, there has been growing interest in latecomer’s business model in the biopharmaceutical industry. This study identifies different types of business model designs using hierarchical clustering. Based on an empirical study of 313 biopharmaceutical firms in Korea, we find three types of business models: business diversified research firm, non-diversified research firm, and mature firm. We then compare the general characteristics and performances of each cluster. The findings indicate that business diversification of biopharmaceutical firms is beneficial in terms of profit. This implies that the biopharmaceutical firms in latecomer countries such as Korea are recommended to consider business diversification for sustainable management.

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Sliwinski, Rafal, and Magdalena Sliwinska. "Growth and internationalization of fast growing firms." Journal of East European Management Studies 21, no. 2 (2016): 231–53. http://dx.doi.org/10.5771/0949-6181-2016-2-231.

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Sambrook, Sally. "Exploring succession planning in small, growing firms." Journal of Small Business and Enterprise Development 12, no. 4 (December 2005): 579–94. http://dx.doi.org/10.1108/14626000510628243.

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Barrett, Rowena, and Susan Mayson. "Human resource management in growing small firms." Journal of Small Business and Enterprise Development 14, no. 2 (May 22, 2007): 307–20. http://dx.doi.org/10.1108/14626000710746727.

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Littunen, Hannu, and Markku Virtanen. "Differentiating growing ventures from non-growth firms." International Entrepreneurship and Management Journal 2, no. 1 (March 2006): 93–109. http://dx.doi.org/10.1007/s11365-006-7091-x.

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Frankl, Jennifer L. "An Analysis of Japanese Corporate Structure, 1915–1937." Journal of Economic History 59, no. 4 (December 1999): 997–1015. http://dx.doi.org/10.1017/s0022050700024116.

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Corporate groups have been very important in the economies of many developing countries, including prewar Japan, where zaibatsu controlled approximately one-third of the capital stock. Regression analysis of a new firm-level financial data set distinguishes the economic behavior of zaibatsu member firms from independent firms. The only significant difference between old-zaibatsu member firms and independent firms is that some measures of earnings of old zaibatsu were less stable. The earnings of new-zaibatsu firms were higher, faster-growing and less variable than those of independent firms. These results cast doubt on the anecdotal literature about old zaibatsu.

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Feigin, Alexey, Andrew Ferguson, Matthew Grosse, and Tom Scott. "Evidence on why firms use different disclosure outlets." Accounting Research Journal 29, no. 3 (September 5, 2016): 274–91. http://dx.doi.org/10.1108/arj-08-2014-0066.

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Purpose The purpose of this study is to consider why firms use different disclosure outlets. The authors argue that the firm's choice of disclosure outlet can be explained by voluntary disclosure theories and investigate whether the market response around different disclosure outlets varies. Design/methodology/approach The authors investigate differences in the characteristics of firms purchasing analyst research, holding investor presentations or Open Briefings and compare market reactions around each disclosure event. Findings The authors find that firm incentives to reduce information acquisition costs or mitigate disclosure risk affect firm disclosure outlet choice, and mixed evidence in support of talent signalling motivations. There is a lower absolute abnormal return around Open Briefings and a higher signed abnormal return around purchased analyst research. Research limitations/implications The research is exploratory in nature and only considers a small subset of disclosure outlets. There may be differences in information content across disclosure outlets. Originality/value They show disclosure outlets are not homogenous and provide empirical evidence voluntary disclosure theories help explain differences between firms’ use of disclosure outlets. Considering the growing number of disclosure outlets available, disclosure outlet choice is likely to be an increasingly important topic in accounting research.

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Ali Shah, Syed Sikander, Ali Murad Syed, and Sana Sheikh. "Debt Maturity Structure, Firm Value and Underinvestment Incentive - The Case of Pakistan." Lahore Journal of Business 6, no. 2 (March 1, 2018): 1–26. http://dx.doi.org/10.35536/ljb.208.v6.i2.a1.

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This study examines the potential interaction of a firm’s financing and investment decisions. It studies broadly how firms manage underinvestment and liquidity risks. To estimate the effects of these decisions, the study has incorporated four simultaneous equations using the partial dynamic adjustment model. Panel data of non-financial Pakistani firms have been used in this study. The findings of this study demonstrate that Pakistani high growth firms depend on high-leverage strategies and give greater importance to underinvestment risk rather than liquidity risk. Furthermore, growing Pakistani firms are not adopting low-leverage strategies ex ante to participate in future growth opportunities ex post. This study also examines whether or not Pakistani firms are paying special attention to the mixing of debt maturity that affects the firm’s investment decisions and its value.

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Chen, Xiaofei, Enru Wang, Changhong Miao, Lili Ji, and Shaoqi Pan. "Industrial Clusters as Drivers of Sustainable Regional Economic Development? An Analysis of an Automotive Cluster from the Perspective of Firms’ Role." Sustainability 12, no. 7 (April 3, 2020): 2848. http://dx.doi.org/10.3390/su12072848.

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This paper examined the relationships among firms in a rapidly growing specialized industrial cluster—the Chery automotive cluster located in the Wuhu Economic and Technology Development in eastern China. After demonstrating how the Chery automotive cluster contributed to sustainable regional economic development, it focused on defining the roles that major firms play in the localized production network. Based on three attributes of the firm (network linkages, network position, and network power), the study identified a typology of firms’ role, including the dominant core, lead firms, gatekeepers, intermediaries, club of foreigners, peripherals, and loners. By revealing the heterogeneity of the firms and discussing the differing roles they play in the network, the paper made some policy recommendations to promote the sustainable development of the cluster, including providing policy supports to core firms, encouraging inter-firm networking and interaction, and diversifying the cohort of gatekeepers.

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Ben Rejeb Attia, Mouna. "Firm borrowing capacity, government ownership and real earnings management." International Journal of Public Sector Management 33, no. 2/3 (August 30, 2019): 339–62. http://dx.doi.org/10.1108/ijpsm-01-2019-0029.

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Purpose The purpose of this paper is to examine borrowing capacity (BC) of government-owned firms and whether real earnings management (REM) activities moderate the sensitivity of firm BC to government ownership. Design/methodology/approach A simultaneous equation analysis is applied to study 210 Tunisian non-financial firms over the 2001–2014 period. Findings The empirical results provide substantial evidence indicating that government-owned firms have higher BC and significant REM than other firms; the relationship between government ownership and firm BC is partially moderated by REM activities. Practical implications The findings imply that the implicit credit guarantee of government is not necessarily the unique determinant of firm BC and highlight the role of lenders in monitoring discretionary real transactions in government-owned and protected firms. These implications should be taken in to account by public sector policy makers. In particular, the findings predict that the current government accounting reform in Tunisia on the basis of IPSAS will, probably, improve information quality, but it is still insufficient to control real activities in public institutions. Originality/value This study extends a growing research stream on the relationship between BC and government ownership by focusing on the moderating effect of REM on this relationship and by considering the endogeneity issue. The findings provide evidence that government-owned firms use REM practices to improve their BC. Examining these practices in developing countries provides an opportunity to evaluate the efficiency of their public sector reforms and their effect on a firm’s performance and financing decisions.

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Iren, Perihan. "Gender diversity of boardrooms and firm financial performance." Risk Governance and Control: Financial Markets and Institutions 6, no. 3 (2016): 30–35. http://dx.doi.org/10.22495/rcgv6i3c1art3.

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The impact of boardroom diversity on firm financial performance has attracted growing research interest in recent years. However, due to the lack of readily available datasets for other parts of the world, most of the evidence is based on the US data. The purpose of this study is to examine the relationship between gender diversity in the boardrooms and firm financial performance in a region, where it has never been studied before. Using a sample of 60 firms listed in Abu Dhabi and Dubai Stock Exchanges, first the impact of gender diverse boards on the accounting value of the firms is analyzed. Afterwards, stock price reactions to the announcement of the gender quotas on corporate boards in the UAE are examined. The results do not show a significant impact of female directors on the firm’s both accounting and market value. However, these results should be interpreted carefully since the presence of women in leading positions might affect different aspects of the firm practices.

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Burnett, Amy, and Carolin Schellhorn. "Leadership performance of financial firms on climate change action." Banks and Bank Systems 11, no. 2 (July 2, 2016): 103–9. http://dx.doi.org/10.21511/bbs.11(2).2016.10.

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Global awareness of the urgent need to decarbonize the economy has been growing. Although legislative and regulatory actions have been lagging, some businesses have emerged as leaders in this process. In particular, financial institutions as information producers and resource allocators play an important role. In order to accelerate the global transition to a low-carbon economy, market participants need to develop the ability to identify and support firms that are leading on climate change action. Using CDP data on ten climate change action metrics for 2013, the authors apply the dichotomous Rasch model to rank the overall climate change action performance of U.S. financial firms across multiple dimensions of this effort. Simultaneously, the results identify the climate change action metrics for which success was most difficult to achieve. The authors show that investors, managers and regulators should consider ranking firms using this more comprehensive methodology rather than the CDP’s Performance Band or the CDP’s Disclosure Score alone when assessing firm leadership in this area. While this study focuses on financial firms, a similar analysis could be conducted for ranking firms in other industries as well. The authors’ results are important for investors, managers and regulators charged with firm performance evaluation and resource allocation in the face of growing pressures to decarbonize the global economy

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CROWLEY, FRANK, and JANE BOURKE. "THE INFLUENCE OF HUMAN RESOURCE MANAGEMENT SYSTEMS ON INNOVATION: EVIDENCE FROM IRISH MANUFACTURING AND SERVICE FIRMS." International Journal of Innovation Management 21, no. 01 (January 2017): 1750003. http://dx.doi.org/10.1142/s1363919617500037.

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The ability of firms to maximise their innovative potential is fundamental to economic growth. The successful implementation of human resource management (HRM) practices is important for firm performance, and there is a growing understanding of the benefits to firms when HRM practices are applied together. We investigate if HRM practices are significantly more effective when implemented as ‘bundles’ or ‘systems’ of complementarities than when they are implemented individually in Irish manufacturing and service firms. The National Workplace Survey (2009a), a dataset rich with information on HRM practices at the firm level, is employed. HRM bundles relating to performance management and appraisal, knowledge sharing and involvement and empowerment in decision-making are all positively associated with innovation in manufacturing and service firms, and bundles of flexible employment contracts practices positively influence innovation in service firms. In summary, HRM practices when applied together, rather than in isolation, are important for firm innovation.

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Jamil, Khalid, Muhammad Zeeshan, and Hamad Raza. "Effective Management and Its Impact on Growth of Small and Medium Sized Pakistani Firms." Information Management and Business Review 9, no. 3 (July 27, 2017): 6–12. http://dx.doi.org/10.22610/imbr.v9i3.1774.

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The study is held to observe the impact of Management including Management levels and decision making on the growth of small firms. Study area is Punjab (Pakistan). Small firms have no proper firm structure; they do not follow the formal rules to run the organization. In spite of this, these firms are growing rapidly. If these firms have effective management levels and rational decision making than the firms will grow rapidly. The results show a significant increase in growth by using rational decision making and having effective management levels. Statistical results show that if we spend 1% on independent variable, then it shows an 80% increase in dependent variable.

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Uzuegbunam, Ikenna. "Identity and initial structure in inter-firm alliances: a social identity perspective." Management Decision 54, no. 4 (May 16, 2016): 929–45. http://dx.doi.org/10.1108/md-12-2014-0696.

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Purpose – The purpose of this paper is to examine how firms use the identities of their alliance partners in choosing initial governance structures in strategic alliances. It proposes that social identity from the perspective of an established firm participating in an inter-firm alliance can be constructed on the basis of ownership categories and market categories of the firm’s alliance partners. Design/methodology/approach – The study focusses on a sample of 478 alliances involving 36 focal firms in the US semiconductor industry over a nine-year period (1995-2003). The sample is analyzed using logistic regression methods. Findings – The author finds evidence suggesting that joint venture (JV) structures are more likely when an alliance has more partners that identify as privately held firms or subsidiaries of other firms. The results also suggest that JV structures are more likely when an alliance involves strong product market identity with partners and less likely when an alliance involves strong geographic identity with partners. Originality/value – These findings provide some novel insights into potential heuristics that alliance managers use in making initial alliance structure decisions. In particular, this paper contributes to a growing stream of research that considers the optimal alliance structures for different partner configurations by showing the potential influence of partners’ identities in simplifying these important decisions.

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Bartel, Ann P., Brianna Cardiff-Hicks, and Kathryn Shaw. "Incentives for Lawyers." ILR Review 70, no. 2 (July 11, 2016): 336–58. http://dx.doi.org/10.1177/0019793916650450.

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The authors study an international law firm that changed its compensation plan for team leaders to address a multitasking problem: Team leaders were focusing their effort on billable hours and not spending sufficient time on leadership activities to build the firm. Compensation was changed to provide greater incentives for the leadership activities and weaker incentives for billable hours. The effect of this change on the task allocation of the firm’s team leaders was large and robust; team leaders increased their non-billable hours and shifted billable hours to team members. The firm’s new compensation plan (combining an objective formula with subjective evaluations) is the fastest-growing compensation system among law firms today.

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Libai, Barak, Eitan Muller, and Renana Peres. "The Diffusion of Services." Journal of Marketing Research 46, no. 2 (April 2009): 163–75. http://dx.doi.org/10.1509/jmkr.46.2.163.

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Many of the products introduced during the past two decades have been services rather than goods. An important influence on the growth and long-term profits of these services is customer attrition, which can occur at the category level (disadoption) or between firms (churn). However, the literature has rarely modeled how services penetrate a market and has not evaluated the effect of attrition on growth. The authors combine diffusion modeling with a customer relationship approach to investigate the influence of attrition on growth in service markets. In particular, the authors model the effects of disadoption and churn on evolution of a category and on growth of individual firms in a competitive environment. The authors show how neglecting disadoption can bias parameter estimation and, especially, market potential. They also derive an expression for the customer equity of a growing service firm and apply it to valuation of firms operating in competitive industries. The results for six of seven firms in four service categories are remarkably close to stock market valuations, an indicator for the role of customer equity in valuations of growing service firms.

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Kim, Ryoonhee. "Financial Weakness and Product Market Performance: Internal Capital Market Evidence." Journal of Financial and Quantitative Analysis 51, no. 1 (February 2016): 307–32. http://dx.doi.org/10.1017/s0022109016000077.

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AbstractUsing a data set of Korean business groups in the period 1999–2006, just after the Asian Financial Crisis, this study shows how business groups’ financial leverage can lead group-affiliated firms to lose market share to industry rivals. This analysis reveals that the negative effect of group leverage is greater when an affiliated firm is financially weak. Additionally, high group leverage is more detrimental to firms operating in fast-growing industries, discouraging affiliated firms from investing while encouraging their rivals. The results suggest that groups’ financial positions encompass a substantial strategic dimension of group-affiliated firms.

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NEELY, LYNN, and HOWARD VAN AUKEN. "AN EXAMINATION OF SMALL FIRM BOOTSTRAP FINANCING AND USE OF DEBT." Journal of Developmental Entrepreneurship 17, no. 01 (March 2012): 1250002. http://dx.doi.org/10.1142/s1084946712500021.

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This study examines the relationships between entrepreneurs' use of bootstrap financing methods and access to short- and long-term debt capital. By providing additional funding options, bootstrap financing helps alleviate liquidity issues by providing small firms additional sources of capital when more traditional sources are not accessible. Capital constraints can result in firms being unable to successfully compete and often lead to difficulties associated with liquidity constraints. The findings show that use of short- and long-term debt capital is directly associated with the use of bootstrap financing sources. The growing body of research is demonstrating that bootstrap financing is commonly used, but is related to the use of debt capital. These findings contribute to the growing body of research on small firm use of bootstrap financing and can be used by owners of small firms, consultants and educators. Programs that provide educational assistance to owners of small firms, including university courses and practitioner seminars/workshops, can expand the coverage of bootstrap financing in the curriculum.

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Lingard, Helen, Michelle Turner, and Sara Charlesworth. "Growing pains: work-life impacts in small-to-medium sized construction firms." Engineering, Construction and Architectural Management 22, no. 3 (May 18, 2015): 312–26. http://dx.doi.org/10.1108/ecam-07-2014-0100.

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Purpose – The purpose of this paper is to compare the quality of work-life experiences of workers in construction firms of differing sizes and explored the work conditions and circumstances that impact upon the work-life experiences of workers in small-to-medium sized enterprises (SMEs) in the Australian construction industry. Design/methodology/approach – Data were collected in two stages. First, data from a sub-set of construction industry workers were extracted from a large scale survey of workers in Victoria, Australia (the VicWAL survey). The survey measured work-life interference using the Australian Work and Life Index (AWALI). Next a subset of survey respondents was identified and interviewed to gain more detailed explanatory information and insight into work-life experiences. Findings – The survey results indicated that respondents who reported working for a construction firm with between 16 and 99 employees reported significantly higher AWALI scores (indicating high work-life interference) than workers in organisations employing 15 or less or more than 100 workers. The follow-up interviews revealed that workers in small construction organisations were managed directly and personally by the business owner/manager and able to access informal work-life supports that were provided on an “as needs” basis. In comparison workers in medium-sized firms perceived higher levels of work pressure and an expectation that work would be prioritised over family life. Research limitations/implications – The research shows that the findings of work-life balance research undertaken in large construction organisations cannot be generalised to SMEs. Organisation size should also be treated as an important variable in work-life balance research in construction. Practical implications – The research suggests that a better understanding of how workers in SME construction firms experience work-life balance is important in the design and development of work-life balance programs. In particular the challenges faced by workers as companies grow from SMEs require careful consideration and management. Originality/value – Previous research has focused on the work-life balance experiences of employees in large construction firms. Little was previously known about the experiences of workers in SME construction firms. The research provides new insight into the work-life experiences of construction workers in organisations of varying sizes.

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COLEMAN, SUSAN. "THE USE OF DEBT BY BLACK-OWNED FIRMS: RECENT EVIDENCE FROM THE 2003 SURVEY OF SMALL BUSINESS FINANCES." Journal of Developmental Entrepreneurship 13, no. 01 (March 2008): 39–57. http://dx.doi.org/10.1142/s1084946708000843.

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Black-owned firms are growing in terms of both number and economic importance. They play an important role in providing jobs as well as products and services, particularly in urban communities. In spite of this, prior research indicates that black-owned firms experience greater difficulty in securing sources of external capital. This study revisits this issue using newly released data from the 2003 Survey of Small Business Finances. Results reveal that black-owned firms were no less likely to have loans than white-owned firms controlling for firm and owner characteristics. Nevertheless, black-owned firms were still significantly more likely to be turned down for loans and more likely to refrain from applying because they assumed they would be turned down. Further, black firm owners who were approved for loans paid significantly higher rates of interest.

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Chan, Peng S., E. James Flynn, and Ravi Chinta. "Business Firm Performance Types And The Strategic Implications." Journal of Applied Business Research (JABR) 7, no. 1 (October 20, 2011): 30. http://dx.doi.org/10.19030/jabr.v7i1.6257.

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This study reports the findings of five different performance types that exist among business firms. These types were: Growing firms, turnabout firms, stagnant firms, turnaround firms, and declining firms. Using multiple discriminant analysis, the strategic differences among the five types were revealed. These strategic differences were captured in three dimensions, namely, asset-acquisition, finance, and differentiation. The key results indicate that growing firms tended to emphasize differentiation; turnabout firms ranked low on almost all dimensions; stagnant firms were high on both asset-acquisition and differentiation; turnaround firms tended to focus on financial strategies, and declining firms placed little emphasis on differentiation. The promising use of multiple discriminant analysis as a tool for taxonomic research in strategic management was highlighted.

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Bruns, Benjamin. "Changes in Workplace Heterogeneity and How They Widen the Gender Wage Gap." American Economic Journal: Applied Economics 11, no. 2 (April 1, 2019): 74–113. http://dx.doi.org/10.1257/app.20160664.

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Using linked employer-employee data for West Germany, I investigate the role of growing wage differentials between firms in the slowdown of gender wage convergence since the 1990s. The results show that two factors are at play: first, high-wage firms experience higher wage growth and employ disproportionately more men, and second, male firm premiums grow faster than female premiums in the same firms. These developments were catalyzed by a decline of union coverage, coupled with more firm-specific wage setting in collective bargaining agreements. Taken together, these conditions prevented the gender gap from narrowing by approximately 15 percent between the 1990s and 2000s. (JEL J16, J51, J31, J71)

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Ossorio, Mario. "Cross-border acquisitions and family businesses." EuroMed Journal of Business 14, no. 2 (July 1, 2019): 78–91. http://dx.doi.org/10.1108/emjb-05-2018-0033.

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Purpose The purpose of this paper is to shed light on the propensity of family firms to join a cross-border acquisition as acquirers. Design/methodology/approach The present study analyzes a sample of 270 acquisitions in the period 2015–2017 whose acquiring firms are represented by family and nonfamily listed European firms. Findings The results point out that family firms are less likely to make a cross-border acquisition than nonfamily counterparts. Research limitations/implications Mergers and acquisitions (M&A) activity is cyclical by nature, represented by waves of concentrated intensity rather than necessarily by constant activity over time. Therefore, the main limitation is represented by the period analyzed (2015–2017), which restricts the possibility of seizing a greater number of transactions. Practical implications If careful evaluation leads to the consideration of M&A as the optimal mode of entry into a certain foreign market, family firms should broaden the pool from which managers are selected in order to access more qualified staff, who are able to face international M&As. Originality/value In recent years, a growing body of literature has focused on the effects of family ownership on the propensity of making an M&A, on the method of payment chosen by an acquired family firm, and on the reaction of the market at the announcement of a family business’ M&A. However, despite of the relevance of the entry modes of firms’ internationalization strategies, scant attention has been devoted to cross-border M&As conducted by family firms, which occur when a family firm acquires a firm located in a foreign country. In order to fill the research gap, this work investigates the likelihood of a family firm’s acquisition of a foreign target.

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LONG, JANICE R. "Product Liability Suits: Growing Concern to Chemical Firms." Chemical & Engineering News 65, no. 17 (April 27, 1987): 19–20. http://dx.doi.org/10.1021/cen-v065n017.p019.

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Hoxha, Durim. "Entrepreneurship, employment and fast-growing firms in Kosova." World Review of Entrepreneurship, Management and Sustainable Development 4, no. 2/3 (2008): 203. http://dx.doi.org/10.1504/wremsd.2008.018225.

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Frederick, Howard H., and Bill Bygrave. "How we finance our new and growing firms." International Journal of Entrepreneurship and Small Business 1, no. 3/4 (2004): 287. http://dx.doi.org/10.1504/ijesb.2004.005660.

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Tell, Joakim. "Managerial strategies in small, fast‐growing manufacturing firms." Journal of Management Development 31, no. 7 (July 13, 2012): 700–710. http://dx.doi.org/10.1108/02621711211243890.

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Husain, Zafar. "Technology strategy framework for firms in growing economies." J. for Global Business Advancement 9, no. 3 (2016): 248. http://dx.doi.org/10.1504/jgba.2016.076723.

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Kirkwood, Jodyanne. "To grow or not? Growing small service firms." Journal of Small Business and Enterprise Development 16, no. 3 (August 7, 2009): 485–503. http://dx.doi.org/10.1108/14626000910977189.

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O'Brien, Thomas J., and Paul A. Vanderheiden. "Empirical Measurement of Operating Leverage for Growing Firms." Financial Management 16, no. 2 (1987): 45. http://dx.doi.org/10.2307/3666003.

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Backman, Mikaela, Johan Klaesson, and Özge Öner. "Innovation in the hospitality industry." Tourism Economics 23, no. 8 (June 21, 2017): 1591–614. http://dx.doi.org/10.1177/1354816617715159.

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The hospitality industry is a rapidly growing revenue generator in many countries and is becoming economically important for generating employment and for integrating of immigrants into the labor market. As an industry where firms face fierce competition, it is important for the firms to maintain their competitiveness by distinguishing themselves from others through continuous improvements and innovations. In this article, we investigate the determinants of innovation in the hospitality industry by analyzing survey data gathered from over 900 firms in Sweden. In the analysis, we differentiate between firm-specific and location-specific features. We conclude that the most important characteristics that explain innovation lie within the firm itself, not the location. These results provide important insights regarding firm- versus location-placed innovation policies.

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Journal articles on the topic 'Growing firms'

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